Global Animal Feed Organic Trace Minerals Market is anticipated to expand robustly through 2032 owing to the surging popularity of animal-sourced food products including dairy items, meat, as well as eggs.
The rise of the animal feed industry continues to be boosted by the development of the livestock sector, especially the swine, poultry, and aquaculture. Also, the application of precision farming methods and the creation of novel feed ingredients and technology are assisting in the improvement of feed consumption and the reduction of feed costs, which is enabling consumers and farmers to access livestock feed more easily.
Moreover, the leading companies in the industry are actively investing in R&D initiatives to enhance product development. Additionally, the surging tech innovations in the manufacturing of animal feed products will boost market expansion.
The animal feed organic trace minerals market has been divided in terms of mineral, livestock, and region.
Based on mineral, the manganese segment is slated to grow at more than 2.5% CAGR from 2023 to 2032. The demand for manganese in animal nutrition became apparent when breeding hens were lacking in manganese. It resulted in generating chick embryos with deformed skeletons and two chicken diseases, nutritional chondrodystrophy, and perosis. The diseases were prevented by administering manganese supplements, which in turn made manganese an important element while producing animal feed.
With respect to livestock, the beef segment is poised to garner strong market expansion through the review years, attributed to the surging consumption of beef delicacies across the world. The upsurge in beef consumption is estimated to be driven by rising consumer affordability. As per statistics based on Trade Data Monitor, FAO, the bovine meat consumption in the world was speculated to record whopping 73.9 million tons in 2022, depicting a 1.4% rise from 2021. Also, a change in consumer preferences in favor of processed foods that are ready to eat will help foster segmental growth.
From the regional perspective, the Middle East & Africa animal feed organic trace minerals market is projected to grow at more than 5% CAGR from 2023 to 2032. The region boasts a strong demand for poultry meat owing to its growing population and the shortage of farmland. This will increase the need for organic trace minerals for animal feed in the MEA region.