Global Animal Feed Organic Trace Minerals Market

Global Animal Feed Organic Trace Minerals Market Size, Share, Growth Analysis, By Application(Dairy cattle, poultry), By Product type(Zinc, iron), By Product form(Dry, liquid) - Industry Forecast 2024-2031

Report ID: SQMIG30B2022 | Region: Global | Published Date: April, 2024
Pages: 198 | Tables: 95 | Figures: 75

Global Animal Feed Organic Trace Minerals Market News

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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).

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. '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', '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.'

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.

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.

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..

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