Organic trace minerals play a crucial role in enhancing the health and productivity of livestock by supplementing their diets. With the global demand for food expected to increase significantly, particularly for animal protein, using organic trace minerals in animal feed is becoming increasingly important. This growth is driven by the rising demand for meat, aquaculture, and dairy products, especially in countries where chicken and red meat consumption is on the rise. As a result, the global animal feed organic trace minerals market is experiencing positive growth and development.
According to Data Bridge Market Research, Global Animal Feed Organic Trace Minerals Market is valued at USD 686.65 million in 2021 and is expected to reach USD 1,358.18 million by 2029, registering a CAGR of 8.9% during the forecast period of 2022-2029
"Growing demand for high-quality animal products surge market demand"
Growing demand for high-quality animal products, driven by consumer awareness and preferences, is a crucial driver for adopting animal feed with organic trace minerals. Organic trace minerals play a crucial role in improving livestock's health, growth, and productivity, leading to higher-quality meat, milk, and eggs. Consumers increasingly seek products that are produced using sustainable and natural methods, making organic trace minerals a preferred choice in animal feed formulations.
What restraints the growth of the global animal feed organic trace minerals market?
"High costs can impede the market growth”
The high cost of organic trace minerals is a significant restraint in the global animal feed market. Organic trace minerals involve higher production and processing costs compared to inorganic alternatives. Limited availability of organic sources further contributes to their high prices. These increased costs can challenge farmers and feed manufacturers, particularly in price-sensitive markets, limiting the widespread adoption of animal feed products containing organic trace minerals.
Segmentation: Global Animal Feed Organic Trace Minerals Market
The animal feed organic trace minerals market is segmented on the basis of product and application.
- On the basis of product, the animal feed organic trace minerals market is segmented into zinc, iron, copper, selenium, and others
- On the basis of application, the animal feed organic trace minerals market is segmented into dairy cattle, poultry, horses, pigs, and others.
Regional Insights: Asia-Pacific dominates the global animal feed organic trace minerals market
Asia-Pacific dominates the animal feed organic trace minerals market due to the significant growth of the meat industry in countries such as China, India, and Australia. The region has a large population and increasing disposable income, leading to higher meat consumption. Moreover, there is a prevalence of manufacturers and suppliers of animal feed organic trace minerals within the region, which supports the market's growth by providing a steady supply of products to meet the rising demand.
North America is poised to experience substantial growth in the animal feed organic trace minerals market due to the increasing demand for meat products and the growth of the dairy cattle sector. The region has a well-established meat industry and a high consumption rate of meat products, driving the need for enhanced animal nutrition. Additionally, the growing dairy industry in North America further contributes to the demand for organic trace minerals in animal feed to improve milk production and quality.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-animal-feed-organic-trace-minerals-market
Recent Developments in Global Animal Feed Organic Trace Minerals Market
- In 2020, Bluestar Adisseo Company purchased the Dutch feed additive manufacturer Framelco Group. Through this strategy, the company focuses on fostering the growth of the specialty product segment with the goal of dominating the market for specialized feed ingredients for animal nutrition.
- In 2020, Kemin Industries unveiled the architectural plans for a brand-new quality control laboratory (QC lab) that will be built on-site at its US headquarters in Des Moines, Iowa. Kemin ensures potential production activity and product specificity with its superior analytical capabilities.
The Prominent Key Players Operating in the Global Animal Feed Organic Trace Minerals Market Include:
- Cargill, Incorporated (U.S.)
- ADM (U.S.)
- BASF SE (Germany)
- Bluestar Adisseo Co., Ltd (China)
- DSM (Netherlands)
- Nutreco (Netherlands)
- Alltech (U.S.)
- Zinpro Corp (U.S.)
- Orffa (Netherlands)
- Novus International (U.S.)
- Kemin Industries, Inc. (U.S.)
- Lallemand, Inc. (Canada)
- Virbac (France)
- Global Nutrition International (U.S.)
- Dr. Paul Lohmann Gmbh & Co. KGAA (Germany)
- Biochem Zusatzstoffe Handels (Germany)
- Merck & Co., Inc. (U.S.)
- Chemlock Nutrition (U.S.)
- Biorigin (Brazil)
- Tanke (China)
- JH Biotech, Inc. (U.S.)
- QualiTech (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global animal feed organic trace minerals market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Animal Feed Organic Trace Minerals Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
