The global animal feed organic trace minerals market size is expected to reach USD 880.2 million by 2025, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 8.4% during the forecast period. Increasing R&D investments by manufacturers like Alltech and Archer Daniels Midland Co. to reduce the manufacturing cost and to expand the product application is estimated to boost overall growth.
Minerals used in traces perform specific functions in different animals. For instance, zinc helps the formation of eggshell and eggshell membrane in poultry. Manganese helps in synthesis of fatty acids and cholesterol and formation of melanin in poultry, while copper helps hatchability and fertility of eggs.
However, regulations regarding restricting the use of zinc and copper in animal feed have resulted in promoting the use of these minerals in combination with amino acids, further estimated to fuel overall market growth. Asia Pacific is estimated to account for the largest market share in 2025 owing to growth of meat industry and high demand from countries such as China and India.
However, Europe and North America are also expected to have a positive impact on growth of the animal feed organic trace minerals market. As per the International Feed Industry Federation (IFIF), commercial production of feed takes place in over 130 countries and produces a maximum annual turnover every year. Emerging animal feed industry is estimated to play a major role in the market growth over the forecast period.
Further key findings from the report suggest:
- Zinc accounted for 35.60% of total market share in U.S. in 2018 and is estimated to expand at a healthy CAGR over the forecast period owing to its properties to improve the immunity of animals
- Iron is the second largest product segment and is estimated to expand at a CAGR of 7.8% in the forthcoming years to come owing to rising awareness regarding imbalance in tissue metabolism caused due to iron deficiency
- Poultry sector is estimated to expand at a healthy CAGR over the forecast period owing to rising demand for animal protein sources and technological developments for better vaccinations to animals
- Pork segment is estimated to expand at a CAGR of 7.4% during the projected period owing to rising demand for high-quality pork, growth in consumption, and the product being a rich source of protein
- Alltech; Cargill Inc.; Biochem; and Archer Daniels Midland Co. are some of the major manufacturers operating in the animal feed organic trace minerals market. These companies, through strategic initiatives such as expansions, investments, and partnerships, try to expand their market share and global presence