Jan 20, 2022, 03:30 ET
SELBYVILLE, Del., Jan. 20, 2022 /PRNewswire/ -- The animal feed organic trace minerals market revenue is projected to cross USD 1.3 billion by 2027, according to a new research report by Global Market Insights Inc. Growing awareness regarding the need to improve gut health and immunity of livestock coupled with the increasing outbreak of diseases in animal will boost the overall market demand.
Animal feed organic trace minerals industry from iron exceeded USD 150 million in 2020 and is expected to grow at a CAGR of 5.5% during the forecast period. Iron is used in haemoglobin formation, and it helps to oxygenate the blood, boosts the immune system, aids cognitive function are expected to raise the product demand.
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Some major findings of the animal feed organic trace minerals market report include:
- Growing demand for highly nutritious, protein-rich foods, such as eggs and poultry meat, in daily diets is likely to boost product demand and drive market growth during the assessment period.
- Global market from swine is anticipated to reach over USD 260 million by 2027 at a CAGR of over 5.5% during the forecast period.
- Asia Pacific market is set to register around 7% CAGR up to 2027 due to increasing poultry farming activities in different countries of Asia Pacific, such as India, China, Thailand, and Japan coupled with favorable government support in the form of schemes and subsidies.
- Alltech, Inc, Archer Daniels Midland Company, Pancosma SA, Biochem, Royal DSM, Vamso Biotec Pvt. Ltd., and Novus International, Inc., are some of the major players operating in the global market.
- Market players are investing heavily in R&D to develop & manufacture innovative & cost-effective products capable of improving the gut health and immunity of livestock.
Browse key industry insights spread across 300 pages with 225 market data tables and 15 figures & charts from the report, "Animal Feed Organic Trace Minerals Market By Mineral (Zinc, Iron, Manganese, Copper), Livestock (Ruminant, Swine, Poultry), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027" in detail along with the table of contents:
Growth in industrial livestock production due to increasing per capita consumption of poultry and beef is expected to drive the demand for animal feed organic trace minerals. According to the Organization for Economic Co-operation and Development (OECD), poultry is be the most consumed in most parts of the region in 2019, followed by beef and veal. For example, per capita consumption of beef and veal in 2019 was 26.7 kg and 17.6 kg, while in 2016 it was 25.4 kg and 18.1 kg. Increasing consumption of poultry and beef lead to commercial livestock and boost the animal feed trace minerals market size.
North America animal feed organic trace minerals industry is anticipated to reach USD 450 million by 2027 at a CAGR of 5.5% throughout the assessment period. According to the Food and Agriculture Organization (FAO), poultry populations increased from 9,038.3 million in 2018 to 9,177.2 million in 2019. The population of cattle and calves in the region was 93.8 million in 2020. Therefore, increasing consumer demand for animal meat will create the need for increased yields that can be achieved by adding organic animal feed additives such as trace minerals to the feed.
Browse the Toc of this report @ https://www.gminsights.com/toc/detail/animal-feed-organic-trace-minerals-market
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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