The global trace minerals in feed market size was US$ 521.1 million in 2021. The global trace minerals in feed market is forecast to grow to US$ 801.9 million by 2030 by registering a compound annual growth rate (CAGR) of 5.9% during the forecast period from 2022 to 2030.
Trace minerals are considered essential for animals to gain essential nutrients to boost metabolic functions, including immunity, growth, and reproduction.
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Factors Influencing the Market
Growing consumption of meat and fish will primarily drive the growth of the trace minerals in feed market during the forecast period. According to the study by Agriculture and Agri-food Canada, Chinese demand for meat is expected to upsurge the domestic supply. Moreover, the health benefits of meat, such as the high protein in fish, will continue to drive the demand for trace minerals in feed in the coming years.
The growing global population is expected to offer myriad growth opportunities for the trace minerals in feed market. On the flip side, the stringent regulatory framework may limit the market growth during the analysis period.
The increasing number of feed mills will also significantly fuel the growth of the trace minerals in feed market during the analysis period. In addition to that, rising awareness about the benefits of the trace minerals in feed will also be opportunistic for the market.
COVID-19 Impact Analysis
The COVID-19 pandemic has influenced the demand for high protein intake. As a result, the demand for livestock and by-products, such as milk, and eggs, has risen to an extent. Thus, it positively affected the trace minerals in feed market. However, the industry witnessed substantial supply shortages due to the closing of several facilities and completed lockdown. In addition to that, there has been improved skepticism among consumers related to the consumption of poultry products. As a result, it positively influenced the trace minerals in feed market.
Regional Analysis
Europe is expected to hold the highest share of trace minerals in feed market. The growth of the trace minerals in feed market is attributed to the growing use of trace minerals in animal nutrition. Further, European Commission is also emphasizing the early stages of growth on reducing input costs and improving animal health. As a result, it will boost the growth of the trace minerals in feed market. In addition, stringent rules relating to the use of feed materials and feed hygiene standards will positively affect the trace minerals in feed market during the analysis period.
Competitors in the Market
• BASS
• ADM
• Kemin
• BluestarAdisseo
• Phibro
• Alltech
• DSM
• DLG Group
• Nutreco
• Zinpro
• Cargill
• Invivo
• Novus
• Other Prominent Players
The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.
As of the end of 2022, the Trace Minerals in Feed industry experienced notable growth in its workforce. Starting in January, employment within the Trace Minerals in Feed sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global Trace Minerals in Feed output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sector’s production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.
Forecasts indicate that the global Trace Minerals in Feed output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global Trace Minerals in Feed market, remains both its largest producer and consumer. Remarkably, China’s market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nation’s GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the Trace Minerals in Feed market.
Market Segmentation
The global trace minerals in feed market segmentation focus on Type, Chelate Type, Form, Livestock, and Region.
By Type:
• Zinc
• Copper
• Cobalt
• Manganese
• Iron
• Chromium
• Other
By Chelate type:
• Amino acids
• Proteinates
• Polysaccharides
• Other
By Form:
• Dry
• Liquid
By Livestock:
• Poultry
• Ruminant
• Swine
• Aquaculture
• Other
By Region
● North America
o The U.S.
o Canada
o Mexico
● Europe
Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America
Table of Contents:
Chapter 1: Introduction to the Global Trace Minerals in Feed Industry
Chapter 3: Dynamics of the Market
Chapter 4: Profiles of Leading Companies
Chapter 5: Competition in the Global Trace Minerals in Feed Market among Players
Chapter 6: Market Size across Global Regions
Chapter 7: Application Segments in the Global Market
Chapter 8: Segment Analysis of the Global Trace Minerals in Feed Industry
Chapter 9: Market Chain, Sourcing Strategies, and Downstream Buyers
Chapter 10: Strategies and Key Policies by Distributors/Suppliers/Traders
Chapter 11: In-depth Analysis of Key Marketing Strategies by Market Vendors
Chapter 12: Evaluation of Market Impact Factors
Chapter 13: Forecasted Global Trace Minerals in Feed Market Size (2023-2031)
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(A) This research imparts invaluable insights tailored for senior management, policymakers, industry professionals, product innovators, sales executives, and stakeholders within the market. It equips them with the information needed to make well-informed decisions and craft effective strategies.
(B) The report delivers a comprehensive analysis of global, regional, and country-level Trace Minerals in Feed market revenues, extending projections until 2031. This dataset empowers companies to gauge their market presence, recognize avenues for growth, and explore emerging markets.
(C) Through meticulous segmentation of the Trace Minerals in Feed market encompassing types, applications, technologies, and end-uses, this study empowers leaders to blueprint their products and allocate resources based on the projected growth trajectories of each segment.
(D) Investors stand to gain from the market analysis by gaining insights into market scope, positioning, key drivers, challenges, limitations, expansion prospects, and potential risks. Armed with this knowledge, they can make well-considered investment choices.
(E) The report conducts an intricate analysis of competitors, unraveling their pivotal strategies and market positioning. This intelligence equips businesses with a profound understanding of the competitive landscape, enabling them to chart their own strategies accordingly.
(F) The study facilitates the assessment of Trace Minerals in Feed business projections delineated by region, key countries, and prominent companies, bestowing invaluable information for investment strategizing and decision-making.
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