South Korea Feed Micronutrients Market was valued at USD 0.10 Billion in 2022 and is projected to reach USD 0.17 Billion by 2030, growing at a CAGR of 6.5% from 2024 to 2030.
The South Korea Feed Grade Licorice Extract Market is experiencing significant growth, driven by the increasing demand from various industries. This herbal extract, known for its beneficial properties, is being increasingly used in animal feed formulations. As industries strive for sustainable and health-focused practices, feed-grade licorice extract has gained attention due to its multiple applications in enhancing animal nutrition and improving feed quality.
Licorice extract contains Glycyrrhizin, a compound that has been proven to enhance immune system functions in animals. This makes it particularly valuable in the livestock industry, where animal health and productivity are closely linked. The extract is also known for its antioxidant, antimicrobial, and anti-inflammatory properties, making it ideal for inclusion in animal feed products. With South Korea being one of the leading countries in the livestock sector, the demand for feed-grade licorice extract continues to rise as companies seek natural ways to improve the health and performance of their livestock.
In terms of specific applications, feed-grade licorice extract is commonly used in poultry, swine, and ruminant diets. Poultry producers use it to enhance the immune systems of birds, helping to prevent disease outbreaks. In swine farming, licorice extract is utilized to improve growth rates and overall health, contributing to higher productivity. Ruminant farmers have turned to this extract to boost digestion efficiency and nutrient absorption, leading to healthier cattle and improved milk production.
For industries, the requirement for feed-grade licorice extract stems from its natural composition and the rising consumer preference for products derived from herbal sources. As consumers become more aware of the importance of natural ingredients in the food supply chain, feed manufacturers are seeking ways to meet these demands while ensuring animal welfare. This shift towards using plant-based additives is also influencing the formulation of pet foods and aquaculture feeds.
The South Korean feed-grade licorice extract market is poised for continued expansion, with increasing awareness of its benefits in animal nutrition. As industries embrace these natural alternatives, the market is set to experience sustained growth, offering significant opportunities for companies involved in both the production and distribution of licorice-based feed additives.
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Cargill
ADM
Nutreco
Kemin
Lallemend Health
Alltech
Novus
QualiTech
Balchem
Zinpro
Gawrihar Bio-Chem
Novus International
Solufeed
Prathista
Mahafeed Speciality Fertilizers
Dayal Group
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Feed Micronutrients Market
Minerals
Vitamins
Amino Acids
Enzymes
Probiotics
Animal Feed
Aquaculture Feed
Poultry Feed
Swine Feed
Ruminant Feed
Dry Form
Liquid Form
Growth Enhancement
Immune System Support
Feed Efficiency Improvement
Reproductive Health Support
Gut Health Support
Plant-Based
Animal-Based
Synthetic
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Feed Micronutrients Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Feed Micronutrients Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Feed Micronutrients Market, By Type
6. South Korea Feed Micronutrients Market, By Application
7. South Korea Feed Micronutrients Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Feed Micronutrients Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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