The trace minerals in feed market is expected to register 5.4% CAGR during the forecast period. Sales of trace minerals in feed are rising expected to rise from USD 552.67 billion in 2023 to USD 926.04 billion by 2033.
The steady growth of the market can be attributed to the quest for organic and natural animal products, which pushes producers toward the clean trend. Overall, the preference for iron-based trace minerals is likely to remain dominant as livestock are susceptible to metabolic issues, anemia, and diarrhea. Besides this, numerous health regulatory bodies also advocate the use of iron for trace minerals in feed, which is likely to lead to an acute rise in demand.
Dry Form of Trace Minerals Deemed Hygienic
When end users are given the opportunity to decide between dry and liquid trace minerals in feed, they prefer the former. The perception of dry ingredients being hygienic influences their decision-making and pushes producers to prioritize focus to grab better sales opportunities in the feed market.
sCoupled with mineral recommendations, additional elements are examined while producing livestock, such as the kind and quantity of various raw ingredients as well as their intrinsic mineral content, ambient and storage conditions, food processing, and the content of other minerals. The increasing relevance of animal nutrition in livestock production is contributing to the sector's future growth.
Increased demand for trace minerals in animal nutrition for sustaining many physiological processes, improving animal growth and reproduction, and increasing demand for activating animal immune response to determine their health condition is boosting industry demand. Moreover, the rising global demand for red meat and fowl is further advancing business growth.
| Report Attribute | Details |
|---|---|
| Trace Minerals in Feed Market Value (2023) | USD 552.67 billion |
| Trace Minerals in Feed Market Anticipated Value (2033) | USD 926.04 billion |
| Trace Minerals in Feed Market Growth Rate (2023 to 2033) | 5.4% CAGR |
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The trace minerals in feed market registered USD 520.38 billion in 2022, at a 5% CAGR from 2017 to 2022.
| Year | Market Valuation |
|---|---|
| 2016 | USD 1.43 billion |
| 2021 | USD 2.23 billion |
| 2022 | USD 520.38 billion |
| 2023 | USD 552.67 billion |
| 2033 | USD 926.04 billion |
Short Term (2023 to 2026): The short-term growth prospects of the market seem favorable. Since end users are actively looking for healthy livestock to prevent expensive medical costs, the trace minerals market is expected to continue its steady growth momentum.
Medium Term (2026 to 2029): During this period, the market is likely to show a slight uptake. Economic stability in countries such as China and Japan is anticipated to bode well for the Asia Pacific trace minerals market.
Long Term (2029 to 2033): As per FMI’s analysis, the market is likely to chart a bullish growth trajectory during this period of time. Growing demand for poultry meats in Asia Pacific countries is likely to improve the valuation of the regional market, in particular, and eventually, global market.
Compound feed consumption has been increasing in Asia Pacific, North American, and European countries as demand for meat and meat products has increased, due to the importance of protein-rich diets among consumers worldwide. According to the Food and Agriculture Organization (FAO), demand for food items is expected to increase by 60% by 2050, while demand for animal protein may increase by 1.7% per year.
It is also expected that meat, aquaculture, and dairy product production expand. China, the United States, Brazil, Mexico, Spain, India, and Russia are the world's leading feed producers. Demand for chicken and red meat has increased in these countries, contributing to the market's expansion. An increase in feed mills could be one of the primary reasons contributing to the overall growth in compound feed production.
The regulatory standards for various feed additives have been defined by regulatory agencies such as the European Commission and the United States Department of Agriculture (USDA). The limits for important minerals such as zinc, copper, and manganese have been reduced throughout time. Minerals such as selenium and chromium, on the other hand, have seen continuous use in upper limits.
Several changes have been made to the current maximum allowable zinc concentration in livestock feed. For example, the maximum allowable limit for zinc feed additives in complete feed was formerly set at 200 mg/kg for fish and 150 mg/kg for other livestock species. The new standards set the maximum permissible limit (MPL) for salmonids at 180 mg/kg and 120 mg/kg for other species and groups.
The amount of nutrients in food products that are absorbed and utilized by the body of animals is referred to as bioavailability. Furthermore, usage is transporting, assimilation by cells, and conversion to a physiologically active state. With the allowable limits on the use of trace elements in feed imposed to reduce environmental risks, livestock farmers have been unable to improve feed conversion efficiency without providing a higher dosage of mineral supplements, as animal digestive systems do not easily absorb these elements. However, developing countries' disorganized livestock producers and cooperative societies are projected to be in high demand. As a result, manufacturers are researching strategies to deliver these inorganic trace elements in organic forms, which may boost bioavailability and animal production.
Copper, zinc, selenium, and chromium are organic trace elements most often available. Farmers must be educated about the benefits of organic mineral chelates to see a dramatic shift in market demand for mineral supplements.
Feed products are a significant contributor to the entire cost of animal production. It represents about 70% of the overall cost of cattle production. According to the Food and Agriculture Organization of the United Nations, 95% of overall feed costs meet livestock energy and protein requirements, 3% to 4% for essential minerals, trace minerals, and vitamin requirements, and 1% to 2% for additional feed additives.
Feed producers put together various grains and by-products, amino acids, vitamin and mineral supplements, and feed additives on a low-cost basis, taking into account the nutritional content and unit cost of each of these goods.
Mineral raw material prices, such as zinc and copper, tend to fluctuate due to movements in the London Metal Exchange (LME) or high import taxes imposed in specific nations. In some circumstances, a scarcity of scrap material raises raw material prices, which raises the prices of trace minerals. Owing to exorbitant prices, livestock ranchers typically do not use these minerals. By type, the iron sector of the trace minerals in the feed market is expected to account for the biggest proportion.
The Asia Pacific trace minerals in feed market is expected to grow significantly due to rising demand for poultry meat and byproducts, as well as ruminants. The demand is particularly rising from China, India, Japan, and some South East Asian countries that experience an increase in health-conscious consumers. The increased consumer understanding of the necessary nutrients required in a regular diet has raised the demand for protein-rich meat.
In Asia Pacific, trends towards healthy lifestyles and prevention among elderly customers seeking to avoid high healthcare expenditures and live longer lives are fueling growth potential for dietary supplements. As a result, sales of trace minerals in feed flourish in the region.
The Europe market, which is developing at a modest rate, is one of the main users of trace minerals in the feed. The widespread use of trace elements in European animal nutrition can be traced to the European Commission's emphasis on lowering input costs and improving animal health throughout the early stages of development.
Trace mineral utilization in animal nutrition is influenced by factors such as cost-effectiveness, availability, policy, and laws. Favorable conditions, such as rules governing the use of feed materials, feed hygiene requirements, and European Commission regulations governing undesirable substances in feed, have had a positive impact on the feed industry, which is expected to drive the growth of trace minerals in the feed market in Europe.
The key players operating in the market include
| Attribute | Details |
|---|---|
| Market Size Value in 2023 | USD 552.67 billion |
| Market Size Value in 2033 | USD 926.04 billion |
| Market Analysis | USD billion for Value |
| Key Region Covered | North America; Latin America; Europe; Asia Pacific; The Middle East and Africa |
| Key Segments | By Type, By Livestock, By Chelate Type, By Form, By Region |
| Key Companies Profiled | Cargill, Incorporated; Archer-Daniels-Midland Company (ADM); BASF SE; Bluestar Adisseo Co., Ltd; Koninklijke DSM N.V.; Nutreco N.V.; Alltech; Zinpro; Orffa; Novus International; Kemin Industries, Inc.; Lallemand, Inc.; Virbac; Global Animal Nutrition; Dr. Paul Lohmann Gmbh & Co. KGAA; Biochem Zusatzstoffe; Veterinary Professional Services Ltd. (Vetpro); Chemlock Nutrition Corporation; Dr. Eckel Animal Nutrition GmbH & Co.KG; Vetline; Green Mountain Nutritional Services Inc.; Biorigin; Tanke; JH Biotech, Inc.; QualiTech, Inc. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market is estimated to secure USD 552.67 billion in 2023.
The market is expected to reach USD 962.04 billion by 2033.
Asia Pacific is expected to dominate market growth by 2033.
The European Commission emphasizes lowering input costs and improving animal health throughout the early stages of development.
Cargill, Incorporated, Archer-Daniels-Midland Company (ADM), and BASF SE are key players in the market.
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Trace Minerals in Feed Market
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