(I-BusinessNews.Com, April 15, 2021 ) The report “Trace Minerals In Feed Market by Type (Iron, Zinc, Manganese, Copper, Cobalt, Chromium, Other Types), Livestock , Chelate Type (Amino Acids, Proteinates, Polysaccharides, Other Chelate Types), Form, And Region – Global Forecast To 2025″, 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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Driver: Increase in the production of compound feed
With the rise in demand for meat and meat products and the increase in the importance of protein-rich diets among consumers across the globe, the demand for compound feed has been growing in the Asia Pacific, North American, and European countries. The Food and Agriculture Organization (FAO) estimates that by 2050, the demand for food products would grow by 60%, and that of animal protein would grow by 1.7% per year. It is also estimated that the production of meat, aquaculture, and dairy products would also increase. The major feed producing countries in the world include China, the US, Brazil, Mexico, Spain, India, and Russia. The demand for chicken and red meat has been growing in these countries, which has also contributed to the growth of the market. An increase in the number of feed mills could also be among the key factors, which have contributed to the overall increase in the production of compound feed.
Opportunity: Increase in the bioavailability of trace minerals
Bioavailability refers to the proportion of nutrients in food products, which is absorbed and utilized by the body of animals. In addition, utilization is the process of transportation, cellular assimilation, and conversion to a biologically active form. With the permissible limits being imposed on the use of trace elements in feed to reduce environmental risks, livestock farmers have not been able to improve feed conversion efficiency in livestock without providing a higher dosage of mineral supplements, as these elements are not easily absorbed by the digestive systems of animals. However, high demand is expected from unorganized livestock farmers and cooperative societies in developing countries. Therefore, manufacturers are developing techniques to supply these inorganic trace elements in organic forms, which would increase the bioavailability of these compounds and improve the productivity of livestock. The most commonly available trace elements in the organic form include copper, zinc, selenium, and chromium. The awareness about the benefits of organic mineral chelates among farmers is essential to bring a significant shift in the market demand for mineral supplements.
The market for poultry segment is projected to account for the largest share during the forecast period
By livestock, poultry is the segment which accounted for the highest market share as well as the highest growth rate in the trace minerals in feed market. Global consumption peaked in 2019 and a continued upward consumption trend is expected, according to an IndexBox report. With a combined 40% share of global consumption. The increased focus on consumption of animal protein in daily diets is one of the preliminary aspects which has led to the growth of the market. The demand for white meat and eggs has been growing due to which the need for increasing livestock production has grown.
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.
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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 ruminants 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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