Animal Feed Organic Trace Minerals Market Forecast 2018-2024 | Chief Players - Zinpro Corporation, Kemin Industries, Phibro Animal Health, Vamso Biotec Private Ltd, DSM, PANCOSMA, Ridley Inc., QualiTech, Cargill, Alltech
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1. Zinpro Corp.
2. Vamso Biotec Private Ltd
3. Tanke International Group
4. Royal DSM NV
5. Ridley Inc.
6. Pancosma SA
7. Phibro Animal Health Corp.
8. QualiTech Corp.
9. Nutreco NV
10. Mercer Milling Company, Inc.
11. Novus International Inc.
12. Kemin Industries Inc.
13. Davidsons Animal Feeds
14. Biochem Lohne Germany
15. Cargill Inc
16. Bio Multimin Inc.
17. Archer Daniels Midland Co.
18. Alltech Inc.
In recent years, global food animal production has expanded extensively, to fulfill the food requirements of the ever-growing population. Accordingly, the requirement of trace minerals incorporated in animal feed has also increased, leading to the growth of animal feed organic trace minerals industry across myriad geographies.
The yesteryear acquisition of Micronutrients by Nutreco is a prime example of the massive growth in global Animal feed organic trace minerals market. Nutreco N.V., a renowned Netherlands-based company dealing in processed meat and animal nutrition, had acquired Micronutrients, a global leader dealing in hydroxy-based trace minerals. The talks of Nutreco acquiring Micronutrients had been in the talkfest since the beginning of December 2015, and the deal materialized in January 2016. With this agreement, Nutreca stands at a stronger position to address the changing trends in animal feed organic trace minerals industry by delivering sustainable nutritional solutions equipped with advanced technical know-how, to its consumers. Simultaneously, Micronutrients, now a stronger player in animal feed organic trace minerals market, will have access to Nutreca’s strong R&D division, in addition to providing the latter unrestrained access to its numerous hydroxy trace mineral products to manufacture enhanced animals feed. Such acquisitions are commonplace in the competitive scenario of animal feed organic trace minerals market, which is slated to cross a valuation of USD 845 million, growing at a CAGR of 6.5% over 2017-2024.
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Iron is one such mineral that helps to enhance the digestion capabilities of ruminants subject to the fact that it is the vital oxygen carrier in the body. In addition, Europe is also renowned to consume iron-rich products, on account of which this mineral is in high demand in the region. Iron held more than 17% of the overall animal feed organic trace minerals industry share in 2016 and will continue to attain a major portion of the total revenue owing to its stimulating benefits.
Another lucrative region contributing toward the overall growth of the animal feed organic trace minerals market is Europe. The region consumes pork, dairy products, and ruminant meat on a large scale. In fact, ruminants accounted for more than 35% of the overall Europe animal feed organic trace minerals industry in 2015, owing to the rising consumption of red meat and milk products subject to the massive benefits such as reproductive efficiency and enhanced milk quality. Pertaining to similar drivers, the overall animal feed organic trace minerals market from ruminants is slated to cross USD 300 million by 2024.
European countries such as France and Germany are renowned for their heavy consumption of pork. Even LATAM, led by Brazil, is a major consumer of pork, owing to which LATAM animal feed organic trace minerals market from pigs was more than USD 3.5 million in 2016 and will grow at a rate of 5% over 2017-2024. Pigs held more than 27% of the overall animal feed organic trace minerals industry share in 2015 and will continue to register substantial growth across major geographies.
Europe animal feed organic trace minerals market, subject to increased red meat production and rising consumption of forage additives such as enzymes and carotenoids to enhance metabolism and animal bone structures, will register a CAGR of 6.5% over 2017-2024. Europe is expected to dominate the overall animal feed organic trace minerals industry by registering a valuation of more than USD 280 million by 2024. Germany, UK, and France are slated to be primary revenue contributors, with Germany animal feed organic trace minerals market from manganese slated to record a revenue collection of USD 8.5 million by 2024.
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A rapid upswing in worldwide dairy and meat production owing to their increased consumption will continue to remain one of principal factors driving animal feed organic trace minerals market size. Since trace minerals help to activate the vital hormones and enzymes that are essential for the smooth functioning of metabolic processes in livestock, animal feed organic trace minerals market is likely to continue depicting a positive growth graph, pertaining to the rising need for organic food consumption. Besides, technological advancements and increased scale of livestock breeding in countries such as India and Brazil will positively impact the industry growth. The rapid growth of the Animal feed enzymes market will also impact positively on animal feed organic trace minerals industry. It is important to remember that organizations such as FDA and REACH also play a major role in the expansion of animal feed organic trace minerals market. Stringent rules enforced by these organizations regarding the hazards of inorganic feed will drive the industry trends over the coming years.
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