Trace minerals provide the essential nutrients animals need for metabolic functions such as growth and development, immunity and reproduction. Even moderate deficiencies can adversely impact animal performance.
Trace Minerals in Feed Market is expected to project a notable CAGR of 5.3% in 2030.
Trace Minerals in Feed Market to surpass USD 712 Million by 2030 from USD 470 Million in 2018 at a CAGR of 5.3% throughout the forecast period, i.e., 2019-30. Trace minerals in animal feed is expected to increase as nutritional awareness among farmers increases thus boosting the market. It is expected that knowledge of trace minerals and their roles would increase the demand for trace minerals in animal feed. Demand in Asia Pacific is expected to be strong due to large portions of cultivated land. Factors such as the increase in compound feed production and the rise in the value of diets rich in protein among consumers worldwide have opened new avenues for trace minerals in the feed industry. China, the US, Brazil, Mexico, Spain, India and Russia are the world's main feed-producing countries. This is where the market for chicken and red meat has risen. This has led to the development of the demand in these countries as well.
Trace Minerals in Feed Market: Segments
Iron segment to grow with the highest CAGR during 2019-30
Trace Minerals in Feed Market is segmented by Type as Iron, Zinc, Manganese, Copper, Cobalt, Chromium and Other. The Iron segment in Trace Minerals in Feed held the largest revenue share of XX.X% in 2019 as Iron is one of the most important minerals required for the optimum functioning of the body. Iron cannot be ingested in its elemental form; thus, it is available in the form of oxides and carbonates as additional alternatives to iron, red iron oxide, yellow iron oxide, ferrous sulphate and iron carbonate are used. In recent years, ferrous compounds have been approved. Since livestock species are most commonly affected by iron deficiency, oxidative stress and anaemia are caused by this, iron is therefore an essential element to be included in the feed. The demand for iron as a trace mineral in feed is projected to see a high growth rate during the forecast period due to its higher acceptance among regulatory bodies.
Dry Segment to grow with the highest CAGR during 2019-30
Trace Minerals in Feed Market is segmented by foam into dry and liquid. The dry segment accounted for the highest revenue share of XX.X% in the Trace Minerals in Feed market. This is because mineral products in the dry form are able to sustain climatic conditions and have higher stability. In addition, the hygienic supply and feeding method of these ingredients is comparatively easy to handle. There are other factors that increase the use of chelated trace minerals in dry form among feed producers, in addition to the convenience of using dry mineral additives, such as low bulk weight, storage, transport, relatively high stability, high production capacity and low manufacturing costs. Dry powders often have a low moisture content, thus reducing the rate of deterioration of consistency. Dry powders can also be kept longer than other types of goods over a longer period of time. The liquid type, however, is seen at a comparatively rapid rate, as it helps to deliver minerals reliably, which is ideal for livestock's nutritional needs.
Trace Minerals in Feed Market: Market Dynamics
Increasing Worldwide Meat and Fish Consumption
There has been a marginal effect of the global economic downturn on the global meat industry, which has retained its optimistic outlook. The Asia-Pacific and South American regions are projected to see the highest growth in meat consumption due to shifting diet habits, urbanisation, population and economic growth. According to Agriculture and Agri-food Canada, for example, Chinese demand for meat continues to exceed domestic supply. Fish are low in fats, carbohydrates, and cholesterol, and are quite strong in protein. They also include vitamins and amino acids that are important. As more and more people become aware of the health benefits of fish consumption, these factors contribute to an increased global demand that is growing rapidly. The growth of the world's meat and seafood industry is also supported by growing population patterns globally. The use of trace elements in animal feed is promoted by the life expectancy and the limited availability of land and water supplies for the production of animal feed which is driving the market globally.
Stringent regulatory framework
Regulatory specifications for different feed additives have been defined by regulatory bodies such as the European Commission and the U.S. Department of Agriculture (USDA). Over the years, thresholds have been lowered for critical minerals, such as zinc, copper, and manganese. Minerals, such as selenium and chromium, however, were used in the upper limits, which remained constant. There have been numerous changes to the legal maximum allowable zinc content in livestock feed. The overall allowable limit (MPL) has been modified, in compliance with the new rules, to 180 mg/kg for salmonids and to 120 mg/kg for other species and categories.
Trace Minerals in Feed Market: Key Players
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence and SWOT Analysis.
Trace Minerals in Feed Market: Regions
Trace Minerals in Feed Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC and MENA.
Trace Minerals in Feed Market in Europe held the largest market share of 50.7% in the year 2018. The widespread use of trace minerals in European animal nutrition is due to the European Commission's focus in the early stages of growth on reducing input costs and improving animal health. In animal nutrition, the use of trace minerals depends on factors such as cost-effectiveness, availability, policies and regulations. The favourable conditions laid down by the European Commission, such as the rules relating to the use of feed materials, feed hygiene standards and regulations relating to undesirable substances in feed, have had a positive effect on the feed industry, which is expected to boost the growth of trace minerals in the feed sector in Europe.
The Trace Minerals in Feed market, which is highly competitive, consists of several major players such as Cargill, Incorporated (US), Archer-Daniels-Midland Company (ADM) (US), BASF SE (Germany), Bluestar Adisseo Co., Ltd (China), Koninklijke DSM N.V. (Netherlands), Nutreco N.V. (Netherlands), Alltech (US), Zinpro (US), Orffa (Netherlands) hold a substantial market share in the Trace Minerals in Feed market. Other players analyzed in this report are Novus International (US), Kemin Industries, Inc. (US), Lallemand, Inc. (Canada), Virbac (France), Global Animal Nutrition (US), Dr. Paul Lohmann Gmbh & Co. KGAA (Germany), Biochem Zusatzstoffe (Germany), Veterinary Professional Services Ltd. (Vetpro) (New Zealand), Chemlock Nutrition Corporation (US), dr. eckel animal nutrition gmbh & co.kG (Germany) among others.
The market competition has been stepped up by the availability of many players offering Trace Minerals in Feed. For Instance, In April 2019, Zinpro Corporation had launched ProPath LQ in the US market for use in liquid applications in all-species. ProPath-LQ delivers trace mineral uptake and absorption, biological efficacy, diet flexibility, and consistency in applications where solubility is critical.
Trace Minerals in Feed Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
Trace Minerals in Feed Market report also contains analysis on:
Trace Minerals in Feed Market Segments:
By Chelate type:
Trace Minerals in Feed Market Dynamics
Trace Minerals in Feed Market Size
Supply & Demand
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
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