Water-soluble vitamin & mineral feed supplements market growth factors and global forecast

Posted on 2021-01-08 by MarketsandMarkets in Agriculture // 0 Comments

The water-soluble vitamin feed supplements market is projected to grow at a CAGR of 7.24% from 2016 to 2022, to reach a projected value of USD 4.39 Billion by 2022. The mineral feed supplements market is projected to grow at a CAGR of 4.76% from 2016 to reach USD 7.20 Billion by 2022. The water-soluble vitamin & mineral feed supplements market is driven by the increasing growth in the organized livestock sector, dietary requirements, climatic change, increasing consumption of livestock by-products, and awareness about reducing the risk of disease outbreaks.

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The Vitamin B3 segment accounted for the largest share in water-soluble vitamin feed supplements market. The larger demand for vitamin B3 has been attributed to its high importance in the life stages of all livestock species, dietary requirements, and its growing usage. Vitamin B7 and B12 are projected to be the fastest growing segments during the forecast period.

Other minerals such as chlorine, sulphur, selenium, sodium, and iodine, are projected to be fastest growing segment during the forecast period. The mineral feed supplements market is driven by various preventive and control measures for the control of diseases, increased demand of livestock by-products such as milk, eggs, and meat.

Potassium sources, on the basis of mineral type, accounted for the largest share in 2015 owing to its dietary requirement, essential component of enzymes, for increasing feed efficiency, and increasing milk, egg, and meat production.

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Although the water-soluble vitamin & mineral feed supplements market is a fragmented market, it has been turning into a dominant field of a large number of domestic manufacturers and suppliers. The key strategies adopted by the key companies are expansions and investments for increasing their presence in high-demand markets of Latin America and Asia-Pacific. Strategic acquisitions of regional players have helped the company in consolidation of its portfolio of approved products and active ingredients in both, developed and developing markets.

Key players such as Alltech, Inc.(U.S.), Nutreco N.V. (Netherlands), Royal DSM N.V. (Netherlands), DLG Group (Denmark), Invivo NSA (France), BASF SE (Germany), Archer Daniels Midland Company (U.S.), and Kemin Industries, Inc.(U.S.) collectively accounted for the largest share of the water soluble vitamin & mineral feed supplements market.

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