Animal Feed Organic Trace Minerals Market to Accrue Remarkable Proceeds over 2018 – 2024 | Zinpro Corporation, DSM, Phibro Animal Health, PANCOSMA, Nutreco

Animal Feed Organic Trace Minerals Market is estimated to exceed USD 750 million & anticipated to witness over 5.5% CAGR up to 2024. Increasing consumer awareness pertaining to the side effects of chemically-processed food will boost animal feed organic trace minerals demand. A substantial increment in the meat & dairy products will enhance market growth. For instance, as per the recent FAO reports, the global meat consumption per capita was around 41 kg, which is projected to surpass 45.3 kg by 2030.

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As per estimates from the Food & Agriculture Organization of the United States, global meat production stood at +300 million tons in 2015 and is anticipated to experience a growth of more than 1.5% over the coming years. The world population currently consumes around 75 pounds of meat per person, on an annual basis. The population in the developed nations consumes around 80 kg of meat per person, while people in the emerging nations consume around 32 kg of meat per person, annually. Subject to this fact, the massive proportion of meat production across the developing countries such as India, South Asia, Australia, and China, will certainly propel APAC animal feed organic trace minerals market to great heights.

Stringent government regulations and guidelines pertaining to the increasing usage of inorganic & synthetic supplements will propel the animal feed organic trace minerals market size. For instance, Commission Regulation (EC) No 1334/2003 of 25 July 2003, states the amending of the conditions for authorization of a number of additives in feeding stuff belonging to the group of trace elements. However, higher cost associated with animal feed organic trace mineral production as compared to inorganic variants for animal feed may impact the business growth.

Speaking of minerals, copper, selenium, and manganese are also extensively used in animals feed, especially poultry, to improve their protein intake rate and the metabolism functioning. Worldwide feed market was valued at USD 450 million in 2015, pertaining to the rising livestock consumption. Poultry dominated the overall animal feed organic trace minerals industry in 2015 by accounting for 45% of the overall share, and will continue to grow at a rate of 7% over 2017-2024. Rising consumption rate and low costs have led to the subsequently rising demand for poultry in countries such as Vietnam, UAE, Japan, Cuba, Saudi Arabia, and South Africa, thereby augmenting the overall animal feed organic trace minerals market from poultry. As per statistics, animal feed organic trace minerals industry size from poultry was around 116 million tons in 2016 and is likely to surpass 131 million tons by 2024.

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Dairy & meat production growth across the globe owing to consistently increasing consumption will enhance the animal feed organic trace minerals demand. As per FAO, global meat production is expected to be 16% higher by 2025 compared to 2016. Poultry meat consumption is the major growth driver in overall meat production. Factors such as low production costs and lower product prices are anticipated to propel the poultry meat as a preferred choice for both producers and consumers in developing countries.

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.

Zinpro Corporation, DSM, Phibro Animal Health, Ridley Inc., PANCOSMA, Nutreco, Cargill, Kemin Industries, Novus International, Inc., Phibro Animal Health are among the major animal feed organic trace minerals companies.

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