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Global Mineral Feed Market 2023 Competitive Landscape, Future Growth, Industry Share And Top Key Players Analysis Till 2032| Nutreco, Novus International, Kemin Industries, Cargill Incorporated, Royal DSM
Mineral Feed Market
The Business Research Company's Mineral Feed Global Market Report 2023 identifies increase in demand for nutritional supplements as the major driver for the Mineral Feed Market's growth in the forecast period. ineral feeds are an important source of essential minerals and trace elements that are required for the proper growth, development, and health of livestock animals. With the increasing demand for animal products, there is a corresponding need to improve the productivity and efficiency of livestock farming. This can be achieved using mineral feeds that are specifically formulated to provide the necessary minerals and nutrients that may be lacking in an animal's diet.
The global mineral feed market size is expected to grow from $4.46 billion in 2022 to $4.73 billion in 2023 at a compound annual growth rate (CAGR) of 6.09%. 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 mineral feed market size is expected to reach $5.77 billion in 2027 at a CAGR of 5.09%.
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Major competitors in the mineral feed market are Nutreco, Novus International, Kemin Industries, Cargill Incorporated, Royal DSM, Brilliant Bio Pharma Pvt Ltd, Purina Mills, Josera Petfood GmbH and Co. KG, Kalmbach Feeds, Ranch-Way Inc., BASF SE, Novozymes, Mercer Milling Company, Pancosma, and Archer Daniels Midland.
A key trend in the Mineral Feed Market includes Product innovation. Major companies operating in the mineral feed industry are focused on developing innovative solutions to strengthen their position in the market. For instance, in March 2021, Ralco, a US-based livestock feed and animal health company, launched Summit Mineral. It is an expansion of their beef product line. With Ralco's unique ruminant technology, this whole range of mineral supplements is designed to assist cattle perform at their highest level while also maximizing mineral nutrient levels, ratios, and bioavailability throughout every season and challenge.
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The Mineral Feed Market is segmented -
By Macro Minerals Types: Calcium, Phosphorous, Magnesium, Potassium, Other Macro Minerals
By Micro Minerals Types: Iron, Copper, Zinc, Other Micro Minerals
By Animal Type: Ruminant, Poultry, Swine, Aquaculture, Other Animal Types
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Mineral Feed Market.
The Business Research Company's "Global Mineral Feed Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Mineral Feed Market Include:
1. Executive Summary
2. Mineral Feed Market Characteristics
3. Mineral Feed Market Trends And Strategies
4. Mineral Feed Market - Macro Economic Scenario
5. Mineral Feed Market Size And Growth
……
26. Africa Mineral Feed Market
27. Mineral Feed Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Mineral Feed Market
29. Mineral Feed Market Future Outlook and Potential Analysis
30. Appendix
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