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Animal Feed Organic Trace Minerals Market Size By Mineral (Zinc, Iron, Manganese, Copper), By Livestock (Dairy, Beef, Poultry, Pork), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast 2023-2032

  • Report ID: GMI1402
  • Published Date: Feb 2023
  • Report Format: PDF

Animal Feed Organic Trace Minerals Market Size

Animal Feed Organic Trace Minerals Market size surpassed USD 700 million in 2022 and is set to record over 6.5% CAGR between 2023 and 2032, driven by the burgeoning demand for meat products.

Animal Feed Organic Trace Minerals Market

The growing population and rising affluence in emerging nations are boosting the need for protein-rich foods, such as meat, dairy products, and eggs, which is contributing to the development of the animal feed sector. According to research conducted by the Organization for Economic Cooperation and Development (OECD), worldwide per capita meat consumption is set to stabilize at roughly 35.6 kg/year in r.w.e. by 2031. Furthermore, the application of precision farming techniques, as well as the development of novel feed components and technologies, is improving feed efficiency and lowering prices, making animal feed more accessible to farmers and consumers.

High production costs and associated R&D expenses to restrain the industry growth

Organic trace minerals are more effective than inorganic trace minerals and are utilized as inorganic mineral substitutes. The increasing bioavailability is bolstering product demand. However, organic minerals are more expensive than inorganic minerals for animal feed, limiting business demand. Subsequently, several organizations propose combining organic and inorganic trace minerals although the rising production rates are lowering operating expenses, which is likely to help firms tackle this restraint.

Animal Feed Organic Trace Minerals Market Analysis

Animal Feed Organic Trace Minerals, By Livestock

The animal feed organic trace minerals market share from the dairy segment is anticipated to witness a 7% CAGR through 2032, on account of mounting product utilization due to the high protein deficiency in cows that eat low-quality feed. The booming demand for milk and its byproducts resulting from the increasing consumer affordability, coupled with prominent government initiatives that encourage milk production, is expected to stimulate the market growth. For instance, in June 2022, the New York Commissioner of Agriculture Richard A. Ball highlighted the initiatives that the department is undertaking to promote dairy sector development in the state during June's Dairy Month.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market of animal feed organic trace minerals was valued at more than USD 700 million in 2022 and is poised to grow at 6.5% growth rate from 2023 to 2032, owing to the growing demand for protein-rich meat products.

The dairy segment is projected to expand at 7% CAGR during 2023 to 2032, due to the rising demand for milk and milk products.

The industry for animal feed organic trace minerals in Europe is estimated to generate more than USD 445 million by the end of 2032, driven by the rapid adoption of modernized and innovative technologies for livestock production.

Major players involved in the industry 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, and Cargill.

Animal Feed Organic Trace Minerals Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 365
  • Countries covered: 20
  • Pages: 345
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