Global Organic Trace Minerals for the Animal Feed Market 2016-2020
About Trace Minerals
Trace minerals are inorganic or organic minerals that are crucial for normal functioning of living organisms. They are required in minute quantities. Inorganic trace minerals are common oxides, sulfates, carbonates, and chlorides of minerals. Organic trace minerals are formed by combining inorganic trace minerals with the organic molecules (e.g., polysaccharides and amino acids) called chelates. Organic trace minerals in animal feed are designed to improve the bioavailability and enhance the gut absorption of these minerals in animals.
Technavio’s analysts forecast the global organic trace minerals for the animal feed market to grow at a CAGR of 7.58% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global organic trace minerals for the animal feed market for 2016-2020. To calculate the market size, we have considered the revenue generated from the sales of organic trace mineral products for animal feed market by considering 2015 as the base year.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Organic Trace Minerals for the Animal Feed Market 2016-2020
Technavio recognizes the following companies as the key players in the global organic trace minerals for the animal feed market: Alltech, Kemin, Novus, Pancosma, Tanke, and Zinpro.
Other Prominent Vendors in the market are: DSM, Cargill, and Archer Daniels Midland.
Commenting on the report, an analyst from Technavio’s team said: “Increase in use of water-soluble organic feed additives will be a key trend for market growth. The use of organic trace minerals in water-soluble organic feed additives is a major trend observed in the global organic trace minerals for the animal feed market. Water-soluble organic feed comprises vitamins and organic trace minerals that play an important role in the animal's growth and productivity. These products are easy to administer, digest quickly, and are more effective than dry feed additive products. Tanke Biosciences, a China-based manufacturer of organic trace minerals, has introduced a range of water-soluble organic feed additives containing organic trace minerals and multivitamins.”
According to the report, rise in global meat production and consumption will be a key driver for market growth. Animal feed is the major source of nutrition intake in animals and is crucial in many metabolic processes; they aid in yielding high-quality animal products, including meat. Globally, the per capita consumption of meat was around 90 pounds per annum in 2015. The increasing global population is driving the demand for meat globally, thereby driving the growth of organic trace minerals for animal feed market.
Further, the report states that regulatory issues related to antibiotics will be a challenge for the market. The use of antibiotics is subjected to stringent regulations to ensure its safety to the animals and the prime consumer. The US FDA regulates the approval and use of antibiotics in the US. Regulations mandate that the animals that are fed with antibiotics have to undergo a withdrawal period before slaughtering and the meat from such animals must comply with federal standards for antibiotic residues before it is supplied to the vendors.
Alltech, Kemin, Novus, Pancosma, Tanke, Zinpro, DSM, Cargill, Archer Daniels Midland.
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