Global Organic Trace Minerals for Animal Feed Market 2019-2023| Increasing Usage in Poultry Layer Diets to Boost Growth| Technavio
LONDON--(BUSINESS WIRE)--Jan 18, 2019--The global organic trace minerals for animal feed market is expected to post a CAGR of nearly 6% during the period 2019-2023, according to the latest market research report by .
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Technavio has released a new market research report on the global organic trace minerals for animal feed market for the period 2019-2023. (Graphic: Business Wire)
The growth of the market can be attributed to the harmful effects of consuming inorganic trace minerals. Inorganic trace minerals are being replaced by its organic counterparts which will help producers meet standards set by several regulatory authorities. Raw materials that reduce possible contaminations, encourage suitable product safety, quality, and integrity and meet all standards of use needs to be used in the production of feed components. They must be of merchantable class and follow statutory standards for pollutants and relevant regulations.
As per Technavio, the increasing use of organic trace minerals in poultry layer diets will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global organic trace minerals for animal feed market: Increasing usage of organic trace minerals in poultry layer diets
Organic trace minerals are increasingly being used in poultry layer diets to improve structural components such as skin and bone, deliver essential nutrients for improving immunity and metabolic functions, and boost egg production and improve egg quality. Some of the vital trace minerals available for poultry nutrition include zinc, magnesium, copper, and iron. Trace minerals are crucial in determining the immunity of poultry. Newborn chicks will not receive full benefits of immunization if deprived of trace minerals; which will lead to high mortality rates, poor productivity, and financial losses during its adulthood.
“Trace minerals allow healthy tissue growth. Zinc and copper form a crucial part in the development of collagen, which is a structural protein that improves skin and bone strength. Manganese plays a vital role in bone formation. It is important for turkeys as they are heavier birds and have longer production cycles,” says a senior analyst at Technavio.
Global organic trace minerals for animal feed market: Segmentation analysis
This market research report segments the global organic trace minerals for animal feed market by type (poultry, swine, ruminants, and others) and geographical regions (North America, Europe, APAC, MEA, and South America).
The poultry segment held the largest market share in 2018, accounting for nearly 37% of the market. This type segment is expected to dominate the global market throughout the forecast period.
North America led the market in 2018 with a market share of over 29%. This region is expected to dominate the market through 2023. However, there will be a decrease in its market share.
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Five Forces Analysis
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PUB: 01/18/2019 06:12 AM/DISC: 01/18/2019 06:12 AM