Categories: Food & Beverages

Trace Minerals in Feed Market Forecast 2024-2033: Size, Drivers, and Emerging Trends

The Trace Minerals in Feed by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Trace Minerals in Feed, The trace minerals in feed market size has grown strongly in recent years. It will grow from $526.43 billion in 2023 to $557.08 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to early understanding of animal nutrition, traditional livestock farming practices, emergence of feed additives, scientific research on animal health, livestock industry expansion..

The trace minerals in feed market size is expected to see strong growth in the next few years. It will grow to $692.98 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to consumer awareness and education, global livestock production growth, research and development in animal nutrition, environmental and sustainability concerns, focus on animal health and performance.. Major trends in the forecast period include focus on animal nutrition, rising livestock production, scientific advancements, environmental concerns, regulatory standards..

Growing demand for animal-based protein is expected to propel the growth of the trace minerals in feed market going forward. Animal-based protein refers to protein derived from animal sources, such as meat, offal, milk, and eggs. The use of trace minerals in animal-based protein is a critical aspect of animal nutrition, aiming to address potential deficiencies and optimize the health and performance of production animals through the strategic inclusion of bioavailable trace mineral sources in their feed. For instance, in June 2022, a survey conducted by the University of Minnesota’s College of Food, Agricultural and Natural Resource Sciences (CFANS) in collaboration with the International Food Information Council (IFIC), a US-base non-profit organization showed that 80% of U.S. adult consumers prefer animal-based protein (pork, beef, poultry, and fish) as their main sources of protein. Therefore, the growing demand for animal-based protein is driving the trace minerals in feed market.

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The trace minerals in feed market covered in this report is segmented –

1) By Type: Zinc, Copper, Cobalt, Manganese, Iron, Chromium, Other Types

2) By ChelateType: Amino Acids, Proteinates, Polysaccharides, Other Chelate Types

3) By Livestock: Poultry, Ruminant, Swine, Aquaculture, Other Livestock

4) By Form: Dry, Liquid

Product innovations have emerged as the key trend gaining popularity in the trace minerals in feed market. Major companies operating in the trace minerals in feed market are developing innovative products to strengthen their position in the market. For instance, in October 2022, the Zinpro Corporation, a US-based innovator and manufacturer of high-performance organic trace minerals, launched Zinpro IsoFerm for dairy nutrition. The unique features of the Zinpro IsoFerm involve boosting rumen activity by feeding fiber-digesting bacteria directly with game-changing technology. It is designed to increase feed efficiency, promote sustainability, and boost profitability.

The trace minerals in feed market report table of contents includes: