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The animal feed organic trace minerals market size is estimated to grow at a CAGR of 8.11% between 2022 and 2027. The size of the market is forecast to increase by USD 391.05 million. The growth of the market depends on several factors, including the health benefits of trace animals, increasing awareness about livestock diseases, and changes in end-user preference.
This report extensively covers market segmentation by form factor (dry and liquid), application (poultry, swine, ruminants, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The health benefits of trace animals are notably driving the market growth, although factors such as the increased use of water-soluble organic feed additives may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Animal Feed Organic Trace Minerals Market Driver
Organic trace minerals are essential for the metabolic well-being of animals, as they support enzymatic reactions that contribute to the prevention of low-feed efficiency, diseases, and inefficient growth. Various organic trace minerals provide health benefits to animals, such as Cobalt which helps in Vitamin B12 synthesis and the activation of enzymes, Copper which is necessary for structural strength, elasticity of connective tissues, and maturation of erythrocytes and blood vessels, and Iodine which is responsible for the regulation of neuromuscular functions, cellular oxidation, and metabolism. Iron, Magnesium, Manganese, and Zinc also play a critical role in animal health and development. Breeders are encouraged to feed their animals on organic trace mineral feed as it enhances the productivity of animals, leading to more profitability for breeders. Moreover, disease outbreaks disrupt livestock product trade and inhibit sustained investments in livestock production. Hence, demand for organic trace minerals for animal feed will continue to grow, as they provide a solution for preventing epidemic diseases and maintaining livestock production.
Significant Animal Feed Organic Trace Minerals Market Trends
Another key factor driving the global animal feed organic trace minerals market is the increased use of water-soluble organic feed additives. Water-solvent natural feeds contain multivitamins along with natural trace minerals and play a vital part in deciding livestock development and profitability. They are difficult to pass, digest quickly, and are more gainful than dry feed-added substances. Vendors are also coming up with new products to cater to the market demand.
For instance, Tanke Biosciences, a Chinese manufacturer of organic trace minerals, has come up with a wide range of water-solvent natural feed-added substances such as Mineral Premix for Piglet - QILIMIX I, Mineral Premix for Sow - QILIMIX II, Mineral Premix for Poultry - QILIMIX III, and Extra-Health (sow lactogenic powder), which contain multivitamins and organic minerals. Therefore, such developments augur well for the global organic trace minerals for the animal feed market. Such factors are expected to positively impact the market growth in the forecast period.
Major Animal Feed Organic Trace Minerals Market Challenge
One of the key challenges to the global animal feed organic trace minerals market growth is the growing vegan population, especially in the US, Australia, Germany, and India. Veganism is termed as the practice of abstaining from the use of animal products, particularly in the diet. Touted as one of the fastest-growing lifestyle movements, veganism abstains from the consumption of all products obtained from animals. For instance, the number of vegans in the UK has increased by about 600% in the last three years. The trend is being fueled by the growing popularity of veganism among the youth. About 80% of the total vegan population in the UK falls in the age group of 15-34 years.
In the US, many food startups promote veganism, and they are being endorsed by celebrities such as Bill Gates, Serena Williams, and Venus Williams. Market players are also coming up with new vegan products to tap the growing potential. With the vegan population increasing in the world, working people looking for a vegetarian diet have also gone up. This can lower the demand for meat-based products and challenge the global organic trace minerals for the animal feed market.
Key Animal Feed Organic Trace Minerals Market Customer Landscape
The animal feed organic trace minerals market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Animal Feed Organic Trace Minerals Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alltech Inc. - The company offers organic trace minerals for animal feed such as Bioplex High Five. Also, the company offers animal nutrition for dairy cows, beef cattle, poultry, pig, aquaculture, equine, and pet.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the dry segment will be significant during the forecast period. Due to consumer demand for more natural and sustainable food products, the market for dry-form organic trace minerals for animal feed is expanding. The market for organic trace minerals is being driven by this demand because they are seen as a healthier and more sustainable alternative to conventional mineral supplements.
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The dry segment was valued at USD 431.07 million in 2017 and continue to grow by 2021. Organic trace mineral manufacturers frequently choose the dry form because it is simple to handle and has a longer shelf life than liquid forms. The cost of organic trace minerals is higher than that of conventional minerals, which poses a problem for market expansion. Consumer confusion and mistrust are also increased by the lack of standardization in the production and labeling of organic trace minerals, which reduces the market potential. However, the demand for organic trace minerals is anticipated to rise in the upcoming years due to growing awareness of animal health and welfare. Due to the rising demand for food products containing animal products in nations like China and India, the APAC region is anticipated to be a significant market during the forecast period.
The liquid form of organic trace minerals is gaining popularity because it is more effective and efficient than the dry form. Animals can absorb and utilize liquid organic trace minerals more easily because they can be easily mixed and distributed in animal feed. This increased efficiency results in improved animal performance, which is a significant driver of demand for liquid organic trace minerals. However, the high cost of these products is due to the inadequate supply of organic raw materials and the complex manufacturing processes required to produce liquid organic trace minerals. Despite these challenges, consumer awareness of animal welfare and the environmental impact of animal agriculture is expected to drive demand for natural and sustainable food products, making North America and Europe the largest markets for liquid organic trace minerals. During the forecast period, it is anticipated that the demand for liquid organic trace minerals will increase, driven by the growing demand for animal-derived food products and increasing awareness.
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North America is estimated to contribute 27% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The enhanced bioavailability of organic trace minerals reduces waste excretion levels in the environment, which is a major market driver. North America imports most of its organic meat products from European and Asian countries as it has a shortfall of organic breeders. Most breeders in the region usually do not prefer feeding their livestock organic food that contains organic trace minerals because of the costs involved. This challenges the growth of the regional market. However, outbreaks of diseases such as the Porcine Epidemic Diarrhoea Virus (PEDV) will see more consumers demanding organic meat during the forecast period, and this will benefit the organic trace minerals market.
In 2020, COVID-19 widely impacted North America, especially the US. However, the region gradually propelled its economic activities and simultaneously conducted large-scale vaccination drives, further supporting regional economy growth. This is expected to increase the regional livestock activities and, consequently, drive the growth of the regional organic trace minerals for the animal feed market during the forecast period.
The animal feed organic trace minerals market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Animal Feed Organic Trace Minerals Market Scope |
|
Report Coverage |
Details |
Page number |
167 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.11% |
Market growth 2023-2027 |
USD 391.05 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
7.8 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 27% |
Key countries |
US, Canada, China, Japan, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alltech Inc., Archer Daniels Midland Co., Balchem Inc., BASF SE, Biochem additives and product mbH, Cargill Inc., Global Animal Products, Kemin Industries Inc., Koninklijke DSM NV, Mercer Milling Co. Inc., Norel SA, Novus International Inc., Nutreco N.V., Phibro Animal Health Corp., Priya Chemicals, QualiTech, Suboneyo Chemicals Pharmaceuticals P Ltd., Tanke Biosciences Corp., Zinpro Corp., and Simfa Labs Pvt. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Form Factor
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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