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Growing health cognizance enlarging the overall meat and dairy consumption is Anticipated to Boost Animal Feed Organic Trace Minerals Market
HYDERABAD, TELANGANA, INDIA, November 29, 2022 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that Animal Feed Organic Trace Minerals Market size is estimated to reach $1,123.5 million by 2027, growing at a CAGR of 6.1% during the forecast period 2022-2027. Trace minerals can be demarcated as chemical compounds which are vital for animals’ health as they prevent the animal’s immunity and they exhibit non-reactive nature toward antagonists. Organic trace minerals ensure the well-being of an animal’s liver which is the home to catalysts and proteins like catalase and ceruloplasmin. Catalase ensures hydrogen peroxide’s disintegration into water and oxygen. Moreover, trace minerals safeguard the proper balance of crucial antioxidants such as glutathione reductase, glutathione peroxidase, and others that helps in the prevention of free radical’s attack. Proliferating infections like pathogenic avian influenza and bird flu due to poor digestion of poultry and other animals are forcing owners to shift toward animal feed trace minerals to ensure animal health which is a major reason for rising demand in the respective market. Augmenting demand for high-quality meat and enlarging usage of additives with water-soluble nature are factors set to drive the growth of the Animal Feed Organic Trace Minerals Market for the period 2022-2027. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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1. Geographically, the Asia-Pacific Animal Feed Organic Trace Minerals Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027.
2. Intensifying meat consumption with the population becoming health aware is said to be a preeminent driver driving the growth of the Animal Feed Organic Trace Minerals Market.
3. Health concerns, hampered demand, and supply chain due to COVID-19 are said to reduce the market growth. Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Animal Feed Organic Trace Minerals Market report.
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1. Any deficiency pertaining to zinc can set many complications like reduction in appetite, vulnerable immunity, and meager growth in motion. Moreover, zinc and copper are estimated to be the fastest-growing segment with a CAGR of 7.5% over the forecast period 2022-2027. This growth is owing to up surging infections like avian influenza and bird flu due to poor health of animals and poultry resulting in reduced consumption.
2. The growth is owing to the delicate health of chicken, turkeys, duck, and swine. Infection prevalence is more common in them as compared to other animals due to their incapacity in digesting 25% of the food. Moreover, another big factor that makes this segment an area of interest is the colossal consumption of chicken and turkey meat due to its nutrient-rich, appetizing, and cost-effective nature.
3. Therefore, due to heavy demand owners are trying to ensure the quality of products by maintaining animal well-being. Poultry and Dairy cattle are estimated to be the fastest-growing segment with a CAGR of 7.8% over the forecast period 2022-2027. This growth is owing to heightening the consumption of meat, milk, cheese, and other dairy products.
4. The Animal Feed Organic Trace Minerals Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. Asia-Pacific held the largest share with 41% of the overall market in 2021. The growth in this segment is owing to the factors such as the massive consumption of seafood (Tuna, Shrimp, Salmon, and many more) in Asian countries such as China, Japan, and Indonesia. Collectively Japan, Indonesia, and China consume more than 75 million tones of seafood.
5. For instance, more than 70% of the European Union’s economy comes from service and around 22-23% from manufacturing. Therefore, with a variety of options per capita income of several European nations has crossed $60,000-65,000. On another hand, in the wake of diversification, various developing nations like India, Indonesia, and many more are witnessing a hike in their GDP per capita.
6. Death rates associated with Chronic illnesses are prevailing globally, especially in developed countries. According to the report, chronic maladies like heart attack and cancer are the biggest reason for increased mortality rates. More than 600,000 people die from heart attacks in the U.S. Moreover, around 17-18 million lose their lives due to coronary heart diseases worldwide. Therefore, considering these trends people have become too health conscious about their dietary intake and exercise.
The top 5 players in the Animal Feed Organic Trace Minerals industry are –
1. Alltech Inc
2. Novus International
3. Phibro Animal Health Corp
5. Kemin Industries
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