The Mineral Feed market is valued at USD 4.1 Bn in 2022 and is projected to grow at a CAGR of 3.9% during the forecast period, to reach a value of USD 6.2 Bn by 2032. Newly released data from Future Market Insights market analysis shows that global Mineral Feed demand is projected to grow year-on-year (Y-o-Y) growth of 2.1% in 2022.
| Attributes | Details |
|---|---|
| Market Size Value in 2022 | USD 4.1 Billion |
| Market Forecast Value in 2032 | USD 6.2 Billion |
| Global Growth Rate (2022 to 2032) | 3.9% CAGR |
| Forecast Period | 2022 to 2032 |
| Collective Value Share: Top 3 Countries (2021A) | 36.4% |
Animals that are strong and healthy will produce milk at a lower cost and will operate more efficiently. To obtain high-quality products from cattle and poultry, mineral feed must be included in the animal's diet. A sophisticated feed called mineral feed is given to animals like cows, goats, lambs, rabbits, birds, and many others to promote their growth and development and provide high-quality products.
Mineral feeds are used in animal husbandry for a variety of reasons, including muscular contraction, enzyme stimulation, bone growth, and preservation of acid/base pH in cattle bodies. Animals are provided mineral feed by mixing it with foods like grass, pasture, grazing land, and many more.
Mineral feeds support animals' general health and well-being by boosting their immune systems. Because they provide the components required to maintain the animals' level of life and health, mineral feeds are added to animal diets. These nutrients are typically lacking in an animal's system and cannot be fed in sufficient quantities with a regular diet.
The market for mineral feeds has expanded quickly over time and is expected to pick up steam in the next 10 years. The industry will see growth within the allotted time thanks to the rise in per capita income and the bulk meat output in the Asia Pacific. Additionally, the market is expected to grow throughout the projected period due to the efficient performance of mineral feeds.
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Mineral Feed demand grew at 3.4% CAGR between 2017 and 2021. The global market for mineral feeds is anticipated to expand significantly over the next few years due to the increase in demand for high-quality animal products. Mineral feeds to aid in the production of high-quality byproducts from cattle. Additionally, it promotes animal growth so that they can eventually be consumed.
A good source of protein is livestock and its byproducts. They are a source of the necessary amino acids for a man's body to develop. In developing nations, consumption of livestock outputs including eggs, meat, and other items is very high.
Additionally, as consumer knowledge of the health advantages of consuming natural products has grown, so too has the demand for animal products, thus impacting the demand for mineral feeds. And as a result, the global market will grow faster. Another element to be aware of throughout the projection period is the changing lifestyles of consumers, which are predicted to have a significant impact on the market.
The demand for efficient mineral feeds for livestock has increased due to the rising dairy and meat industries around the world, which has led to the expansion of the worldwide mineral feed market. The mineral feed contains essential nutrients and minerals that cattle's bodies cannot produce in sufficient amounts, helping to support livestock health.
Mineral feeds also contain several vitamins and minerals, including calcium, phosphorus, salt, iodine, zinc, vitamin A, and vitamin E. Furthermore, the Asia-Pacific region's substantial meat output is supporting the expansion of the world market for mineral feed. Additionally, the market for mineral feed is being hampered by the rising cost of minerals like magnesium, zinc, copper, etc.
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North America is anticipated to be the leading Country in the global mineral feed market with the United States acting as the driver. In 2021, the United States recorded the region's highest revenue after accounting for about 19.6% of the total revenue generated globally.
The Asia Pacific is projected to be the fastest-growing region for the global mineral feeds market during the forecast period. Emerging economies like China are slated to drive the market forward over the forecast period due to the rise in demand for quality food products and the growing per capita consumption of meat and eggs.
Dairy (Goat, Buffalo, Cow, etc.) is anticipated to account for 32.8% market share in 2022, For dairy cattle to grow, thrive, and produce the most milk, the right proportions of each mineral and vitamin must be fed.
Any mineral or vitamin that is fed in less than the recommended amount might raise the risk of sickness and reproductive issues, diminish milk production, and slow heifer growth. All dairy cattle, including milking cows, dry cows, and heifers, must be given the right amounts of minerals and vitamins and consume them to avoid these expensive issues.
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The following companies are some of the major players in the mineral feed market: Purina Animal Nutrition LLC, Nutreco N.V., VH Group, Kemin Industries, Inc., Novus International, Cargill group, Kent Feeds, Josera Gmbh & Co. Kg, Brilliant Bio Pharma Private Limited (BBPL), Kalmbach Feeds, Inc., Ranch-Way Feeds, Mercer Milling Company, Pancosma S.A., Kay
| Attribute | Details |
|---|---|
| Market Size Value in 2022 | USD 4.1 Billion |
| Market Forecast Value in 2032 | USD 6.0 Billion |
| Global Growth Rate | 3.9% CAGR |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | MT for Volume and USD Billion for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; and MEA |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Argentina, Chile, Peru, Germany, France, Italy, Spain, UK, Netherlands, Belgium, Nordic, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Central Africa, North Africa, and others |
| Key Market Segments Covered | Mineral Type, End-Use Application |
| Key Companies Profiled | Purina Animal Nutrition LLC; Nutreco N.V.; VH Group; Kemin Industries, Inc.; Novus International; Cargill Group; Kent Feeds; Josera Gmbh & Co. Kg; Brilliant Bio Pharma Private Limited (BBPL); Kalmbach Feeds, Inc.; Ranch-Way Feeds; Mercer Milling Company; Pancosma S.A.; Kay Dee Feed Company; Mole Valley Farmers; Others |
| Pricing | Available upon Request |
The Mineral Feed market is estimated to reach sales of nearly USD 4.1 Bn by 2022.
Mineral Feed market revenue is expected to increase at a CAGR of around 3.9% during the period 2022-2032.
Mineral Feed sales increased a CAGR of around 3.4% over the past half-decade.
The global Mineral Feed market value is estimated to be around USD 6.0 Bn in 2032.
The top countries driving the Mineral Feed demand are the US, India, China, and UK.
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Mineral Feed Market
