Market Size of Animal Feed Organic Trace Minerals Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 8.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Animal Feed Organic Trace Minerals Market Analysis
The Global Animal Feed Organic Trace Minerals Market is estimated to grow at a significantly high CAGR of 8.5% in the forecast period 2020-2025. The rising awareness about the harmful impacts of the inorganic trace minerals containing heavy metal contaminants is likely to generate demand for organic alternatives. Although there is a high cost associated with these products, organic trace minerals are essential nutrients used in tiny quantities in animal feed. Additionally, the rising popularity of water-soluble natural feed-added substances, increasing meat consumption, and developing animal feed industries across the globe are some other factors responsible for the increased consumption of organic trace minerals in animal feed.
A global shift in food consumption patterns, favoring proteins from animal sources, is also playing a major role in the growth of the meat consumption sector globally, further stimulating the organic trace minerals market.
Animal Feed Organic Trace Minerals Industry Segmentation
Some animal food contains trace elements bound to an organic compound. These organic trace elements are considered superior to their inorganic counterparts and more efficiently utilized and promote better animal health. Since the organic element is absorbed more efficiently, a smaller quantity of the element is needed.
| By Trace Element Type | |
| Zinc | |
| Iron | |
| Copper | |
| Manganese | |
| Selenium | |
| Others |
| By Animal Type | |
| Dairy Cattle | |
| Beef | |
| Poultry | |
| Swine | |
| Aquaculture | |
| Pets | |
| Others |
| Geography | |||||||
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Animal Feed Organic Trace Minerals Market Size Summary
The animal feed organic trace minerals market is experiencing significant growth, driven by increasing awareness of the adverse effects of inorganic trace minerals containing heavy metal contaminants. This shift is prompting a rising demand for organic alternatives, despite their higher cost. Organic trace minerals are crucial nutrients used in small quantities in animal feed, and their popularity is further bolstered by the growing consumption of water-soluble natural feed additives and the expanding animal feed industries worldwide. The global trend towards higher protein consumption from animal sources is also contributing to the market's expansion, as meat consumption continues to rise, particularly in the Asia-Pacific and South American regions. These regions are witnessing changes in dietary patterns, urbanization, and economic growth, which are fueling the demand for organic trace minerals in animal feed.
The Asia-Pacific region holds a significant share of the market, with China leading the demand for organic trace minerals due to its burgeoning meat industry and the presence of key manufacturers. The region's rapid economic growth has spurred an increased demand for meat protein, prompting higher meat production and a greater uptake of feed with organic trace elements. This trend is supported by the global increase in population, life expectancy, and the need for sustainable animal feed production methods. The market is characterized by fragmentation, with numerous small and medium-sized companies, alongside major players like Alltech, Archer Daniels Midland Company, and Cargill, actively expanding their presence through strategic mergers and acquisitions. These companies are investing in innovation and technology to maintain their competitive edge and cater to the growing global demand for organic trace minerals in animal feed.
Animal Feed Organic Trace Minerals Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Powers of Buyers
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1.4.2 Bargaining Powers of Suppliers
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1.4.3 Threat of New Entrants
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1.4.4 Threat from Substitute Products and Services
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1.4.5 Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Trace Element Type
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2.1.1 Zinc
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2.1.2 Iron
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2.1.3 Copper
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2.1.4 Manganese
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2.1.5 Selenium
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2.1.6 Others
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2.2 By Animal Type
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2.2.1 Dairy Cattle
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2.2.2 Beef
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2.2.3 Poultry
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2.2.4 Swine
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2.2.5 Aquaculture
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2.2.6 Pets
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2.2.7 Others
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest Of North America
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2.3.2 Europe
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2.3.2.1 United Kingdom
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2.3.2.2 France
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2.3.2.3 Italy
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2.3.2.4 Germany
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2.3.2.5 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 India
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2.3.3.3 Japan
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2.3.3.4 Australia
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Africa
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2.3.5.1 South Africa
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2.3.5.2 Rest of Africa
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Animal Feed Organic Trace Minerals Market Size FAQs
What is the current Animal Feed Organic Trace Minerals Market size?
The Animal Feed Organic Trace Minerals Market is projected to register a CAGR of 8.5% during the forecast period (2024-2029)
Who are the key players in Animal Feed Organic Trace Minerals Market?
Alltech Inc., Archer Daniels Midland Company, Biochem, Cargill, Incorporated and Kemin Industries, Inc. are the major companies operating in the Animal Feed Organic Trace Minerals Market.
