Dublin, Feb. 07, 2024 (GLOBE NEWSWIRE) -- The "Mineral Feed Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
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 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 historical period's growth can be attributed to several factors, including the growth in the livestock population, increasing awareness of animal nutrition, the intensification of livestock farming practices, government initiatives promoting livestock health, and a heightened focus on animal welfare.
The anticipated growth in the forecast period can be attributed to a focus on sustainable agriculture, the rise in meat consumption, technological innovations in feed additives, the adoption of precision livestock farming, and regulatory emphasis on animal nutrition and climate change adaptation. Major trends in the forecast period include a growing emphasis on animal nutrition and health, increased adoption of specialty minerals, a focus on regulatory compliance and quality assurance, technological advancements in feed manufacturing, and an emphasis on sustainable and ethical sourcing.
The anticipated rise in the demand for nutritional supplements is set to drive the growth of the mineral feed market. Mineral feeds, essential for the proper growth, development, and health of livestock animals, provide necessary minerals and trace elements. As the demand for animal products increases, optimizing livestock farming efficiency becomes crucial, achievable through specifically formulated mineral feeds addressing nutritional gaps.
The increasing demand for animal-based food products is poised to propel the growth of the mineral feed market. This demand leads to heightened livestock production, emphasizing the need for optimal nutrition to enhance animal health and overall performance. Mineral feeds play a vital role in meeting specific nutritional requirements, ensuring the quality of animal-derived products, and aligning with animal welfare standards.
Product innovation is a prominent trend gaining traction. Key industry players are focusing on developing innovative solutions to fortify their market positions. For instance, Ralco, a US-based livestock feed and animal health company, introduced Summit Mineral in March 2021. This expanded range of mineral supplements, part of their beef product line, leverages Ralco's unique ruminant technology to support cattle performance across seasons and challenges, optimizing mineral nutrient levels, ratios, and bioavailability.
Major companies in the mineral feed market are also exploring new alternatives to antibiotics for livestock to enhance their competitiveness. Antibiotic alternatives for poultry, crucial for treating or preventing bacterial infections, have become essential in response to the removal of in-feed antibiotics. Amlan International, a US-based animal feed company, launched Phylox Feed and NeutraPath in April 2022 to address challenges associated with antibiotic-free poultry and livestock production. Phylox Feed acts as a natural alternative to anticoccidial drugs, providing a blend of bioactive phytochemicals to combat coccidiosis, while NeutraPath serves as a natural pathogen control product, reducing bacterial load and enhancing overall performance. These innovations cater to the growing demand for antibiotic-free animal production.
Asia-Pacific was the largest region in the mineral feed market in 2023. Middle East and Africa is expected to be the fastest-growing region in the mineral feed market report during the forecast period. The countries covered in the mineral feed market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The main types of macro minerals in mineral feed include calcium, phosphorus, magnesium, potassium, and others. Calcium, for instance, is a crucial mineral essential for various biological processes such as muscle contraction, nerve function, blood clotting, and bone formation. It is commonly included in animal feed to ensure adequate nutrition, particularly for animals in the growth phase, as it plays a vital role in maintaining strong bones. Micro minerals in mineral feed encompass iron, copper, zinc, and others. These micro minerals find application in the diets of various animals, including ruminants, poultry, swine, aquaculture, and others, contributing to their overall nutritional needs.
Key Topics Covered:
1. Executive Summary
2. Mineral Feed Market Characteristics
3. Mineral Feed Market Trends and Strategies
4. Mineral Feed Market - Macro Economic Scenario
4.1. Impact of High Inflation on the Market
4.2. Ukraine-Russia War Impact on the Market
4.3. COVID-19 Impact on the Market
5. Global Mineral Feed Market Size and Growth
5.1. Global Mineral Feed Market Drivers and Restraints
5.1.1. Drivers of the Market
5.1.2. Restraints of the Market
5.2. Global Mineral Feed Historic Market Size and Growth, 2018-2023, Value ($ Billion)
5.3. Global Mineral Feed Forecast Market Size and Growth, 2023-2028, 2033F, Value ($ Billion)
6. Mineral Feed Market Segmentation
6.1. Global Mineral Feed Market, Segmentation by Macro Minerals Types, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Calcium
- Phosphorous
- Magnesium
- Potassium
- Other Macro Minerals
6.2. Global Mineral Feed Market, Segmentation by Micro Minerals Types, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Iron
- Copper
- Zinc
- Other Micro Minerals
6.3. Global Mineral Feed Market, Segmentation by Animal Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Ruminant
- Poultry
- Swine
- Aquaculture
- Other Animal Types
7. Mineral Feed Market Regional and Country Analysis
7.1. Global Mineral Feed Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Mineral Feed Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
A selection of companies mentioned in this report includes
- 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.
For more information about this report visit https://www.researchandmarkets.com/r/c617hx
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