Global animal feed organic trace mineral market was worth USD 536.5 million in 2018. It is projected to grow at an 8.4% compound annual growth rate (CAGR), from 2019-2025. The market is expected to grow due to increased awareness about the negative effects of inorganic trace mineral containing heavy metal contaminants. Organic trace minerals are essential nutrients that are used in small quantities in animal feed.
Organic trace minerals are also encouraged by the increasing use of water-soluble natural food-added substances, rising meat consumption and the development of animal feed industries around the world. Global growth in meat consumption is being driven by a shift in food habits that favor animal proteins.
However, the spread of Avian Influenza (AI), a virus that causes severe illness in animals, is expected to slow down overall growth. Poultry is the most susceptible to disease outbreaks. In the United States, AI epidemics in 2015 claimed 48 million chickens and turkeys.
Manufacturers and regulatory bodies around the world face major challenges in reducing the effects of these outbreaks. Industrial development is booming because of the increased R&D to optimize specific functions of organic trace mineral. Copper can be used to improve the fertility of eggs and zinc can strengthen chicken eggshells.
The market for animal feed organic trace mineral is divided by product into zinc, copper and iron. Manganese and cobalt are other minerals. Zinc held the largest market share, with 32% of the total in 2018, and it is expected to remain at the top during the forecast period. The growth is expected to be driven by a rising demand for animal feed, which enhances immunity and metabolism.
Iron is the second-largest product segment, with an expected increase in sales at a higher than average CAGR over the next few years. It is expected that there will be a greater awareness of side effects associated with iron deficiency. Anemia can be caused by iron deficiency.
Copper is expected to grow at the fastest rate over the forecast period due to growing awareness about its importance in strengthening bone health. Due to the development of the poultry and swine industries, Europe saw the highest copper demand in 2018.
The market can be divided by application into four groups: dairy cattle, poultry and horses. The fastest growing CAGR is expected to be in the poultry sector, which accounted for more than 40% of total market share. The segment is expected to grow due to rising demand for animal protein, technological advancements, and improved vaccinations.
Pork is a good source of protein, and it is the second most consumed meat in the world. The segment is expected to expand due to rising demand for high quality pork and increased consumption. Due to rising demand for dairy products like butter, yogurt, and ice cream, the sector of dairy cattle is expected to experience the fastest CAGR during the forecast period.
North America is expected to be a major buyer of dairy cattle feed. It is projected to grow at a CAGR 4.9% over the forecast period. The dairy cattle industry has been driven by the availability of large amounts of land, technological resources, infrastructure, and other factors.
Asia Pacific held the largest market share, with 35% in 2018, and it is expected to grow at a healthy CAGR during the forecast period. APAC saw the highest demand in organic trace minerals for animal feed due to the increasing meat industry and increased demand from India and China. China is a significant consumer and led Asia Pacific in 2018.
Because of the steady demand from the applications sector, Europe and North America will also have a positive effect on future growth. Germany and Spain are the main markets for organic trace minerals in animal feed. The iron sector-led Europe market is expected to grow at a healthy rate over the forecast period.
North America will see the fastest CAGR during the forecast period. This is due to the growing demand for meat in this region's rapidly expanding food industry. Due to the high demand from the poultry and dairy cattle sectors, the U.S. dominated North America.
According to estimates, South America and Central America will have a high demand of zinc. Growing demand for eggs and poultry will drive the regional market. Due to the development of the poultry sector, the Middle East and Africa will grow at a rapid pace during the forecast period.
To increase their market share, these players added product to their portfolios via development strategies like mergers and acquisitions. The market's largest players were Alltech Inc., Archer Daniels Midland Co., Cargill Inc., and Nutreco NV.
Alltech adopted the forward integration strategy. This means that the company sells its products through only authorized outlets and eliminates middlemen and wholesalers. Archer Daniels Midland Company announced in March 2017 that it was expanding its animal feed business in China through investments in new feed-premix plants. The facility was also equipped to produce aquafeed, further expanding the product range. The following are some of the major players in the animal feed organic trace mineral market:
Australia Zinc Group
Nyrstar
Codelco
BHP Billiton Ltd.
Alltech Inc.
Archer Daniels Midland Co.
Biochem
Tanke Biosciences Corp.
Cargill Inc.
Kemin Industries Inc.
Mercer Milling Co. Inc.
Novus International Inc
Up Market Research published a new report titled “Animal Feed Organic Trace Minerals Market research report which is segmented by Application (Poultry, Horses, Dairy Cattle, Pigs), by Product (Selenium, Zinc, Iron, Copper), By Players/Companies Kemin Industries Inc, Archer Daniels Midland Co, BHP Billiton Ltd, Alltech Inc, Codelco, Mercer Milling Co Inc, Tanke Biosciences Corp, Cargill Inc, Australia Zinc Group, Biochem, Nyrstar, Novus International Inc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Animal Feed Organic Trace Minerals Market Research Report |
By Application | Poultry, Horses, Dairy Cattle, Pigs |
By Product | Selenium, Zinc, Iron, Copper |
By Companies | Kemin Industries Inc, Archer Daniels Midland Co, BHP Billiton Ltd, Alltech Inc, Codelco, Mercer Milling Co Inc, Tanke Biosciences Corp, Cargill Inc, Australia Zinc Group, Biochem, Nyrstar, Novus International Inc |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 244 |
Number of Tables & Figures | 171 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Application (Poultry, Horses, Dairy Cattle, Pigs), by Product (Selenium, Zinc, Iron, Copper).
Animal Feed Organic Trace Minerals Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Animal Feed Organic Trace Minerals Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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