New York, United States , June 12, 2024 (GLOBE NEWSWIRE) -- The Global Trace Minerals in Feed Market Size is to Grow from USD 563.8 Million in 2023 to USD 970.2 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 5.58% during the projected period.
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The trace minerals zinc, manganese, iron, copper, and selenium are necessary for healthy immune system operation and disease resistance. A proper mineral balance must be maintained for animals to be productive. Another vital nutrient utilized to preserve animal health is trace minerals. In several metabolic processes, trace minerals are necessary. Even though they might not show any obvious signs or symptoms, animals that experience asymptomatic loss nevertheless have good health and a decreased capability for production. By giving the animals a well-balanced diet of trace minerals, this phase can be avoided. Additionally, the expansion of the business has been facilitated by the rise in demand for red meat and chicken in these nations. The increasing importance of animal nutrition in livestock production, the growing use of water-soluble natural feed-added compounds, the rising demand for animal protein in human diets, the expanding global feed for animals’ industry, the growing shift in food consumption patterns which includes selecting proteins from animal sources and the rising demand for animal-based products as a result of rising disposable income are all contributing factors to the market's growth. However, the primary elements acting as barriers are the strengthening laws and guidelines that control allowed concentrations of specific minerals in feed products, as well as the rising costs of goods and R&D.
Browse key industry insights spread across 220 pages with 110 Market data tables and figures & charts from the report on the "Global Trace Minerals in Feed Market Size, Share, and COVID-19 Impact Analysis, By Type (Iron, Zinc, Manganese, Copper, Cobalt, and Chromium), By Livestock (Swine, Ruminants, Poultry, and Aquaculture), By Chelate Type (Amino Acids, Proteinates, and Polysaccharides), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The iron segment is anticipated to hold the highest share of the global trace minerals in feed market during the projected timeframe.
Based on the type, the global trace minerals in feed market is divided into iron, zinc, manganese, copper, cobalt, and chromium. Among these, the iron segment is anticipated to hold the highest share of the global trace minerals in feed market during the projected timeframe. Iron, an essential element for proper bodily function, is crucial in livestock feed. As animals often suffer from iron deficiency leading to oxidative stress and anemia, incorporating iron in feed is vital.
The poultry segment is anticipated to hold the highest CAGR of the global trace minerals in feed market during the projected timeframe.
Based on the livestock, the global trace minerals in feed market is divided into swine, ruminants, poultry, and aquaculture. Among these, the poultry segment is anticipated to hold the highest CAGR of the global trace minerals in feed market during the projected timeframe. Increased focus on animal protein consumption drives market expansion.
The amino acids segment is anticipated to dominate the global trace minerals in feed market during the projected timeframe.
Based on the chelate type, the global trace minerals in feed market is divided into amino acids, proteinates, and polysaccharides. Among these, the amino acids segment is anticipated to dominate the global trace minerals in feed market during the projected timeframe. Binding amino acids to mineral particles improves solubility and mineral absorption.
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Europe is expected to hold the largest share of the global trace minerals in feed market over the forecast period.
Europe is expected to hold the largest share of the global trace minerals in feed market over the forecast period. Due to constant demand for a variety of cattle, Europe is also anticipated to play a significant part in the industry. The two biggest markets in this region for trace minerals in organic animal feed are Spain and Germany. Throughout the projected period, the iron segment which dominated the European market is anticipated to grow at a compound annual growth rate. Due to the European Commission placing a strong emphasis on reducing input costs and enhancing animal health throughout the early stages of growth, trace minerals are frequently used in animal nutrition in Europe. Trace element utilization in animal nutrition is governed by several variables, including availability, cost, policy, and legislation.
Asia Pacific is predicted to grow at the fastest pace in the global trace minerals in feed market during the projected timeframe. This is due to the area is home to a sizable manufacturing population. The region is dominated by China, the world's largest producer of animal feed in the same year. There is significant demand for organic trace minerals in animal feed from the swine and poultry sectors. Moreover, the need for organic trace minerals in poultry production has increased due to developments in the manufacturing and retail sectors, a rise in per capita chicken consumption, and better infrastructure.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Trace Minerals In Feed Market are Cargill, Incorporated, Archer-Daniels-Midland Company (ADM), BASF SE, Bluestar Adisseo Co., Ltd, Koninklijke DSM N.V., Alltech Inc., Zinpro Corporation, Novus International Inc., Kemin Industries, Inc., Lallemand Inc., Virbac SA, QualiTech Inc., Dr. Paul Lohmann Gmbh & Co. KGAA, Orffa International Holding BV and Other Key Vendors.
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Recent Developments
- In July 2022, Virbac announced the availability of TENOTRYLTM (enrofloxacin) injectable form of solution for livestock and swine in the United States. This injectable form of solution comes in 100, 250, and 500 mL vials.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global trace minerals in feed market based on the below-mentioned segments:
Global Trace Minerals In Feed Market, By Type
- Iron
- Zinc
- Manganese
- Copper
- Cobalt
- Chromium
Global Trace Minerals in Feed Market, By Livestock
- Swine
- Ruminants
- Poultry
- Aquaculture
Global Trace Minerals in Feed Market, By Chelate Type
- Amino Acids
- Proteinates
- Polysaccharides
Global Automotive Hypervisor Market, Regional Analysis
North America
-
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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