Market Research Future (MRFR) believes that the chelated trace minerals market would be recording a significant growth rate from 2020 to 2027 (review period). MRFR expects the heightened focus on animal health and the flourishing livestock sector to be major factors contributing to the strong market growth.
Primary Drivers and Restraints
The high consumption rate of different meat products could accelerate the market growth for chelated trace minerals in following years. Plus, the mounting demand as well as consumption of water-soluble natural animal feed coupled with the surging awareness regarding the toxic effects of inorganic trace materials containing several metal contaminants could further raise the sales of chelated trace minerals.
The global industry size is further bolstered by the rise in organized livestock as well as the heightened use of precision nutrition methods particularly in developing nations.
Majority of the prominent firms are striving to foster their customer base by adopting business strategies including partnerships, acquisitions, agreements, mergers, expansion of production capacity, collaborations, product launches, and many more.
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The chelated trace minerals industry has been divided with respect to type, form, chelate type, as well as livestock.
The different types of chelated trace minerals are Iron, Zinc, Copper, Cobalt, and more. Zinc could note substantial growth in the years to come, as the leading segment. This type of chelated trace mineral experiences massive demand owing to its high bioavailability as well as absorption. Its widespread use can also be credited to its ability to foster animal growth in the early phases, enhance animal health and prevent stress among animals.
Various forms in which chelated trace minerals market are available worldwide include liquid and dry. The dry form enjoys considerable demand in the market since these can sustain in extreme weather conditions and also have significant stability. Also, the high hygiene factor associated with the dry form helps store them for a longer time.
Depending on chelate type, the major segments are polysaccharide complexes, proteinates, amino acids, and others.
In terms of livestock, top segments considered in the MRFR analysis are swine, ruminant, aquaculture, poultry, and others. The poultry segment takes the lead and will continue to see upward growth trend in the following years as well.
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Europe gains the upper hand over other regions with the biggest share in the worldwide market. As the top consumer of chelated trace minerals for use in the animal feed industry, Europe’s key focus is on improving animal health. Chelated trace minerals in the region are widely available and is cost-effective, while favorable policies further enhance the market demand. Prevalence of regulations pertaining to the usage of chelated trace minerals, with strong emphasis on hygiene and quality positively impacts the European market.
Asia Pacific is on its way to become one of the most bankable markets in the future, given the escalating demand for livestock as well as livestock-based products. As a result, majority of the livestock producers are progressively using feed integrated with chelated trace minerals, with the aim to enhance animal health and improve their fertility rate. Plus, robust base of renowned chelated trace minerals firms in the region and their aggressive efforts to create more brand awareness via strategies like production capacity expansion, partnerships and acquisitions will mean rapid business growth in next couple of years.
Renowned Industry Firms
BASF SE (Germany), Archer Daniels Midland Company (US), Bluestar Adisseo (China), Cargill, Incorporated (US), Kemin Industries (US), Alltech (US), DLG Group (Denmark), Nutreco N.V. (The Netherlands), Koninklijke DSM N.V. (The Netherlands), and InVivo NSA (France) are the affluent developers of chelated trace minerals in the worldwide market.
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