Report ID: UCMIG30I2150
Report ID:
UCMIG30I2150 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
Global animal feed micronutrients market size was USD 1.23 billion in 2016. The market is expected to grow due to the rising global consumption of dairy products such as cheese, milk, and yogurt. Additionally, the increasing preference for meat over vegetarian food is anticipated to drive further growth. The industry is expected to develop positively due to the ability of animal feed micronutrients to increase animal weight, particularly in swine. The product also leads to the production of high-quality meat, which is expected to drive demand during the forecast period.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Packaged Foods & Meats by segment aggregation, the contribution of the Packaged Foods & Meats in Food, Beverage & Tobacco and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG30I2150