What is the Historic and Current Scenario of the Trace Minerals in Feed Market?
The trace minerals in feed market has seen considerable growth due to a variety of factors.
• In recent years, the market size for trace minerals in feed has experienced substantial growth. The growth projection for this market is set at an increase from $557.08 billion in 2024 to $588.92 billion in 2025 with a compound annual growth rate (CAGR) of 5.7%. The growth during the historical period is linked to the early comprehension of animal nutrition, conventional livestock farming methods, the introduction of feed additives, scientific studies on animal health, and the expansion of the livestock industry.
What Is The Expected Growth In The Trace Minerals in Feed Market?
The Trace Minerals in Feed market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for trace minerals in feed is anticipated to witness robust growth in the upcoming years. It is projected to escalate to $738.28 billion in 2029 with a compound annual growth rate (CAGR) of 5.8%.
The expected growth during the forecast period can be credited to factors such as enhanced consumer awareness and education, the global expansion in livestock production, advancements in research and development in animal nutrition, growing environmental and sustainability concerns, and a concentrated focus on animal health and performance. Notable trends for the forecast period include a heightened focus on animal nutrition, an increase in livestock production, advancements in science, rising environmental concerns, and regulatory standards.
What Main Forces Are Fueling Expansion In The Trace Minerals in Feed Market?
The surge in preference for protein sourced from animals is anticipated to stimulate the growth of the trace minerals in feed market. Protein sourced from animals includes products such as meat, offal, milk, and eggs. Implementing trace minerals in such animal-based proteins is a vital part of animal nutrition. This practice aims to tackle any potential insufficiencies and improve the health and productivity of livestock, thanks to the tactical addition of absorbable trace mineral sources in their feed. As an illustration, a study conducted by the University of Minnesota's College of Food, Agricultural, and Natural Resource Sciences (CFANS) together with the International Food Information Council (IFIC), a non-profit organization in the United States, revealed in June 2022 that 80% of U.S. adult consumers primarily source their protein from animal-based products including pork, beef, poultry, and fish. Hence, the escalating demand for protein derived from animals is prompting growth in the trace minerals in feed market.
What Are The Primary Segments In The Global Trace Minerals in Feed Market?
The trace minerals in feed market covered in this report is segmented –
1) By Type: Zinc, Copper, Cobalt, Manganese, Iron, Chromium, Other Types
2) By Chelate Type: Amino Acids, Proteinates, Polysaccharides, Other Chelate Types
3) By Livestock: Poultry, Ruminant, Swine, Aquaculture, Other Livestock
4) By Form: Dry, Liquid
Subsegments:
1) By Zinc: Zinc Oxide, Zinc Sulfate, Organic Zinc
2) By Copper: Copper Sulfate, Organic Copper, Copper Oxide
3) By Cobalt: Cobalt Sulfate, Cobalt Gluconate
4) By Manganese: Manganese Oxide, Manganese Sulfate, Organic Manganese
5) By Iron: Iron Sulfate, Iron Oxide, Organic Iron
6) By Chromium: Chromium Picolinate, Chromium Chloride
7) By Other Types: Selenium, Iodine, Molybdenum
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Which Key Trends Are Driving Changes In The Trace Minerals in Feed Market?
The introduction of innovative products has emerged as the primary trend in the trace minerals in feed market, increasing in popularity among major companies. These businesses are focusing on the development of innovative solutions to solidify their market stance. For instance, Zinpro Corporation, a leader and producer of premium organic trace minerals based in the US, released Zinpro IsoFerm meant for dairy nutrition in October 2022. Zinpro IsoFerm is unique in its ability to enhance rumen activity by providing fiber-digesting bacteria directly through groundbreaking technology. This product aims to boost feed efficiency, encourage sustainability, and enhance profitability.
Who Are the Key Players In The Trace Minerals in Feed Market?
Major companies operating in the trace minerals in feed market include:
• Cargill Inc.
• Archer-Daniels-Midland Company
• BASF SE
• Bluestar Adisseo Co. Ltd.
• Nutreco NV
• Alltech Inc.
• Zinpro Corp.
• Novus International Inc.
• Kemin Industries Inc.
• Lallemand Inc.
• Virbac SA
• QualiTech Inc.
• Dr. Paul Lohmann Gmbh & Co. KGAA
• Koninklijke DSM NV
• Orffa International Holding BV
• Chemlock Nutrition Corporation
• Dr. Eckel Animal Nutrition GmbH & Co. KG
• Green Mountain Nutritional Services Inc.
• JH Biotech Inc.
• Feed One Co. Ltd.
What Is The Most Dominant Region In The Trace Minerals in Feed Market?
Asia-Pacific was the largest region in the trace minerals in feed market in 2024. Asia-Pacific is expected to be the fastest-growing region in the trace minerals in feed market report during the forecast period. The regions covered in the trace minerals in feed market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
