Latin America Animal Feed Organic Trace Minerals Market, By Product (Zinc, Copper, Manganese, Iron, and Others), Livestock (Poultry, Swine, Ruminants, and Others) Industry Trends and Forecast to 2029.
Latin America Animal Feed Organic Trace Minerals Market Analysis and Insights
Organic trace minerals are basically used in small quantities to improve the quality of food/ feed. Trace minerals have an important function in animal health. The inclusion of trace minerals in the meal enhances the rate of absorption. Organic trace minerals are preferred over inorganic trace minerals because of their health benefits and impact on feed flavor. Organic trace minerals are basically used in small quantities to improve the quality of food/Feed. Trace minerals have an important function in animal health. The inclusion of trace minerals in the meal enhances the rate of absorption. Organic trace minerals are preferred over inorganic trace minerals because of their health benefits and impact on feed flavor.
Latin America animal feed organic trace minerals market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 7.3% in the forecast period of 2022 to 2029.
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2015)
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Quantitative Units
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Revenue in USD Million
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Segments Covered
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By Product (Zinc, Copper, Manganese, Iron, and Others), Livestock (Poultry, Swine, Ruminants, and Others).
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Countries Covered
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Brazil, Mexico, Argentina, Colombia, Chile and Rest of Latin America.
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Market Players Covered
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DSM, Pancosma- an ADM Brand, BASF SE, Tate & Lyle, Techna Group, Kemin Industries, Inc., Adisseo, Cargill International, AB Vista, Zinpro Corp., Global Animal Products, Jefo, Norel S.A., and Alltech among others.
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Latin America Animal Feed Organic Trace Minerals Market Dynamics
This section deals with understanding the market drivers, opportunities, restraints, and challenges. All of this is discussed in detail below:
Drivers
- Increasing demand for animal feed organic trace minerals
Feed additives are the type of products used in animal nutrition to improve feed characteristics, such as to enhance the flavor or make feed materials more readily digestible. It is a mixture of chemical substances and microorganisms other than feed premixes and materials, which have characteristics of certain functionality. In Latin America, the production of feed additives is increasing day by day, which is expected to boost the demand of the market.
With all the qualities of organic trace minerals, the prevalence of high feed quality in animal nutrition has increased in the regions. Also, the rising demand for meat and dairy products and the rising consumption of minerals for a better metabolic process has impacted the increased demand for animal feed organic trace minerals among the regions.
- Increasing demand and consumption of livestock-based products
Increasing consumption of livestock products has created high demand because they include various types of additives such as enzymes, amino acids, feed acidifiers, vitamins, probiotics, preservatives, and various types of flavors and sweeteners among others. They have higher-nutritive value, and quality.
In recent decades in the Southern Cone, the livestock sector has boomed because of the increasing demand for livestock-based products across the world. This rapid growth of the livestock food sector has enabled Latin America to become the region that exports most poultry and beef worldwide.
Opportunities
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Enzymes for preprocessing of raw materials
The enzymes are used as processing aids to enhance the nutritional value of raw material. There are various types of enzymes used in animal feed, such as phytase, protease, amylase, cellulose, mannase, glucanase, and xylanase among others. In the manufacturing process of marine protein hydrolysates, the protease enzymes are used to enhance bioavailability and functionality gains.
Enzymes enhance the digestibility of plant-protein concentrates. Proteases, phytase, xylanase, α-galactosidase, and β-glucosidase are used as they reduce or inactivate anti-nutritional factors such as lectins, trypsin inhibitors, oligosaccharides, and phytate.
Also, the strategic initiatives taken by key market players will provide structural integrity and future opportunities for the animal feed organic trace minerals market in the forecast period of 2022-2029.
Restraints/Challenges
- Sustainability of feed and livestock chain
The animal feed industry, mainly represented by livestock farmers and feed suppliers, is currently facing great inefficiencies due to outdated supply chain management. Various types of challenges are faced by manufacturers in manufacturing feed additives.
Each manufacturer in the supply chain will need to be connected to one central system, with easy ways to share information and data. This combined data, together with advanced analysis and reporting, ensure the efficient and safe production of feed ingredients. The manufacturers must follow all the guidelines for manufacturing feed additives. For this reason, the sustainability of the feed and livestock chain is acting as a challenge, thereby restricting the demand of the market
Post COVID-19 Impact on Latin America Animal Feed Organic Trace Minerals Market
COVID-19 has negatively affected the Latin America animal feed organic trace minerals market as the use of animal feed decreased in those years due to supply chain constraints. Hence the use or consumption of poultry products widely decreased among the world's population. Thus, the pandemic has negatively affected the animal feed organic trace minerals market.
Recent Development
- In May 2022, Barentz announced that it had acquired USA-based Ingredients Inc, which is a leading developer and supplier of high-quality ingredients for food and beverage. The acquisition has helped the company expand its business in the U.S. and generated more revenue.
Latin America Animal Feed Organic Trace Minerals Market Scope
Latin America animal feed organic trace minerals market is segmented into product and livestock. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
Product
- Zinc
- Copper
- Manganese
- Iron
- Others
On the basis of product, the Latin America animal feed organic trace minerals market is segmented into zinc, copper, manganese, iron, and others.
Livestock
- Poultry
- Swine
- Ruminants
- Others
On the basis of livestock, the Latin America animal feed organic trace minerals market is segmented into poultry, swine, ruminants, and others.
Latin America Animal Feed Organic Trace Minerals Market Regional Analysis/Insights
The Latin America animal feed organic trace minerals market is analyzed, and market size insights and trends are provided by country, livestock, and product, as referenced above.
In 2022, Brazil is expected to dominate the Latin America animal feed organic trace minerals market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the high demand for animal feed in the region.
The country section of the report also provides individual market impacting factors and changes in regulations in the market that impact the current and future trends of the market. Data points, such as new and replacement sales, country demographics, disease epidemiology, and import-export tariffs, are some of the major pointers used to forecast the market scenario for individual countries. In addition, the presence and availability of Latin America brands and their challenges faced due to high competition from local and domestic brands and the impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Latin America Animal Feed Organic Trace Minerals Market Share Analysis
The Latin America animal feed organic trace minerals market competitive landscape provides details by the competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Latin America presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the company’s focus on the Latin America animal feed organic trace minerals market.
Some of the major players operating in the Latin America animal feed organic trace minerals market are DSM, Pancosma- an ADM Brand, BASF SE, Tate & Lyle, Techna Group, Kemin Industries, Inc., Adisseo, Cargill International, AB Vista, Zinpro Corp., Global Animal Products, Jefo, Norel S.A., and Alltech among others.
Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by the DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Latin America vs. Regional, and Vendor Share Analysis. Please request an analyst call in case of further inquiry
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