Overview and Scope
The water-soluble vitamins and mineral feed supplements refer to the vitamin and supplements that are used for supplement grazing by providing necessary vitamins and minerals and trace minerals. The water-soluble vitamin refers to the vitamins which dissolve readily in water and can be readily absorbed by the tissues. The mineral feed supplements are mineral blends that can be provided to grazing animals during periods of low mineral and trace mineral availability in the dry or rainy seasons.
Sizing and Forecast
The water-soluble vitamin and mineral feed supplements market size has grown rapidly in recent years. It will grow from $5.3 billion in 2023 to $6.05 billion in 2024 at a compound annual growth rate (CAGR) of 14.1%. The growth in the historic period can be attributed to focus on animal nutrition and welfare, rise in intensive farming practices, globalization of animal husbandry practices, awareness of nutritional deficiencies, efforts to improve feed conversion ratios.
The water-soluble vitamin and mineral feed supplements market size is expected to see rapid growth in the next few years. It will grow to $9.81 billion in 2028 at a compound annual growth rate (CAGR) of 12.9%. The growth in the forecast period can be attributed to demand for sustainable animal farming, global efforts for animal disease prevention, enhanced formulation for monogastric animals, focus on animal well-being and stress reduction, development of fortified functional feeds. Major trends in the forecast period include innovation in delivery methods, immune-boosting ingredients, nanotechnology in feed supplements, technology-driven feed management systems, formulation for monogastric animals.
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Segmentation & Regional Insights
The water-soluble vitamin and mineral feed supplements market covered in this report is segmented –
1) By Vitamin Type: Vitamin B1, Vitamin B2, Vitamin B3, Vitamin B5, Vitamin B6, Vitamin B9, Vitamin C, Other Vitamin Types
2) By Mineral Type: Potassium, Calcium, Phosphorus, Magnesium, Sodium, Iron, Zinc, Copper, Manganese, Other Mineral Types
3) By Application: Poultry, Swine, Ruminants, Aquaculture, Other Applications
Asia-Pacific was the largest region in the water-soluble vitamin and mineral feed supplements market in 2023. Middle East is expected to be the fastest-growing region in the global water-soluble vitamins and minerals in feed supplements market during the forecast period. The regions covered in the water-soluble vitamin and mineral feed supplements market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing livestock population is expected to propel the growth of the water-soluble vitamin and mineral feed supplements market going forward. Livestock refers to animals that are kept or raised for various purposes, such as use, pleasure, or profit, particularly those that are raised on farms. An agricultural producer breeds and raises livestock, which encompasses cattle, hogs, horses, poultry, sheep, and small animals. Livestock can be provided with water-soluble vitamin and mineral feed for their nutritional requirements including promoting healthy bone development and maintaining reproductive efficiency. For instance, in March 2023, according to Eurostat, the Luxembourg-based statistical office, between November and December 2022, Italy’s pig population rose by 330,000 heads, which represents a 4% increase compared to the same period in 2021. Similarly, Sweden’s pig population increased by 50,000 heads, or 3% compared to the same period in 2021. Overall, in May 2022, the European Union had a significant livestock population, with an estimated 142 million pigs, 76 million cattle, 60 million sheep, and 11 million goats. Therefore, the increasing livestock population is driving the growth of the water-soluble vitamin and mineral feed supplements market going forward.
Key Industry Players
Major companies operating in the water-soluble vitamin and mineral feed supplements market report are Alltech Inc., Nutreco NV, Koninklijke DSM NV, Neovia Group, InVivo NSA, BASF SE, Archer Daniels Midland Company, Kemin Industries Inc., Bluestar Adisseo Co., Lonza Group AG, Bayer AG, Blackmores Limited, China National Chemical Corporation, Sanofi S.A., Bee Health Limited, DLG Group, Cargill Incorporated, Novus International Inc., Bioiberica S.A.U., Pancosma S.A., Zinpro Corporation, QualiTech Corporation, Nutriad International NV, VDS Pharma Animal Health B.V., Lallemand Animal Nutrition, Provimi Holding B.V., Biomin Holding GmbH, Trouw Nutrition International B.V., WelBloom Biotech Co.
The water-soluble vitamin and mineral feed supplements market report table of contents includes:
1. Executive Summary
2. Water-Soluble Vitamin And Mineral Feed Supplements Market Characteristics
3. Water-Soluble Vitamin And Mineral Feed Supplements Market Trends And Strategies
4. Water-Soluble Vitamin And Mineral Feed Supplements Market – Macro Economic Scenario
5. Global Water-Soluble Vitamin And Mineral Feed Supplements Market Size and Growth
…..
32. Global Water-Soluble Vitamin And Mineral Feed Supplements Market Competitive Benchmarking
33. Global Water-Soluble Vitamin And Mineral Feed Supplements Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Water-Soluble Vitamin And Mineral Feed Supplements Market
35. Water-Soluble Vitamin And Mineral Feed Supplements Market Future Outlook and Potential Analysis
36. Appendix
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