San Francisco, 04 September 2024: The Report Animal Feed Organic Trace Minerals Market Size, Share & Trends Analysis Report By Product (Zinc, Iron, Copper, Selenium), By Application, By Region, And Segment Forecasts, 2024 - 2030

The global animal feed organic trace minerals market size is anticipated to reach USD 1,244.6 million by 2030 and is anticipated to expand at a CAGR of 7.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growth of the market is fueled by the rising popularity of water-soluble natural feed additives, the expanding animal feed industry, and the increasing demand for meat & dairy products worldwide.

Zinc dominated the market in 2023 which is attributed to the use of zinc in feed to improve the immunity and metabolism of animals. The zinc segment was valued at USD 246.1 million in 2023 and is expected to reach USD 422.6 million by 2030, growing at a CAGR of 8.3% over the forecast period.

The poultry application segment accounted for the largest revenue share, 43.6% of the market in 2023, owing to the growing demand for animal protein sources in the U.S., China, etc.

Asia Pacific region dominated the market in 2023 which is attributed to the presence of stringent regulations in the region to improve animal health and productivity, along with a robust demand for high-quality meat and dairy products. The market in the region was valued at USD 284.7 million in 2023 and is expected to reach USD 482.4 million by 2030, growing at a CAGR of 8.1% over the forecast period.

The growth of the market is fueled by the rising popularity of water-soluble natural feed additives, the expanding animal feed industry, and the increasing demand for meat & dairy products worldwide.

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The market size and penetration of animal feed organic trace minerals in poultry are anticipated to remain high over the forecast period with the growing demand for protein from animal sources. The growing Asia Pacific market mainly drives this demand, including countries such as India and China. Organic trace minerals witnessed the second-largest penetration in the pig segment. Pork is widely consumed in the Asia Pacific and European countries as it is also considered an essential source of protein. Furthermore, the growing demand for dairy products has also resulted in an increasing market for cattle feed, consequently driving the demand for organic trace minerals over the forecast period.

Animal Feed Organic Trace Minerals Market Report Highlights

• Based on product, Zinc segment dominated the market with a market share of 32.8%, in 2023. The growth is attributed to the use of zinc in feed to improve the immunity and metabolism of animals
• Based on application, the poultry segment dominated the market with a market share of 43.6%, in 2023. The growth is attributed to the growing demand for animal protein sources from the U.S., China, etc.
• In April 2024, Starting May 1, 2024, Alltech became the distributor and importer of Agolin products in the U.S. and Canada. The company’s high-quality essential oil blends are scientifically proven to improve feed intake and performance, resulting in enhanced milk and meat production in ruminants and non-ruminants.

The Organization for Economic Cooperation and Development (OECD) forecasts a 14% rise in the global consumption of meat proteins by 2030 compared to the average of 2018-2020, primarily due to a surge in income and an increase in population worldwide. The availability of proteins from beef, pork, poultry, and sheep is expected to increase by 5.9%, 13.1%, 17.8%, and 15.7%, respectively, by 2030. However, in wealthy countries, a shift in consumer preferences, along with a continuously aging population and slowly increasing population, is anticipated to lead to the stabilization of meat consumption per capita, with the prevalence of the trend for purchasing high-quality meat cuts.

The increasing incidence of animal diseases is posing a significant hindrance to the growth of the animal feed organic trace minerals market. Outbreaks of diseases, such as African swine fever (ASF), avian influenza (AI), and foot-and-mouth disease (FMD), can lead to substantial losses in livestock populations. For instance, according to a report published by the European Food Safety Authority (EFSA), in 2023, domestic pigs saw the largest number of African Swine Fever (ASF) outbreaks since 2014. Moreover, 1 out of every 5 farm animals are lost to disease every year, according to the World Organization for Animal Health (OIE). The Government of Australia has estimated that an outbreak of foot-and-mouth disease would cost farmers AUD 80.00 billion (USD 52.37 billion) in direct costs over 10 years.

Animal Feed Organic Trace Minerals Market Report Scope

Recent Developments

• In April 2024, Starting May 1, 2024, Alltech has become the distributor and importer of Agolin products in the U.S. and Canada. The company’s high-quality essential oil blends are scientifically proven to improve feed intake and performance, resulting in enhanced milk and meat production in ruminants and non-ruminants.
• In 2024, Vitafort, a joint venture with ADM, launched a cutting-edge feed mill in Hungary, which reached total production capacity by January 2024. This development underscores ADM’s dedication to modernizing regional production infrastructure. The facility further produced animal feed for ruminants, swine, and poultry and, became the largest feed mill in Hungary upon reaching total capacity. It also met increased production demands and supported local farmers using their raw materials.