U.S. Animal Feed Organic Trace Minerals Market Size & Outlook
U.S. animal feed organic trace minerals market, 2018-2030 (US$K)
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U.S. animal feed organic trace minerals market highlights
- The U.S. animal feed organic trace minerals market generated a revenue of USD 95,725.8 thousand in 2023 and is expected to reach USD 151,886.4 thousand by 2030.
- The U.S. market is expected to grow at a CAGR of 6.8% 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 95,725.8 thousand |
| Market revenue in 2030 | USD 151,886.4 thousand |
| Growth rate | 6.8% (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, U.S. accounted for 17.5% 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 U.S. 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.
Growing awareness about the advantages of protein intake in daily diet has increased meat consumption in this country, driving the market for animal feed and organic trace minerals. The highly pathogenic avian influenza (HPAI) was responsible for the loss of millions of chickens and turkeys in the U.S. in 2015, which affected the market.
However, the market has stabilized and is expected to grow steadily over the forecast period. Since zinc is used to improve animal immunity, it is considered a vital trace mineral in this country, especially after the avian influenza outbreak resulted in millions of animal deaths in 2015.
Growing demand for animal feed is expected to drive the market for organic trace minerals in this country over the forecast period. The U.S. is known as one of the major milk and milk products manufacturers in the world. The country's dairy industry is characterized by state-of-the-art manufacturing and storage facilities.
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Animal Feed Organic Trace Minerals Market Scope
Animal Feed Organic Trace Minerals Market Companies
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U.S. animal feed organic trace minerals market size, by product, 2018-2030 (US$K)
U.S. Animal Feed Organic Trace Minerals Market Outlook Share, 2023 & 2030 (US$K)
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