Subjects: ANW, MRR
Global Trace Minerals in Animal Feed Market: Elevating Animal Health and Nutrition - Market Trends, Drivers, and Future Prospects (2023-2028
DUBLIN, Sept. 25, 2023 /PRNewswire/ -- The "Global Trace Minerals in Feed Market 2023-2028 by Mineral, Chelate, Source, Form, Livestock, and Geography, Competitive Analysis, Impact of Covid-19 and Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The global trace minerals in feed market is poised for remarkable growth, with an estimated value of USD 470.56 million in 2023 and a projected value of USD 606.31 million by 2028, reflecting a strong Compound Annual Growth Rate (CAGR) of 5.2%.
Elevating Animal Health and Nutrition
Trace minerals, including zinc, copper, iron, manganese, selenium, and others, play a pivotal role in maintaining the health and productivity of animals. These essential nutrients, required in small quantities, have a significant impact on the overall well-being of livestock and poultry.
The global trace minerals in feed market has witnessed substantial growth, driven by the increasing demand for high-quality animal products, heightened awareness of animal nutrition, and the pressing need to combat mineral deficiencies in animal diets.
Market Segmentation:
The Vital Role of Trace Minerals: Trace minerals are indispensable for various physiological functions in animals, such as enzyme activation, hormone synthesis, immune response, and growth regulation. Deficiencies in trace minerals can lead to health issues like reduced fertility, impaired growth, weakened immune systems, and decreased feed efficiency.
As a result, livestock and poultry producers are increasingly integrating trace mineral supplements into animal diets to ensure optimal health and performance.
Market Drivers: The global trace minerals in feed market is influenced by several factors:
- Rising Global Population and Income Levels: Increased demand for animal-based protein products due to a growing global population and rising income levels has led to greater emphasis on efficient and sustainable livestock and poultry production. This, in turn, is driving the adoption of trace mineral supplements to enhance animal health and productivity.
- Expanding Aquaculture Industry: The depletion of wild fish stocks and the rising consumption of seafood are fueling the growth of the aquaculture industry. Aquatic species require specific trace minerals to support their unique physiological processes, making trace mineral supplementation critical for their growth and disease resistance.
- Consumer Demand for Quality and Safety: Growing consumer awareness regarding the quality and safety of animal-derived products has fueled demand for trace mineral-enriched feeds. Consumers are seeking products produced with minimal environmental impact and without excessive use of antibiotics or growth-promoting agents. Trace minerals in animal feed not only improve animal health but also contribute to the production of safe, nutritious, and sustainable food products.
Recent Developments:
- Zinpro Corporation Launches Availa Se: Zinpro Corporation introduced Availa Se, a high-quality selenium performance trace mineral, for the European Union (EU). Availa Se is a chelated form of selenium, making it more bioavailable to animals, thereby improving their health and performance. (March 2023)
- Kemin Industries Introduces ProPath LQ: Kemin Industries launched ProPath LQ in the US market. ProPath LQ is a liquid trace mineral supplement designed to enhance animal health and performance, expected to be a significant driver of growth in the global trace minerals in feed market. (April 2023)
Why Buy This Report?
This comprehensive report offers valuable insights into the Global Trace Minerals in Feed Market:
- In-depth qualitative analysis
- Verifiable data from authentic sources
- Projections about market size
- Market size analysis in volume and value terms
- Excel data sheet for market size
- Extensive primary and secondary research
- Market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix
- Impact of COVID-19 on the market
- Regulatory scenario in the industry
- Competitive analysis
- Self-Assessment Form to evaluate market position
Report Highlights:
- Complete market analysis
- Key market dynamics and trends
- Impact analysis for informed decision-making
- Market segmentation
- Historical, current, and projected market size
- Market shares and strategies of key players
- Recommendations for market foothold strengthening
Key Attributes:
Report Attribute | Details |
No. of Pages | 118 |
Forecast Period | 2023 - 2028 |
Estimated Market Value (USD) in 2023 | $470.56 Million |
Forecasted Market Value (USD) by 2028 | $606.31 Million |
Compound Annual Growth Rate | 5.2 % |
Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/5sudn
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