The growing demand for meat as a source of protein is expected to be one of the major drivers of the market over the forecast period.
Organic trace minerals improve the nutrient content in animal feed. Growing occurrences of disease outbreaks, such as avian influenza (AI), in poultry and turkey have increased the demand for these minerals. Bioavailability is another factor that differentiates organic and inorganic trace minerals in animal feed.
Poultry was the largest consumer of organic trace minerals in animal feed in 2016. The demand for broilers, chickens, and turkeys has witnessed a steady increase, particularly in countries with growing food industries such as China, India, and Brazil, which has played a key role in growing animal feed consumption in these countries.
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Further key findings from the report suggest:
- The global demand is expected to reach USD 880.2 million by 2025, growing at a CAGR of 7.3% from 2017 to 2025
- The market for zinc was valued at USD 149.7 million in 2016, the highest among all products, on account of its properties of increasing immunity and metabolism of animals
- The demand for organic trace minerals in pig feed is projected to grow at the second highest CAGR of 7.4% in terms of revenue, on account of growing demand for pork due to its high protein content
- The U.S. dominated the North American market and accounted for 78.4% in 2016. This region was one of the largest consumers of animal feed, driving the demand for organic trace minerals.
- Asia Pacific is projected to be the fastest-growing region with a CAGR of 9.1% from 2017 to 2025 due to growing awareness about the importance of organic trace minerals in the booming animal husbandry industry
- The market in Europe was valued at USD 129.7 million in 2016. The demand in this region is driven by the growing meat processing and dairy industries in small countries such as Turkey, Poland, Sweden, Romania, and Bosnia.
- Archer Daniels Midland Company was one of the key players in the market in 2016. Extensive R&D and new product developments were some of the key growth strategies of the company from 2011 to 2016.
- In February 2017, ADM signed an agreement with the University of Illinois, Department of Animal Sciences for the R&D of its pet food premix and ingredient offerings.
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