The chelated trace minerals market has emerged a continually growing space, mainly due to the animal feed market. Chelated trace minerals or organic trace minerals are extensively used in pet food products that play an essential role in the growth and performance enhancement of the animals. These minerals increase the nutritional levels and improve the performance of the livestock, helping in easy absorption of animal feeds.
Exploiting the dairy animal’s genetic potential through the utilization of organic trace minerals is an easy way to help maximize herd productivity. According to Market Research Future (MRFR), the global chelated trace minerals industry analysis is projected to demonstrate significant gains by 2030. In its recently published analysis, MRFR also asserts that the market would grow at a considerable growth rate during the review period (2022 to 2030).
The increasing awareness regarding the benefits of chelated trace minerals has been boosting market demand. Trace mineral nutrition and its various use in dairy rations continue to receive significant attention led by the R&D to improve its implementation in the field. Also, the growth in the dairy industry is continually challenging dairy producers to increase herd productivity and profitability, which is increasing the size of the market.
On the other hand, price volatility and the demand-supply gap in the raw materials are major factors obstructing the growth of the market. Nevertheless, advancements in chelating technologies and favourable government regulations would support the growth of the market, increasing the demand for chelated trace minerals-based products.
Players leading the global chelated trace minerals market Cargill, Incorporated (US), Archer Daniels Midland Company (US), BASF SE (Germany), Koninklijke DSM NV (The Netherlands), Kemin Industries (US), Nutreco NV (The Netherlands), InVivo NSA (France), DLG Group (Denmark), Bluestar Adisseo (China), and Alltech (US), among others.
Global Chelated Trace Minerals Market - Segments
The report is segmented into five dynamics to widen the scope of understanding,
By Type : Zinc, Iron, Cobalt, and Copper, among others.
By Form : Dry and Liquid.
By Chelate Type: Amino Acids, Proteinates, and Polysaccharide Complexes, among others.
By Livestock : Ruminant, Swine, Poultry, and Aquaculture, among others.
By Regions : Asia Pacific, North America, Europe, and the Rest-of-the-World.
Global Chelated Trace Minerals Market - Regional Analysis
Europe dominates the global chelated trace minerals market and is further expected to grow at a significant CAGR by 2030. Factors, such as the growing applications in the pet food and supplements drive the regional market growth, predominantly. Moreover, the increasing demand for more nutritious animal feed products fosters the growth of the market.
Additionally, high awareness and food safety regulations alongside, high demand for meat and dairy products is fostering the growth of the regional market. Germany, UK, and Russia contribute to the regional market growth, majorly.
North America takes the second leading position in the global chelated trace minerals market. Augmenting demand for chelated trace minerals for several end-use products, drive the growth of the market in North America. The US is the major contributors to the growth of the North American chelated trace minerals market. Owing to the stringent regulatory framework and high rate of technology adoption, countries from Latin America and North America can propel significant growth.
The Asia Pacific chelated trace minerals market is growing at a significant rate. The rapidly increasing feed market led by the rising demand for high-quality meat is driving the market demand across the globe. Rapid industrialization alongside, the presence of numerous producers and the availability of cost-comprehensive labor-force and growing exports substantiate the regional market growth.
Surging demand for chelated trace minerals backed by the growing investments in the industrial sector and improved standard of living in some of the APAC countries such as India, China, and Japan drive the regional market growth. China is one of the largest feed producers, is contributes a major share to the regional market.
Global Chelated Trace Minerals Market - Competitive Analysis
Highly competitive, the chelated trace minerals market appears to be fragmented characterized by the presence of several large and small-scale players. Although well-established players in the market have great geographical proximity, the entry of several new companies poses a fierce competition for them. In such a scenario, these players would incorporate strategic initiatives such as mergers & acquisitions, collaboration, expansion, and product/technology launch to maintain their market position.
Industry/ Innovation/ Related News:
August 12, 2019 ---- Pet food professionals, formulators, and equipment suppliers of Manhattan gathered for a one-day pet food workshop hosted by Kansas State University’s International Grains Program (IGP). The workshop was a four-day short course on extrusion processing, focused on ingredients, and formulation for pet food and treats.
The program was developed to bring attendees up to date on the latest trends in pet food, formulating, ingredients, products predominantly specialty products and other aspects like food safety, plant design. Trace minerals such as copper, iron, zinc, manganese, iodine, and selenium, which are usually combined in a premix in either inorganic or chelated forms, were discussed in the program alongside, the essential vitamins, often added to pet foods as a premix like A, D, E, K, Riboflavin, Thiamine, Pantothenic acid, and the relevant subsets of those vitamins.
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