Animal Feed Organic Trace Minerals Market

Global Animal Feed Organic Trace Minerals Market Size (2024 to 2029)

The animal feed organic trace minerals market growth is expected to grow at a CAGR of 8.9% during the forecast period, reaching USD 1,204.88 million by 2029 from USD 786.69 million in 2024.

Penetration of highly advanced technology and a rising focus on developing innovative products are major factors ascribed to produce potential growth opportunities for the animal feed organic trace minerals market. Research activities show that the relative bioavailability of trace minerals will help produce effective animal nutrition. Organic trace minerals in animal feed play a crucial role in lowering the risk of common infectious diseases in animals by improving the immune system. The products may vary according to the formation ratio of the elements, but the final supplement will show effective results on the animal's growth and increase health quality.   

Global Animal Feed Organic Trace Minerals Market Drivers: 

The demand for dairy products, meat, and aquaculture is increasing with the growing population worldwide. The increasing prominence of the chicken and red meat consumption rate is solely prompting the growth rate of the animal feed organic trace minerals market. According to the United Nations Food and Agriculture, 36% of pork, the most widely eaten meat in the world, is consumed annually, followed by poultry at 33% and beef at 24%. The prominence of improving the quality of foods by developing organic food products instead of synthetic-based processes is greatly influencing the market's growth rate. The growing prominence of healthy food products by consuming high-protein food products that are available in the meat industry is escalating the market's growth rate.

The veterinarian's nutritional values play an important role in improving the quality of the animals or poultry, which is why the demand to provide high-quality nutritional-based feed for animals is becoming more prominent daily. Pet owners focus on providing maximum care for their pets to improve life expectancy and prevent health-related issues. This attribute is also expected to promote the growth rate of the market.

Increasing awareness to provide highly nutritious food for optimum production rate will likely propel the organic trace minerals market of animal feed. Animal feed solutions consider all the aspects like feed intake, gut environment, and digestion. All these aspects are highly important for animal growth and good health, providing highly nutritious food.

Increasing incidences of infectious diseases like avian influenza and others are anticipated to fuel the market's growth rate. Infectious diseases are a major concern worldwide that pose major threats to animals at a higher rate, which is ascribed to fuel the need to adopt animal feed additives produced through organic trace minerals.

Global Animal Feed Organic Trace Minerals Market Restraints: 

However, fluctuations in the availability of the raw materials are proportionally increasing the price of the end products, which is inclined to pose negative results on the growth rate of the animal feed organic trace minerals market. The availability of raw materials depends on imports and exports, where strict regulation on exchange duties will affect the demand for raw materials. High-cost maintenance is also a factor impeding the market value to an extent. Organic trace minerals are generally environmentally friendly and allow mineral-enriched animal products to be obtained. Still, the easy availability of alternate products at lower prices limits the market size. 

Penetration of highly advanced technology and a rising focus on developing innovative products are major factors ascribed to produce potential growth opportunities for the animal feed organic trace minerals market. Research activities show that the relative bioavailability of trace minerals will help produce effective animal nutrition. Organic trace minerals in animal feed play a crucial role in lowering the risk of common infectious diseases in animals by improving the immune system. The products may vary according to the formation ratio of the elements, but the final supplement will show effective results on the animal's growth and increase health quality. Stringent rules and regulations by the government in approving the new launch of animal feed products are one of the challenges for the market's key players. Also, the delay in the approvals for innovative products by government organizations due to long procedures is inhibiting the growth rate of the animal feed organic trace minerals market. Also, a lack of proper knowledge in providing the correct dosage of the organic trace minerals in animal feed will negatively affect the animal's health and may lead to death. This factor is also likely to hinder the market share.

Impact of COVID-19 on the Animal Feed Organic Trace Minerals Market: 

COVID-19 devastated the growth rate of the market in an unprecedented way. The demand for chicken and meat consumption rates drastically decreased due to logistical hurdles that disrupted the supply chain. The economic crisis and increased expenditure on healthcare caused the market share to decline in 2020. However, the world is set to have a pre-COVID-like COVID-like situation where all activities are resumed, which is ascribed to bolster the market's growth rate in the coming years. Growing prominence to intake high protein food with meat consumption significantly prompts the demand for the organic trace minerals market in animal feed. The global consumption of meat proteins is expected to increase by 14% over the next decade to the base of 2020.

REPORT COVERAGE:

This research report on the global animal feed organic trace minerals market has been segmented and sub-segmented based on Product, application, and region.

Global Animal Feed Organic Trace Minerals Market - By Product:

• Zinc
• Iron
• Copper
• Selenium
• Others

The zinc segment is leading with the dominant market share, with the growing prominence of adding zinc as a dietary supplement to increase the overall immune system of animals. Zinc improves the immune systems and plays an important role in preventing risks due to uncommunicable diseases. The iron segment is next in ruling the prominent market share. Iron is also an essential supplement in supplying oxygen to the blood and maintaining strength in the muscles and tissues. Lack of iron nutrients in the feed may lead to severe issues like anemia, for which the demand for iron supplements in animal feed is growing steadily. The copper segment will likely have a prominent growth rate during the forecast period.

Global Animal Feed Organic Trace Minerals Market - By Application:

• Dairy Cattle
• Poultry
• Horses
• Pigs
• Others

The dairy cattle segment is gaining traction in holding the significant animal feed organic trace minerals market. Increasing demand for the supply of milk production across the globe is a major factor for the segment to grow eventually. Low-quality feed for cattle will lead to low protein deficiency, leading to less quality and quantity of milk. Hence, providing effective feed with nutrients is highly important and is ascribed to fuel the growth rate of this segment.

Global Animal Feed Organic Trace Minerals Market – By Region: 

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Asia Pacific is thriving with the largest share of the animal feed organic trace minerals market, with the growing prominence of the production of meat and dairy products to fulfill the demand for the growing population in emerging countries like India and China. The presence of key players is also one of the major factors for the market to grow during the forecast period. For instance, Cargill, a global leader in animal nutrition solutions, offers many products such as Purina, Acco, LNB, Provimi, and others, owning over 30 animal nutrition factories in China alone. China stands first in launching innovative products with its effective research and development activities in cattle feed that enhance the growth rate of the organic trace minerals market for animal feed. The demand for cattle feed and poultry feed is growing appropriately in India. The government authorities are greatly investing in developing organic-based food products for the animals to increase the product value, greatly enhancing the growth rate for the animals in India.

Following Asia Pacific, the North American animal feed organic trace minerals market is leading the prominent growth share. The United States is one of the largest countries providing quality livestock feed, with around 5800 animal feed manufacturing facilities. Government officials impose strict norms to provide only quality feed to the livestock to help ensure healthy animals. According to the United States Department of Agriculture (USDA), the companies are certified to provide high-standard feed products for the animal's well-being.

Europe is deemed to hit the highest CAGR by the end of 2029 with the increasing per capita income. The Food and Agriculture Organization (FAO) integrated with the European Union to accelerate the production of sustainable animal food systems. Therefore, increasing support from these organizations is highly prompting the growth rate of the animal feed organic trace minerals market.

KEY MARKET PLAYERS: 

Major Key Players in the Animal Feed Organic Trace Minerals Market are Alltech Inc., Archer Daniels Midland Co., Biochem, Tanke International Group, Cargill Inc., Kemin Industries Inc., Mercer Milling Co. Inc., Novus International Inc., Nutrco NV, Pancosma SA, Royal DSM NV, Zinpro Corp

RECENT HAPPENINGS IN THE MARKET: 

In 2022, Alltech Inc. inaugurated its eighth facility in Vietnam for trace mineral production, focusing on animal nutrition. The facility is set to produce high-quality animal feed products with bioplex minerals, known as organic trace minerals. Twenty-one years of research in bioplex minerals was conquered to deliver the best animal products that are effective in supporting animal health.