Feed Trace Minerals Market Scope
The upsurging demand for mineral rich animal meat is helping to boost the global Feed Trace Minerals market in the forecasted period. Minerals are the substance that occurs combined with natural substances. the natural substances are soil, water, and plants. Minerals in the animal diet are getting from the plants and water that are consumed by the animal. According to FAO of the United States, "Livestock contribute 40 % of the global value of agricultural output and support the livelihoods and food security of almost 1.3 billion people. The livestock sector is one of the fastest-growing parts of the agricultural economy." High protein content and quality animal meat are the utmost preference of the consumers. The meat processing industries are all set to expand their production capacities, and the key players are investing more in research and development, aiming at new and innovative formulations.
According to AMA, the Global Feed Trace Minerals market is expected to see growth rate of 3.4%The global feed trace elements market is fragmented and is dominated by several small and medium regional, and local companies. The meat processing industries are all set to expand their production capacities, and the key players are investing more in research and development, aiming at new and innovative formulations. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Feed Trace Minerals market throughout the predicted period.
Cargill (United States), ADM (United States), BASF (Germany), DSM (Netherlands), Nutreco (Netherlands), DLG Group (Denmark), InVivo (France), Alltech (United States), Phibro (United States) and Kemin (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Zinpro (United States), Novus (United States) and Bluestar Adisseo (China).
Segmentation Overview
The study have segmented the market of Global Feed Trace Minerals market and Region with country level break-up.
On the basis of geography, the market of Feed Trace Minerals has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
The Upsurging Organized Livestock Sector in Developing Economies and Introduction of Precision Nutrition Techniques
Market Growth Drivers:
The Growth in the Feed Production and High Demand due to Standardization of Meat Products
Challenges:
Lack of Awareness in Developing and Underdeveloped Countries
Restraints:
The Growing Concern of Raw Material Prices
Opportunities:
Shift Toward Natural Growth Promoters (NGP) and Increasing Growth in Bioavailability of Trace Minerals
Market Leaders and their Expansionary Development Strategies
In August 2023, The Technology Development Board (TDB) announced its strategic partnership with M/s Chemlife Innovations Pvt. Ltd.This collaboration marks a significant stride in advancing the project titled "Commercialization and Manufacturing of Bio-Trace Minerals used in Feed for Animals
In February 2023, Zinpro Corporation launched the Zinpro Global Poultry Mineral Guide, the only guide in the market with trace mineral recommendations to help poultry operations be more precise, productive and profitable, while addressing different production challenges.
Key Target Audience
Feed Trace Minerals Manufactures, Providers, Government Regulatory Bodies, Private Research Organizations, Government Research Organizations and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.