The global animal feed organic trace minerals market size reached US$ 709 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,070 Million by 2028, exhibiting a growth rate (CAGR) of 6.9% during 2023-2028.
Animal feed organic trace minerals include essential nutrients, such as iron, copper, manganese, zinc, and selenium, that are used in animal feed production. They are incorporated in small quantities to improve the feed quality and boost animal health. Animal feed organic trace minerals enhance animals' immunity and metabolism while improving the fertility rate. As compared to inorganic trace minerals, organic trace minerals are a bioavailable source and help in achieving the same production goals by feeding small amounts of nutrients from organic sources. As a result, these minerals are commonly used for pets, swine, dairy cattle, beef, and aquaculture animals.
Animal Feed Organic Trace Minerals Market Trends:
The increasing meat consumption across the globe is creating a positive outlook for the market. In line with this, the rising consumer awareness and inclination toward high-protein foods, such as chicken, pork, and eggs, in their daily diets are favoring the market growth. Additionally, the growing demand for trace organic minerals in animal feed due to the rising concerns about environmental pollution caused by the extensive use of chemicals in agriculture is favoring the market growth. Apart from this, the utilization of zinc and amino acids to strengthen eggshells in poultry and copper to improve the fertility of eggs is providing an impetus to the market growth. Furthermore, the implementation of various government initiatives, such as the ban on the use of synthetic and inorganic trace minerals containing heavy contaminants in feed products, is acting as another growth-inducing factor. Moreover, the growing demand for processed meat products, such as ready-made meals, due to their enhanced nutritional value, safety, and versatility, is positively influencing the market growth. Other factors, including the increasing efforts to produce healthy livestock, rising consumption of minerals for better metabolic processes, and significant growth in the animal feed industry, are supporting the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global animal feed organic trace minerals market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on trace element type and animal type.
Breakup by Trace Element Type:
Breakup by Animal Type:
- Dairy Cattle
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Alltech, Archer-Daniels-Midland Company, BASF SE, Biochem Zusatzstoffe Handels- und Produktionsgesellschaft mbH, Cargill Incorporated, Kemin Industries Inc., Koninklijke DSM N.V, Novus International Inc. (Mitsui & Co. Ltd.), Nutreco N.V., Orffa Additives B.V., QualiTech and Zinpro Corporation.
|Base Year of the Analysis
||Trace Element Type, Animal Type, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Alltech, Archer-Daniels-Midland Company, BASF SE, Biochem Zusatzstoffe Handels- und Produktionsgesellschaft mbH, Cargill Incorporated, Kemin Industries Inc., Koninklijke DSM N.V, Novus International Inc. (Mitsui & Co. Ltd.), Nutreco N.V., Orffa Additives B.V., QualiTech and Zinpro Corporation
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Key Questions Answered in This Report:
- How has the global animal feed organic trace minerals market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global animal feed organic trace minerals market?
- What are the key regional markets?
- What is the breakup of the market based on the trace element type?
- What is the breakup of the market based on the animal type?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global animal feed organic trace minerals market and who are the key players?
- What is the degree of competition in the industry?