Canada Animal Feed Organic Trace Minerals Market Size & Outlook
Canada animal feed organic trace minerals market, 2018-2030 (US$K)
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Canada animal feed organic trace minerals market highlights
- The Canada animal feed organic trace minerals market generated a revenue of USD 16,682.3 thousand in 2023 and is expected to reach USD 25,568.9 thousand by 2030.
- The Canada market is expected to grow at a CAGR of 6.3% from 2024 to 2030.
- In terms of segment, zinc was the largest revenue generating product in 2023.
- Zinc is the most lucrative product segment registering the fastest growth during the forecast period.
Animal feed organic trace minerals market data book summary
| Market revenue in 2023 | USD 16,682.3 thousand |
| Market revenue in 2030 | USD 25,568.9 thousand |
| Growth rate | 6.3% (CAGR from 2023 to 2030) |
| Largest segment | Zinc |
| Fastest growing segment | Zinc |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD thousand |
| Market segmentation | Zinc, Iron, Copper, Selenium, Other Products |
| Key market players worldwide | Alltech, Archer-Daniels Midland Co, Global Bio-chem Technology Group Co Ltd, Cargill, Kemin Industries, Mercer International Inc, Novus Holdings Ltd, Koninklijke DSM NV |
Other key industry trends
- In terms of revenue, Canada accounted for 3.1% of the global animal feed organic trace minerals market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. animal feed organic trace minerals market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 151,886.4 thousand by 2030.
Zinc was the largest segment with a revenue share of 37.6% in 2023. Horizon Databook has segmented the Canada animal feed organic trace minerals market based on zinc, iron, copper, selenium, other products covering the revenue growth of each sub-segment from 2018 to 2030.
In Canada, the burgeoning demand for meat within the growing food industry significantly propels the animal feed market, particularly spurring the demand for organic trace minerals. The Canadian Meat Council reveals that the typical Canadian diet includes a moderate consumption of red meat, averaging around 61 grams daily.
As meat consumption and its availability rise, the demand for animal feed organic trace minerals in Canada is anticipated to increase, ensuring that livestock receive essential nutrients for health and growth.
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Animal Feed Organic Trace Minerals Market Scope
Animal Feed Organic Trace Minerals Market Companies
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Canada animal feed organic trace minerals market size, by product, 2018-2030 (US$K)
Canada Animal Feed Organic Trace Minerals Market Outlook Share, 2023 & 2030 (US$K)
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