Animal Feed Organic Trace Minerals Market Size
Driven by the increasing demand for meat products, Animal Feed Organic Trace Minerals Market size over USD 700 million in 2022 and is anticipated to record over 6.5% CAGR between 2023 and 2032.
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Growing demand for protein-rich foods such meat, dairy products, and eggs—which is helping the animal feed industry grow—is driven by rising prosperity in developing countries and population increase. Research by the Organization for Economic Cooperation and Development (OECD) indicates that by 2031 global per capita meat consumption is expected to level at around 35.6 kg/year in r.w.e. Moreover, the implementation of precision farming methods and the creation of new feed components and technology help to increase feed efficiency and reduce prices, therefore enabling animal feed availability to consumers and farmers.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Animal Feed Organic Trace Minerals Market Size in 2022 | USD 700 Million |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 6.9% |
| 2032 Value Projection | USD 1,350 Million |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 345 |
| Tables, Charts & Figures | 365 |
| Segments covered | Mineral, Livestock, and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
High production costs and associated R&D expenses to restrain the industry growth
Applied as inorganic mineral replacements, organic trace minerals are more efficient than inorganic ones. Product demand is rising with the increasing bioavailability. But for animal feed, organic minerals cost more than inorganic ones, which reduces commercial demand. Later on, some companies suggest mixing organic and inorganic trace minerals even if the increasing production rates are reducing running costs, which will probably enable them to overcome this limitation.
Animal Feed Organic Trace Minerals Market Analysis
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The dairy sector is starting to see increasing demand for animal feed with organic trace minerals. Up until 2032, it is predicted to rise by 7% annually. This is so because cows lacking sufficient protein from their diet depend on these minerals. Moreover, since they can afford it, more individuals are consuming milk and other dairy products. Like in New York, where the Commissioner of Agriculture is striving to strengthen the state's dairy business, governments are also supporting the dairy sector.
Rising product demand to prevent negative consequences related to zinc deficiency, such as anorexia, skin and appendage abnormalities, skeletal diseases, and reproductive problems in animals, estimates the animal feed organic trace mineral market from the zinc segment to reach USD 680 million by the end of 2032. Moreover, companies and researchers are funding R&D to increase the dosages of zinc oxide in animal feed, which is expected to favorably affect the market growth, even while dietary intake of essential elements has shown possible advantages that all farmers seek for the production of healthy livestock.
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By 2032, the market for organic trace minerals for Europe animal feed is expected to be USD 445 million. Thanks to modernity, creative technology, and advancements in agricultural techniques that result in more effective and environmentally friendly meat production, the European food system has become a reliable supplier of nutritious, safe, and high-quality food on a worldwide scale. Furthermore, Europe has seen a surge in aquaculture feed consumption and strong demand for chicken meat due to its healthy image compared to other meats, ease of preparation, lack of religious constraints, and reasonably cheaper pricing, which is expected to push the market advancement.
Animal Feed Organic Trace Minerals Market Share
Some of the major companies operating in the animal feed organic trace minerals market are
- Zinpro Corporation
- Mercer Milling Company, Inc.
- Archer Daniels Midland Company
- Alltech, Inc
- Ridley, Inc.
- Phibro Animal Health Corporation
- Novus International, Inc.
- Davidsons Animal Feeds
- Cargill
These enterprises are investing in R&D initiatives to explore the scope of applications of organic trace minerals in animal feed.
For instance, in January 2022, the Archer Daniels Midland Company announced the launch of its first scientific and research facility in China. The center was designed to encourage high-quality growth in the nutrition & health sector and to meet prevalent consumer demands in APAC.
Impact of COVID-19 pandemic
Strict lockdowns and traffic restrictions brought about by the COVID-19 epidemic greatly affected the animal feed supply chain, therefore reducing the provision of services related to animal husbandry, and hampered access to markets and consumers. The high COVID cases in China, a key producer of organic soybeans, impacted the worldwide manufacturing of organic feed. The coronavirus epidemic had a significant effect on the market for animal feed protein components even although demand for animal feed stayed rather constant. But government-mandated lockdowns drove farmers to panic buy animal feed, therefore increasing the market earnings..
This animal feed organic trace minerals market research report covers in-depth industry with estimates & projections in terms of volume in kilo tons and revenue in USD million for the following segments
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Market, By Minerals
- Zinc
- Iron
- Manganese
- Copper
- Others
Market, By Livestock
- Dairy
- Beef
- Pork
- Poultry
- Others
The above information has been provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Spain
- Germany
- UK
- Russia
- France
- Asia Pacific
- China
- India
- Japan
- Australia
- Indonesia
- Malaysia
- Thailand
- LATAM
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
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