A research study titled, “Animal Feed Organic Trace Minerals Market by product and application - global industry analysis and forecast to 2025” published by crystal market research.
Competitive Outlook- In the year 2015 Cargill Inc., had a turnover of USD 120 billion. This made the company the largest player in the market of organic trace minerals in the year 2016. With the aim of increasing its share in the growing region of Asia Pacific, the company introduced an animal nutrition manufacturing plant in Vietnam which was valued USD 8.5 million. Other key players in the market are Royal DSM NV, Alltech, Inc., Nutreco N.V. Expansions & investments and Archer Daniels Midland Co.
Competitive Outlook- In the year 2015 Cargill Inc., had a turnover of USD 120 billion. This made the company the largest player in the market of organic trace minerals in the year 2016. With the aim of increasing its share in the growing region of Asia Pacific, the company introduced an animal nutrition manufacturing plant in Vietnam which was valued USD 8.5 million. Other key players in the market are Royal DSM NV, Alltech, Inc., Nutreco N.V. Expansions & investments and Archer Daniels Midland Co.
The global Animal Feed Organic Trace Minerals Market was worth USD 484.67 million in the year 2016 and is predicted to reach approximately USD 869.55 million by 2025, while registering itself at a compound annual growth rate (CAGR) of 6.71% during the forecast period.
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Market Highlights- Organic trace minerals also termed chelates are utilized in small amounts in animal feed. The animal feed industry that is witnessing substantial growth is said to be the key factor that influences the growth of the market during the forecast period. Growing consumption of meat is also a major factor behind the growth of the market as meat is known to be the highest source of proteins. A switch in the pattern of food consumption which includes proteins extracted from animals is playing a vital part in the increasing consumption of meat across the globe. Factors as such are anticipated to influence the growth of the organic trace minerals significantly. The United States was the second largest market in the year 2016 after China. Zinc was the leading product segment of the organic trace mineral in the country.
Market Segmentation- Animal Feed Organic Trace Minerals Market
By ProductSelenium
Iron
Zinc
Copper
Others
By Application
Horses
Dairy Cattle
Pigs
Poultry
Others
Animal Feed Organic Trace Minerals Market - By Region:Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
North America (U.S, Canada, Mexico)
Europe (Germany, France, UK, Italy, Spain, Rest of Europe)
Asia-Pacific (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific)
Rest of the World (Brazil, South Africa, Saudi Arabia, Turkey, United Arab Emirates, Others)
Application Outlook-Organic trace minerals are useful in feeds of pigs, horses, dairy cattle and poultry. Poultry dominated the application segment in 2016 which registered 42.8 percent of the total share of the market. The increasing consumption of eggs, broilers and turkeys is anticipated to have a positive influence of the demand of poultry in the coming years. In the year 2016, poultry was said to be the most consumed meat. Pork had the second largest share that accounted 28.3 percent of total market in the year 2016. As pork is said to be a high source of protein the increasing requirement of proteins derived from animals is said to be the major factor to boost the market.
Regional Outlook - In the year 2016 the organic trace minerals market was dominated by Asia Pacific. India and China had the largest share making the region the largest processor and consumer of feed. Europe had a share of 27.7 percent of the market in the year 2016. This region witnessed major growth due to increasing demand of animal feed from countries like France, Netherlands, Spain and Germany. Factors like suitable climatic conditions have assisted in the growth of poultry which has spurred the requirement for organic trace minerals. The North American market is anticipated to witness steady growth owing to increased consumption of turkey and pork.
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