The global Trace minerals in feed market is estimated to be valued at USD 472 million in 2020. It is projected to reach a value of USD 608 million by 2025, growing at a CAGR of 5.2% during the forecast period. Due to Increase in the bioavailability of trace mineral, growing market for specialty feed ingredient, and the shift toward natural growth promoters (NGPs) due to the increase in awareness pertaining to feed and food safety drives the market for trace minerals in feed.
“The market for iron projected to grow at the highest CAGR between 2020 and 2025.”
The iron segment is the most dominant as well as fastest growing type of mineral in the trace minerals in feed market. Iron is considered the main constituent in the formation of hemoglobin and myoglobin, as it supports the transport of oxygen to all parts of the body. The deficiency of iron causes stunted growth, pale mucous membranes, anemia, and diarrhea in livestock. Common sources of iron include fish, meat, cereal by-products, oilseed meals, blood meal, fishmeal, meat meal, spinach, and broccoli. Oxides and carbonates are rare forms of iron availability. Red iron oxide, yellow iron oxide, ferrous sulfate, and iron carbonate are used as additional supplements for iron. In recent years, several ferrous compounds have been approved for use as an additive in feed products which is aiding the growth of the market.
“The poultry segment is projected to grow at the highest CAGR between 2020 and 2025.”
The poultry segment accounts for the largest share and is also projected to grow at the fastest rate during the forecast period. In 2019, the global poultry market increased significantly. The countries with the highest volumes of poultry consumption in 2019 were China, the U.S, and Brazil, with a combined 40% share of global consumption. These countries were followed by Russia, Mexico, India, Japan, Indonesia, Iran, South Africa, Malaysia, and Myanmar, which together accounted for a further 21%. There is a significant increase for poultry meat therefore people are engaging in poultry farming and animal rearing to fulfil this demand. This has eventually caused a rise in demand for animal feed in the market.
The most effective way to achieve the highest production is to supply these birds with chelated organic trace minerals, such as zinc, copper, and manganese, to increase their performance, which has led to an increase in demand for trace minerals. Trace minerals are indispensable components in poultry diets. They are required for the growth, bone and feather development, and enzyme structure. The immune functions of all poultry species depend on trace minerals. This drives the growth of trace minerals in feed market across the globe.
“Amino acid segment is projected to grow at the highest CAGR between 2020 and 2025.”
The amino acids segment accounted for the largest market share in 2019. As using micro or trace minerals in the amino acid chelate form is the most efficient way to optimize the feed supplements and provide animals with the maximum nutritional benefits possible. Amino acids are considered an ideal chelator due to their ability to be easily absorbed in the animal body. This is due to the attachment of amino acids to the mineral molecules that create a more stable structure, which helps the minerals survive in the acidic environment of the stomach. Furthermore, trace minerals are protected from various bacteria present in the body of animals, and enzymes are unable to degrade it. It also inhibits the antagonistic action between metal ions and decreases the breaking down of vitamins in the feed. Due to these factors amino acids is the most dominant segment as well as the fastest growing segment in the trace minerals for feed market.
“The liquid segment, projected to grow at the highest CAGR between 2020 and 2025.”
The liquid form is expected to grow at a higher growth rate as it helps to deliver minerals consistently, which is optimal for the nutritional requirements of livestock. The use of liquid feed products has become increasingly popular, as they provide important benefits over dry feed products in the cattle and pig production. The capacity of producers to make quick diet adjustments with liquid feed products and ease in mixing these products in new supplements at appropriate rates are some of the key factors that are also projected to drive their demand. The liquid form is witnessing a high adoption for injecting trace minerals, such as iron, zinc, chromium, and selenium, into the young livestock, which helps them gain weight at a faster rate. In addition, increased weight of animals implies high meat quantity, which results in a rise in profit for producers. This technique is most prevalent in the meat and dairy industries.
“Europe market for trace minerals in feed is projected to grow at the highest CAGR during the forecast period. “
The Trace minerals in feed market is estimated to grow significantly in the European region. The European market is one of the largest consumers of trace minerals in feed and is growing at a fastest rate. The wide-scale use of trace minerals in European animal nutrition is attributed to the European Commission’s focus on reducing input costs and enhancing animal health in the early stages of growth. increase in consumption of animal products is expected to depend on the income growth and shift in the eating habits of consumers. The increase in the consumption of meat products is projected to support the growth of the European feed trace minerals market. Other factors, such as the increase in awareness among growers about the benefits and use of trace minerals, as well as advancements in the animal industry in most regional countries, are also projected to drive the growth of the market
In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews have been conducted with the key experts.
The breakup of the profiles of primary participants is as follows:
- By Manufacturers: Tier 1 – 65%, Tier 2 – 20%, and Tier 3 – 15%
- By Designation: CXOs – 40%, Directors – 30%, Others – 30%
- By Geography: Europe – 45%, Asia Pacific – 25%, North America – 10%, South America – 5%, and RoW – 15%
Some of the major players in the market include Cargill, Incorporated (US), Koninklijke DSM N.V. (Netherlands), Archer Daniels Midland Company (US), Novus International (US), and Kemin Industries, Inc. (US). include Zinpro Corporation (US), Alltech (US), Tanke (China), Global Animal Products (US), Orffa (Netherlands), BASF SE (Germany), Bluestar Adisseo (China), JH Biotech, Inc. (US), and Virbac (France).
The report segments the trace minerals in feed market based on type, livestock, chelate type, form and region. in terms of insights, this report has focused on various levels of analyses?competitive landscape, end-use analysis, and company profiles?which together comprise and discuss views on the emerging & high-growth segments of the Trace minerals in feed high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.
Reasons To Buy the Report:
- Illustrative segmentation, analysis, and forecast pertaining to the trace minerals in feed market based on type, species, application and geography have been conducted to provide an overall view of the Trace minerals in feed market
- Major drivers, restraints, and opportunities for the Trace minerals in feed market have been detailed in this report.
- A bird’s eye view of the pricing, trade situation, technological changes, and market ecosystem have been provided in the report.
- Detailed insights into the competitive landscape has been provided for established players and start-ups in the industry.
- Breakdown of the market share of major players in the trace minerals in feed market has been provided after analyzing the segmental revenue, product portfolio, and global presence of the manufacturers