The global trace minerals in the feed market are expected to register a CAGR of 5.8%. The market is expected to grow from USD 473 million in 2022 to reach USD 610 million by 2030 during the forecast period.
Trace minerals are also termed micro-minerals. Trace minerals are very important minerals consumed by the human body with the source of food. Small amounts of trace minerals are required in the human diet. Trace minerals help to improve the immunity and metabolism of animals and develop the fertility rate.
Trace minerals are organic or inorganic minerals that are vital for the normal functioning of living organisms. Trace minerals are required in small quantities. Organic trace minerals are formed by combining inorganic trace minerals with organic molecules.
The demand for animal protein in human diets is surging fueling the trace minerals in the feed market. The growing prominence for animal nutrition in livestock production and mounting use of water-soluble natural feed-added substances hikes the market growth. The mounting eruption of various infectious diseases particularly in poultry diseases raises awareness about the significance of perfect nutritional needs for animals in feed manufacturers and farmers.
The increasing bioaccessibility of trace minerals is approving certain remunerative avenues in the feed market.
However, a strict administrative structure commanding the permitted limits of certain minerals in feed products hinders the market growth.
The global trace minerals in the feed market are based on the type, livestock, chelate type, and form.
By type, zinc accounted for the largest market with a 32% share in 2018. The demand for animal feed as it promotes the immunity and metabolism of animals, stimulating market growth.
Iron is the second-largest product segment and is witnessed to grow with the highest CAGR growth rate during the foretold period. The growing awareness regarding adverse effects due to iron deficiency fosters the global iron demand. Iron deficiency leads to an imbalance in tissue metabolism and causes anemia.
Moreover, the copper segment is approximated to record the quickest CAGR. The copper segment ascribes to the growing awareness about its significance in establishing animal bones.
By livestock, the poultry segment is estimated to experience the largest CAGR. Poultry consumption rose in 2022. The advanced focus on consuming animal protein in daily diets is one important aspect that has developed the market growth. The market for white meat and eggs is surging due to which they want for hiking livestock production has grown.
By Chelate type, the amino acids segment is scheduled to witness the highest CAGR rate. Amino acids are flawless chelating agents due to their capability to get swiftly absorbed in animal bodies. The absorption is due to the inclusion of amino acids in the mineral particles that form a steady structure.
The dry form segment led the trace minerals in the feed market in 2022. The trace minerals in dry form maintain their climatic conditions and have higher constancy. The hygienic supply of dry ingredients and the feeding system are relatively easy to use. The dry form of trace minerals contains low moisture content, therefore, decreasing the quality degradation pace.
Moreover, dry powders can be stored for a longer time than other forms of products.
The liquid form of trace minerals in the feed market is expected to have a quick rate compared to the dry form. The liquid form helps to deliver minerals consistently which is optimal for the nutritional requirements of the livestock.
Regionally, Asia-Pacific is accounted for the largest share in the trace minerals in the feed market with a 35% share in 2018. The market is approximated to extend at a healthy CAGR rate. Asia-Pacific observed the highest demand for organic trace minerals in animal feed due to the rising meat industry. China and India are increasingly demanding trace minerals in the feed.
North America is envisioned to experience the swiftest CAGR in the foreseen period. The region is said to have remarkable growth over the coming time. The growth depends on the rising consumption of livestock with rising production that has allowed producers of the industry in employing animal feed including different trace minerals. The trace minerals in the region are highly effective in developing the fertility rate and upgrading the animal's healthier growth.
Europe is promised to have a substantial position in the trace minerals in the feed market. Spain and Germany account for the organic animal feed trace minerals. In Europe, the Iron segment dominated the market in 2018. The region is considered to have a healthy CAGR during the foreseen period.
The region has witnessed the highest demand for copper due to the presence of developed poultry and swine industries fuels the market growth. The increasing desire for feed hygiene and regulations relevant to unwanted substances in feed set by the European Commission. The European Commission has had a positive influence on the feed industry drives the market growth in Europe.
Latin America is assessed to record to register a high demand for zinc. The region is driven by the growing demand for poultry and eggs as well as pork. The demand for trace minerals in animal nutrition is accelerating because of economic, policies, availability, and growing favorable conditions.
The Middle East and African regions are scheduled to grow at a productive rate during the foreseen period. The region's growth owes to the appearance of improving the poultry sector.
Top key players in the Trace Minerals In Feed Market
The novel coronavirus (COVID-19) has directly affected the consumption of meat and livestock products and by-products like eggs and milk. The impact is largely due to the supply shortage resulting in the shutdown of many facilities and completed lockdown in the majority of the countries.
There is a distrust in consumers towards the consumption of poultry products due to the panic of getting infected through meat or eggs consumption. The factor has decreased the animal feed need in the market globally.
Recent Market Developments
Trace Minerals In Feed Market - Forecast (2021 - 2026)
Chapter 1. Trace Minerals In Feed Market – Scope & Methodology
1.1. Market Segmentation
1.3. Research Methodology
1.4. Primary Sources
1.5. Secondary Sources
Chapter 2. Trace Minerals In Feed Market – Executive Summary
2.1. Market Size & Forecast – (2021 – 2026) ($M/$Bn)
2.2. Key Trends & Insights
2.3. COVID-19 Impact Analysis
2.3.1. Impact during 2021 - 2026
2.3.2. Impact on Supply – Demand
2.3.3. Impact on Production Cost
2.3.4. Impact on Supply Chain
Chapter 3. Trace Minerals In Feed Market – Competition Scenario
3.1. Market Share Analysis
3.2. Product Benchmarking
3.3. Competitive Strategy & Development Scenario
3.4. Competitive Pricing Analysis
3.5. Supplier - Distributor Analysis
Chapter 4. Trace Minerals In Feed Market Entry Scenario
4.1. Case Studies – Start-up/Thriving Companies
4.2. Regulatory Scenario - By Region
4.3 Customer Analysis
4.4. Porters Five Force Model
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Powers of Customers
4.4.3. Threat of New Entrants
4.4.4. Rivalry among Existing Players
4.4.5. Threat of Substitutes
Chapter 5. Trace Minerals In Feed Market - Landscape
5.1. Value Chain Analysis – Key Stakeholders Impact Analysis
5.2. Market Drivers
5.3. Market Restraints/Challenges
5.4. Market Opportunities
Chapter 6. Trace Minerals In Feed Market – By Type
6.7. Other Types
Chapter 7 . Trace Minerals In Feed Market – By Livestock
7.5. Other Livestock
Chapter 8 . Trace Minerals In Feed Market – By Chelate Type
8.1. Amino Acids
8.4. Other Chelate Types
Chapter 9 . Trace Minerals In Feed Market – By Form
Chapter 10. Trace Minerals In Feed Market , By Geography – Market Size, Forecast, Trends & Insights
10.1. North America
10.2.7. Rest of Europe
10.3. Asia Pacific
10.3.2. South Korea
10.3.5. Australia & New Zealand
10.3.6. Rest of Asia-Pacific
10.4. Rest of the World
10.4.1. Middle East
10.4.3. South America
Chapter 11. Trace Minerals In Feed Market – Company Profiles – (Overview, Product Portfolio, Financials, Developments)
11.1. Company 1
11.2. Company 2
11.3. Company 3
11.4. Company 4
11.5. Company 5
11.6. Company 6
11.7. Company 7
11.8. Company 8
11.9. Company 9
11.10. Company 10
Every order comes with Analyst Support
We offer customization to cater your needs to fullest
We value Integrity, quality and authenticity the most