Animal Feed Organic Trace Minerals Market size to hit $1.35 Bn by 2032

Animal Feed Organic Trace Minerals Market size is projected to exceed USD 1.35 billion by 2032, according to a new research report by Global Market Insights Inc.
 

Leading organizations are striving to assist the livestock sector in capitalizing on the high growth potential brought about by increased domestic meat consumption as a result of economic growth, trade opportunities, urbanization, population expansion, and progressive improvement in disease prevention and animal health. Additionally, government initiatives to promote the production of healthy livestock are anticipated to propel the industry growth. In a recent instance, in December 2022, the Asian Development Bank greenlit a USD 62.9 million package to assist Cambodia in strengthening food security and promoting equitable economic growth by boosting livestock health and value chains, as well as formalizing livestock and livestock product trade.

Necessity of iron for maintaining good cattle health to impel iron segment revenue

As per minerals, the animal feed organic trace minerals market from iron segment is predicted to witness over 8% CAGR from 2023 to 2032. At the growing, finishing, gestating, and lactation periods, cattle require around 50 mg of iron for every kilogram of feed or forage they consume. Iron is involved in cellular respiration and oxygen delivery via hemoglobin in 50% of the bovine body. Long-term iron deficiency causes a variety of health problems in animals, including anemia, heart hypertrophy, hypothyroidism, and cognitive impairment.
 

Rising consumption of meat & egg to foster the poultry segment outlook

In terms of livestock, the animal feed organic trace minerals market share from poultry segment is estimated to expand at over 6% CAGR through 2032, owing to its cheap prices, low production costs, and short production cycle, particularly in new and emerging economies where production possibilities have been relatively restricted. Brazil is the world's top poultry exporter and is set to stay so till 2031. The domestic production of poultry has expanded in various nations to keep up with the mounting demand, which is expected to drive the market growth.
 

Browse key industry insights spread across 345 pages with 324 market data tables and 41 figures & charts from the report, “Animal Feed Organic Trace Minerals Market Size By Mineral (Zinc, Iron, Manganese, Copper), By Livestock (Dairy, Beef, Poultry, Pork), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast 2023-2032” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/animal-feed-organic-trace-minerals-market
 

Government initiatives promoting livestock sector development to amplify APAC industry share

Asia Pacific animal feed organic trace minerals industry will reach USD 370 million by 2032, due to increasing demand for meat and meat products by the growing population in major APAC countries, including India, China, and Japan. Additionally, government policies and programs promoting the development of the livestock sector are likely to fuel regional revenue growth. To cite an instance, in April 2022, the Department of Animal Husbandry and Dairying under the Indian government established the 'One Health India' program with the goal of collaborating with partners from multiple sectors to promote livestock health, wildlife health, and environmental health through technology and financing.
 

Business expansion strategies to define the competitive landscape

Major players involved in the animal feed organic trace minerals market include Zinpro Corporation, Davidsons Animal Feeds, Mercer Milling Company, Inc., Royal DSM NV, Archer Daniels Midland Company, Alltech, Inc, Pancosma SA., U.S. Rare Earth Minerals, Inc., Cargill and Kemin Industries Inc. These firms are investing in improving their output by aligning with surging consumer focus on animal nutrition. For instance, in November 2022, Alltech, a U.S.-based agriculture specialist, launched its new 1.7-hectare Bioplex plant with a production capacity of 7,000 tons of products per year, as the first organic mineral manufacturing facility in Vietnam.