Chelated trace minerals are essential nutrients that play a critical role in animal health and productivity. These minerals, including zinc, copper, iron, manganese, and others, are bound to organic molecules, enhancing their absorption and utilization by animals. The global chelated trace minerals market has been experiencing substantial growth due to increasing awareness about animal nutrition, advancements in agricultural practices, and the rising demand for high-quality animal products. This blog will delve into the industry analysis and market trends of chelated trace minerals.
Chelated Trace Minerals Market Size was valued at USD 3.76 Billion in 2023. The chelated trace minerals market industry is projected to grow from USD 4.04576 Billion in 2024 to USD 6.766 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.64 % during the forecast period (2024 - 2032).
Industry Analysis
The chelated trace minerals industry has witnessed robust growth over the past few years. Several factors contribute to this upward trajectory:
- Rising Demand for Animal Protein: As the global population grows and incomes rise, there is an increasing demand for animal protein. This drives the need for enhanced animal nutrition to ensure high productivity and quality in meat, milk, and eggs.
- Advancements in Animal Nutrition: Technological advancements in animal nutrition have led to the development of more effective and efficient chelated trace minerals. These innovations improve the bioavailability of minerals, reducing the required dosage and minimizing waste.
- Health and Wellness Trends: There is a growing emphasis on animal health and welfare. Chelated trace minerals are known to enhance immune function, reproductive performance, and overall health in livestock, making them a preferred choice among farmers and producers.
- Regulatory Support: Governments and regulatory bodies across the globe are recognizing the importance of animal nutrition. This has led to supportive policies and guidelines promoting the use of chelated trace minerals in animal feed.
Key Players:
BASF (Germany), Nutreco (Netherlands), Titan Biotech (India), DSM NV(Netherlands) Kemin Industries (US), Alltech (US), Glanbia PLC (Ireland), Balchem (US), Innophos (US), Novus Interantional (US).
Market Trends
Several key trends are shaping the chelated trace minerals market:
- Shift Towards Organic and Natural Products: Consumers are becoming more conscious of the food they consume and are demanding natural and organic animal products. This has led to an increased preference for natural chelated trace minerals over synthetic alternatives.
- Regional Growth: Emerging economies in Asia-Pacific, Latin America, and Africa are experiencing rapid growth in the chelated trace minerals market. Factors such as expanding livestock populations, improving agricultural practices, and rising disposable incomes are driving demand in these regions.
- Sustainability and Environmental Concerns: The livestock industry is under pressure to adopt sustainable practices. Chelated trace minerals, by improving feed efficiency and reducing environmental impact, align with these sustainability goals.
- Innovation in Formulations: Companies are investing in research and development to create innovative chelated trace mineral formulations. These new products aim to enhance bioavailability, stability, and compatibility with other feed components.
- Integration with Precision Nutrition: The trend towards precision nutrition, where diets are tailored to the specific needs of animals, is gaining momentum. Chelated trace minerals play a crucial role in this approach, ensuring that animals receive the right balance of nutrients for optimal health and productivity.
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Table of content:
- Executive Summary
- Scope of the Report
- Market Research Methodology
- Market Landscape
- Market Dynamics
To be continued....
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