Market Size of Animal Feed Trace Minerals Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 562.12 Billion |
| Market Size (2029) | USD 770.15 Billion |
| CAGR (2024 - 2029) | 6.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Animal Feed Trace Minerals Market Analysis
The Animal Feed Trace Minerals Market size is estimated at USD 562.12 billion in 2024, and is expected to reach USD 770.15 billion by 2029, growing at a CAGR of 6.5% during the forecast period (2024-2029).
- The increasing demand for mineral rich animal meat is primarily driving the animal feed trace minerals market. High protein content and quality animal meat are the utmost preference of the consumers.Additionally, the rising popularity of water-soluble natural feed-added substances, and developing animal feed industriesacross the globe are some other factors responsible for the increased consumption oftrace minerals in animal feed.
- 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, have enabled livestock producers to utilize feed withtrace minerals, as they are highly effective in promoting the healthier growth of animals and in improving the fertility rate.
