USD 446.6 million
Feed Trace Minerals Market Size, Share, Growth Analysis, By Type(Iron, Zinc, Manganese, Copper), By Application(Ruminants, Swine, Poultry, Aquatic Animals), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30C2139 |
Region:
Global |
Published Date: October, 2024
Pages:
261
|Tables:
69
|Figures:
75
Feed Trace Minerals Market Insights
Feed Trace Minerals Market size was valued at USD 446.6 million in 2019 and is poised to grow from USD 473 million in 2023 to USD 610 million by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).
The market for trace minerals has been expanding as a result of several factors, including, but not limited to, an increase in the production of compound feed, an increase in the demand for animal protein in the human diet, and the growing importance of animal nutrition in the production of livestock. According to FAO by 2031, the demand for food will have grown more than 60%, while the demand for animal protein will grow steadily each year. Also, the output of meat, aquaculture, and dairy products is likely to grow. The demand for poultry and red meat has been going up globally, which has helped the feed trace mineral market grow.
US Feed 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
Iron
Fastest Growth
Iron
Growth Rate
5.8% CAGR
Global Feed Treace Minerals Market 2022-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Feed Trace Minerals Market Segmental Analysis
The Global Feed Trace Minerals Market is segmented based on type, application, and region. Based on type, the market is segmented into iron, zinc, manganese, copper, cobalt, chromium, and other types. Based on application, the Feed Trace Minerals Market is segmented into ruminants, swine, poultry, aquatic animals, and other animal types. Based on region, the global Feed Trace Minerals market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Feed Trace Minerals Market Analysis by Type
In 2021, the iron segment held the largest market share in the global feed trace mineral market. The feed trace mineral market is segmented into iron, zinc, manganese, copper, cobalt, chromium, and others based on the types of trace minerals added to feed. Iron is one of the most important minerals that the body needs to work at its best. Iron can't be eaten in its pure form, so oxides and carbonates are the only ways to get it into your body. As iron supplements, red iron oxide, yellow iron oxide, ferrous sulfate, and iron carbonate are also used. In the past few years, the compounds with iron have been approved. As iron deficiency is the most common cause of oxidative stress and anemia in livestock, iron is an important element to include in the feed. The market for iron as a trace mineral in feed is expected to grow quickly over the next few years as it is more acceptable by regulatory bodies.
Global Feed Treace Minerals Market By Type, 2021 (%)
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Feed Trace Minerals Market Regional Insights
In terms of usage of feed trace minerals, Europe accounted for the largest market share in the year 2021 and is expanding at a steady rate. The widespread use of trace elements in European animal nutrition is attributable to the European Commission's emphasis on reducing input costs and boosting animal health during early growth. Trace minerals are utilized in animal nutrition based on considerations like cost-effectiveness, availability, legislation, and laws. European Commission laws for the use of feed materials, standards for feed hygiene, and regulations regarding undesirable compounds in feed have had a favorable effect on the feed sector, which is anticipated to propel the expansion of trace minerals in the feed market in Europe.
Global Feed Treace Minerals Market By Geography, 2022 - 2028
- Largest
- Fastest
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Feed Trace Minerals Market Dynamics
Feed Trace Minerals Market Driver
A rise in the manufacturing of compound feeds globally.
- The need for compound feed has increased globally due to the rising demand for meat and meat products and the importance of protein-rich diets among consumers around the world. The production of meat, aquaculture, and dairy products would also expand, according to estimates.
- China, the United States, Brazil, Mexico, Spain, India, and Russia are the world's largest producers of animal feed. The increasing demand for chicken and red meat in these nations has led to the expansion of the market. An increase in the number of feed mills may be among the primary causes that have contributed to the rise in compound feed output.
Feed Trace Minerals Market Restraint
Strict government regulations regarding feed additives are major restraints for the industry.
- The regulatory standards for various feed additives have been defined by regulatory agencies such as the European Commission and the United States Department of Agriculture (USDA). The limitations for important minerals such as zinc, copper, and manganese have decreased throughout time. However, minerals such as selenium and chromium have been subject to the continuous implementation of upper limits. These regulations changing from time to time will restrain the growth of the feed trace mineral market during the analysis period and are expected to slow the growth of this industry during the analysis period.
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Feed Trace Minerals Market Competitive Landscape
The feed trace minerals market is relatively fragmented, with a high level of competition. Few large players, like Cargill, Inc., BASF SE, and Alltech, now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability.
Feed Trace Minerals Market Top Player’s Company Profiles
- Archer Daniels Midland Company
- Cargill Inc.
- Alltech Inc.
- Nutreco NV
- Koninklijke DSM N.V.
- Zinpro Corporation
- Phibro Animal Health Corporation
- Pancosma SA
- Kemin Industries Inc.
- Novus International Inc.
- Lallemand Inc.
- Bluestar Adisseo Company
- Biochem Zusatzstoffe Handels- und Produktionsgesellschaft mbH
- QualiTech Corporation
- Mercatura GmbH
- Tanke International Group Co. Ltd.
- Global Animal Products Inc.
- Agrimin Limited
- Bioiberica SAU
- JH Biotech Inc.
Feed Trace Minerals Market Recent Developments
- In August 2022, Merck and Orna Medicines announced a collaborative agreement to discover, develop, and commercialize numerous initiatives in infectious illness and oncology, including vaccines and therapeutics.
- In July 2022, Virbac announce the launch of TENOTRYLTM (enrofloxacin) injectable solution for use in cattle and swine in the US. This injectable solution is presented in 100, 250, and 500 ml vials.
- In August 2020, Merck Animal Health announced the completion of its acquisition of IdentiGEN from MML Growth Capital Partners Ireland, a leader in DNA-based animal traceability solutions for livestock and aquaculture.
Feed Trace Minerals Key Market Trends
- The term "bioavailability" describes the number of nutrients in foods that can be absorbed and used by an animal's metabolism. Transportation, cellular uptake, and biochemical transformation are all components of consumption. Cattle farmers have not been able to improve feed conversion efficiency in livestock without providing a greater dosage of mineral supplements due to the permissible restrictions being put on the use of trace elements in feed to prevent environmental concerns. However, demand is anticipated to be high from informal cooperatives and smallholders in emerging nations. Manufacturers are working on methods to offer these inorganic trace elements in organic forms to boost the bioavailability of these compounds and raise animal productivity. Copper, zinc, selenium, and chromium are some of the most widely distributed organic trace elements. To cause a dramatic shift in the market demand for mineral supplements, it is crucial to educate farmers on the advantages of organic mineral chelates.
Feed 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.
According to our analysis, the global feed trace minerals market is segmented based on type, application, and region. According to FAO by 2050, the demand for food will have grown more than 60%. The demand for animal protein will grow steadily each year. North America held the largest market share in the global feed trace mineral market. The market for iron as a trace mineral in feed is expected to grow over the next few years. Europe accounted for the largest market share in the year 2021 and is expanding at a steady rate. Trace minerals are utilized in animal nutrition based on cost-effectiveness, availability, legislation, and laws.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 446.6 million |
| Market size value in 2031 | USD 610 million |
| Growth Rate | 5.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| 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 |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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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 Feed 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 Feed 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 Feed 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 Feed 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 Feed Trace Minerals Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Feed 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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