Global Animal Feed Organic Trace Minerals Market - 2022-2029

Global Animal Feed Organic Trace Minerals Market - 2022-2029

Market Overview

The global animal feed organic trace minerals market was valued at USD XX million in 2021. It is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

Organic trace elements are usually used in small amounts to improve food / feed quality. Trace elements play an important role in animal health. If the diet contains trace elements, the will be high. Organic trace minerals are preferred over inorganic trace minerals absorption rate because of their health benefits and their impact on feed palatability. The increasing incidence of various infectious diseases, especially in poultry, raises awareness among farmers and feed manufacturers of the importance of optimal animal nutrition. Rising demand from end-users owing to rising awareness regarding the harmful effects of consuming inorganic trace minerals containing heavy metal contaminants is predicted to drive the growth of organic trace minerals.

Market Dynamics:

Organic trace elements in animal feed are predicted to provide benefits such as improved immunity and animal metabolism, resulting in a market growth.

A key driver of the growth of global organic trace minerals for the animal feed market is the health benefits of trace animals. Organic trace elements also play an important role in the metabolic health of animals as they also support enzymatic reactions. Cobalt, for example, helps in the synthesis of vitamin B12 and the activation of enzymes. This prevents loss of appetite and improves hatchability and high embryo mortality. Similarly, organic magnesium may address issues such as reduced egg production and reduced skeletal system recruitment. The various health benefits of organic trace minerals encourage breeders to feed animals with organic trace minerals. The various health benefits of organic trace minerals are set to promote global organic trace minerals for the animal feed market in the coming years. Furthermore, the most significant drivers driving the growth of this market are expected to be the predominance of high-quality feed in animal nutrition, expanding demand for meat and dairy products, and increased mineral consumption for better metabolic processes.

Market Segmentation:

The iron segment accounted for the highest share in the animal feed organic trace minerals market

Iron is one of the most important minerals need by body to function properly. It is available in the form of oxides and carbonates, as iron cannot be assimilated in the form of its elements. As additional iron supplements, red iron oxide, yellow iron oxide, iron sulphate, and iron carbonate are used. In recent years, iron compounds have been approved. Iron is an important factor in feed, as livestock species are most commonly iron deficient and have been shown to cause oxidative stress and anemia. Due to high regulatory acceptance, iron as a trace element in the feed market is expected to show high growth rates over the projected period.

Poultry, horses, dairy cows, and pigs are among the application segments. During the projected period, the poultry industry is expected to develop at the quickest compound annual growth rate, accounting for more than XX percent of total market share. This industry is predicted to increase due to rising demand for animal protein sources and better animal vaccinations. The increasing focus on consuming animal protein in the daily diet is one of the preliminary aspects that has led to segment growth. The demand for white meat and eggs is increasing, and the need to increase livestock production is increasing.

Geographical Penetration:

Asia-Pacific is the dominating region during the forecast period

APAC had the highest demand for organic trace minerals in animal feeds due to the growing demand in the region and the presence of major manufacturers, in addition to the growth of the meat industry. China is a major consumer and has led the Asia Pacific region over the forecast period. Demand for meat protein is increasing in the Asia-Pacific region, especially in China, India, Malaysia, and Thailand, where rapid economic growth is seen. This increased demand for meat protein has led to increased feed intake of organic trace elements and meat production in the region, which is expected to show significant growth rates. In addition to improving nutritional value, the presence of organic trace elements in the region is becoming more important as it helps improve meat quality by eliminating harmful inorganic options.

Competitive Landscape:

The global organic trace elements in the animal feed market are fragmented and dominated by several small and medium-sized regional and local businesses. Companies are increasingly expanding their market presence, conducting M & A, maintaining relevance, and growing in the global market. The leading players of organic trace elements in the animal feed market are Alltech, Inc, Royal DSM, Archer Daniels Midland Company and VamsoBiotec Pvt. Ltd., Novus International, Inc., Pancosma SA, Cargill, Biochem, and Nutreco N.V. In January 2021, Cargill opened the world's largest pet food and premix facility in Ohio, USA. The facility has a production capacity of 154.00 tons of non-medical animal nutrition products and premixes for poultry, livestock, and pets. In March 2017, Archer Daniels Midland Company introduced the growth of its animal feed enterprise in China with investments in new feed-premix facilities. This facility additionally had the supply for the manufacturing of aquafeed, similarly increasing its product portfolio.

COVID-19 Impact:

Positive impact on the global animal feed organic trace minerals market

The impact of COVID19 on feed consumption had a direct impact on meat and livestock products, as well as by-products such as milk and eggs. This is mainly due to restrictions on feed supply, as many factories have been closed and most major countries have been completely closed. In addition, the fear of the virus (COVID19) infecting humans has increased consumer skepticism about the consumption of poultry products. As a result, global demand for animal feed has declined. However, trace elements such as zinc are essential for the optimal health of the diet of animals and humans. The trace elements selenium, copper, manganese, and zinc are required by the body and play a role in animal adaptability and innate immunological processes. Fédération Européenne Des Fabricants D`aliments Composés (FEFAC) encouraged the EU Commission to include animal feed as an essential commodity in EU-COVID 19 regulation. This is essential to maintain the proper functioning of the animal feed supply chain and avoid essential shortages. In addition, with the global decline in COVID cases, the situation is improving, the market is gaining momentum, and will expand during the forecast period. Therefore, it is estimated that the market after COVID 19 will grow at a considerable pace.

Why Purchase the Report?

Understand the current market scenario and viability of global animal feed organic trace minerals market over the forecast period.

Visualize the composition of the global animal feed organic trace minerals market terms of type, form, and application to identify major players, growth potential, and market strategies.

Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period.

Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market

What we offer?

PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study

Excel data sheet with valuable data points of the global animal feed organic trace minerals market– Regional and Country level segmentation

Product mapping in excel for the key products of all major market players

Market Share Analysis covering business revenues ($) and revenue share (%) of key market players

The global animal feed organic trace minerals market report would provide an access to approximately 60 market data tables, 55 figures and 180 pages

Target Audience:

Animal Feed Manufacturers

Farming Communities

Import and Export Companies

Industry Investors

Education & Research Institutes

Research Professionals