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Trace Minerals in Feed Market Size, Share, Growth, Trends, and Forecast to 2025

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MarketsandMarkets™
Trace Minerals in Feed Market Size, Share, Growth, Trends, and Forecast to 2025

The global trace minerals in feed market size is estimated to be valued at USD 472 million in 2020 and is expected to reach a value of USD 608 million by 2025, growing at a CAGR of 5.2% during the forecast period. Factors such as the rise in production of compound feed, and the increase in the importance of protein-rich diets among consumers across the globe opened new avenues for trace minerals in feed market. The major feed producing countries in the world include China, the US, Brazil, Mexico, Spain, India, and Russia. The where the demand for chicken and red meat has been growing. This in these countries, which has also contributed to the growth of the market.


Trace Minerals in Feed Market


Trace Minerals in Feed Market Drivers:


  1. Growing demand for animal-based protein: With the increasing global population, there is a rising demand for animal-based protein sources such as meat, dairy, and eggs, which in turn is driving the demand for trace minerals in feed.
  2. Rising concern for animal health and performance: Livestock producers are increasingly concerned about the health and performance of their animals, which is leading to an increase in the use of trace minerals in feed to improve animal health and performance.
  3. Advancements in animal nutrition: Advances in animal nutrition research and technology have led to an increased understanding of the role of trace minerals in animal nutrition, leading to increased demand for trace minerals in feed.
  4. Increasing demand for organic and natural animal products: Consumers are increasingly demanding organic and natural animal products, which is driving the demand for feed containing natural and organic trace minerals.
  5. Government regulations and policies: Governments around the world are implementing policies and regulations aimed at ensuring the safety and quality of animal-based products, which is driving the demand for trace minerals in feed to meet these regulations.
  6. Increase in global trade of animal-based products: The increasing global trade of animal-based products is driving the demand for trace minerals in feed to ensure consistent quality and health of the animals.


What are the significant trends that are disrupting the Trace minerals in feed market?


The European market is one of the largest consumers of trace minerals in feed and is growing at a moderate rate. The wide-scale use of trace minerals in European animal nutrition is attributed to the European Commission’s focus on reducing input costs and enhancing animal health in the early stages of growth. The use of trace minerals in animal nutrition depends on factors such as cost-effectiveness, availability, policies, and regulations. Favorable conditions, such as rules pertaining to the use of feed materials, requirements for feed hygiene, and regulations pertaining to undesirable substances in feed set by the European Commission, have had a positive impact on the feed industry, which is projected to drive the growth of the trace minerals in feed market in Europe.

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