Animal Feed Organic Trace Minerals Market Is Expected to Expand Significant CAGR from 2018 to 2024

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Global Animal Feed Organic Trace Minerals Market
size to exceed 750 Mn by 2024
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Key Insights from Animal Feed Organic Trace
Minerals Market

• Increasing consumer awareness pertaining to the
  side effects of chemically-processed food will
  boost animal feed organic trace minerals demand.
  A substantial increment in the meat dairy
  products will enhance market growth. For
  instance, as per the recent FAO reports, the
  global meat consumption per capita was around 41
  kg, which is projected to surpass 45.3 kg by
  2030. Consistently increasing food demand in the
  form of dairy and meat products due to rapid
  population growth will drive the animal feed
  organic trace minerals penetration in the feed
  industry. The world population is expected to be
  over 9.7 billion by 2050 with a global birth rate
  of 18.7 births per 1,000 people.
• Rising consumer awareness pertaining to the
  livestock diseases along with the necessity for
  safe livestock nourishment practices will
  proliferate the business expansion. Moreover, the
  increasing outbreaks of diseases such as Avian
  Influenza in poultry owing to the lack of
  minerals have resulted in a growing demand for
  these products supplements. Iron trace mineral is
  anticipated to witness over 6.5 growth in terms
  of revenue up to 2024. Iron is the second major
  micronutrients that are utilized in the
  production of animal feed. It is a crucial
  mineral that is used to improve digestion among
  the ruminants owing to its oxygen carrying
  capacity in the body. The iron deficiency leads
  to a poor overall health in poultry animals,
  reducing their productivity and leading to huge
  losses for farm owners.

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Continued...

• Manganese accounted for more than 15 of the
  global animal feed organic trace minerals demand
  in 2017. Key health benefits including regulation
  of the certain enzymes, major nutrient for the
  skeletal development, and maintenance of the
  cartilage integrity among the livestock will
  propel the product demand in the market. Poultry
  segment is anticipated to surpass USD 90 million
  revenue by 2024. For instance, as per the recent
  industry estimates, the global poultry
  consumption is increasing significantly at a
  growth rate of over 4.
• Asia Pacific animal feed organic trace minerals
  market will witness over 6 CAGR from 2018 to
  2024. Increasing demand for protein meal in
  emerging economies, including India, China,
  Australia, and Malaysia is likely to propel the
  meat consumption. Additionally, high consumption
  of the chicken in South Asian countries along
  with the high preference to pork in North East
  Asia will further propel regional industry
  growth.
• Phibro Animal Health, Novus International,
  Alltech Inc, Zinpro, Royal DSM NV, Cargill,
  Archer Daniels Midland, and Nutreco NV are among
  the major animal feed organic trace minerals
  companies. The global industry share is highly
  consolidated owing to the presence of few
  dominating players. Collaborations, mergers
  acquisitions, and product enhancements are among
  the key strategies to gain significant
  competitive share by the major industry players.

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North America Animal Feed Organic Trace Minerals
Market, By Mineral, 2017 2024, (Kilo Tons)

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