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.
COVID-19 Impact on the Trace minerals in feed Market:
COVID-19 impact on feed consumption has directed affected the consumption of meat and livestock products and by-products, such as milk, eggs. This is majorly due to feed supply shortages as a result of the shutdown of many facilities and completed lockdown in majority of the important countries.
Moreover, there is an increased skeptism among consumers 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.
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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.
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.
Europe is the fastest-growing market during the forecast period in the global Trace minerals in feed market
The European market is one of the largest consumers of trace minerals in feed and is growing at a moderate rate. The wide-scale use of trace minerals in European animal nutrition is attributed to the European Commission’s focus on reducing input costs and enhancing animal health in the early stages of growth. The use of trace minerals in animal nutrition depends on factors such as cost-effectiveness, availability, policies, and regulations. Favorable conditions, such as rules pertaining to the use of feed materials, requirements for feed hygiene, and regulations pertaining to undesirable substances in feed set by the European Commission, have had a positive impact on the feed industry, which is projected to drive the growth of the trace minerals in feed market in Europe.
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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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