The report “Trace Minerals (Chelated) in Feed Market by Type (Zinc, Iron, Manganese, Cobalt, Chromium, Copper), Livestock (Ruminants, Swine, Poultry, Aquaculture), Form (Dry, Liquid), Chelate Type, and Region – Global Forecast to 2022“, published by MarketsandMarkets™, the market for trace minerals (chelated) in feed, in terms of value is estimated at USD 431.2 Million in 2017 and is projected to reach USD 570.8 Million by 2022, at a CAGR of 5.8 % from 2017.
Standardization of meat products owing to disease outbreaks and increasing awareness about precision nutrition techniques to improve meat quality have led to the increased consumption of chelated trace minerals. Furthermore, growth in livestock production followed by an increase in the number of animal-based products and continuous rise in meat consumption are other factors driving the global chelated feed trace minerals feed market.
In 2016, on the basis of type, the zinc segment accounted for the largest share of the chelated feed trace minerals market in terms of value and volume. Zinc is widely used because of its high applicability for different feed products. Zinc, when added to feed, increases growth in early nursery phase, improves the poor health status of the animals, and it also helps alleviate stress challenges which help in the overall growth of animals.
In 2016, the poultry segment accounted for the largest share of the chelated feed trace minerals market in terms of value and is projected to grow at the highest CAGR from 2017 to 2022. Chelated trace minerals provide optimum mineral nutrition to poultry birds while including fewer minerals in the formulation. These minerals help reduce the overall cost of feed as they offer maximum benefits to the birds, in lower amounts compared to the other mineral sources.
North America is one of the largest producers of livestock and animal-based products in the world, with the US being a major producer. Growing production, as well as consumption of livestock and livestock-based products in this region, has enabled livestock producers to utilize feed with chelated trace minerals, as they are highly effective in promoting the healthier growth of animals and in improving the fertility rate. The US was the largest market for chelated feed trace minerals in North America in 2016. Furthermore, the presence of leading chelated trace minerals companies such as Cargill, ADM, DSM, BASF, and Nutreco in North America, and their continuous efforts for promoting their business in the chelated trace minerals segment through various strategies such as acquisitions and expansions are expected to drive the market for chelated feed trace minerals in this region.