Trace Minerals in Feed Market Analysis, Global Trends, Industry Outlook 2024-2033

Overview and Scope
Trace minerals in feed refer to nutritional components that are provided in trace amounts to production and companion animal diets. It is used to give animals the nutrients they need for metabolic tasks like growth and development, immunity, and reproduction.

Sizing and Forecast
The trace minerals in feed market size has grown strongly in recent years. It will grow from $526.43 billion in 2023 to $557.08 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%.  The  growth in the historic period can be attributed to early understanding of animal nutrition, traditional livestock farming practices, emergence of feed additives, scientific research on animal health, livestock industry expansion..

The trace minerals in feed market size is expected to see strong growth in the next few years. It will grow to $692.98 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%.  The growth in the forecast period can be attributed to consumer awareness and education, global livestock production growth, research and development in animal nutrition, environmental and sustainability concerns, focus on animal health and performance.. Major trends in the forecast period include focus on animal nutrition, rising livestock production, scientific advancements, environmental concerns, regulatory standards..

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The trace minerals in feed market covered in this report is segmented –

1) By Type: Zinc, Copper, Cobalt, Manganese, Iron, Chromium, Other Types
2) By ChelateType: Amino Acids, Proteinates, Polysaccharides, Other Chelate Types
3) By Livestock: Poultry, Ruminant, Swine, Aquaculture, Other Livestock
4) By Form: Dry, Liquid

Asia-Pacific was the largest region in the trace minerals in feed market in 2023. Asia-Pacific is expected to be the fastest-growing region in the trace minerals in feed market report during the forecast period. The regions covered in the trace minerals in feed market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

Growing demand for animal-based protein is expected to propel the growth of the trace minerals in feed market going forward. Animal-based protein refers to protein derived from animal sources, such as meat, offal, milk, and eggs. The use of trace minerals in animal-based protein is a critical aspect of animal nutrition, aiming to address potential deficiencies and optimize the health and performance of production animals through the strategic inclusion of bioavailable trace mineral sources in their feed. For instance, in June 2022, a survey conducted by the University of Minnesota’s College of Food, Agricultural and Natural Resource Sciences (CFANS) in collaboration with the International Food Information Council (IFIC), a US-base non-profit organization showed that 80% of U.S. adult consumers prefer animal-based protein (pork, beef, poultry, and fish) as their main sources of protein. Therefore, the growing demand for animal-based protein is driving the trace minerals in feed market.

Key Industry Players

Major companies operating in the trace minerals in feed market are developing innovative and practical guide to address various challenges in the food and beverages industry. The guide emphasizes the importance of customizing trace mineral guidelines based on specific production goals and challenges. For instance, in January 2023, Zinpro Corporation, a US-based food and beverage manufacturing company launched the Zinpro Global Poultry Mineral Guide to re-evaluate trace mineral nutrition for different poultry species. The Zinpro Global Poultry Mineral Guide is an interactive document that compiles trace mineral recommendations to help poultry operations address various challenges. The guide is available for various poultry species, including broilers, broiler breeders, commercial layers, turkeys, and turkey breeders. It allows users to customize the guidelines with specific production goals in mind, considering factors such as antibiotic-free diets, breast myopathies, meat quality, food safety, infection diseases, challenges, sustainability, and genetic breeder lines.

The trace minerals in feed market report table of contents includes:

1. Executive Summary

2. Trace Minerals in Feed Characteristics

3. Trace Minerals in Feed Trends And Strategies

4. Trace Minerals in Feed – Macro Economic Scenario

5. Global Trace Minerals in Feed Size and Growth

…..

32. Global Trace Minerals in Feed Competitive Benchmarking

33. Global Trace Minerals in Feed Competitive Dashboard

34. Key Mergers And Acquisitions In The Trace Minerals in Feed

35. Trace Minerals in Feed Future Outlook and Potential Analysis

36. Appendix

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