Animal Feed Trace Minerals Market Size (2024 - 2029)

Animal Feed Trace Minerals Market Size Summary

The animal feed trace minerals market is experiencing significant growth, driven by the increasing demand for mineral-rich animal meat, which is preferred by consumers for its high protein content and quality. The rising popularity of water-soluble natural feed additives and the development of animal feed industries worldwide are contributing to the increased consumption of trace minerals in animal feed. North America, particularly the United States, plays a crucial role in this market due to its substantial production and consumption of livestock and animal-based products. The use of trace minerals in animal feed is essential for promoting healthier animal growth and improving fertility rates, which supports the region's robust livestock industry.

Globally, the market is supported by the positive outlook of the meat industry, with significant growth expected in the Asia-Pacific and South American regions due to changing dietary patterns, urbanization, and economic growth. The demand for fish, known for its health benefits, is also contributing to the market's expansion. The increasing global population, coupled with rising life expectancy and limited resources for animal feed production, is driving the use of trace elements in animal feed. The Asia-Pacific region is anticipated to witness higher growth rates, fueled by the demand for dairy and meat products, and the region's rising standards of living. The market is fragmented, with several small and medium companies, alongside major players like Alltech, Archer Daniels Midland Company, Cargill, Kemin Industries, and Novus International, actively expanding their presence through strategic investments and acquisitions.