Animal Feed Organic Trace Minerals Market Size, Share & Trends Analysis Report By Product (Zinc, Iron, Copper, Selenium), By Application (Poultry, Pigs, Horses), By Region, And Segment Forecasts, 2023 - 2030

Research Methodology

A three-pronged approach was followed for deducing the animal feed organic trace minerals market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for animal feed organic trace minerals market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of animal feed organic trace minerals market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Animal Feed Organic Trace Minerals Market Categorization:

The animal feed organic trace minerals market was categorized into four segments, namely product (Zinc, Iron, Copper, Selenium), application (Dairy Cattles, Poultry, Horses,Pigs), and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).

Segment Market Methodology:

The animal feed organic trace minerals market was segmented into product, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The animal feed organic trace minerals market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into sixteen countries, namely, the U.S.; Canada; Mexico; Germany; UK.; France; Spain; Italy, China; India; Japan; Australia; Vietnam, Indonesia, Brazil; South Africa

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Animal feed organic trace minerals market companies & financials:

The animal feed organic trace minerals market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Alltech Inc. -Alltech Inc. specializes in products and solutions related to animal health, crop sciences, and human health. The company’s core business is the animal health segment under which it offers products related to feed with innovative use of enzyme technology, yeast fermentation, nutrigenomics, and algae. The company is headquartered in the U.S. and has operations in over 120 countries across all regions. It offers organic trace minerals under its Bioplex range of chelated minerals.

• Archer Daniels Midland Company –Archer Daniels Midland Company is a U.S.-based processor of agricultural products, with as many as 280 processing plants all around the world. The company’s operations involve all stages of the food chain from processing to storing. Apart from animal nutrition products, the company manufactures food ingredients including vegetable oil, flour, protein meal, and corn sweeteners.The company has operation across more than 150 countries. The U.S. accounts for the majority of its business, followed by Switzerland and Germany.

• Biochem - Biochem is a Germany-based animal health & nutrition product manufacturer and supplier. The company is also a specialized partner for veterinary medicine and feed additive industries in Europe. Apart from Germany, the company operates in countries including the U.S., Canada, UK, Spain, China, India, and many more. The company’s plant in Germany meets the GMP+ standards (Good Manufacturing Practice), which is an internationally recognized certificate from the animal feed industry.

• Tanke International Group - Tanke International Group is a Chinese company that serves the agriculture and animal husbandry industries. The company offers its products through five major segments including mineral amino acid chelates, mineral amino acid chelate premixes, feed flavoring & sweeteners, antioxidants & acidifiers, aquatic livestock feed additives, and special products. The company has offices and manufacturing facilities in China but exports its products to other Asia Pacific countries.

• Cargill, Incorporated – Cargill, Incorporated is one of the largest agri-business companies in the U.S. It operates through major segments, namely, food ingredients & applications; agriculture nutrition & protein; industrial & financial services, and origination and processing. Some of the major industries served by the company include food & beverage, pharmaceutical, personal care product, and pharmaceutical. The company’s product and service offerings include grain, sugar, cotton, financial brokering, food processing, animal feed, and pharmaceuticals, among others.

• Kemin Industries - Kemin Industries is a manufacturer and supplier of animal and human nutrition products. It has operations in all regions including North America, Europe, Asia Pacific, and Central & South America. The company operates through seven major segments namely, animal nutrition & health, pet food & rendering technologies, dietary ingredients, food technologies, personal care, biofuels, and crop technologies. The organic trace minerals offered by the company are sold under the animal health & nutrition segment

• Mercer Milling Co. Ltd. - Based in the U.S., Mercer Milling Co. Ltd. is a 100-year-old company that manufactures animal feed nutrients including organic trace minerals, macro-nutrients, feed additives, vitamins, amino acids, and preservatives. The company caters to various animals including pets, cattle, poultry, swine, and horses. Some of the major suppliers of raw materials to this company include Alltech, Cargill Salt, Bennett Mineral Company, and Prince Agri Products.

• Novus International Inc. - Novus International Inc. is a U.S.-based manufacturer of animal nutrition products and serves poultry, livestock, and aquaculture. The company operates in over 60 countries across Europe, Asia Pacific, and Central & South America, apart from North America. The company focuses on feed cost reduction, gut health optimization, and tissue integrity & health. The company offers organic trace minerals under the brands MINTREX and MAAC.

• Nutreco NV - Nutreco NV is a Netherlands-based manufacturer and supplier of premixes, minerals, compound feed, and other animal feed products. The company operates through three major segments including aquafeed, animal nutrition, and Nutreco Iberia. The company has a strong presence in Portugal, Spain, and Canada, apart from the Netherlands. Its other major markets include Mexico, China, Brazil, and Vietnam.

• Pancosma SA - Pancosma SA manufactures feed additives and animal nutrition products. Its products cater to poultry, horses, swine, and cattle. The company operates through seven major segments namely, Tek, Sucram, Magnasweet, Xtract, B-Traxim, TakTik, and Carbovet. The company’s trace minerals for animal feed are sold under its B-Traxim brand.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Animal Feed Organic Trace Minerals Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 - 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Animal Feed Organic Trace Minerals Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.