(I-BusinessNews.Com, January 23, 2020 ) The water-soluble vitamin feed supplements market is projected to grow at a CAGR of 7.24% from 2016 to 2022, 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 is driven by factors such as increasing consumption of livestock by products, increasing disease outbreak, and organized livestock farming. To increase the production of meat, milk & egg livestock owners are now using vitamin and mineral feed supplements on a large scale which would drive the market globally.
Water soluble vitamins such as B7 and B12 are estimated to be the fastest growing segment during the forecast period. The major growth driver for the increase in these vitamin uptake are their vital role in metabolism, reproduction, and coenzyme production of livestock.
Other minerals such as chlorine, sulphur, selenium, sodium, and iodine feed supplements segment is projected to be the fastest growing segment during the forecast period. The key driver for the increase in these mineral uptake is their role in growth, increasing egg production, meat & milk production, increasing feed efficiency, and immunity against diseases.
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Poultry is projected to be the fastest-growing segment in the water-soluble vitamin feed supplements market from 2016 to 2022. The demand is projected to grow effectively in the poultry and aquaculture sectors as these vitamins are essential for these species at their early growing stage which would eventually lead to productive results. As swine are monogastric (single stomach) animals, they cannot synthesize B complex vitamins as in the case of ruminants. Therefore, an additional supplementation of vitamins in swine feed is preferred by nutrition consultants.
The water-soluble vitamin feed supplements market is driven by increasing growth in the organized livestock sector and awareness about reducing the risk of disease outbreaks. Aquaculture is projected to be the fastest-growing segment in the mineral feed supplements market from 2016 to 2022. Aquaculture and poultry livestock thus represent an opportunity for the key market players to invest in research & development and introduce new products with active ingredients and new technologies to increase production and immunity against diseases in Asia-Pacific and Latin America, due to the increase in consumption of livestock by-products such as meat, milk, and egg, rise in the middle class population, and disease outbreak in these regions. The key driving factors of the mineral feed supplement market include increasing population of livestock, along with increase in consumption of livestock products such as meat, egg, and milk growth in emerging markets and changing climate.
RoW is projected to be the fastest-growing region for the water soluble vitamin & mineral feed supplements market between 2016 and 2022. The key drivers for this market in these developing regions is due to the increase in demand for livestock products, increasing population of livestock, increase in the standard of living, and government regulations. Key players have been establishing market presence in the poultry and swine sectors due to the organized development of these sectors.
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Key players in these market include BASF SE (Germany), Royal DSM N.V. (Netherlands), DLG Group (Denmark), Nutreco N.V. (Netherlands), Archer Daniels Midland Company (U.S.), Invivo NSA (France), and Bluestar Adisseo Co. (China).
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