Animal associations

Organic Trace Minerals for Animal Feed Market Worth $1.3 Billion by 2027, Says Global Market Insights Inc.

The industry of organic trace elements of animal feed from iron has exceeded $150 million in 2020 and is expected to grow at a CAGR of 5.5% over the forecast period. Iron is used in the formation of hemoglobin, and it helps oxygenate the blood, boosts the immune system, aids cognitive function, and is expected to increase product demand.

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Some of the key findings of the Organic Trace Minerals for Animal Feed Market report include:

  • Growing demand for highly nutritious and protein-rich foods such as eggs and poultry meat in the daily diet is likely to drive product demand and drive market growth during the period of Evaluation.
  • The global pork market is expected to reach more than $260 million by 2027 at a CAGR of over 5.5% over the forecast period.
  • Asia Pacific The market is expected to register a CAGR of around 7% till 2027 owing to the increase in poultry farming activities in different countries of the Asia Pacificsuch as India, China, Thailandand Japan coupled with supportive government support in the form of programs and grants.
  • Alltech, Inc, Archer Daniels Midland Company, Pancosma SA, Biochem, Royal DSM, Vamso Biotec Pvt. Ltd., and Novus International, Inc., are some of the major players operating in the global market.
  • Market players are investing heavily in R&D to develop and manufacture innovative and cost-effective products capable of improving gut health and immunity in livestock.

Browse key industry information spread over 300 pages with 225 market data tables and 15 report figures and graphs, “Organic Trace Minerals for Animal Feed Market by Mineral (Zinc, Iron, Manganese, Copper), Livestock (Ruminant, Pig, Poultry), Industry Analysis Report, Regional Outlook, Growth Potential, Trends price, competitive market share and forecast, 2021-2027” in detail with the table of contents:

Growth in industrial animal production due to increased per capita consumption of poultry and beef is expected to drive the demand for organic trace minerals for animal feed. According to the Organization for Economic Co-operation and Development (OECD), poultry is the most consumed in most parts of the region in 2019, followed by beef and veal. For example, the per capita consumption of beef in 2019 was 26.7 kg and 17.6 kg, while in 2016 it was 25.4 kg and 18.1 kg. Rising consumption of poultry and beef is driving commercial farming and increasing the market size of trace minerals for animal feed.

North America the animal feed organic trace element industry is expected to reach $450 million by 2027 at a CAGR of 5.5% throughout the assessment period. According to the Food and Agriculture Organization of the United Nations (FAO), poultry populations increased from 9,038.3 million in 2018 to 9,177.2 million in 2019. The population of cattle and calves in the region was 93.8 million in 2020. Therefore, increasing consumer demand for animal meat will create the need for increased yields which can be achieved by adding organic animal feed additives such as trace -elements to food.

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About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, in the United States, is a global provider of market research and consulting services, offering syndicated and custom research reports as well as growth consulting services. Our business intelligence and industry research reports provide clients with in-depth insights and actionable market data specially designed and presented to aid in strategic decision-making. These comprehensive reports are designed through proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Global Market Insights Inc.
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SOURCE Global Market Insights Inc.