New York, June 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Trace Minerals in Feed Global Market Report 2023" - https://www.reportlinker.com/p06466466/?utm_source=GNW
, Kemin Industries Inc., Lallemand Inc., Virbac SA, QualiTech Inc., Dr. Paul Lohmann Gmbh & Co. KGAA, Koninklijke DSM N.V., Orffa Holdings BV, DLG Group, Veterinary Professional Services Ltd. (Vetpro), Chemlock Nutrition Corporation, Dr. Eckel Animal Nutrition GmbH & Co. KG, Green Mountain Nutritional Services Inc., and JH Biotech Inc.
The global trace minerals in feed market is expected to grow from $496.98 billion in 2022 to $526.43 billion in 2023 at a compound annual growth rate (CAGR) of 5.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The trace minerals in feed market is expected to reach $652.23 billion in 2027 at a CAGR of 5.5%.
The trace minerals in feed market consists of sales of dietary trace minerals and vitamins.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Trace minerals in feed refer to nutritional components that are provided in trace amounts to production and companion animal diets. It is used to give animals the nutrients they need for metabolic tasks like growth and development, immunity, and reproduction.
Asia-Pacific was the largest region in the trace minerals in feed market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the trace minerals in feed market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of trace minerals in feeds are zinc, copper, cobalt, manganese, iron, chromium, and others.Zinc refers to an essential mineral that is found naturally in some foods, is added to others, and can be obtained as a dietary supplement.
It has various chelate types such as amino acids, proteinates, polysaccharides, and others and is available for livestock such as poultry, ruminants, swine, aquaculture, and others. It is available in dry and liquid forms.
Rising meat and fish consumption are expected to boost the growth of trace minerals in feed market going forward.Meat is described as the flesh of animals (including fish and birds) used as food that can be part of a healthy diet.
The growing need for animal protein in the human diet has supported increased meat and fish consumption.Trace minerals are sued to increase the meat and carcass quality of contemporary broiler chickens through the use of mineral clays in feed.
For instance, as per the Agricultural Outlook 2022–2031 report published by OECD–FAO, an Italy-based organization that provides consensus assessments for agriculture and fish markets, global apparent edible fish consumption is expected to reach 21.4 kilograms per capita in 2031, up from 20.5 kilograms in the baseline period (average 2019–2021). Furthermore, poultry meat consumption is expected to rise to 154 metric tons globally throughout the forecast period, accounting for roughly half of the increased meat consumed. Therefore, rising meat and fish consumption are driving the growth of trace minerals in the feed market.
Product innovations have emerged as the key trend gaining popularity in the trace minerals in feed market.Major companies operating in the trace minerals in feed market are developing innovative products to strengthen their position in the market.
For instance, in October 2022, the Zinpro Corporation, a US-based innovator and manufacturer of high-performance organic trace minerals, launched Zinpro IsoFerm for dairy nutrition.The unique features of the Zinpro IsoFerm involve boosting rumen activity by feeding fiber-digesting bacteria directly with game-changing technology.
It is designed to increase feed efficiency, promote sustainability, and boost profitability.
In November 2020, the Bluestar Adisseo Company, a China-based animal nutrition company, acquired the FRAmelco Group for an undisclosed amount.With this acquisition, Adisseo will accelerate its growth to become one of the world’s leading producers of specialty feed ingredients for animal nutrition, while also strengthening its position in the attractive health by nutrition market category.
FRAmelco Group is a Netherlands-based feed additive company.
The countries covered in the trace minerals in feed market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The trace minerals in feed market research report is one of a series of new reports that provides trace minerals in feed market statistics, including trace minerals in feed industry global market size, regional shares, competitors with trace minerals in feed market share, detailed trace minerals in feed market segments, market trends and opportunities, and any further data you may need to thrive in the trace minerals in feed industry. This trace minerals in feed market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06466466/?utm_source=GNW
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