Increasing intake of meat &dairy products due to rising population has enhanced necessity for animal feed organic trace minerals. Global meat production surpassed 300 million tons in 2016, with major concentration in Southern Asia.
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Animal Feed Organic Trace Minerals Market size is estimated to surpass USD 845 million by 2024; according to a new research report.
Shifting consumer preference towards natural fodder coupled with healthy diet will propel the industry growth.
Lack of essential nutrients in fodder impacting the health makes the product crucial in daily animal feed.
Rising product demand in poultry diet to activate hormones and enzymes for better metabolic process will support the industry demand. Weight gain, better food absorption rate, disease prevention, and reduced fatigue are key product benefits.
Strong outlook in structural, catalytic, DNA synthesis owing to its cell proliferation &replication properties will drive the industry growth. Rising customer consciousness pertaining to side effects on livestock due to synthetic products will fuel the demand.
Zinc market was worth over USD 225 million in 2016. Improving immunity and wound healing capabilities are the major benefits driving the product demand.
Stringent regulations by FDA and REACH on synthetic fodder production will create new avenues in forecast timeframe. Extensive R&D by the nutritionists to develop alternative ingredients may pose a challenge for the product demand.
Ruminants will witness growth over 6.5% up to 2024. Rising demand for milk and its byproducts accompanied by increased red meat consumption will propel the product demand.
Russia animal feed organic trace minerals market from poultry is expected to grow over 8.5% up to 2024.
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Poultry is estimated to observe CAGR over 7% up to 2024. High chicken consumption globally along with increasing poultry farming are the major factors driving the product development.
The global poultry production is expected to surpass 131 million tons up to 2024.
U.S. animal feed organic trace minerals market from iron was valued over USD 25 million in 2016. Strict environmental regulations coupled with rising awareness regarding health and nutritional food habits will stimulate regional demand.
China animal feed organic trace minerals market is expected to generate over USD 60 million by 2024. Rapid economic growth, increased consumption of meat as source of protein has encouraged the product demand.
Europe will witness over 6.5% CAGR up to 2024. Large presence of pork processing facilities particularly in France and Germany will stimulate industry growth.
Germany animal feed organic trace minerals from manganese will surpass USD 8.5 million by 2024. Enhanced enzymes to improve bone structure and metabolism will remain supporting factors of the product development.
Royal DSM, ADM, Tanke Biosciences, Biochem, Pancosma, Zinpro, Novus International, Kemin Industries, Selko, Ridley, Nutreco NV and Vamso Biotec are the major manufacturers of animal feed organic trace minerals market. Presence of numerous regional and local producers makes the industry highly competitive in nature.
Mergers, supply agreements and product portfolio expansion are among key strategies.
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