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

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.