Increasing number of feed mills globally is driving the market.
Market Size – USD 472 Million in 2020, Market Growth – at a CAGR of 5.2%, Market Trends –Rising bioavailability of trace minerals
The global trace minerals in feed market is predicted to be valued at USD 707.7 Million in 2028 from USD 472 Billion in 2020, occupying a CAGR of 5.2% over the projection timeline. Trace minerals provide several essential nutrients for animals, required in the metabolic functions including development and growth, reproduction, and immunity. Even moderate deficiencies of trace minerals can adversely affect the performance of animals. The steady rise in the meat consumption in the regions of South- America and Asia-Pacific due to the changing diet patterns, population, rapid urbanization, and steady economic growth is majorly supporting the industry growth.
Fishes are generally low in cholesterol, fats, and carbohydrates, but rich in protein. The consumption of fish is advantageous in getting the adequate supplement of amino acids and essential vitamins. These factors result in an increased global need for protein, especially among health-conscious population. Globally rising population trends in the consumption of seafood and poultry meat products are also encouraging the sector’s growth. Growing life expectancy and limited water and land resources for the production of animal feed, is promoting the trace element’s use in animal feed which is further accelerating the industry growth globally.
Several manufacturers in the industry are developing various techniques for supplying inorganic elements in organic forms, which results in increasing the bioavailability of various compound food along with improving livestock’s productivity. In the organic form, the most crucial trace elements are zinc, chromium, copper, and selenium. Growing awareness regarding the advantages of different organic mineral chelates among livestock producers or farmers is resulting in the significant demand for mineral supplements, thus propelling the market.
However, an outbreak of various animal diseases including AI or Avian Influenza is predicted to hamper the overall industry growth. Thus, minimizing such outbreak’s after-effects is a major challenge faced by industry manufacturers as well as governing bodies globally. Increasing activities in R&D for maximizing organic trace mineral’s specific functions are creating new avenues for the industry’s development.
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Further key findings in the report
- Iron segment is foreseen to grow at the fastest CAGR in the upcoming years. Increasing awareness about the side effects caused by the iron deficiency is boosting this element’s demand. Iron deficiency leads to the imbalance in the tissue metabolism and thus, responsible for causing anemia.
- North America is predicted to be one of the major consumers in the field of dairy cattle feed and is foreseen to rise at a CAGR of 4.9% over the commenced period. Technological resources, the availability of ample land, and growing infrastructure have been majorly promoting the industry’s growth for dairy cattle.
- Asia Pacific showcased the highest market possession of nearly 35% in the year 2018. APAC experienced an enormous demand for various organic trace minerals in the production of livestock due to rapid expansion in the meat industry along with increasing need from various countries including India and China and the existence of several key manufacturers in APAC.
- The names of the major vendors in the market include BASF SE, Biochem Zusatzstoffe, Bluestar Adisseo, Cargill, Inc., Chemlock Nutrition Corporation, DLG Group, DSM, Lallemand, Inc., Kemin Industries Inc., Nutreco N.V., Orffa, Novus International, Qualitech, Inc., Tanke, Virbac, Veterinary Professional Services LTD, Phibro Animal Health Corp, and Zinpro Corporation.
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For the purpose of this report, Reports and Data has segmented the global trace minerals in feed market on the basis of product type, livestock, chelate, form, and region:
Type Outlook: (Revenue, USD Million, 2018 – 2028)
- Other types (iodine and selenium)
Livestock Outlook: (Revenue, USD Million, 2018 – 2028)
- Other livestock (equine and pets)
Chelate Outlook: (Revenue, USD Million, 2018 – 2028)
- Amino acids
- Other chelate types (propionates and peptides)
Form Outlook: (Revenue, USD Million, 2018 – 2028)
Regional Outlook: (Revenue, USD Million, 2018 – 2028)
- North America
- The U.S.
- Asia Pacific
- Central & South America
- Middle East & Africa
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Table of Content:
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Product Outlook
2.3. Distribution Channel Outlook
2.4. Competitive Insights
Chapter 3. Trace Minerals in Feed Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Sales/Retail Channel Analysis
3.3.2. Profit Margin Analysis
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