Chelated Trace Minerals Market: Driven by Animal Feed and Rising
Health Awareness
The chelated
trace minerals market is experiencing significant growth, projected to reach
USD 6.766 billion by 2032, reflecting a compound annual growth rate (CAGR) of
6.64% during the forecast period (2024-2032). This expansion can be attributed
to several key trends:
Rising Meat Consumption and Need for High-Quality Animal Products:
The
increasing demand for meat and meat products globally is driving the need for compound
feed. Trace minerals are crucial for animal health, growth, and meat
quality. However, traditional, inorganic forms of trace minerals are poorly
absorbed by animals. Chelated trace minerals offer a solution, boasting
superior bioavailability, leading to improved feed conversion efficiency and
enhanced meat quality. This is particularly significant for regions like
Asia-Pacific, North America, and Europe, where meat consumption is high.
Focus on
Precision Feeding and Environmental Concerns:
The
livestock industry is increasingly adopting precision feeding approaches to
optimize nutrient delivery and minimize environmental impact. Chelated trace
minerals play a vital role in this strategy. Their high absorption rates ensure
animals receive the necessary trace elements without excessive supplementation,
reducing the risk of mineral excretion and environmental contamination.
Growing Popularity of Vegan Diets and Demand for Dietary
Supplements:
The rise of chelated
trace minerals market veganism and plant-based diets is creating a
growing need for dietary supplements. Trace minerals are often deficient in
plant-based diets, and chelated varieties offer an effective way to address
these deficiencies. Consumers' increasing health consciousness and willingness
to invest in preventive healthcare are further fueling the market for chelated
trace mineral supplements.
Market Segmentation and Key Players:
The market segmentation offers
valuable insights into different product types, applications, and regions:
·
Chelated
Trace Minerals Type: Zinc, iron, cobalt, copper, chromium, and others. Zinc dominates
the market due to its critical role in various biological functions.
·
Chelating
Agents: Amino Acid,
Polysaccharide Complex, Proteinate, and Others. Amino acids are the most
popular chelating agents due to their cost-effectiveness and high performance.
·
Application: Animal Feed (largest segment),
Dietary Supplement, Pharmaceutical, Fertilizer, and Others.
Key players in the market include :
BASF (Germany), Nutreco
(Netherlands), Titan Biotech (India), DSM NV (Netherlands), Kemin Industries
(US), Alltech (US), Glanbia PLC (Ireland), Balchem (US), Innophos (US), and
Novus International (US). These
companies are actively involved in R&D to develop innovative chelated trace
mineral products and expand their global reach through strategic partnerships
and acquisitions.
Industry
Developments:
- November 2022: Alltech launched a new
production facility in Vietnam, specifically dedicated to organic mineral
products.
- August 2022: Balchem Corporation
acquired Bergstrom Nutrition, a leading producer of methylsulfonylmethane
(MSM), to strengthen its product portfolio and customer base.
By Region
North
America: The
growing need for precision trace minerals as an ingredient in animal feed is
expected to create opportunities for the players involved in the production of
animal feed chelated trace minerals in the US during the forecast period. In
addition, the increasing focus on sustainable animal production practices in
the countries in the region by players and end users is driving the growth of
the market.
Europe: The increasing
production and consumption of poultry meat, protein-rich pork meat, and dairy
products coupled with the growing utilization of chelated trace minerals in
animal feed for better growth, quality, and productivity of the animals are
expected to drive the growth of the market in the region.
Asia-Pacific: The increasing demand
for pork and the shift to chelated trace minerals user in livestock feed &
nutrition is expected to create opportunities for the players in the market
during the forecast period. In addition, countries in the region including China,
India, Vietnam, Indonesia, and the Philippines account for a significant share
of global poultry meat production and are expected to show an increasing trend
in growth.
Rest
of the World: The
rest of the world market is showing consistent growth during the forecast
period. The increasing demand for livestock production coupled with
antimicrobial bans on animal feed is expected to drive the growth of the market
in the region.
The Road
Ahead:
The chelated
trace minerals market holds immense potential. As the demand for high-quality
animal products rises, coupled with growing health consciousness and the
popularity of vegan diets, the market is expected to witness significant growth
in the coming years. Continued advancements in chelation technology, a focus on
sustainable practices, and strategic expansion plans by key players will
further shape the future of this dynamic market.
About US
At
Market Research Future (MRFR), we enable our customers to unravel the
complexity of various industries through our Cooked Research Report (CRR),
Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed
Research (CFR), and Market Research & Consulting Services. MRFR team have
supreme objective to provide the optimum quality market research and
intelligence services to our clients. Our market research studies by products,
services, technologies, applications, end users, and market players for global,
regional, and country level market segments, enable our clients to see more,
know more, and do more, which help to answer all their most important
questions. To stay updated with technology and work process of the industry,
MRFR often plans & conducts meet with the industry experts and industrial
visits for its research analyst members.
Contact us:
Market
Research Future (part of Wantstats Research and Media Private Limited),
99
Hudson Street,5Th Floor, New York,10013, United States of America
Sales: +1 628 258 0071 (US) +44 2035 002 764 (UK)
Email: Sales@marketresearchfuture.com
No comments:
Post a Comment