China Animal Feed Organic Trace Minerals Market Size & Outlook
China animal feed organic trace minerals market, 2018-2030 (US$K)
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China animal feed organic trace minerals market highlights
- The China animal feed organic trace minerals market generated a revenue of USD 108,385.3 thousand in 2023 and is expected to reach USD 205,337.2 thousand by 2030.
- The China market is expected to grow at a CAGR of 9.6% 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 108,385.3 thousand |
| Market revenue in 2030 | USD 205,337.2 thousand |
| Growth rate | 9.6% (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, China accounted for 19.8% 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 Asia Pacific, China animal feed organic trace minerals market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 205,337.2 thousand by 2030.
Zinc was the largest segment with a revenue share of 39.25% in 2023. Horizon Databook has segmented the China 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.
China is one of the most rapidly developing countries in Asia, with growing animal feed, agriculture, pharmaceuticals, construction, chemicals, and automobile sectors. Favorable demographics, economic landscape, manufacturing sector incentives, and a subsidized tax regime for manufacturing are expected to drive this country's animal feed organic trace minerals market.
The growing food industry is also expected to be one of the major drivers of this market in this country. Zinc and iron are extensively used in poultry and pig feed, which dominate the Chinese animal feed market.
Growing awareness about the importance of this mineral has increased its application in other animals, such as cattle and horses, further boosting market share. Conversely, iron is expected to witness the second-highest demand over the forecast period in China. This mineral is also an essential component of the feed for pigs and poultry.
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Animal Feed Organic Trace Minerals Market Scope
Animal Feed Organic Trace Minerals Market Companies
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China animal feed organic trace minerals market size, by product, 2018-2030 (US$K)
China Animal Feed Organic Trace Minerals Market Outlook Share, 2023 & 2030 (US$K)
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