(I-BusinessNews.Com, November 18, 2020 ) The global trace minerals in feed market size is estimated to be valued at USD 472 million in 2020 and is expected to reach a value of USD 608 million by 2025, growing at a CAGR of 5.2% during the forecast period. Factors such as the rise in production of compound feed, and the increase in the importance of protein-rich diets among consumers across the globe opened new avenues for trace minerals in feed market. The major feed producing countries in the world include China, the US, Brazil, Mexico, Spain, India, and Russia. The where the demand for chicken and red meat has been growing. This in these countries, which has also contributed to the growth of the market.
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COVID-19 Impact on the Trace minerals in feed Market:
COVID-19 impact on the feed consumption has directed affected the consumption of meat and livestock products and byproducts, such as milk, eggs. This is majorly due to feed supply shortages as a resut of the shutdown of many facilitirs and completed lockdown in majority of the important countries.
Moreover, there is an increased skeptism among consuemrs towards the consumption of poultry products due to the scare of the virus (COVID-19) getting transmitted to humans through the consumption. This has reduced the demand of animal feed in the global market.
However, trace minerals such as zinc are extremely essential in the diet of animals as well as humans to ensure optimum health. Zinc works as an antiviral agent by preventing the replication of RNA viruses. It does this by inhibiting RNA-dependent RNA polymerase (RdRP), an enzyme that causes the replication of RNA viruses, like the coronavirus or many others that are known to affect livestock and poultry. In addition to zinc, the trace minerals selenium, copper and manganese are required by the body and play a role in the adaptive and innate immune functions of animals.
Amino acids have the ability to be easily absorbed in the body for the normal functioning of protein synthesis this drives the Trace minerals in feed market
By chelate type, the amino acids segment accounted for the largest market share in 2019. Amino acids are the ideal chelating agents because of its ability to get easily absorbed in the animal body. This is due to the attachment of amino acids to the mineral molecules that create a more stable structure, which helps the minerals survive in the acidic environment of the stomach. Furthermore, trace minerals are protected from various bacteria present in the body of animals, and enzymes are unable to degrade it. It also inhibits the antagonistic action between metal ions and decreases the breaking down of vitamins in the feed. Thus, it easily enters the small intestine where it is absorbed into the bloodstream. These characteristics make amino acids the most preferred chelating minerals among manufacturers.
The dry segment of the trace minerals in feed market is projected to account for the largest share,
By form, the dry segment accounted for the largest share in 2019. This is because, the trace mineral products in the dry form are able to sustain climatic conditions and have higher stability. Moreover, the hygienic supply of these ingredients, and the feeding system is comparatively easy to manage.
Apart from convenience of using dry mineral additives, there are other factors that have an increased usage of chelated trace minerals in dry form among feed manufacturers, such as low bulk weight, storage, transport, relatively high stability, high production capacity, and low manufacturing cost. Mostly, dry powders have low moisture content, thus, reducing the rate of quality degradation. Hence, dry powders can be stored for a longer time than other forms of products. However, the liquid form is witnessing at a comparatively fast rate, as it helps to deliver minerals consistently, which is optimal for the nutritional requirements of livestock.
Asia Pacific is estimated to hold the largest market share during the forecast period
The trace minerals in feed market is estimated to grow significantly in the Asia Pacific region due to the rise in demand for poultry meat and poultry byproducts as well as ruminats from the major economies such as China, India, Japan and other South East Asian countries as they experience a surge in the increase in number of health -conscious consumers. With the increase in awareness amongst consumers about the essential nutrients requirement in daily diet, have increased the demand for protein rich meat. In Asia Pacific, trends around healthy lifestyles and prevention among older consumers trying to avoid expensive healthcare costs and extend healthy lifespans are generating growth opportunities dietary supplements. Thus, causing Trace minerals in feed to flourish in the region.
This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the Trace minerals in feed market. It consists of the profiles of leading companies such Cargill, Incorporated (US), (US), BASF SE (Germany), Bluestar Adisseo Co., Ltd (China), Koninklijke DSM N.V. (Netherlands), Nutreco N.V. (Netherlands), Alltech (US), Zinpro (US), Orffa (Netherlands), Novus International (US), Kemin Industries, Inc. (US), Lallemand, Inc. (Canada), Virbac (France), Global Animal Nutrition (US), Dr. Paul Lohmann Gmbh & Co. KGAA (Germany), Biochem Zusatzstoffe (Germany), Veterinary Professional Services Ltd. (Vetpro) (New Zealand), Chemlock Nutrition Corporation (US), dr. eckel animal nutrition gmbh & co.kG (Germany), Vetline (India), Green Mountain Nutritional Services Inc. (US), Biorigin (Brazil), Tanke (China), JH Biotech, Inc. (US), QualiTech, Inc. (US).
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