USD 510.16 million
Animal Feed Organic Trace Minerals Market Size, Share, Growth Analysis, By Application(Dairy cattle, poultry, horses, pigs), By Product type(Zinc, iron, copper, selenium), By Product form(Dry, liquid, gel, and others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30B2022 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|Tables:
95
|Figures:
75
Animal Feed Organic Trace Minerals Market Insights
Global Animal Feed Organic Trace Minerals market size was valued at USD 510.16 million in 2022 and is poised to grow from USD 548.98 million in 2023 to USD 987.14 million by 2031, at a CAGR of 7.61% during the forecast period (2024-2031).
Animal Feed Organic Trace Minerals are becoming popular since It is Bound to organic molecules such as amino acids or peptides and is more easily absorbed and used by animals than inorganic minerals. The various advantages of organic trace minerals include improved animal performance, enhanced immune function, reduced environmental impact, improved carcass quality, increased profitability, reduced mineral interactions and increased safety.
Organic trace minerals have proven to be advantageous in promoting better animal performance. They have been found to enhance the growth rate of animals, leading to higher productivity and increased profitability for farmers. Additionally, organic trace minerals improve feed efficiency, meaning that animals can utilize their feed more effectively and convert it into energy rather than wasting it. This results in a reduced amount of feed required to sustain the animals, leading to cost savings for farmers. Furthermore, organic trace minerals can improve the reproductive performance of animals, including fertility and reproductive longevity. This can be particularly beneficial for breeding programs and help ensure a consistent supply of high-quality livestock. Along with this, the use of organic trace minerals in animal feed can also have a positive impact on the environment. Because organic trace minerals are more easily absorbed and utilized by animals, they are excreted in smaller quantities than inorganic ones. This reduces the number of excess minerals excreted by animals, which can have negative environmental effects, such as soil and water pollution. By reducing the number of excess minerals excreted, organic trace minerals can help to maintain the balance of nutrients in soil and water, preserving the health of ecosystems. This is particularly important in regions where intensive livestock production is practiced, as accumulating excess minerals can be a significant environmental concern.
The inclusion of organic trace minerals in animal feed can also have a positive impact on the quality of the meat produced. Organic trace minerals have been found to enhance meat's tenderness, color, and shelf life. In particular, organic trace minerals such as zinc, copper, and selenium have been shown to play a role in the development of muscle tissue and the maintenance of healthy skin and coat. This can lead to improvements in meat quality, such as improved tenderness and juiciness.
US Animal Feed Organic Trace Minerals Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Automotive
Fastest Growth
Industrial
Growth Rate
7.61% CAGR
Global Animal Feed Organic Trace Minerals Market 2021-2030 ($ Bn)
Country Share for Asia pacific Region- 2021 (%)
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Animal Feed Organic Trace Minerals Market Segmental Analysis
Global Animal Feed Organic Trace Minerals market is segmented based on Application, product type, product form, animal type, and region. By Application, the market is segmented into Dairy cattle, poultry, Horses, pigs,and others. By product type., the Animal Feed Organic Trace Minerals Market is segmented into Zinc, Iron, Copper, Selenium, and others. By Product form, the market is segmented into Dry, liquid, gel, and others. By region, the Animal Feed Organic Trace Minerals Market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Animal Feed Organic Trace Minerals Market Analysis by Application
The animal feed organic trace mineral market is segmented based on animal type and application. In 2021, the poultry segment dominated the market, accounting for over 40% of the revenue share. Poultry is the most commonly consumed meat in the world, with chicken, eggs, and turkeys being the primary sources in this segment. This has resulted in an increased demand for animal feed, including organic trace minerals, to improve the health and productivity of livestock. Apart from poultry, organic trace minerals are also used in animal feed for dairy cattle, horses, pigs, and other animals. The market also includes applications in aqua food and pet food.
Pork is the second-highest consumed meat in the world after poultry and is considered a rich source of protein. The growing demand for high-quality pork and increasing consumption have been major drivers of the pork feed market. Pork is widely consumed in European and Asia Pacific countries and is considered an important source of protein. However, the outbreak of diseases in the pork sector is a common phenomenon, making manufacturers and pork processors increasingly aware of the importance of high-quality feed, including trace minerals and other essential nutrients.
Global Animal Feed Organic Trace Minerals Market By Application 2022 (%)
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Animal Feed Organic Trace Minerals Market Regional Insights
The Asia Pacific region accounted for more than 35% of the revenue share in the animal feed organic trace minerals market in 2021. The growth of the market in this region is primarily driven by China, which was the largest manufacturer of livestock feed in the same year. The poultry and swine industries are the main drivers of the demand for organic trace minerals in animal feed in the region. The presence of a large number of manufacturing bases also contributes to the increasing market demand. Additionally, improvements in the processing and retailing industries, an increase in poultry consumption per capita, and better infrastructure have led to a rise in demand for organic trace minerals in poultry farming..
North America is expected to register the highest compound annual growth rate (CAGR) from 2022 to 2030. The region is home to major producers of organic trace minerals, such as Archer Daniels Midland Co., Alltech, and Cargill, Inc. These companies are among the key players in the market and are driving the growth of the animal feed organic trace minerals market in North America.
Global Animal Feed Organic Trace Minerals Market By Geography, 2022-2030
- Largest
- Fastest
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Animal Feed Organic Trace Minerals Market Dynamics
Animal Feed Organic Trace Minerals Market Drivers
Growing Demand for High-Quality Animal Protein to Bolster Market Growth
- With the growth of the global population, the demand for animal protein continues to increase. This has prompted farmers to explore various strategies to enhance the health and productivity of their livestock in order to meet the surging demand. One such strategy is the incorporation of organic trace minerals in animal feed. Organic trace minerals have been proven to positively impact animal health and growth, producing high-quality meat, milk, and eggs. By boosting the immune system and overall health of animals, organic trace minerals can aid in preventing diseases, thereby reducing the need for antibiotics and other medications. This not only leads to healthier livestock but also to products that meet the growing consumer demand for ethically and sustainably produced food.
Animal Feed Organic Trace Minerals Market Restraints
Limited Awareness to Hinder Market Growth
- One factor that can restrain the growth of the animal feed organic trace minerals market is limited awareness and knowledge among farmers. Many farmers may not be aware of the benefits that organic trace minerals can provide to their livestock, or may not fully understand how to incorporate these minerals into animal feed. Lack of awareness and knowledge can lead to a lack of adoption of organic trace minerals in animal feed, as farmers may not see the value in investing in these products. In addition, farmers may be hesitant to try new products or technologies if they are not familiar with them or do not fully understand their benefits.
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Animal Feed Organic Trace Minerals Market Competitive Landscape
There is intense competition in the animal feed organic trace minerals market, with many companies vying for a share of the market. These companies offer a variety of organic trace mineral products that aim to improve the health and nutrition of livestock, catering to the varying requirements of farmers and animal feed manufacturers. To maintain a competitive edge, companies are constantly striving to develop innovative and novel organic trace mineral products that can cater to the specific needs of farmers and livestock producers. Additionally, companies are expanding their distribution channels to reach a wider customer base, including both large-scale commercial farms and small-scale family-owned farms. Furthermore, pricing is a significant factor in this competitive market. Organic trace minerals tend to be more expensive than their inorganic counterparts, which can be a challenge for companies. Consequently, companies are resorting to offering competitive pricing to attract customers. To justify their higher prices, companies are emphasizing the numerous benefits of organic trace minerals, such as enhanced animal health, increased productivity, and reduced dependence on antibiotics.
Animal Feed Organic Trace Minerals Market Top Player’s Company Profiles
- Archer Daniels Midland Company (ADM)
- Cargill Inc.
- DSM Nutritional Products
- Balchem Corporation
- BASF SE
- Zinpro Corporation
- Kemin Industries
- Archer Daniels Midland
- Alltech
- Novus International
- Nutreco N.V.
- Phibro Animal Health Corporation
- Pancosma
- QualiTech Corporation
- Bioiberica
- Tanke International Group
- Chr. Hansen Holding A/S.
- Biochem Zusatzstoffe
Animal Feed Organic Trace Minerals Market Recent Developments
- In February 2023, Zinpro Corporation introduced Zinpro Global Poultry Mineral Guide, which is the sole guide available in the market that provides trace mineral recommendations to aid poultry operations in becoming more precise, productive, and profitable. This guide is specifically designed to address the various production challenges faced by the poultry industry.
Animal Feed Organic Trace Minerals Key Market Trends
- Growing demand for natural and organic animal products: There is a growing trend among consumers towards natural and organic products, as people are becoming more health-conscious and worried about the origin and quality of the food they consume. This trend has resulted in a growing demand for natural and organic animal products, which are produced using natural feed and are free from harmful chemicals and additives. The farmers and producers are adopting organic trace minerals in animal feed, as they are supposed to be a safer and more sustainable alternative to synthetic minerals. Organic trace minerals are consequent from natural sources and are designed to meet the nutritional needs of animals without causing any harmful side effects. Furthermore, organic trace minerals offer numerous advantages over synthetic minerals. They are also less likely to accumulate in the environment and cause pollution, making them a more sustainable option.
Animal Feed Organic Trace Minerals Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
Our analysis of the global Animal Feed Organic Trace Minerals market indicates that it is poised for significant growth in the forecast period, owing to its numerous advantages. These benefits include improved animal performance, enhanced immune function, reduced environmental impact, improved carcass quality, increased profitability, reduced mineral interactions, and increased safety.
As the global population continues to grow, the demand for animal protein is also increasing. To meet this demand, farmers are adopting various strategies to improve the health and productivity of their livestock, and one such strategy is the use of organic trace minerals in animal feed. These minerals are known to improve the overall health and well-being of animals, leading to better quality meat, milk, and eggs. However, despite the promising growth prospects of the animal feed organic trace minerals market, limited awareness and knowledge among farmers can restrain its growth. Many farmers may not be aware of the benefits that organic trace minerals can offer to their livestock, or may not fully understand how to incorporate these minerals into animal feed. This lack of awareness and understanding can limit the adoption of organic trace minerals in animal feed, hindering the growth of the market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 510.16 million |
| Market size value in 2031 | USD 987.14 million |
| Growth Rate | 7.61% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Animal Feed Organic Trace Minerals Market Recent Developments
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Animal Feed Organic Trace Minerals Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Animal Feed Organic Trace Minerals Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Animal Feed Organic Trace Minerals Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Animal Feed Organic Trace Minerals Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Animal Feed Organic Trace Minerals Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Animal Feed Organic Trace Minerals Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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