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2024 Global Mineral Feed Market Size, Share, Trends And Growth Analysis Report | Nutreco NV, Novus International Inc., Kemin Industries, Cargill Incorporated, Koninklijke DSM NV
Mineral Feed Global Market Report 2024
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.
Market Overview -
Mineral feed is a substance or combination of substances designed to provide primarily inorganic nutrition or mineral elements to animals that may be lacking in their regular diet. Mineral feed is usually added to an animal's diet in small amounts to supplement their daily nutrient intake.
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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 Supplements, a 2022 online survey among 3,133 U.S. adults age 18+, and 2,342 adults consuming diet supplements seasonally, conducted by The Council for Responsible Nutrition (CRN), a US-based trade association representing more than 200 diet supplement and functional food manufacturers, 75% of Americans use diet supplements 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. .
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.
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Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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