Market Trends of Animal Feed Trace Minerals Industry
This section covers the major market trends shaping the Animal Feed Trace Minerals Market according to our research experts:
Increasing Worldwide Meat and Fish Consumption is driving the Market
The worldwide economic downturn had a negligible impact on the global meat market, which has maintained its positive outlook. The highest growth of meat consumption is expected from the Asia-Pacific and South American regions because of changing diet patterns, urbanization, population, and economic growth. For example, the Chinese demand for meat continues to surpass the domestic supply, according to Agriculture and Agri-food Canada. Fishes are low in fats, cholesterol, and carbohydrates and are very high in protein. They also provide essential vitamins and amino acids. These factors lead to an increased global demand which is increasing rapidly as more and more people are becoming aware of the health benefits of fish consumption. Globally increasing population trends are also supporting the growth of the world meat and seafood market. Increasing life expectancy and limited availability of land and water resources for animal feed production, is promoting the use of trace elements in animal feed which is driving the market, worldwide.
Asia-Pacific leads the Trace Minerals Market
The Asia-Pacific market for trace minerals is estimated to have a higher growth rate over the forecast period, owing to the increased demand for dairy and meat products in the region. There is a continuous requirement of mineral-rich feed to produce quality output from the animals. Also, the region’s increasing population and changing food preferences are further expanding the market. Healthy, nutritious food is preferred, and the rising standards of living are adding to the growth of the market. Additionally, growing awareness of product efficiency has further expanded the growth of the market. Other upcoming markets like Africa and South America have also shown considerable growth rates owing to global trends.
