Summary

The Global Animal Feed Organic Trace Minerals Market is estimated to grow at a significantly high CAGR of 8.5% in the forecast period 2020-2025. The rising awareness about the harmful impacts of the inorganic trace minerals containing heavy metal contaminants is likely to generate demand for organic alternatives. Although there is a high cost associated with these products, organic trace minerals are essential nutrients used in tiny quantities in animal feed. Additionally, the rising popularity of water-soluble natural feed-added substances, increasing meat consumption, and developing animal feed industries across the globe are some other factors responsible for the increased consumption of organic trace minerals in animal feed.

A global shift in food consumption patterns, favoring proteins from animal sources, is also playing a major role in the growth of the meat consumption sector globally, further stimulating the organic trace minerals market.

Key Market Trends

Increasing Worldwide Meat and Fish Consumption is Driving the Market

The worldwide economic downturn had a negligible impact on the global meat market, which has maintained its positive outlook. The highest growth of meat consumption is expected from the Asia-Pacific and South American regions because of changing diet patterns, urbanization, population, and economic growth. For example, the Chinese demand for meat continues to surpass the domestic supply, according to Agriculture and Agri-food Canada. Fishes are low in fats, cholesterol, and carbohydrates and are very high in protein. They also provide essential vitamins and amino acids. These factors lead to an increased global demand which is increasing rapidly as more and more people are becoming aware of the health benefits of fish consumption. Globally increasing population trends are also supporting the growth of the world meat and seafood market. Increasing life expectancy and limited availability of land and water resources for animal feed production, is promoting the use of organic trace elements in animal feed which is driving the market, worldwide.

Asia Pacific Led the Animal Feed Organic Trace Minerals Market

Asia-Pacific accounted for the largest market share of more than 34% in 2019 and is estimated to expand at a high CAGR over the forecast period. APAC witnessed the highest demand for organic trace minerals in animal feed owing to the growing meat industry along with an increase in demand and the presence of key manufacturers in the region. China is a major consumer and led the Asia Pacific region in 2019. The demand for meat protein is rising in the Asia-Pacific region especially in China, India, Malaysia, and Thailand with rapid economic growth in the region. This increased demand for meat protein has triggered meat production in the region, where uptake of feed with organic trace elements has increased and is expected to show a significant growth rate. Apart from improving the nutritional value, the presence of organic trace elements is gaining importance in the region owing to their role in meat quality improvement by eliminating harmful inorganic options.

Competitive Landscape

The global animal feed organic trace elements market is fragmented and is dominated by several small and medium regional, and local companies. The leading international companies in this market include Alltech, Archer Daniels Midland Company, Cargill, Kemin Industries, and Zinpro. The companies are increasingly expanding their market presence and getting involved in mergers and acquisitions to stay relevant and grow in the global market. For example, Kemin Industries opened an innovation and technology center in China making an investment of USD 14.2 million in 2019. In 2018, the company had also acquired Canadian company and its long-time distributor Agri-Marketing Corp. Agri-Marketing, to expand its presence in the country.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support

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