Animal Feed Organic Trace Minerals Market – Global Industry Analysis and Forecast (2023-2029)

Animal Feed Organic Trace Minerals Market was valued at US$ 616.71 Mn in 2022 and is expected to grow around US$ 856.26 Mn by 2029, at a CAGR of 8.5% during the forecast period.
Animal Feed Organic Trace Minerals Market Overview
Organic trace minerals also recognized as chelates are essential nutrients used in small quantities in the production of animal feed to advance the quality of feed. The trace minerals act as a catalytic agent in enzymatic and hormonal developments that helps in growth, maintenance, and bone improvement of livestock.

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Animal Feed Organic Trace Minerals Market Dynamics
The demand from animal farmers, on account of rising consciousness concerning the dangerous effects of consuming inorganic trace minerals containing heavy metal contaminants, is expected to boost the market growth. Organic trace minerals are in more demand compared to the inorganic minerals, because of their health benefits as well as their effect on the taste of the feed.

The use of water-soluble natural feed-added materials increased meat consumption, and the growth of the animal feed industry worldwide are the factors boosting the use of organic trace minerals. For instance, a change in the trend of food consumption, which includes the advancement of proteins from animal sources, plays a main role in the worldwide growth of meat consumption. It is expected that increased occurrences of animal diseases, like Avian Influenza (AI) will hamper the growth of the global market in recent years. New opportunities for industrial improvement were produced by increasing R&D activities to enhance specific functions of organic trace minerals.

On the other hand, the high cost of products together with rising R&D costs will be expected to hinder the growth of the animal feed organic trace minerals market in the above-mentioned forecast period (2022-2029).
Animal Feed Organic Trace Minerals Market Segment Analysis
By the mineral segment, zinc is expected to hold the highest CAGR in the global animal feed organic trace minerals market. Zinc develops the metabolism and immunity of the animals. Extra consumption of organic trace minerals is expected to be hazardous to the health of the livestock.
Regional Analysis
Region-wise, the Asia Pacific market is expected to hold the largest revenue share in the global animal feed organic trace minerals market. Increasing consumption of food additives, like vitamins, carotenoids, and enzymes are expected to generate opportunities for animal feed organic trace minerals producers which is expected to fuel market growth in the future. Also, government initiatives to support the production of feed with better-quality is expected to drive the market growth. Likewise, the presence of numerous producers in the region is expected to have a positive influence the market growth in the years to come.

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Animal Feed Organic Trace Minerals Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 616.71 Mn.


Forecast Period 2023 to 2029 CAGR:
8.5%
Market Size in 2029:
US $ 856.26 Mn.


 Segments Covered:
by Mineral
Zinc
Copper
Iron
Selenium
Other (Cobalt and Manganese)


by Livestock
Ruminant
Pig
Poultry
Others (Aquaculture, Pets, Equine)


by Nature
Organic
Inorganic
Others



Global Animal Feed Organic Trace Minerals Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Key players
1. Archer Daniels Midland Company
2. Tanke International Group
3. Mercer Milling Co., Inc.
4. Royal DSM N.V.
5. Novus International, Inc.
6. Kemin Industries, Inc.
7. Nutreco N.V.
8. Vamso Biotec Pvt. Ltd.
9. Zinpro Corp.
10.Pancosma S.A.
11.Australia Zinc Group
12.Nyrstar
13.Codelco
14.BHP Billiton Ltd.
15.Alltech Inc.
16.Biochem
17.Cargill Inc.
18.Phibro Animal Health Corporation
19.QualiTech

Frequently Asked Questions:

1. Which region has the largest share in Global Market?
Ans: Asia Pacific region held the highest share in 2022.

2. What is the growth rate of Global Market?
Ans: The Global Market is growing at a CAGR of 8.5% during forecasting period 2023-2029.

3. What is scope of the Global Animal Feed Organic Trace Minerals market report?
Ans: Global  Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global market?
Ans: The important key players in the Global Market are – Archer Daniels Midland Company, Tanke International Group, Mercer Milling Co., Inc., Royal DSM N.V., Novus International, Inc., Kemin Industries, Inc., Nutreco N.V., Vamso Biotec Pvt. Ltd., Zinpro Corp., Pancosma S.A., Australia Zinc Group, Nyrstar, Codelco, BHP Billiton Ltd., Alltech Inc., Biochem, Cargill Inc. and QualiTech.

5. What is the study period of this market?
Ans: The Global Market is studied from 2022 to 2029.