By Product Type – Segment Analysis
In 2019, Zinc segment dominated the Animal Feed Organic Trace Minerals Market in terms of revenue is estimated to grow at a CAGR of 9.3% owing towards rise in cell proliferation and the increasing consumption of the red meat across the globe. Zinc improves the metabolism and immunity of the animals and plays an active role in the function of more than 300 enzymes and hormones. Also, the deficiency of zinc causes poor growth, loss of appetite and a low feed conversion rate. It also has an important function in defense enzymes. Zinc play an essential role in cow reproductive functions such as strong estrus cycles, improved conception rates, promotion of normal post-partum uterine involution and reduction of metritis is abetting towards the growth of the market.
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Geography – Segment Analysis
In 2019, the Asia-Pacific region dominated Animal Feed Organic Trace Minerals Market in terms of revenue with a market share of 35.7% owing towards increased demand for meat protein has triggered meat production in the region. Furthermore, countries such as China, India, Japan, and others have a fairly large market share in the food and agricultural sector. There is also a palpable improvement in the production facilities and risk-management in the livestock sector that includes an increase in the production of animal feed which has great opportunities for the vendors that manufacture animal feed organic trace minerals. Government has taken initiatives to promote technological advancements in this region are key factors in the growth of the Animal Feed Organic Trace Minerals market. Europe is projected to record the fastest growth rate during the forecast period 2020-2025.
Drivers – Animal Feed Organic Trace Minerals Market
Increasing Consumption of Meat Products
Globally increasing population trends of the world for the consumption of meat products is driving the Animal Feed Organic Trace Minerals Market. Rising demand for high-quality pork and growth in consumption of pork is anticipated to propel the market expansion over the forecast period 2020-2025. According to FAO documents, the yearly food losses to be one-third of the total food produced which is approximately 1.3 billion tons. This partly attributes to the loss of livestock that suffers from malnutrition. To ameliorate this, it has become imperative for farm owners to inculcate animal feed additives in the diet of livestock which is creating the animal feed additive market
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Challenges – Animal Feed Organic Trace Minerals Market
Stringent Government Regulations
Strict regulations imposed by Government and norms by international organizations such as the FDA and REACH towards unsafe fodder production and inorganic product consumption are restricting the business expansion as well as the market’s growth. High cost of products along with rising research and development cost is likely to hamper the growth of the animal feed organic trace minerals market.
Animal Feed Organic Trace Minerals Industry Outlook
Product Launches was the key strategy of the players in the Animal Feed Organic Trace Minerals Industry. Animal Feed Organic Trace Minerals top 10 companies include Alltech, Inc., Archer Daniel Midland Co., Biochem, Cargill Inc., Kemin Industries, Inc., Mercer Milling Co, Inc., Novus International, Inc., Nutreco N.V., Pancosma S.A. and Royal Dsm N.V.
In January 2020, Kemin Industries, Inc. launched VANNIX™ C4. This is designed as a cost-effective solution for producers to minimize the impact of enteric challenges on poultry performance.
In February 2020, Cargill Corporation expanded its business in poultry by introducing new product Konspol’s. It is enhancing its business in terms of sales, export capabilities and proximities to its customers.
In May 2018, DSM and FCB agreed on collaboration as partners in nutrition and health. This collaboration is set to help in increasing its global presence.
The growing demand for antioxidants in the animal feed owing to the improper body functions among the livestock is likely to be the major driving factor for the market’s growth.
The rising awareness about the harmful impacts of the inorganic trace minerals containing heavy metal contaminants is set to propel the growth of the market.
Europe region is anticipated to record the fastest growth rate during the forecast period 2020-2025.
Related Reports :
A. Animal Nutrition Market
B. Asia Pacific Animal Nutrition Market
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