Increasing number of feed mills globally is driving the market.
Market Size – USD 472 Million in 2020, Market Growth – at a CAGR of 5.2%, Market Trends –Rising bioavailability of trace minerals
The global trace minerals in feed market is predicted to be valued at USD 707.7 Million in 2028 from USD 472 Billion in 2020, occupying a CAGR of 5.2% over the projection timeline. Trace minerals provide several essential nutrients for animals, required in the metabolic functions including development and growth, reproduction, and immunity. Even moderate deficiencies of trace minerals can adversely affect the performance of animals. The steady rise in the meat consumption in the regions of South- America and Asia-Pacific due to the changing diet patterns, population, rapid urbanization, and steady economic growth is majorly supporting the industry growth.
Fishes are generally low in cholesterol, fats, and carbohydrates, but rich in protein. The consumption of fish is advantageous in getting the adequate supplement of amino acids and essential vitamins. These factors result in an increased global need for protein, especially among health-conscious population. Globally rising population trends in the consumption of seafood and poultry meat products are also encouraging the sector’s growth. Growing life expectancy and limited water and land resources for the production of animal feed, is promoting the trace element’s use in animal feed which is further accelerating the industry growth globally.
Several manufacturers in the industry are developing various techniques for supplying inorganic elements in organic forms, which results in increasing the bioavailability of various compound food along with improving livestock’s productivity. In the organic form, the most crucial trace elements are zinc, chromium, copper, and selenium. Growing awareness regarding the advantages of different organic mineral chelates among livestock producers or farmers is resulting in the significant demand for mineral supplements, thus propelling the market.
However, an outbreak of various animal diseases including AI or Avian Influenza is predicted to hamper the overall industry growth. Thus, minimizing such outbreak’s after-effects is a major challenge faced by industry manufacturers as well as governing bodies globally. Increasing activities in R&D for maximizing organic trace mineral’s specific functions are creating new avenues for the industry’s development.
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Further key findings in the report
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For the purpose of this report, Reports and Data has segmented the global trace minerals in feed market on the basis of product type, livestock, chelate, form, and region:
Type Outlook: (Revenue, USD Million, 2018 – 2028)
Livestock Outlook: (Revenue, USD Million, 2018 – 2028)
Chelate Outlook: (Revenue, USD Million, 2018 – 2028)
Form Outlook: (Revenue, USD Million, 2018 – 2028)
Regional Outlook: (Revenue, USD Million, 2018 – 2028)
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Table of Content:
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope 1.2. Market Definition 1.3. Information Procurement 1.3.1. Purchased Database 1.3.2. Internal Database 1.3.3. Secondary Sources & Third-Party Perspectives 1.3.4. Primary Research 1.4. Information Analysis 1.4.1. Data Analysis Models 1.5. Market Formulation & Data Visualization 1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook 2.2. Product Outlook 2.3. Distribution Channel Outlook 2.4. Competitive Insights
Chapter 3. Trace Minerals in Feed Market Variables, Trends & Scope
3.1. Market Introduction 3.2. Penetration & Growth Prospect Mapping 3.3. Industry Value Chain Analysis 3.3.1. Sales/Retail Channel Analysis 3.3.2. Profit Margin Analysis
Continue…
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