Global Trace Minerals in Feed Market to be Dominated by Compound Feed Through 2028
Trace Minerals in Feed market is expected to grow
in the forecast period 2024-2028 due to the increasing production of compound
feed.
According to TechSci Research
report, “Trace Minerals in Feed Market
- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F”, Global Trace Minerals in
Feed market is anticipated to upsurge at an impressive rate in the forecast
period 2024-2028. A significant factor fueling the
growth of the Global Trace Minerals in Feed
Market due to increasing production of compound feed as compound feed contains minerals,
protein meals, grains, and vitamins which help to fulfill the demand for animal
protein, increasing livestock and poultry populations and the adoption of
modern animal production practices. Moreover, trace minerals play a critical
role in the metabolic functions of livestock and poultry. These
functions help support growth and development, immune function, and
reproductive performance in livestock and poultry. Along with this, common
organically bound trace minerals used in animal nutrition are iron, copper,
zinc, manganese, chromium, and selenium. Some metallic ions, such as iron and
copper, participate in oxidation-reduction reactions in energy metabolism.
Iron, as a constituent of hemoglobin and myoglobin, also plays a vital role in
the transport of oxygen. Additionally, trace elements are found in small
amounts in a variety of foods such as meat, fish, cereals, milk and dairy
foods, vegetables, and nuts, thus with increasing demand for meat and its
products and growing awareness among consumers regarding the benefits of trace
minerals further fuel the growth of Global Trace Minerals in Feed market.
For instance, in February
2020, Alltech mutually launched an in-vitro fermentation laboratory namely Alltech
IFM, with Harper Adams University.
Furthermore, the market is
being further stimulated by the growing demand for animal nutrients in livestock
production as well as rising concerns regarding the health and safety of animals.
However, fluctuations in
raw material costs can slow down market growth. Also, stringent regulation structures
governing the permissible limits can further slowdown the market growth.
Browse over XX market
data Figures spread through XX Pages and an in-depth TOC on the "Global
Trace Minerals in Feed Market"
Global Trace
Minerals in Feed Market is segmented based on type, livestock, form, chelate type,
and region.
Based on type,
the market is categorized into zinc, iron, cobalt, copper, manganese, and
others. Iron is
expected to hold the largest market share in the forecast period, 2024-2028.
This is due to growing awareness about various side effects caused due to iron
deficiency.
Based on livestock,
the market is fragmented into poultry, ruminants, swine, aquatic animals, and
others. Poultry is expected to hold the largest market share in the forecast
period, 2024-2028. This is due to rising preferences for a specific color of the
yolk and meat for consumption.
Based on form, the market is segregated into dry and liquid. Dry segment will
experience the highest market share during the forecast period 2024-2028. As the
dry form has a low moisture content, it has a longer shelf life, a lower rate
of quality deterioration, and is easier to store and package.
Based on chelate type, the market is divided into amino acids,
proteinates, polysaccharide complexes, and others. The amino acid
segment will experience the highest market share during the forecast period
2024-2028, due to their ability to get absorbed easily into the animal body.
Major
companies operating in the Global Trace Minerals in Feed Market are:
- Titan
Biotech Limited
- Balchem
Inc.
- Novus
International, Inc.
- Alltech,
Inc.
- Kemin
Industries, Inc.
- Global
Animal Products, Inc.
- Società
San Marco S.R.L.
- BASF
SE
- Zinpro
Corp.
- Orffa
International Holding B.V.
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this report
“Asia
Pacific region is expected to grow at the highest rate during the forecast
period due to increasing
demand for poultry byproducts, meat, and
ruminates. Additionally, increasing awareness amongst consumers
regarding the requirement of essential nutrients in the daily diet of animals creates
lucrative opportunities for market growth. Furthermore, in Europe, increasing
demand for more nutritious animal feed products, as well as rules pertained by the
European Commission regarding promoting animal health in the beginning stages
of growth, are collectively creating huge prospects of market growth during the
forecast period,” said Mr. Karan Chechi, Research Director with TechSci Research,
a research-based global management consulting firm.
“Trace Minerals in Feed Market- Global Industry
Size, Share, Trends, Opportunity, and Forecast, 2018-2028F, Segmented By Type
(Zinc, Iron, Cobalt, Copper, Manganese, Others), By Livestock (Poultry,
Ruminants, Swine, Aquatic Animals, Others), By Form (Dry, Liquid), By Chelate
Type (Amino Acids, Proteinates, Polysaccharide Complexes, Others), By Region
and Competition, has evaluated the future
growth potential of global Trace Minerals in Feed market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Trace Minerals in Feed Market.”
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