MARKET OVERVIEW:
The Middle East and Africa Animal Feed Micronutrients Market was worth USD 153.06 Million in 2018 and is expected to reach USD 198.36 Million by 2023 with a CAGR of 5.323 %. The Middle East and Africa Animal Feed Micronutrients Market are increasing at a tremendous pace because of its large population and growing economies in developing countries. Animal Feed Micronutrients are important animal feed additives for improving animal feed quality to produce 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 the greater performance and growing applications, for example, development promoter, prevention, and cure of illnesses, for amplifying reproduction rate and for improving feed digestibity in animals.
RECENT DEVELOPMENTS:
In 2016, Cargill invested approximately USD 33 million to open new plants in the Asia Pacific and Europe regions.
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DRIVERS AND RESTRAINTS:
Increased expenditure on animal welfare, increasing interest in pets and animal welfare, and the success of animal nutrition micronutrients in animal development and fertility are key factors in the animal feed micronutrient in the Middle East and Africa. Whereas the critical dosage of micronutrients in animal nutrition and the lack of knowledge about the benefits of micronutrients between uneducated farmers and poor farmers are essential factors that inhibit the micronutrient sector for animal feed.
REPORT SEGMENTED AS:
Based on Micronutrients:
- Zinc
- Iron
- Manganese
- Copper
Based on Use of micronutrients:
- Ruminant
- Poultry
- Aqua
- Swine
- Equine
GEOGRAPHICAL SEGMENTATION:
Geographically, this market is segmented into the Middle East and Africa. This region has the lowest CAGR compared to the rest of the market and is forecasted to register a growth rate at a slightly sluggish pace.
KEY MARKET PLAYERS:
- Archer Daniels Midland Company (ADM)
- Balchem Corp.
- Lallemand Inc.
- Alltech Inc.
- Cargill Inc.
- Novus International Inc.
- Kemin Industries Inc.
- Zinpro Corporation
- Nutreco N.V.
- Qualitech Inc.
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THE SCOPE OF THE REPORT:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along with this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed, and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis of prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.What else? Apart from the syndicated report, our in-house team has expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.
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