Global chelated trace minerals market is growing continuously over the past few years. The market growth is predominantly driven by the flourishing animal feed market worldwide. Chelated trace minerals, also known as organic trace minerals, play a causal role in enhancing the growth and performance of the livestock by increasing the nutritional levels in feed products and optimizing the digestion systems in animals. As a result, chelated trace minerals are extensively added to animal feed products.
According to a leading research firm - Market Research Future (MRFR), the global chelated trace minerals market is estimated to register a significant increase by 2023, growing at a phenomenal CAGR over the review period (2018 - 2023). Also, the rise in the dairy industry is continually challenging dairy producers to increase herd productivity and profitability. The utilization of organic trace minerals ensures maximized herd productivity, which, in turn, increases the adoption of these minerals.
The increasing awareness about the benefits that chelated trace minerals offer is boosting market demand hugely. Application of trace mineral nutrition in dairy rations continues to receive significant attention. Besides, substantial R&D budgets are increasing the size of the market. Additionally, factors such as the increase in the demand for animal protein and meat products substantiate the growth of the market.
Conversely, price volatility and the demand-supply gap in raw materials required for the production of chelated trace minerals are major factors expected to impede the growth of the market during the years to come. However, advances in chelating techniques & technologies and favorable government regulations would support the growth of the market throughout the anticipated period.
Chelated Trace Minerals Market - Segmentations
The analysis has been segmented into five major dynamics.
By Type : Zinc, Iron, Cobalt, Copper, and others.
By Form : Dry and Liquid.
By Chelate Type : Proteinates, Amino Acids, Polysaccharide Complexes, and others.
By Livestock : Ruminant, Swine, Poultry, Aquaculture, and others.
By Regions : Europe, Americas, Asia Pacific, Middle East & Africa, and Rest-of-the-World.
Global Chelated Trace Minerals Market - Regional Analysis
Europe accounts for the largest share in the global chelated trace minerals market size due to the presence of a flourishing pet food and supplements market. Besides, growing applications of chelated trace minerals in animal feed led by the increasing demand for more nutritious animal feed products drive the regional market growth, majorly.
Additionally, factors such as the high awareness for pet/animal care and food safety regulations and the rising demand for meat and dairy products foster the market growth in the region. Germany, UK, and Russia are the major growth contributors for the regional market. The European chelated trace minerals market is further projected to grow at a significant CAGR over the assessment period.
North America stands second in the global chelated trace minerals market. Factors such as the augmenting demand in the production of a number of animal feed products and high per capita expenses drive the market growth. Moreover, stringent regulatory framework and high adoption of advanced technologies propel the growth of the regional market.
The US, with its huge market demand, contributes to the regional market growth, majorly. The North American chelated trace minerals market is forecasted to create a substantial revenue pocket over the assessment period.
The chelated trace minerals market in the Asia Pacific region is growing briskly. The market is predominantly led by the rising demand for high-quality meat & animal protein. Besides, factors such as the rapid industrialization, the presence of many producers & cost-comprehensive labor-force, and growing exports drive the market demand excellently. Also, growing investments in the market and improved standard of living of the population in the rapidly growing APAC countries such as India, China, and Japan push the market growth substantially.
Global Chelated Trace Minerals Market - Competitive Analysis
Fiercely competitive, the chelated trace minerals market appears well-established with the presence of several notable players. To gain a larger competitive share in the market, these players adopt strategic initiatives such as mergers & acquisitions, collaboration, expansion, and product/ technology launch. Players invest substantially to meet their expansion plans. They acquire small yet promising companies from emerging regions. Rising product innovations and oil extracting technologies are expected to create strong investment opportunities for global players.
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Players active in the global chelated trace minerals market include Cargill, Incorporated (US), BASF SE (Germany), Archer Daniels Midland Company (US), Koninklijke DSM NV (The Netherlands), Nutreco NV (The Netherlands), Kemin Industries (US), InVivo NSA (France), Bluestar Adisseo (China), DLG Group (Denmark), and Alltech (US), among others.
Industry/ Innovation/ Related News:
November 08, 2019 ---- Novus International, Inc. (the US), a leading global animal health & nutrition company, announced the deployment of Compliance & Risk Management Solution to automate the collection of compliance & regulatory documents from its suppliers to reduce the risk. Novus products include MINTREX® chelated trace minerals and ALIMET® and MHA® feed supplements, among several others feed acid, preservative, premixture, enzyme, and feed additive
The automated compliance management solution is designed by ReposiTrak, Inc., a leader in solutions for compliance, sourcing, food safety, stock replenishment, and risk management for the retail supply chain. Novus International has been helping livestock & poultry producers to maintain their health and optimize the performance of their animals. It had been looking for a tool that would automate its compliance activities and replace current processes to reduce its exposure to risk.
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