The global animal feed organic trace minerals market size is expected to reach USD 1278.5 million by 2030, as per the new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.6% from 2023 to 2030. The growth is majorly attributed to the growing demand for animal feed. The market is characterized by the presence of a large manufacturing base. Growing demand for animal feed organic trace minerals from poultry and ruminants is expected to play a key role in the growth.
Raw materials used to manufacture the product using the natural route are zinc, copper, iron, selenium, and manganese. Copper is one of the major minerals in livestock food. In the cattle food industry, zinc is used to increase the immunity of livestock. Along with zinc, copper is also considered to be an essential trace mineral in animal feed. Copper helps in increasing the metabolism in animal bodies. It also helps in the formation of bones and tissues in livestock. Animal feed is widely used in the dairy cattle, poultry, pigs, horses, and fish industries. One of the basic functions of organic trace minerals involves improving the quality of feed. Although they are used in minute quantities, their significance on the overall health and productivity of livestock cannot be undermined.
Livestock food products are extensively used to improve the immune systems and the vital metabolic functions in animals. Minerals that are used in traces perform specific functions in different animals. Zinc helps in the formation of eggshells in poultry, whereas manganese aids in the synthesis of fatty acids and cholesterol and the production of melanin. The end-use industries of livestock food including dairy cattle and poultry were impacted by COVID-19. Processing plants started facing operational and labor problems in late March, and in many cases, things became worse in late April or early May. As the market returned to normal by the end of 2021, the product witnessed an increase in demand over the forecast period.
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Asia Pacific captured the largest revenue share of over 36.9% in 2022. This is owing to the increased consumption of meat, chicken, dairy products, and other livestock
The zinc product segment held the largest revenue share of over 33.4% in 2022. This is owing to the high demand for cost-effective livestock food, which is manufactured from Zinc
Poultry was the largest application segment in 2022 with a revenue share of over 44.9%. This is attributed to the high demand from the livestock food market
Several large players operate globally. With a developed value chain, it is a well-established industry. To gain a competitive edge and enter untapped markets, players are expanding their geographic reach
Grand View Research has segmented the global animal feed organic trace minerals market based on product, application, and region:
Animal Feed Organic Trace Minerals Product Outlook (Revenue, USD Million, 2018 - 2030)
Animal Feed Organic Trace Minerals Application Outlook (Revenue, USD Million, 2018 - 2030)
Animal Feed Organic Trace Minerals Regional Outlook (Revenue, USD Million, 2018 - 2030)
Central & South America
Middle East & Africa
List of Key Players in the Animal Feed Organic Trace Minerals Market
Archer Daniels Midland Co.
Tanke International Group
Kemin Industries Inc
Mercer Milling Co. Inc.
Novus International Inc.
Royal DSM NV
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