The mineral feed global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Mineral Feed Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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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Scope Of Mineral Feed Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Mineral Feed Market Overview
Market Drivers –
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 Supplements, a 2022 online survey among 3,133 U.S. adults age 18+, and 2,342 adults consuming dietary supplements seasonally, conducted by The Council for Responsible Nutrition (CRN), a US-based trade association representing more than 200 dietary supplement and functional food manufacturers, 75% of Americans use dietary 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.
Market Trends –
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 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
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Regional Insights –
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 regions covered in the mineral feed market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
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. .
Table of Contents
1. Executive Summary
2. Mineral Feed Market Report Structure
3. Mineral Feed Market Trends And Strategies
4. Mineral Feed Market – Macro Economic Scenario
5. Mineral Feed Market Size And Growth
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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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