Chelated Minerals Market – Global Industry Analysis and Forecast (2023-2029)

Chelated Minerals Market was worth US$ 3.86 Bn. in 2022 and total revenue is expected to grow at a rate of 8.10% CAGR from 2022 to 2029, reaching almost US$ 6.67 Bn. in 2029.
Chelated Minerals Market Overview:
Minerals are the main elements that are required for the human & animal body to work. Minerals affect various features of bodywork like growth, bone health, fluid balance & many other developments. Chelated minerals are achieving grip due to their end-use application in various industries mainly in animal feed & dietary products. Feed seasonings is among the wildest rising industries of the global as the companies operating in the animal feed industry need to meet the requirement of customers across the globe. Customers are aware & conscious of the feed given to farm animals. The increasing demand for organic products for animal feed is projected to improve the sales of chelated minerals.

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Improved demand for animal feed due to COVID:
Countries like Romania have expelled the export to Non-EU nations thereby generating severe demand-supply issues in the animal feed industry. Among the banned grain exports comprise soybeans & wheat. China, the main supplier of biological soybean has produced disruptions for overall organic feed manufacturers in the opinion of its draconian methods forced to control the Covid-19 pandemic. Moreover, the source of vessels & containers has also been affected along with the conveyance of certain micro-ingredients owing to China’s logistics issues.

The animal feed business has also been seriously affected by the closing of hotels around the globe. The dramatic change in customers’ intake patterns in the light of the SARS-CoV-2 outburst has forced companies to rethink their rules & strategies. Lamb procurement, aquaculture, beef & veal segments in specific are among the worst affected. EU farm animals have been titled disaster management events to mitigate the impact of the Corona Virus. Private storage aid is the main mitigation measure being demanded by aquaculture farmers.

Panic-induced buying fuel demand:

As the US government applied for lockdown orders, numerous farmers resorted to panic purchasing animal feed in the expectation of potential lacks. Several worries like truck shortages, reduced distributions, & employees contracting Corona Virus forced farmers to stock their animal feed provisions. This move spiked the demand for animal feed seasonings during the month of April, in the year 2022. Farmers in the US are worried about measured procurement in slaughterhouses as well. As the United States ordered the closure of ethanol plants, it has added to the distress of farmers. Key investors in the farm animals feed market are concerned about the absence of Dried Distillers Grains, an important by-product.

Due to high healthcare costs, consumers are shifting to dietary products to remain healthy, which is anticipated to rise the demand for chelated minerals. The harmful diet of the customers around the world is producing a shortage of many vital minerals which may affect the health of the customers. Thus an exponential growth in the intake of dietary supplements is witnessed in the past decade. The influences estimated to drive market development of chelated minerals during the forecast period are fast development & a rise in disposable income along with growing consciousness of health matters. Credited to the rising occurrence of cardiovascular illnesses & the number of weight loss facilities, favorable forecasts for medical nourishment are anticipated to increase the market for dietary products during the forecast period.

Improved demand for harmless & hygienic animal food, limitations on the usage of antibiotics & improved awareness of animal health amongst manufacturers are the main influences driving the development of the market for animal nourishment which is predictable to accelerate the demand for chelated minerals. An MMR report survey says about 77 percent of Americans take dietary products regularly. With increasing healthcare costs & the rising burden of lifestyle illnesses, the dietary product's market is mostly driven by the seismic move towards defensive health management performance.

Chelated minerals benefit the building of robust muscles & bones and increase the immune system. This trend is being followed in most of the countries of recognized & emerging economies. To help the health & performance of animals, the demand for animal nourishment solutions is meaningfully increasing. In recent years, meat intake has increased owing to a rising populace, particularly in the emerging ASEAN economies. Fast growths in the meat & poultry business, joined with increasing competition, have encouraged the insistence among the major market companies to improve & sustain produce quality.

Growing urbanization & rising meat exports are anticipated to rise the demand for chelated minerals worldwide. It is expected that increasing customer awareness about proper pet nutrition would allow customers to pay the best amounts during the forecast period for harmless & nourishing pet food.
Consequences met by Market owing to COVID-19:
The pandemic of the novel coronavirus had harmfully affected the overall economy. There has been a major move in food intake & eating habits, particularly with new worries like hygiene, social distance & health care defense which have now come to light & will affect the present & future market. The nutritional products market has witnessed high improvement during the coronavirus outbreak which is expected to fuel the chelated minerals market growth. Thus key companies in this market have experienced low to the moderated consequences of the pandemic. Due to customers choosing immunity improving supplements during the coronavirus outbreak, the market for functional foods is estimated to get an upward rise. In addition, during the forecast period, a cut in the intake of poultry, meat & seafood products globally is anticipated to rise the market for plant & animal protein products.

Reforming the supply chain is vital for element makers to bear in the market during coronavirus outbreaks. To permit a future supply chain, it is necessary for food & ingredient makers to have a long-term agreement with local, & regional level dealers, as these will support the firms to meet any future possibilities such as the COVID-19 pandemic.
Regional Overview:
North America is anticipated to be the major market for chelated minerals credited to high intake of dietary product. Growing health awareness has become important, so more & more customers are interested in gaining info about the element they join in their normal lives, chelated minerals are far greater to inorganic trace minerals & have a profitable opportunity in the established market as they have formed an optimistic buzz about their efficiency in the dietary product. The rising usage of these type of minerals in food increases demand for meat over all the regions which may affect the sales of cheated minerals. The growing demand of animal sourced food has formed consciousness among the customers about the health of farm animals.

The objective of the report is to present a comprehensive analysis of the Chelated Minerals Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Chelated Minerals Market dynamics, structure by analyzing the market segments and project the Chelated Minerals Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Chelated Minerals Market make the report investor’s guide.
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Chelated Minerals Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US$ 3.86 Bn.


Forecast Period 2023 to 2029 CAGR:
8.10%
Market Size in 2029:
US$ 6.67 Bn.


 Segments Covered:
by Type
• Iron
• Zinc
• Copper
• Calcium


by Form
• Powder
• Liquid


by Agent
• Amino Acids
• Organic Acid
• Proteinates
• Others



Chelated 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)
Chelated Minerals Market Key Players are:
• Zinpro Corp.
• Maru Chem Industries
• Glanbia PLC
• Balchem Inc.
• Virbac
• LMF Feeds, Inc.
• Cargill, Inc.
• Alltech
• Kemin Industries, Inc.
• BASF SE
• Nutreco
• NOW Foods
• Novus International, Inc.
• Bluestar Adisseo Co., Ltd.
• Koninklijke DSM N.V.
• Phoenix Nutrition
• Archer Daniel Midland Company
• Phibro Animal Health Corporation (PAHC)
• Lehmann&Voss&Co.
• Prathista Industries Limited.

Frequently Asked Questions:

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

2. What is the growth rate of Global Chelated Minerals Market?
Ans: The Global Chelated Minerals Market is expected to grow at a CAGR of 8.10% during forecasting period 2023-2029.

3. What is scope of the Global Chelated Minerals market report?
Ans: Global Chelated Minerals 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 Chelated Minerals market?
Ans: The important key players in the Global Chelated Minerals Market are – Zinpro Corp., Maru Chem Industries, Glanbia PLC, Balchem Inc., Virbac, LMF Feeds, Inc., Cargill, Inc., Alltech, Kemin Industries, Inc., BASF SE, Nutreco, NOW Foods, Novus International, Inc., Bluestar Adisseo Co., Ltd., Koninklijke DSM N.V., Phoenix Nutrition, Archer Daniel Midland Company, Phibro Animal Health Corporation (PAHC), Lehmann&Voss&Co., and Prathista Industries Limited..

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