Global Mineral Feed Market: Industry Analysis and Forecast (2020-2026)
Global Mineral Feed Market size was valued at US$ XX Mn in 2019 and the total revenue is expected to grow at XX% through 2020 to 2026, reaching nearly US$ XX Mn.
The global Mineral Feed market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Mineral Feed market report also provides trends by market segments, technology, and investment with a competitive landscape.
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Global Mineral Feed Market Overview
A mineral feed is an advanced feed that is given to animals like cows, goats, sheep, rabbits, birds, and many more to help them develop and grow in order to generate quality output. Mineral feeds possess significant advantages in animal farming, such as muscular contractions, antioxidant stimulation, bone health, as well as the maintenance of acid/base pH in the body system.
Mineral feed is provided to animals by combining it with their meals, which contains grass, pasture, eating grass range, as well as many other things. As per the World Bank, modern industrial meat production has increased 6 times higher than normal meat manufacturing processes. The mineral feed market was valued at US$ 3105.1 Mn. in 2020
Mineral feeds help to boost the immune system and retain animals' overall health and well-being. Mineral feeds are added to food supplements of animals because they possess components that help animals maintain their living standard and health. Such elements are usually inadequate in the animal structure and they can be obtained in sufficient ratios through solid eating, feeding. The international mineral feeds market has grown rapidly over the years and is projected to continue at a fast rate.
Global Mineral Feed Market Dynamics
The increasing per capita income, blended with high volume meat consumption, will stimulate the growth of the industry within the time period specified. Moreover, the market is likely to be driven forward by the good execution of mineral feeds over the forecast period. With the increasing demand for high-quality animal products, the global mineral feeds market is anticipated to grow significantly in the future.
As people are becoming more concerned about the health importance of consuming raw foods, there is indeed a greater demand for animal products, which directly impacts the business for mineral feeds. As a consequence, the industry will grow globally. One other aspect to keep a watch on during the forecast timeframe is the shifting way of living of buyers.
However, processed food which includes chemical can be dangerous for animals as well as humans. Keeping this in mind various health organizations and government guidelines and policies will hamper the growth of the market globally
Global Mineral Feed Market Segment Analysis
By End-User Poultry, the segment is the most dominant segment due to the increase in demand for animal protein feed and other technological developments It has got a significant increase as a result of investment funds. The updated breeding, spawning, nurturing, and processing methods have revolutionized the poultry industry. The reasons behind the growth of the poultry segment are the increase in the demand for poultry meat, an increase in the level of income and availability of poultry meat
The aquaculture segment has also shown growth in recent years due to the increased use of minerals for aquatic animals like fish, octopus and seals. Individuals or firms who are engaged in harvesting and breeding aquatic animals consume more mineral to feed t to the animals it helps them in growing. Hotels and restaurant who offer seafood has increased the demand of mineral feed for the segment and is like to boost the overall market
By Product Type, the micro-mineral segment holds a large part of the market share and is expected to grow more in the forecast period. Because once broken down by traces, micro minerals contribute to a significant chunk of the global feed minerals market. Chromium, cobalt, copper, fluorine, iodine, iron, manganese, molybdenum, selenium, and zinc are exemplars of are examples of micro minerals.
For healthful domesticated animals and pets, pasture micro mineral approaches are needed on a routine basis. Iron has been regarded as a trace mineral, although that amount needed is substantially higher than other micro minerals. The segment of macro minerals is also growing and is anticipated to grow at a high rate during the forecast period. Calcium, chlorine, magnesium, phosphorus, potassium, sodium, and sulfur are some examples of macro minerals.
Global Mineral Feed Market Regional Insights:
The Asian Pacific region is the most dominant region globally however the outbreak of the African Swine Flu, especially in Southeast Asia, caused a small set - back in livestock feed in Asian- pacific region in 2019. But still, the region continues to be the dominant geographic region in the international feed minerals market. The mineral feed market in Asia has been majorly affected by government interventions.
Amongst these fastest-growing segments of the mineral feed additives industry is the region's attempts to revitalize and discover efficiency gains practices, and also the growing demands for processed meat to meet the protein needs of the growing population.
Asian-Pacific region’s country India is agricultural-based and contributes about 18% to the nation’s GDP. With above 50% of the population of the country working in the agriculture sector. And for which farmers need animals like cow and ox in good health to fulfil the demand. Which in turn has led to the increase in demand for mineral food. The growing demand for milk by the growing population of India has also driven the growth of the mineral feed market. With an increase in animal husbandry and animal livestock demand, the Asia-Pacific region will likely remain the most dominant region globally.
Europe and North America also are observed to have a significant impact on future growth. Countries like Germany and Spain are most likely to be the key markets for organic essential nutrients in animal feed in this region. Countries such as the USA and Canada has witnessed an increase in the cattle breeding and poultry sector over the years. Cargill Group purchased Southern States Cooperative inc, an animal feed business in 2017. Both of these are based in Richmond, Virginia. This brilliant decision will enable the firm to serve customers much better in the eastern United States.
South America, Middle East & Africa are anticipated to grow at a good rate due to the increase in the developing poultry and dairy sector, North America is expected to grow at a fast rate due to an increase in the food sector and consumption of egg as well as dairy products. It’s been observed that the consumption of egg and their related products has increased in the last decade. Propelling the demand for minerals in the market for chickens.
The objective of the report is to present a comprehensive analysis of the Global Mineral Feed market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Global Mineral Feed Market dynamics, structure by analyzing the market segments and project the Global Mineral Feed Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Mineral Feed Market make the report investor’s guide.
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Global Mineral Feed Market Scope: Inquire before buying
Global Mineral Feed Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Global Mineral Feed Market Key Players
• Urina Animal Nutrition LLC
• Nutreco N.V.
• VH Group
• Kemin Industries, Inc.
• Novus International
• Cargill group
• Kent Feeds
• Josera Gmbh & Co. Kg, Brilliant Bio Pharma Private Limited (BBPL)
• Kalmbach Feeds, Inc.
• Ranch-Way Feeds
• Mercer Milling Company
• Pancosma S.A.
• Kay Dee Feed Company
• Mole Valley Farmers
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