Animal Feed Organic Trace Minerals Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Element Type (Zinc, Iron, Copper, Manganese, Selenium, Others), By Animal Type (Poultry, Swine, Cattle, Aquatic, Others), And By Geography - Forecasts From 2023 To 2028

Organic trace minerals are essential nutrients that are utilized in extremely small amounts to prepare the animal feed. The upkeep of animal health depends heavily on trace minerals. Due to their effects on feed flavor and health advantages, organic trace elements are preferred by farmers over inorganic ones. These organic trace elements are preferred over their inorganic equivalents because they are used more effectively and improve animal health. Demand for organic substitutes is expected to increase as people become more aware of the negative effects of inorganic trace minerals that contain heavy metal contamination. Another reason for the increased usage of organic trace elements in animal feed is the growing popularity of water-soluble natural feed additives, rising meat consumption, and expanding animal feed industries worldwide. Additionally, a global shift in food consumption patterns that favors proteins from animal sources is also significantly contributing to the global growth of the meat consumption sector and expanding the market for organic trace minerals. They come at a huge premium, however, which could hinder the market's growth.

Rising meat consumption and animal-derived products to drive growth

Producers have modified their production practices in response to the increased demand for meat from consumers worldwide. Livestock farmers also encounter a significant problem in producing high-quality, hygienic meat while meeting the expectations of the meat processing sector. For instance, the OECD (Organisation for Economic Co-operation and Development) indicated that per capita consumption of poultry meat in Russia increased to 31.7 kg in 2019 from 29.5 kg in 2016. The demand for meat production is increasing as a result of expanding meat consumption, which has further raised the demand for organic trace minerals. According to the OECD, the United Kingdom's consumption of poultry meat climbed from 27.8 kg in 2016 to 28.3 kg in 2019. A per capita consumption of 17 kg made pork the second most consumed meat in 2019. Additionally, owing to the rising meat consumption in the European region, the production of pig meat grew from 23 million tonnes in 2020 to 23.4 million in 2021, according to Eurostat. The meat and poultry industries are also said to make up the largest portion of US agriculture, according to data from the North American Meat Institute. In addition, India has a sizable market base for dairy goods when it comes to derivative products. The National Dairy Development Board predicts that by 2030, India's demand for dairy products will amount to 266.5 million metric tonnes. As a result, it is anticipated that meat output would increase along with rising meat consumption, which will likely have a substantial global impact on the market for organic feed trace minerals.

Market Developments:

• In November 2019, Kemin Industries invested USD 14.2 million to establish a novel innovation and technology centre in China.
• In Ohio, United States, Cargill opened the largest animal feed and premix factory in the world in January 2021. The facility offers a production capacity of 154,00 tonnes of premixed and non-medicated animal nutrition products for cattle, poultry, and domestic pets.
• In July 2021, Pestell Nutrition, a well-known distributor of feed additives, nutritional ingredients, macro and trace minerals, and pet speciality ingredients for the animal health, animal nutrition, and pet food sectors across Canada and the United States, announced that it had entered into an agreement to be acquired by Barentz International, a leading global distributor of life science ingredients. It was a calculated effort by Barentz to increase its operations in North America.
• December 2020: Nutreco, a Dutch multinational corporation, launched its state-of-the-art animal feeding plant in Telangana through its Indian division Trouw Nutrition. The plant, one of the biggest in South Asia for generating premixes, is devoted to creating vitamin premixes, mineral premixes, mineral blends, and feed safety solutions for all species.

COVID-19 Impact on the Animal Feed Organic Trace Minerals Market

The market for feed organic minerals was significantly affected by the COVID-19 outbreak. The meat sector suffered during that time as a result of restaurant closures during the lockdown and a change in consumer consumption habits. Less feed was produced as a result of this adverse effect, which also decreased the need for these minerals. The pandemic also had an impact on the supply chain and the production process, which caused significant losses for businesses. It had a significant effect on the feed business because the lockout caused many feed companies to close. The demand for these additives decreased as a result of the closure of feed factories. However, the industry is anticipated to expand steadily with bettering of the overall situation and the resumption of these services.

Animal Feed Organic Trace Minerals Market Scope:

Market Segmentation:

• By Element Type
  • Zinc
  • Iron
  • Copper
  • Manganese
  • Selenium
  • Others
• By Animal Type
  • Poultry
  • Swine
  • Cattle
  • Aquatic
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • Indonesia
    • Vietnam
    • Australia
    • Others