(I-BusinessNews.Com, February 28, 2020 ) The report “Water-Soluble Vitamin & Mineral Feed Supplements Market by Vitamin Type (Vit B Complex [B1, B2, B3, B5, B6, B9], Vit C), Mineral Type (P, K, Ca, Mg, Na, Fe, Zn, Cu, Mn), Livestock (Poultry, Swine, Ruminants, Aquaculture) – Global Forecast to 2022″, The water-soluble vitamin feed supplements market is projected to grow at a CAGR of 7.24% from 2016, 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 market has been gaining importance due to the increasing population of livestock, growth in consumption of livestock by-products, economic activity, organized livestock farming, and consumer awareness.
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.
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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.
The Asia-Pacific region accounted for the largest market share in 2015 in the water-soluble vitamin feed supplements market. RoW is projected to grow at the highest CAGR for the next six years. The strong emphasis on the organized farming practices in the poultry, swine, and aquaculture industries have been the driving factors in these regions. The main factor driving this market is a vital role vitamin play to provide immunity against diseases, and for metabolism and coenzyme production of livestock.
Factors such as government legislation on permissible limits have been limiting the possible options of feed sources to achieve optimum livestock weight and health and have been restraining the growth of the market. Regulatory control on the use of certain raw materials in animal feed in various countries has limited the range of feed supplements available for the formulators to develop. The sanction of government authorities is required for the manufacturing of feed supplements.
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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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