Chelated Trace Minerals Market Research Future Insights
According to market research future insights analysis, the global chelated trace minerals market is expected to register a CAGR of ~ 7.63% from 2022 to 2030 and hold a value of over ~USD 6,606.14 million by 2030.
The trace elements are chelated, which increases their availability to animals and facilitates easy absorption while enhancing cattle performance. The demand for these trace minerals has grown as people become more aware of the advantages of chelated trace minerals. The need for high-quality animal-based goods has significantly expanded the chelated trace mineral market overview. Additionally, the major competitors in the chelated trace minerals market report are presented with a sizable market opportunity because of the growing knowledge of precision nutrition approaches to enhance meat quality. Consumers desire to eat a higher-protein diet because of the rapid change in their lives and the rise in their disposable income. A rise in the sales of chelated minerals for treating animal ailments brought on by tainted food has also increased demand for nutritionally balanced and high-quality animal feed, increasing demand for chelated minerals. Due to the concern that the virus (COVID-19) could be transmitted to humans through consumption, consumers' trust in the safety of eating poultry products has decreased. As a result, there is less demand for animal feed on the international market. Additionally, one of the key factors hindering the expansion of the chelated trace mineral market is the strict regulatory framework governing the permissible limits of some minerals in feed products. The United States Department of Agriculture (USDA) and other administrative organizations have detailed the regulatory criteria for many feed additives.
Key Players
Some key market players are Archer Daniels Midland Company, Cargill, Incorporated, BASF SE, Kemin Industries, Koninklijke DSM N.V., Nutreco N.V., DLG Group, InVivo NSA, Bluestar Adisseo, and Alltech
Market Segmentation
The global chelated trace minerals market has been segmented into type, form, chelate type, and livestock.
Based on product type, the market has been segmented into zinc, iron, cobalt, copper, and others. The iron segment accounted for the largest share of the market in 2021. A lack of iron can cause anemia, diarrhea, and stunted growth in animals. Iron is essential for tissue metabolism. According to estimates, the iron market will grow far faster than it did during the previous period because of regulatory agencies' widespread acknowledgment of iron as a trace mineral. On the other hand, the zinc segment was the fastest-growing segment during the forecast period due to the increasing deficiency of zinc in the body.
Based on form, the market has been segmented into dry and liquid. Liquid accounted for the largest revenue share in 2021 in the chelated trace minerals market. The items are easier to maintain than dry forms and deliver the ingredients more hygienically. Moreover, the advantages of dry form over liquid form are long shelf life, affordability, and simplicity of fixing with feed items. Additionally, the body absorbs dry feed more effectively when given directly rather than as a supplement. On the other hand, the liquid was the fastest-growing segment. This is due to the increase in oral intake of such minerals.
Based on end-user, the market has been segmented into amino acids, proteinates, polysaccharide complexes, and others. The amino acids segment accounted for the largest revenue share in 2021 in the market for chelated trace minerals. The trace mineral market is thought to be dominated by amino acids since animals readily absorb them. The connection of mineral and amino acid molecules results in a more stable structure. It helps minerals survive at the extremely low pH of the stomach, which is the cause of absorption. It was the perfect chelator because it was resistant to bacteria and incapable of being degraded by enzymes. Proteinates were the fastest growing as several people intaking protein shakes is increasing due to awareness of a healthy lifestyle.
Based on livestock, the market has been segmented into ruminant, swine, poultry, aquaculture, and others. The amino acids segment accounted for the largest revenue share in 2021 in the market for chelated trace minerals. The main factor limiting market growth is the growing use of animal protein in the average diet. Technology development and improved animal vaccination are also boosting global productivity increase. Aquaculture was the fastest growing due to increasing love for seafood.
Regional Analysis
Chelated trace minerals market trends in North America will dominate the market in 2021. Growing livestock output and consumer demand for livestock and livestock-based goods in this region have made it possible for feed makers to use chelated trace minerals, which are highly successful at promoting enhanced animal growth and reproductive rates.
Asia Pacific is expected to register lucrative growth in the market for chelated trace minerals. The only factor driving the market for the product is the rising demand for chicken meat and its byproducts from economically sound nations like India, China, Japan, and other countries in the Asia-Pacific area. The demand for meat high in protein has increased over the past few years due to better diets and a growing understanding of the need for critical nutrients in a balanced diet.
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