Animal Feed Organic Trace Minerals Market Size, Share & Trends Analysis Report By Product (Zinc, Iron, Copper, Selenium), By Application, By Region, And Segment Forecasts, 2024 - 2030

Animal Feed Organic Trace Minerals Market Size, Share & Trends Analysis Report By Product (Zinc, Iron, Copper, Selenium), By Application, By Region, And Segment Forecasts, 2024 - 2030

Animal Feed Organic Trace Minerals Market Growth & Trends

The global animal feed organic trace minerals market size is anticipated to reach USD 1,244.6 million by 2030 and is anticipated to expand at a CAGR of 7.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growth of the market is fueled by the rising popularity of water-soluble natural feed additives, the expanding animal feed industry, and the increasing demand for meat & dairy products worldwide.

Zinc dominated the market in 2023 which is attributed to the use of zinc in feed to improve the immunity and metabolism of animals. The zinc segment was valued at USD 246.1 million in 2023 and is expected to reach USD 422.6 million by 2030, growing at a CAGR of 8.3% over the forecast period.

The poultry application segment accounted for the largest revenue share, 43.6% of the market in 2023, owing to the growing demand for animal protein sources in the U.S., China, etc.

Asia Pacific region dominated the market in 2023 which is attributed to the presence of stringent regulations in the region to improve animal health and productivity, along with a robust demand for high-quality meat and dairy products. The market in the region was valued at USD 284.7 million in 2023 and is expected to reach USD 482.4 million by 2030, growing at a CAGR of 8.1% over the forecast period.

Animal Feed Organic Trace Minerals Market Report Highlights

• Based on product, Zinc segment dominated the market with a market share of 32.8%, in 2023. The growth is attributed to the use of zinc in feed to improve the immunity and metabolism of animals
• Based on application, the poultry segment dominated the market with a market share of 43.6%, in 2023. The growth is attributed to the growing demand for animal protein sources from the U.S., China, etc.
• In April 2024, Starting May 1, 2024, Alltech became the distributor and importer of Agolin products in the U.S. and Canada. The company’s high-quality essential oil blends are scientifically proven to improve feed intake and performance, resulting in enhanced milk and meat production in ruminants and non-ruminants.

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