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Water Soluble Vitamin And Mineral Feed Supplements Market Overview, Strategies, Emerging Trends And Analysis Of Top Key Players - Alltech Inc., Nutreco N.V., Royal DSM, Neovia Group, InVivo, BASF SE
Water Soluble Vitamin And Mineral Feed Supplements Market
Water Soluble Vitamin And Mineral Feed Supplements Market Size, Growth Rate, And Forecast
The global water-soluble vitamins and minerals in feed supplements market size is expected to grow from $4.64 billion in 2022 to $5.30 billion in 2023 at a compound annual growth rate (CAGR) of 14.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global water-soluble vitamins and minerals in feed supplements market size is expected to reach $8.70 billion in 2027 at a CAGR of 13.8%.
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Water Soluble Vitamin And Mineral Feed Supplements Market Drivers
The increasing livestock population is expected to propel the growth of the water-soluble vitamin and mineral feed supplements market going forward. Livestock refers to animals that are kept or raised for various purposes, such as use, pleasure, or profit, particularly those that are raised on farms. An agricultural producer breeds and raises livestock, which encompasses cattle, hogs, horses, poultry, sheep, and small animals. Livestock can be provided with water-soluble vitamin and mineral feed for their nutritional requirements including promoting healthy bone development and maintaining reproductive efficiency. For instance, in March 2023, according to Eurostat, the Luxembourg-based statistical office, between November and December 2022, Italy's pig population rose by 330,000 heads, which represents a 4% increase compared to the same period in 2021. Similarly, Sweden's pig population increased by 50,000 heads, or 3% compared to the same period in 2021. Overall, in May 2022, the European Union had a significant livestock population, with an estimated 142 million pigs, 76 million cattle, 60 million sheep, and 11 million goats. Therefore, the increasing livestock population is driving the growth of the water-soluble vitamin and mineral feed supplements market going forward.
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Water Soluble Vitamin And Mineral Feed Supplements Market Segments
• By Vitamin Type: Vitamin B1, Vitamin B2, Vitamin B3, Vitamin B5, Vitamin B6, Vitamin B9, Vitamin C, Other Vitamin Types
• By Mineral Type: Potassium, Calcium, Phosphorus, Magnesium, Sodium, Iron, Zinc, Copper, Manganese, Other Mineral Types
• By Application: Poultry, Swine, Ruminants, Aquaculture, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the water-soluble vitamin and mineral feed supplements market.
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Water Soluble Vitamin And Mineral Feed Supplements Market Key Players
Major competitors in the water-soluble vitamin and mineral feed supplements market are Alltech Inc., Nutreco N.V., Royal DSM, Neovia Group, InVivo, BASF SE, Archer Daniels Midland Company (ADM), Kemin Industries Inc.
The Business Research Company's "Global Water Soluble Vitamin And Mineral Feed Supplements Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Water Soluble Vitamin And Mineral Feed Supplements Market Include:
1. Executive Summary
2. Water Soluble Vitamin And Mineral Feed Supplements Market Characteristics
3. Water Soluble Vitamin And Mineral Feed Supplements Market Trends And Strategies
4. Water Soluble Vitamin And Mineral Feed Supplements Market - Macro Economic Scenario
5. Water Soluble Vitamin And Mineral Feed Supplements Market Size And Growth
………………
27. Water Soluble Vitamin And Mineral Feed Supplements Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Water Soluble Vitamin And Mineral Feed Supplements Market
29. Water Soluble Vitamin And Mineral Feed Supplements Market Future Outlook and Potential Analysis
30. Appendix
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