Westford, USA, Feb. 10, 2023 (GLOBE NEWSWIRE) -- The Asia Pacific region continues its leading streak in the global feed minerals market due to the widespread adoption of advanced techniques for boosting production and ensuring a consistent meat supply for the livestock industry. Thus, in turn, it drives growth in the overall market. Furthermore, the demand for premium quality meat from the meat processing industry is another key factor driving the market growth. In addition, consumers are becoming increasingly aware of the dangers of consuming inorganic trace minerals that contain heavy metal contaminants. As a result, the global market is expected to grow as demand for safer and more nutritious options grows.
According to SkyQuest, the global feed market is poised to cross the USD 965.02 billion mark by 2028, thanks to a stable growth rate of 5.0%. The primary drivers behind this growth are increasing animal production and the rise in meat consumption worldwide. This trend is predicted to impact the feed minerals market significantly as well. This is because feed minerals play a crucial role in ensuring livestock health, growth, and well-being.
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Browse in-depth TOC on "Feed Minerals Market"
- Pages - 253
- Tables - 64
- Figures - 74
To ensure optimal health and growth, the animals must receive a balanced diet with the necessary vitamins, minerals, and other essential nutrients. One of the key components of this diet is minerals, which play a vital role in the development and maintenance of healthy bones, muscles, and other body systems. Therefore, the feed minerals are essential for livestock's optimal health, growth, and well-being.
Prominent Players in Feed Minerals Market
- Cargill Inc. (US)
- Kemin Industries (US)
- BASF SE (Germany)
- Nutreco NV (Netherlands)
- DSM NV (Netherlands)
- Biochem Lohne (Germany)
- Bio Multimin Inc. (US)
- Intas Pharmaceuticals (India)
- Davidsons Animal Feeds (UK)
- Mercer Milling Co. Inc. (US)
- Alembic Pharmaceuticals Ltd (India)
- Pancosma SA (Switzerland)
- Novus International Inc. (US)
- QualiTech Corp. (US)
- Phibro Animal Health Corporation (US)
- Tanke Biosciences Corp. (China)
- Ridley Inc. (US)
- Zinpro Corp. (US)
- Vamso Biotec Pvt. Ltd (India)
Micromineral Segment to Lead the Product Category Thanks to Its Increasing Use in the Animal Diets
In 2022, the macromineral segment dominated the feed minerals market and is also anticipated to experience rapid growth from 2023 to 2028. This segment comprises essential minerals such as sodium, sulfur, magnesium, and chlorine, which are required in large quantities in the diet of animals. Deficiencies in microminerals can lead to various health problems, such as anemia and increased susceptibility to infections. As a result, the demand for microminerals in the animal feed industry is projected to grow further in the coming years.
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Asia Pacific region dominated the global feed minerals market in 2021, securing the largest revenue share. This impressive growth potential can be attributed to the growing demand for meat and animal products, driven by the rising population's need for protein. As a result, the animal feed additives market is expanding at an unprecedented pace. As the population continues to grow and the demand for protein-rich food products rises, the market for feed minerals in Asia is poised for sustained growth. With a strong production base and a large feed production capacity, the region is well-equipped to meet the growing demand for animal products.
Companies Emphasizing the Diversified Product Offerings to Increase their Customer Base
The global demand for feed is on the rise, and companies in the feed minerals market are responding with innovative new products to meet this growing demand. One example is the partnership between Micronutrients USA and Kemin Industries, who have worked together to create IntelliBond® minerals. This product features six essential trace minerals specifically formulated to improve the performance of dairy and beef cattle. Whether through new products like IntelliBond® minerals or other means, companies that can stay ahead of the curve and meet the changing needs of their customers are poised for success in the market.
To stand out in this crowded market, leading players have focused on quality through extensive investment in product research and development. These investments have been directed towards expanding their product line and innovating new products to meet the changing needs of their customers. Keeping up with these changes can become challenging, but with the correct information, you can stay ahead of the curve. That's where SkyQuest's research report comes in. This comprehensive source of information provides a wealth of key insights into the global feed minerals market, covering everything from market trends and key players to product innovations and investment strategies.
Key Developments in Feed Minerals Market
- ICL, a world leader in the specialty minerals industry, has made a significant investment in sustainable food innovation with the announcement of its AgriFood innovation and investment platform, ICL Planet Startup Hub. The platform has invested €2.75 million in Arkeon, GmbH, a company dedicated to creating a more sustainable food future. As the world's population grows, the need for sustainable and responsible food production has never been greater.
- Nutreco NV, a leading provider of animal nutrition and aquaculture solutions, has announced a game-changing acquisition that will revolutionize the industry. The company has acquired a majority of stake in Eruvaka, a provider of smart technology solutions for shrimp farmers. This strategic move will enable Nutreco's aquaculture business line Skretting, to offer in-house on-farm software and equipment to shrimp farmers worldwide. By integrating Eruvaka's technology into their offering, Skretting will provide farmers with a complete solution to enhance their production and lower operational risks.
- Kemin Industries, a leading provider of innovative animal nutrition solutions, has revolutionized the livestock industry with the introduction of ENTEROSURE™. This cutting-edge probiotic solution is designed to promote optimal gut health in poultry and cattle by preventing the growth of harmful germs. By enhancing intestinal resilience and handling gut health issues, the probiotic solution helps animals to maintain optimal digestive function and prevent digestive disorders. This, in turn, leads to improved animal performance and increased productivity.
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Key Questions Answered in Key Developments in Feed Minerals Market Report
- What is the estimated growth rate of the global market, and what is the projected market size?
- What factors are driving the growth of the global market, and what are the emerging trends?
- Which market segments are expected to grow most in the next few years?
- Are any specific market regions expected to experience exceptional growth in the coming years?
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