Global Trace Minerals for Animal Feed Market: Overview
Trace minerals are essential minerals found in a variety of animal and plant foods. They can enable the body to carry out regulatory and structural functions. As the name suggests, they are present in small amounts in the body which needs less than 100 milligrams of those per day. Fine-tuned supply of trace minerals can enable to improve performance and health of livestock; an adequate feed formulation in micro nutrients adds to the productivity of the animal husbandry and also the production chain. Some such trace materials are zinc, copper, iron, and selenium. At present, zinc is seeing maximum demand due to its ability to boost metabolism and immunity of animals.
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Global Trace Minerals for Animal Feed Market: Drivers and Restraints
The growing meat consumption worldwide, both on account of rising population and changing eating patterns of people, is the main driver of demand for trace minerals for animal feed. These minerals serve to activate crucial enzymes and hormones needed for metabolic processes in cattle. They can also play a role in boosting immunity, overall health, and skeletal development. Apart from this, increasing spends on research and development activities to come up with better products is positively influencing the market as well.
Such efforts have resulted in the emergence of animal feed with organic trace minerals. Similarly emergence of water-soluble organic feed containing organic trace minerals and multivitamins has also opened up new growth avenues for the market.
Growing occurrences of disease outbreaks, such as avian influenza (AI) in poultry and turkey have increased the demand for these minerals.
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Global Trace Minerals for Animal Feed Market: Trends and Opportunities
Trace minerals find usage in feeds of various kinds of livestock. Those include poultry, dairy cattle, pigs, and horses, among others. Currently, the segment of poultry is the largest consumer of the trace minerals as food additive. This is particularly on account of the rising demand for chickens, broilers, and turkeys from major food growing nations such as India, China, and Brazil. However, going forward, rising demand for pork will make the segment of pigs rise at the fastest pace.
Global Trace Minerals for Animal Feed Market: Regional Analysis
North America, powered by the U.S., at present accounts for a substantial share in the market. The U.S. has emerged as the largest consumer of pork and poultry in the world and this has been the single most important driver of the market in the region. Besides, the nation is also home to numerous producers of feed and organic trace minerals – another factor which has supported the market. Zinc, whose consumption can bolster the reproductive capacity and immunity of animals, is the leading contributor to the market for trace minerals for animal feed in the region.
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Other key markets are China and Brazil, which have large animal husbandry industry and import considerable amounts of meat to other parts of the world. Meanwhile, China with its large population size is also a prominent consumer of meat which in turn has served to boost its revenue. Europe too is a prominent players due to the substantial size of its dairy industry, alongside the meat processing industry. Both has necessitated demand for healthy livestock which can be achieved with trace minerals added to animal fodder.
Global Trace Minerals for Animal Feed Market: Competitive Landscape
Cargill Inc., Archer Daniels Midland Co., Alltech, Inc., and Royal DSM NV are to name a few of the prominent participants in the global market for trace minerals for animal feed.