02 March 2021
Visiongain has published a new report on Animal Feed Organic Trace Minerals Market Report to 2031: Forecasts By Product Type (Zinc, Iron, Copper, Selenium, Manganese, Cobalt, Others), By Livestock (Poultry, Bovine, Swine, Equine, Ovies Aries, Canine, Feline, Others) PLUS Profiles of Leading Animal Feed Organic Trace Minerals Manufacturing Companies and Regional and Leading National Market Analysis, PLUS COVID-19 Recovery Scenarios.
Global Animal Feed Organic Trace Minerals market was valued at US$ XX million in 2020 and is projected to reach at a market value of US$ XX million by 2031. Growing feed production is one of the major factors supporting market growth of animal feed organic trace minerals market across major regions.
COVID-19 Impact on Animal Feed Organic Trace Minerals Market
The impact of COVID-19 has severely reshaped the norms of the meat and poultry industry. During the initial phase of the lockdown, meat and poultry industry were dealing with rumours that coronavirus can spread through food. As a result of this, consumers refrained from purchasing fresh meat products, which resulted in a sharp decline in the consumption of meat products. Further, due to the pandemic and the lockdown that was imposed by governments, production facilities were forced to shut down, thereby creating a demand supply gap. However, the animal feed organic trace minerals industry did not witness a negative impact in the supply chain, as the end products of this industry are designated as ‘essentials’. Although meat products witnessed a slump in demand during initial phase of the lockdown, that phase has crossed and the situation is gradually improving. Countries are coming out of the lockdown phase, and production facilities are gradually reopening, and the gap in the supply chain process is gradually decreasing. Frozen meat products witnessed a severe drop in sales during the initial phase of the lockdown as retail stores were forced to close down, reducing the frequent customer visits. In addition, tightening wallets of the consumers forced them to focus only on essential products, which excludes frozen processed meat products, contributing to the declining sales of these products
Growing Production of Compound Feed
Compound feed is the feed that is produced based on the animals’ different stages of growth, different production uses and different psychological requirements, as well as the research and experiment on the evaluation of the value of feed nutrition. Compound feed production in China stood at 188 million metric tons in 2019, followed by the U.S., which produced roughly 178 million metric tons of compound feed in the same year. Further, India produced approximately 39 million metric tons of compound feed in 2019. China, India, Russia, U.S., Mexico, Spain and Brazil are the seven major producers of compound feed across the globe. Compound feed comes with a lot of benefits for the animals that include heightened performance, consistency, high in nutritional value, and acts as a great value for money as well. India is considered as one of the largest compound feed markets in the world. The poultry industry accounted for major market share in the Indian feed industry. Poultry meat consumption in the country stood at 3.73 million metric tons in 2019, an increase of 0.03 million metric tons from the previous year. These factors are greatly supporting market growth of animal feed organic trace minerals at present, and is likely to continue supporting the growth of the market in the coming years as well.
Growing Demand for Dairy Products
The continuous growth in demand for dairy and dairy products is another major factor pushing the growth of the animal feed organic trace minerals market at present. Dairy products such as cheese, milk and yogurt are highly consumed by a major chunk of the global population almost throughout the year. The global market for yogurt is expected to reach 49,254.4 Kilo Tons by 2026. Europe led the global market for yogurt. Yogurt has received much attention from the geriatric population since consumption of yogurt minimizes the risk frailty among the geriatric populace. Older people suffer from several health complications such as musculoskeletal impairment and immunosenescence among others. Italy, Germany, France and Greece have the highest numbers of geriatric population, and these factors are greatly supporting market growth of yogurt in these countries. In addition, Netherlands, Germany and France have the highest per capita consumption of yogurt in the world. Moreover, U.S. is one of the growing markets for yogurt. Manufacturers of yogurt are spending more on advertising their products, and making them known to the public. Retail chains are also stocking up their shelves with various types of yogurt such as Greek Yogurt, Plain Yogurt, etc. These factors are greatly contributing to the growth of the yogurt market in the Europe and the U.S., which in is turn supporting market growth of animal feed organic trace minerals in these regions/countries.
Strict Framework on the Permissible Limit of Mineral Inclusion in Animal Feed
Regulatory authorities such as the United States Department of Agriculture and the European Commission have put a limit of the use of additives in animal feed. Over the past few years, limits on trace minerals such as copper, zinc, and manganese have been reduced, thereby lowering their demand. Several regulations have been made to the already existing permissible content of zinc in animal feed. This is a major factor slowing down demand for zinc in animal feed. However, limits on few minerals such as selenium have remained consistent.
Some of the companies profiled in the report include Cargill Inc., Archer Daniels Midlands Company, Nutreco N.V., Kemin Industries and Lallemand Inc. among others. These companies are involved in several organic and inorganic strategies in order to ensure long term sustenance in the Animal Feed Organic Trace Minerals market. For instance, in April 2018, Kemin Industries acquired the Unique Beta Glucan Technology, which was developed by Algal Scientific.
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