Mineral Feed Market Analysis 2024 – Estimated Market Size And Key Drivers

The Mineral Feed by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Mineral Feed, 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.

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.

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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

Top Major Players:

• Nutreco NV
• Novus International Inc.
• Kemin Industries
• Cargill Incorporated
• Koninklijke DSM NV

Asia-Pacific was the largest region in the mineral feed market in 2023.

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 report table of contents includes:
1. Executive Summary
2. Mineral Feed Market Characteristics
3. Global Mineral Feed Market Trends And Strategies
4. Mineral Feed Market – Macro Economic Scenario
5. Global Mineral Feed Market Size and Growth
…….
26. Global Mineral Feed Market Competitive Benchmarking
27. Global Mineral Feed Market Competitive Dashboard
28. Key Mergers and Acquisitions In Mineral Feed Market
29. Mineral Feed Market Future Outlook and Potential Analysis
30. Appendix

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