Press release
Mineral Feed Market Key Drivers and Outlook Report 2024-2033: Comprehensive Analysis and Future Trends
Mineral Feed Market
The Business Research Company offers in-depth market insights through Mineral Feed Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The mineral feed market size has grown strongly in recent years. It will grow from $4.73 billion in 2023 to $5.01 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to livestock population growth, rising awareness of animal nutrition, intensification of livestock farming, government initiatives for livestock health, focus on animal welfare.
The mineral feed market size is expected to see strong growth in the next few years. It will grow to $6.1 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to focus on sustainable agriculture, increased meat consumption, technological innovations in feed additives, precision livestock farming, regulatory emphasis on animal nutritionclimate, change adaptation. Major trends in the forecast period include growing emphasis on animal nutrition and health, rising adoption of specialty minerals, regulatory compliance and quality assurance, technological advancements in feed manufacturing, focus on sustainable and ethical sourcing.
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Market Segmentation:
The mineral feed market covered in this report is segmented -
1) By Macro Minerals Types: Calcium, Phosphorous, Magnesium, Potassium, Other Macro Minerals
2) By Micro Minerals Types: Iron, Copper, Zinc, Other Micro Minerals
3) By Animal Type: Ruminant, Poultry, Swine, Aquaculture, Other Animal Types
Major Driver - Surging Demand For Nutritional Supplements To Drive Market Growth
The increase in demand for nutritional supplements is expected to propel the growth of the mineral feed market going forward. Mineral 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. For instance, according to the Consumer Survey on Dietary Supplemen*ts, a 2022 online survey among 3,133 U.S. adults age 18+, and 2,342 adults consuming dietary supplemen*ts seasonally, conducted by The Council for Responsible Nutrition (CRN), a US-based trade association representing more than 200 dietary supplemen*t and functional food manufacturers, 75% of Americans use dietary suppleme*ts where majority of supplement users are regular users. Therefore, the increase in demand for nutritional supplements is driving the growth of the mineral feed market.
Competitive Landscape:
Major companies operating in the mineral feed market report are Nutreco NV, Novus International Inc., Kemin Industries, Cargill Incorporated, Koninklijke DSM NV, Brilliant Bio Pharma Pvt. Ltd., Purina Mills LLC, Josera Petfood GmbH and Co. KG, Kalmbach Feeds Inc., Ranch-Way Inc., BASF SE, Novozymes A/S, Mercer Milling Company, Pancosma SA, Archer-Daniels-Midland Company, Adisseo France SAS, Alltech Inc., Animine, Bio Minerals NV, Biochem Zusatzstoffe Handels, Bioiberica SAU, Biomin Holding GmbH, Brilliant Bio Pharma Private Limited, CJ CheilJedang Corp., Danisco Animal Nutrition, Davidsons Animal Feeds, De Heus Vietnam LLC, Evonik Industries AG, Global Animal Products Inc., JH Biotech Inc., Kay Dee Feed Company, Lallemand Animal Nutrition Inc. .
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Top Trend - Product Innovations Transforming The Mineral Feed Market
Product innovation is a key trend gaining popularity in the mineral feed market. 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.
The Table Of Content For The Market Report 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
…..
27. Mineral Feed Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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