The trace minerals in feed market is on a steady growth trajectory, with a projected Compound Annual Growth Rate (CAGR) of 5.4% during the forecast period. Sales of trace minerals in feed are expected to rise from US$ 552.67 billion in 2023 to US$ 926.04 billion by 2033. This growth is driven by increasing demand for organic and natural animal products, prompting producers to prioritize clean and healthy trends in animal nutrition.
The demand for trace minerals in feed is fueled by several factors, including the quest for clean animal products, regulatory advocacy for specific minerals like iron, and the rising global demand for red meat and poultry. Livestock producers prioritize the health and well-being of their animals, leading to a growing preference for trace mineral supplementation in feed to address metabolic issues, anemia, and other health concerns.
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Growing Factors:
- Preference for Iron-based Trace Minerals: Iron-based trace minerals remain dominant in the market due to their role in preventing metabolic issues and promoting overall animal health. Regulatory bodies advocate for the use of iron in feed, further driving demand.
- Hygienic Perception of Dry Form: End-users prefer dry trace mineral supplements over liquid forms, perceiving them to be more hygienic. This preference influences producers’ decision-making and drives sales opportunities in the feed market.
- Increasing Relevance of Animal Nutrition: The importance of animal nutrition in livestock production is gaining recognition, contributing to the growing demand for trace minerals in feed. Producers focus on providing balanced diets to improve animal health and productivity.
China’s demand for meat, for example, continues to outstrip domestic supply, according to Agriculture and Agri-Food Canada. Fish is high in protein and low in fat, carbs, and cholesterol. They also include vital vitamins and amino acids. As more people become aware of the health benefits of eating fish, these factors contribute to a fast-increasing global demand.
The worldwide meat and seafood sector is also expanding due to changing population patterns. The use of trace elements in animal feed is encouraged by life expectancy and the limited availability of land and water supplies to create animal feed, which drives the global market.
Key Takeaways
- Trace minerals in feed market is expected to record a CAGR of 5.4% during the forecast period 2023 to 2033.
- Key causes such as increased feed consumption, increased demand for animal protein in human diets, growth of the meat and meat products industries, a trend towards natural growth promoters, and an improvement in trace mineral bioavailability have all contributed to the trace minerals market’s expansion.
- Asia Pacific dominated the trace minerals in feed market.
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Key Development in the Trace Minerals in Feed Market
- March 2019 – Zinpro Corporation launched a high-quality selenium performance trace mineral-Availa Se-for the European Union. (EU). Zinpro now provides Availa-Se (zinc-L selenomethionine), another unique product with excellent performance in the EU market.
- July 2020 – Kemin Industries is planning to establish a presented architectural design for a new quality control laboratory (QC lab) at its global headquarters in Des Moines, Iowa. Kemin’s outstanding analytical skills ensure that potential production activity and product specificity are maintained.
- September 2020 – Bluestar Adisseo Firm purchased the Dutch feed additive company Framelco Group. The company’s strategy is to contribute to expanding the specialty product category to become a market leader in the specialty feed ingredients industry for animal nutrition.
- July 2020 – Archer-Daniels-Midland Company (ADM) launched NutirPass L, an encapsulated supplement that is stable in the rumen and intestinally available to cows. For breastfeeding cows and growing cattle, the supplement provides regular and stable lysine.
- March 2020 – Alltech announced its relationship with aquafeed nutrition startup Corey Nutrition. This acquisition aims to provide the aquaculture business in North America with innovative feed options that increase production and efficiency.
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Key Segment
By Type:
- Zinc
- Copper
- Cobalt
- Manganese
- Iron
- Chromium
- Others (iodine and selenium)
By Livestock:
- Poultry
- Ruminant
- Swine
- Aquaculture
- Others (equine and pets)
By Chelate Type:
- Amino acids
- Proteinates
- Polysaccharides
- Others (propionates and peptides)
By Form:
- Dry
- Liquid
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East and Africa
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