What is the global market size of Animal Feed Organic Trace Minerals Market?

Animal Feed Organic Trace Minerals Market size was valued at USD 686.65 million in 2021 and is poised to grow from USD 747.76 million in 2022 to USD 1479.06 million by 2030, growing at a CAGR of 8.9% in the forecast period (2023-2030).

Who are the key vendors in the Global Animal Feed Organic Trace Minerals Market?

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.'.

What is the key driver of Global Animal Feed Organic Trace Minerals Market?

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.

What is the key market trend for Global Animal Feed Organic Trace Minerals Market?

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.

Which region accounted for the largest share in Global Animal Feed Organic Trace Minerals Market?

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..

Global Yeast Extracts For Animal Feed Market Size, Share, Growth Analysis, By Application(Poultry, swine), By Form of Yeast extracts(Powder, paste), By Source of Yeast extract(Baker yeast, Brewers yeast) - Industry Forecast 2024-2031

Report ID: SQMIG35H2070 | Region: Global | Published Date: April, 2024
Pages: 219 | Tables: 93 | Figures: 76

Global Yeast Extracts For Animal Feed Market Dynamics

Yeast Extracts For Animal Feed Market Drivers

Rising concern about Antibiotic Resistance to Bolster Market Growth

There are growing concerns about the overuse of antibiotics in animal feed, which has led to the development of antibiotic-resistant bacteria. Antibiotic resistance is a serious threat to both animal and human health, as it can make infections more difficult to treat and lead to increased mortality rates. As a result, there is a growing need for alternative solutions to promote animal health and reduce the reliance on antibiotics. Yeast extracts are a natural alternative to antibiotics that have been shown to possess antimicrobial properties. These properties can help to inhibit the growth and proliferation of harmful bacteria, without affecting the beneficial microorganisms in the animal's digestive system. This not only promotes animal health but also reduces the risk of creating antibiotic-resistant strains of bacteria. By using yeast extracts in animal feed, producers can reduce the need for antibiotics and promote a more sustainable and responsible approach to animal health. This can benefit both animal and human health by reducing the risk of antibiotic resistance and ensuring the safety of animal products for human consumption.

Yeast Extracts For Animal Feed Market Restraints

Limited Availability is Hindering Market Growth

The availability of yeast extracts may be restricted in some areas, which could hinder its widespread adoption in certain markets. Due to limited production capacity, yeast extracts may not be readily accessible to all regions, which could pose challenges to manufacturers who rely on this ingredient for their products. As a result, alternative ingredients may need to be considered in these areas, which could impact the overall taste and quality of the final product. It is important for producers to consider the availability of yeast extracts when developing products for different markets to ensure that they can meet consumer demand and maintain consistency in their product offerings.

Global Yeast Extracts For Animal Feed Market Report Snapshots

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Global Yeast Extracts for Animal Feed market size was valued at USD 319.46 billion in 2022 and is poised to grow from USD 342.17 billion in 2023 to USD 592.77 billion by 2031, at a CAGR of 7.11% during the forecast period (2024-2031).

The yeast extracts for the animal feed industry is fiercely competitive, with a multitude of companies operating within the market. These companies provide a diverse range of yeast extract products that cater to the specific dietary requirements of various animal species, including cattle, swine, and poultry. The market is characterized by intense rivalry regarding product quality, distribution, and pricing. One of the main drivers of competition in this market is the escalating demand for premium quality animal feed products. Consumers are increasingly aware of the influence of animal feed on the safety and quality of animal-based food products. As a result, animal feed manufacturers are under pressure to produce high-quality feed that conforms to the highest safety and quality standards. This has created a need for high-quality yeast extracts that can enhance the nutritional value of animal feed and promote the general health and well-being of animals. Moreover, competition in this market is also intense in terms of pricing. With many players operating within the market, manufacturers are constantly exploring strategies to offer competitive pricing without compromising on product quality. Consequently, there is a trend of consolidation within the market, with larger companies acquiring small businesses to benefit from economies of scale and reduced production costs. 'Lesaffre Group', 'Kerry Group plc', 'Angel Yeast Co., Ltd.', 'Alltech, Inc.', 'Lallemand Inc.', 'ADM Animal Nutrition', 'AB Mauri India Pvt. Ltd.', 'Novus International, Inc.', 'Biovet JSC', 'Oriental Yeast Co., Ltd.', 'Biorigin', 'Titan Biotech Ltd.', 'Dalian Xinghe Yeast Co., Ltd.', 'Amano Enzyme Inc.', 'Danstar Ferment AG', 'Biomin Holding GmbH', 'Chr. Hansen A/S', 'Koninklijke DSM N.V.', 'Ohly GmbH', 'Huvepharma AD'

There are growing concerns about the overuse of antibiotics in animal feed, which has led to the development of antibiotic-resistant bacteria. Antibiotic resistance is a serious threat to both animal and human health, as it can make infections more difficult to treat and lead to increased mortality rates. As a result, there is a growing need for alternative solutions to promote animal health and reduce the reliance on antibiotics. Yeast extracts are a natural alternative to antibiotics that have been shown to possess antimicrobial properties. These properties can help to inhibit the growth and proliferation of harmful bacteria, without affecting the beneficial microorganisms in the animal's digestive system. This not only promotes animal health but also reduces the risk of creating antibiotic-resistant strains of bacteria. By using yeast extracts in animal feed, producers can reduce the need for antibiotics and promote a more sustainable and responsible approach to animal health. This can benefit both animal and human health by reducing the risk of antibiotic resistance and ensuring the safety of animal products for human consumption.

The trend towards using plant-based animal feed is growing, driven by concerns around sustainability, environmental impact, and potential health benefits. Yeast extracts offer a way to enhance the taste and nutritional value of plant-based animal feed, making them an attractive and viable alternative to traditional animal feed. The environmental impact of animal agriculture, particularly the production of animal feed, is a growing concern for many consumers. Plant-based animal feed offers a more sustainable alternative, as it requires less land, water, and other resources to produce. Additionally, plant-based animal feed can potentially reduce greenhouse gas emissions and help combat climate change. In addition to its sustainability benefits, plant-based animal feed can also offer potential health benefits. For example, some studies have suggested that a plant-based diet for livestock can improve animal health and reduce the risk of certain diseases. Yeast extracts, with their ability to enhance the nutritional value of plant-based animal feed, can play an important role in supporting animal health.

In 2021, Asia Pacific was the dominant region in the Yeast Extracts For Animal Feed market, accounting for a revenue share of more than 31.00%. The growth in this region can be attributed to various factors, including dietary changes, population growth, and rapid urbanization, which have led to an increase in the production of livestock products. Moreover, Asia Pacific is one of the major pig-breeding regions, requiring a high quantity of animal feed. China, in particular, has the largest live pig population in the world.

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Global Yeast Extracts For Animal Feed Market Size, Share, Growth Analysis, By Application(Poultry, swine), By Form of Yeast extracts(Powder, paste), By Source of Yeast extract(Baker yeast, Brewers yeast) - Industry Forecast 2024-2031

Global Yeast Extracts For Animal Feed Market Dynamics

Global Yeast Extracts For Animal Feed Market Report Snapshots

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