What is the global market size of Feed Major Minerals Market?

Global Feed Major Minerals Market size was valued at USD 3.95 billion in 2021 and is poised to grow from USD 4.1 billion in 2022 to USD 5.79 billion by 2030, growing at a CAGR of 3.9% in the forecast period (2023-2030).

Feed Major Minerals Market Size, Share, Growth Analysis, By Type(Calcium, Phosphorous, Magnesium, Potassium), By Application(Ruminants, Aquaculture, Swine, Poultry), By Region - Industry Forecast 2024-2031

Report ID: SQSG30C2032 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 67 | Figures: 75

Feed Major Minerals Market Dynamics

Feed Major Minerals Market Driver

Increasing the demand for meat and other animal products.

Growth in countries like India, China, and Japan has increased the need for meat and other animal products. Demand for feed additives, which give nutritional advantages and prevent diseases in animals and so boost earnings for the farmer, is expected to rise the next time as a result of this trend. These are some of the most important drivers of the projected rise in demand for main feed minerals.

Feed Major Minerals Market Restraint

The increasing costs of production restrain the market growth.

As far as the use of additives goes the major factor driving the price of the raw materials are supply chain of the material. As we have witnessed a shortage of minerals and other raw materials globally during the COVID pandemic same could restrain the feed major minerals market growth and slow down the demand for feed major minerals market growth.

Feed Major Minerals Market Report Snapshots

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Feed Major Minerals Market size was valued at USD 3.95 billion in 2019 and is poised to grow from USD 4.1 billion in 2023 to USD 5.79 billion by 2031, growing at a CAGR of 3.9% in the forecast period (2024-2031).

The feed major minerals market is relatively fragmented, with a high level of competition. Few large players, like Cargill, Inc., DSM, and BASF SE, now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability. 'Cargill, Inc.', 'Archer Daniels Midland Company', 'Nutreco N.V.', 'DSM Nutritional Products AG', 'Alltech, Inc.', 'Balchem Corporation', 'BASF SE', 'Kemin Industries, Inc.', 'Novus International, Inc.', 'Phibro Animal Health Corporation', 'Zinpro Corporation', 'Bio Agri Mix LP', 'Pancosma SA', 'QualiTech Corporation', 'Ridley Inc.', 'Aries Agro Limited', 'Tanke International Group', 'Novotech Nutraceuticals, Inc.', 'Agrimin Limited', 'Charkit Chemical Company LLC'

Growth in countries like India, China, and Japan has increased the need for meat and other animal products. Demand for feed additives, which give nutritional advantages and prevent diseases in animals and so boost earnings for the farmer, is expected to rise the next time as a result of this trend. These are some of the most important drivers of the projected rise in demand for main feed minerals.

Bioavailability of the minerals describes the number of nutrients an animal's metabolism can absorb and use. Consumption includes transport, cellular uptake, and biochemical change. Due to constraints on trace elements in feed to address environmental problems, cattle ranchers can't boost feed conversion efficiency without adding more mineral supplements. Manufacturers are developing organic versions of inorganic trace elements to increase bioavailability and animal productivity. Copper, zinc, selenium, and chromium are organic trace elements. To alter market demand for mineral supplements, farmers must learn about organic mineral chelates.

In 2021, Asia Pacific dominated the feed major mineral market globally and is expected to do so during the analysis period. The increasing population and growing economies such as India, China, and Japan are driving the demand for animal-sourced protein food in the region. This trend is to grow in the coming time which will drive the demand for feed additives as these provide nutritional benefits and prevent diseases in animals which increase profits for the farmer. These are some of the major factors for increasing the demand for major feed minerals demand during the forecast period.

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Feed Major Minerals Market Size, Share, Growth Analysis, By Type(Calcium, Phosphorous, Magnesium, Potassium), By Application(Ruminants, Aquaculture, Swine, Poultry), By Region - Industry Forecast 2024-2031

Feed Major Minerals Market Dynamics

Feed Major Minerals Market Report Snapshots

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