Chelated Trace Minerals Market

Chelated trace minerals are a type of mineral in which the metal elements are bonded to a chelating agent to hold the complex together. Amino acids, polysaccharide complexes, proteinates, yeast derivate complexes, and propionates are the various chelating agents that perform the bonding function in chelated trace minerals. Chelated trace minerals are widely used for various applications including animal feed, pharmaceuticals, fertilizer, dietary supplements, etc. The global chelated trace minerals market is projected to reach USD 6,606.14 million by 2030 at a CAGR of 7.63% from 2022 to 2030. The increasing production of compound feed and the rising need for animal protein in the diet of people are positively impacting the growth of the market.

Based on type, the global chelated trace minerals market is segmented into zinc, iron, copper, cobalt, chromium, and others. The zinc segment accounted for the largest market share of 28.36% in 2021. The increasing number of research on zinc-chelated products and product launches is driving the growth of the segment. Based on the chelating agent the market is segmented into amino acids, polysaccharide complex, proteinate, and others. The amino acids segment accounted for the largest market share of 65.02% in 2021 and is expected to register a CAGR of 7.93% during the forecast period. By application, the market is segmented into animal feed, dietary supplement, pharmaceutical, fertilizer, and other. The animal feed segment is holding the largest market share in 2021, owing to the increasing focus on sustainability in animal agriculture along with the rising importance of animal nutrition.

BASF SE, Royal DSM N.V., Balchem Corporation, Kemin Industries, and Glanbia Plc are the key players in the market. Increased bioavailability of trace minerals is expected to create opportunities for the players in the market. However, the strict regulatory framework regulating the maximum amounts of various minerals that are permitted in feed products hamper the growth of the market. A significant challenge for the players in the market is the excessive costs associated with the use of trace minerals as an additive.