Trace Minerals In Feed Market Size – USD 472 Million in 2020, Industry Growth – at a CAGR of 5.2%, Market Trends –Growing need for animal protein in diet
The global trace minerals in feed market is foreseen to be valued at USD 707.7 Million by 2028 from USD 472 Million in 2020, registering a CAGR of 5.2% throughout the estimated timeline. Trace minerals which are necessary for maintaining normal animal health and stimulating immune function include iron, zinc, copper, selenium, and manganese. The performance of animal is dependent on a healthy mineral state preservation among them. Therefore, the trace minerals have become an essential nutrient for animal’s livestock production. These minerals are highly required in several metabolic reactions.
The industry is fueled by an increasing production of animal compound feed. With the elevating demand for different types of meat/meat products and the rapid improvement in the quality of diets, especially the trend in protein-rich diets among large base of customers globally, the overall requirement for compound feed has been rising in several nations of North America, Asia Pacific, and Europe. Rising need for white and red meat has been elevating day by day in all these countries, which has contributed significantly to the sector growth. A sudden improvement in the feed mills is responsible for the expansion of compound feed, which is also supporting the growth of the industry.
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