The trace minerals in feed market is expected to increase from US$ 552.67 billion in 2023 to US$ 926.04 billion in 2033.

The worldwide economic slump has had an insignificant impact on the global beef business. Because of changing food preferences, urbanization, population growth, and economic growth, the Asia Pacific and South America region are expected to witness massive growth in meat consumption.

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China’s demand for meat, for example, continues to outstrip domestic supply, according to Agriculture and Agri-Food Canada. Fish is high in protein and low in fat, carbs, and cholesterol. They also include vital vitamins and amino acids. As more people become aware of the health benefits of eating fish, these factors contribute to a fast-increasing global demand.

The worldwide meat and seafood sector is also expanding due to changing population patterns. The use of trace elements in animal feed is encouraged by life expectancy and the limited availability of land and water supplies to create animal feed, which drives the global market.

Trace minerals, also known as micro minerals, are highly important minerals that should be absorbed by the human body with food; however, unlike macro minerals, we only require a very minimal amount of trace minerals in our diet. Even though trace minerals are only required in trace amounts, they are critical to our health and bodily growth. However, the stringent regulatory framework governing the permissible limits of certain minerals in feed products increased product costs, and rising research and development costs are the key factors acting as restraints, while increased prices associated with trace minerals as an additive further challenge the growth of trace minerals in feed market during the forecast period mentioned above.

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Key Development in the Trace Minerals in Feed Market

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The post FMI Estimates Trace Minerals in Feed Market to Surge a CAGR of 5.4% from 2023 to 2033 appeared first on Future Market Insights.