Water-soluble Vitamins and Mineral in Feed Market to Grow Substantially through 2023 to 2032

May 2023/MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global Water-Soluble Vitamins & Minerals in Feed Market.

Market Highlights

Water-Soluble Vitamins & Minerals in Feed Market Size was valued at USD 17.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.60% during the forecast period (2023 - 2032). Addition of essential feed additives in the form of vitamins and minerals enhances the overall quality of the animals. Mineral and vitamins are nutrients used in animal feed for purposes of improving the quality of feed and to improve the animals’ health and performance such as providing enhanced digestibility, and more. Increasing preference for processed food, growing consumption of poultry and pork as the major protein source are some of the major factors that propel the demand of vitamins and minerals in feed across the globe. Poultry and farm animals suffer from diseases such as avian influenza, swine flu, and nematodes like tapeworm which causes deadly diseases in humans upon consumption or coming in contact. These growing concerns for livestock diseases are expected to influence the livestock owners to adopt healthier diet for animals. Water-Soluble Vitamins & Minerals in Feed add vital nutrients such as vitamin B & C, minerals such as phosphorus, potassium, sodium, and more are essential nutrients that are externally added to the animal feed to make it rich in nutrients.

Based on ingredient type, the Global Water-Soluble Vitamins & Minerals in Feed Market has been segmented into vitamins and minerals. The vitamins segment is sub-segmented into vitamin B1 (thiamin), vitamin B3 (niacin), vitamin B5 (pantothenic acid), vitamin B9 (folic Acid), vitamin C, and others (vitamin B6, B7, B12, and biotin). The minerals segment is further divided into phosphorus, potassium, calcium, sodium, and others. The vitamin B-complex segment is expected to dominate the Global Water-Soluble Vitamins & Minerals in Feed Market during the forecast period as it is helpful in maintaining proper cell functioning and immunity. However, the vitamin-C segment is expected to remain the fastest growing due to the benefits associated with it such as better meat quality and also it provides immunity to diseases and skin diseases.

The market of global Water-Soluble Vitamins & Minerals in Feed has been divided on the basis of livestock into poultry, ruminants, aquaculture, swine, and others. The poultry segment is expected to dominate the Global Water-Soluble Vitamins & Minerals in Feed Market during the assessment period. High consumption trends of poultry meat and eggs in all regions is the major factor driving the market growth. However, the segment of pets is expected to grow with the highest CAGR during the forecast period. The market demand of pet food is continually on the rise which would in turn propel the market for vitamins and minerals going into animal feed. Also, growing disposable income is another reason adding to the demand for pet food. Feed innovations along with advancements in feed processing technology during recent years have further innovative product launches which is expected to drive the market growth during the forecast period. Awareness regarding the essential nutrients for the wellbeing of the livestock animals is increasing and is expected to surge further in the future.

Regional Analysis

The Global Water-Soluble Vitamins & Minerals in Feed Market has been segmented by North America, Europe, Asia-Pacific, and the rest of the world.

North America is expected to dominate due to maximum demand for animal meat and animal products. However, market of Asia Pacific is expected to propel the fastest during the forecast period. Large population size and growing disposable income of the population in the region are expected to fuel the Water-Soluble Vitamins & Minerals in Feed Market in the region during the forecast period. Other factors propelling the regional market growth include wide acceptance of technological advancements and awareness about specialty nutrients.

Segmentation

The Global Water-Soluble Vitamins & Minerals in Feed Market has been segmented based on ingredient type, livestock, and region.

By ingredient type, the Global Water-Soluble Vitamins & Minerals in Feed Market has been segregated into vitamin and minerals. The vitamins segment is sub-segmented into vitamin B1 (thiamin), vitamin B3 (niacin), vitamin B5 (pantothenic acid), vitamin B9 (folic Acid), vitamin C, and others (vitamin B6, B7, B12, and biotin). The minerals segment is further divided into phosphorus, potassium, calcium, sodium, and others.

The Global Water-Soluble Vitamins & Minerals in Feed Market has been classified on the basis of livestock into poultry, ruminants, aquaculture, swine, and others.

Key Players

Some of the key players in the Global Water-Soluble Vitamins & Minerals in Feed Market are Alltech Inc. (US), Nutreco N.V (Netherlands)., Royal DSM N.V. (Netherlands), DLG Group (Denmark), Invivo NSA (France), BASF SE (Germany), Archer Daniels Midland Company (US), Kemin Industries, Inc.(US), Wisium (France), Nutrablend (US).