(I-BusinessNews.Com, April 02, 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.
“Vitamin B3 accounted for the largest share in the water-soluble vitamin feed supplements market in 2015”
The Vitamin B3 segment accounted for the largest share in the water-soluble vitamin feed supplements market. The upsurge in demand for vitamin B3 is attributed to its high importance in the life stages of all livestock species, dietary requirements, its increasing usage in the organized livestock sector, and awareness about reducing the risk of disease outbreaks.
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“Potassium sources accounted for the largest share in the mineral feed supplements market in 2015”
Potassium sources, on the basis of mineral type, accounted for the largest market share in 2015 owing to its dietary requirements and essential component of enzymes. The key driving factors for the mineral feed supplements market are increasing population of livestock; increase in consumption of livestock by-products such as meat, milk, and egg; and dietary requirements.
“Rest of the World is projected to be fastest-growing water soluble vitamin & mineral feed supplements market”
Rest of the World, mainly the Latin American region, is projected to be the fastest-growing regional market between 2016 and 2022. The strong emphasis on the organized farming practices in the poultry, swine, and aquaculture industries, increasing economic activity, and government regulations have been the driving factors for the growth of the market in this region.
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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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