Asia-Pacific animal feed micronutrient market is expected to reach USD 504.41 million in 2024 and reach USD 704.16 million by 2029, growing at a CAGR of 6.9 % from 2024 to 2029.
Asia-Pacific animal feed micronutrient market is increasing at a tremendous pace because of its large population and increasing economies in developing countries.
Animal feed micronutrients are important animal feed additives for improving animal feed quality, producing high-quality animal products like milk, wool, etc., and also for the good health of pet animals. Animal Feed micronutrients are becoming famous essentially because of their greater performance and growing applications, for example, development promoter, prevention, and cure of illnesses, amplifying reproduction rate, and for improving feed digestibility in animals.
Asia-Pacific Animal Feed Micronutrients Market Drivers:
Growing expenses on animal wellbeing, Rising interest in owning pet animals, and wellness combined with the success of animal feed micronutrients in the development and fertility of the animals are some of the major factors driving the animal feed micronutrients market. Furthermore, the rising demand for animal protein from milk and meat-delivering cattle combined with the recent illness epidemic in cattle is further driving the animal feed micronutrient market.
Asia-Pacific Animal Feed Micronutrients Market Restraints:
The critical dosage use of animal feed micronutrients and lack of awareness about the advantages of micronutrients among uneducated and poor farmers are major factors restraining the animal feed micronutrient industry.
This research report on the Asia Pacific animal feed micronutrient market is segmented and sub-segmented into the following categories.
Asia-Pacific Animal Feed Micronutrients Market – By Type of Micronutrients:
Asia-Pacific Animal Feed Micronutrients Market – By Livestock:
Asia-Pacific Animal Feed Micronutrients Market – By Country:
Asia-Pacific is the largest market in this market and has the highest CAGR in the forecast period.
KEY MARKET PLAYERS:
Major companies operating in the Asia-Pacific market include Archer Daniels Midland Company (ADM), Balchem Corp., Lallemand Inc, Alltech Inc., Cargill Inc., Novus International Inc., Kemin Industries Inc., Zinpro Corporation, Nutreco N.V. and Qualitech Inc.
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