What is the global market size of Feed Minerals Market?

Feed Minerals Market size was valued at USD 38.1 billion in 2021 and is poised to grow from USD 40.2 billion in 2022 to USD 65.08 billion by 2030, growing at a CAGR of 5.5% in the forecast period (2023-2030).

Feed Minerals Market Size, Share, Growth Analysis, By Type(Macro minerals, Microminerals), By Application(Ruminants, Poultry, Swine, Aquaculture), By Region - Industry Forecast 2024-2031

Report ID: SQSG15E2028 | Region: Global | Published Date: April, 2024
Pages: 253 | Tables: 64 | Figures: 75

Feed Minerals Market Dynamics

Feed Minerals Market Driver

The rising demand for premium meat in the processing sector is a key factor fueling the expansion of the global feed mineral market. Farmers from developing countries are becoming more educated, which has contributed to a rise in the need for feed minerals in nations like India, China, Mexico, Brazil, South Africa, and others. Growth in the worldwide feed mineral market can be attributed to the livestock industry's increasing reliance on scientific ways to raise output and guarantee a consistent supply of meat in the market.

Feed Minerals Market Restraint

The rise of animal diseases has the potential to slow the expansion of the international feed mineral market. Due to the difficulty of combating these epidemics, these factors might slow down the feed minerals market growth by restraining the demand.

Feed Minerals Market Report Snapshots

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Feed Minerals Market size was valued at USD 38.1 billion in 2019 and is poised to grow from USD 40.2 billion in 2023 to USD 65.08 billion by 2031, growing at a CAGR of 5.5% in the forecast period (2024-2031).

The feed minerals market is relatively fragmented, with a high level of competition. Few large players, like Cargill Inc., BASF SE, and Kemin Industries, 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. 'Archer Daniels Midland Company', 'Cargill Inc.', 'DSM N.V.', 'Alltech, Inc.', 'Kemin Industries, Inc.', 'Novus International, Inc.', 'Zinpro Corporation', 'Phibro Animal Health Corporation', 'Nutreco N.V.', 'Pancosma SA', 'Selko Feed Additives', 'Animal Products, Inc.', 'Animix LLC', 'Biochem Zusatzstoffe Handels- und Produktionsgesellschaft mbH', 'Balchem Corporation', 'Mercer Milling Company, Inc.', 'QualiTech Corporation', 'Micronutrients USA LLC', 'Ridley Corporation Limited', 'Trouw Nutrition International B.V.'

The rising demand for premium meat in the processing sector is a key factor fueling the expansion of the feed mineral market. Farmers from developing countries are becoming more educated, which has contributed to a rise in the need for feed minerals in nations like India, China, Mexico, Brazil, South Africa, and others. Growth in the worldwide feed mineral market can be attributed to the livestock industry's increasing reliance on scientific ways to raise output and guarantee a consistent supply of meat in the market.

The recent trends for feed minerals are “Chelated Minerals” which are organic trace minerals that are made to help the body absorb and use minerals better. In the digestive tract, the inorganic minerals may react with fiber, phytate, tannin, oxalate, silicates, or other minerals, which could stop them from being absorbed. Organic minerals are protected from these kinds of interactions, which is one reason why they are easier for the body to use.

In terms of revenue, Asia Pacific accounted for the largest market share in the feed mineral market in the year 2021. The rising demand for meat and animal products to meet the protein needs of the growing population is one of the main reasons propelling the expansion of the animal feed additives market in the country. When it comes to milk production, India dominates the international stage. Nonetheless, milk production per cow is low because Indian farmers feed their cows raw agricultural waste like cotton cake and husks. The rising demand for milk means that more processed feed will be needed to raise animal production, driving up the need for feed additives in the country. Over the predicted period, the Asia-Pacific region will continue to be the largest market for Feed Minerals due to its vast and rising production base of livestock and its large feed production capacity.

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Feed Minerals Market Size, Share, Growth Analysis, By Type(Macro minerals, Microminerals), By Application(Ruminants, Poultry, Swine, Aquaculture), By Region - Industry Forecast 2024-2031

Feed Minerals Market Dynamics

Feed Minerals Market Report Snapshots

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