Ocean View, DE -- (SBWire) -- 04/28/2020 --Growing of dairy and meat products demand to suffice the dietary needs of the increasing population will propel the animal feed organic trace minerals market from 2018 to 2024. As of 2017, global meat production was over 260 million tons, with considerable consumption share centered in South and eastern part of the Asia Pacific. Requirement to provide livestock with healthy diet and improve the quality of the produce is expected to remain the chief factor fueling the industry growth.
Enhanced bioavailability along with improved gut absorption are among the key factors fueling the animal feed organic trace minerals business growth. As per analysis, organic trace minerals are almost twice bioavailable than inorganic variant. The other key benefits of organic trace minerals include disease prevention, improved food absorption rate, weight gain, and reduced fatigue. Lack of essential nutrients in processed fodders coupled with increasing incidence of side effects to cattle caused by meat consumption of toxic chemicals is impacting the consumer preferences.
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Growing animal feed industry along with increasing efforts to produce healthy livestock is propelling the market growth. Europe and Asia pacific are among the fastest growing animal feed markets. Significant buyer paradigm shift towards natural fodder preferences coupled with healthy diet will provide new growth opportunities over the next few years.
Expanding distribution network along with increasing product launches owing to enhanced R&D investments will boost the industry growth over the forecast timeframe. For instance, Kenmin Industries launched the animal feed product Intellibond VITAL 5 Cr that includes a mix of six essential nutrients. Increasing product demand in poultry diet to boost the physio-biochemical processes and provide support to enzymes and hormone synthesis for improved metabolic processes will support the industry demand.
Zinc dominated the global animal feed organic minerals market with USD 170 million in 2017. Improved feed efficiency supporting effective cattle growth will boost the product demand. Enhanced would healing capabilities along with the advantage of improved immunity is fueling the industry share.
Ruminants feed organic trace minerals demand will grow at over 6% up to 2024. Efforts to meet the increasing milk demand globally will boost the product penetration. Growing read meat consumption along with the willingness to pay more for healthy meat will positively influence the business expansion.
Europe holds a substantial share in the animal feed organic trace minerals market. Upsurge in animal feed production to cater the growing market display strong product outlook in the region. According to Alltech, Europe observed over 28% rise in animal feed production from 2012 to 2017. Russia's displayed the highest growth at 19% in 2017. Increasing product launches supported by growing consumer awareness will stimulate the product scope.
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Global animal feed organic trace minerals market share is highly consolidated with majority of the share distributed among few multinationals. The key industry players in the market include Royal DSM, Archer Daniels Midland, Cargill, Pancosma, Kemin Industries, Mercer Milling, Vamso Biotec, Nutreco, Ridley, QualiTech, Tanke Biosciences, U.S. Rare Earth Minerals, and Biochem Lohne Germany. New product development, acquisitions & collaborations, along with focus on expanding the distribution network are among the key strategies observed in the industry.
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