USD 3.95 billion
Report ID: SQSG30C2032 | Region: Global | Published Date: April, 2023 | Pages: 165 | Tables: 67 | Figures: 75
Global Feed Major Minerals Market size was valued at USD 3.95 billion in 2021 and is poised to grow from USD 4.1 billion in 2022 to USD 5.79 billion by 2030, growing at a CAGR of 3.9% in the forecast period (2023-2030).
The secretion of enzymes and hormones, both of which are necessary for the body to carry out its many functions, is regulated by minerals, which are important for keeping animals healthy. Examples of macro or major minerals in animal feed that are necessary for production and good health are calcium, phosphorus, magnesium, sodium, potassium, chloride, and sulfur. Mineral deficiencies, which can cause illnesses and other weaknesses in animals were caused due to the growing demand for animal products and the increasing productivity of animals. Avoiding these outcomes is as simple as ensuring that feed contains sufficient mineral supplementation, which is profitable for the farmer and drives demand for minerals during the analysis period.
US Feed Major Minerals Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 3.95 billion
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Feed Major Minerals Market is segmented based on type, application, and region. Based on type, the Feed Major Minerals Market is segmented into calcium, phosphorous, magnesium, potassium, and other minerals. Based on application, the Feed Major Minerals Market is segmented into ruminants, aquaculture, swine, poultry, and other animals. Based on region, the global Feed Major Minerals Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Feed Major Minerals Market Analysis by Type
In 2021, calcium accounted for more than 32% of the global feed major minerals market and was followed by chlorine during the same year. The use of calcium is very evident in the animal feed industry as its important for bone growth and strength while also improving muscle strength and longevity to prevent disease this is the major reason for this dominance in the animal feed industry. Growing demand for animal derivatives globally has increased the demand for additives for attaining better production from them and meeting the increasing demand these all factors are driving the demand for calcium in feed major minerals during the forecast period.
Feed Major Minerals Market Analysis by Application
Based on the application of major minerals, the poultry segment accounted for the largest market share in the year 2021 and is expected to dominate throughout the analysis period. Increasing demand for poultry meat and eggs is the major reason for this dominance. The layer feed industry extensively uses calcium in the layer to maintain the shell quality and health of egg-laying birds which is driving the demand throughout the analysis period.
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In 2021, Asia Pacific dominated the feed major mineral market globally and is expected to do so during the analysis period. The increasing population and growing economies such as India, China, and Japan are driving the demand for animal-sourced protein food in the region. This trend is to grow in the coming time which will drive the demand for feed additives as these provide nutritional benefits and prevent diseases in animals which increase profits for the farmer. These are some of the major factors for increasing the demand for major feed minerals demand during the forecast period.
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Feed Major Minerals Market Driver
Increasing the demand for meat and other animal products.
Feed Major Minerals Market Restraint
The increasing costs of production restrain the market growth.
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The feed major minerals market is relatively fragmented, with a high level of competition. Few large players, like Cargill, Inc., DSM, and BASF SE, now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability.
Feed Major Minerals Market Top Player’s Company Profiles
Feed Major Minerals Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, Animal feed is regulated by minerals, which are important for keeping animals healthy. Examples of macro or major minerals in animal feed that are necessary for production and good health are calcium, phosphorus, magnesium, sodium, potassium, chloride, and sulfur. The Asia Pacific dominated the feed major minerals market globally and is expected to do so during the analysis period. The growing demand for animal derivatives globally has increased the demand for additives. The poultry segment accounted for the largest market share in the year 2021. Increasing demand for poultry meat and eggs is the major reason for this dominance. This trend is to grow in the coming time which will drive the demand for feed additives as these provide nutritional benefits and prevent diseases in animals which increase profits for the farmer.
|Market size value in 2021||USD 3.95 billion|
|Market size value in 2030||USD 4.1 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Feed Major Minerals Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Feed Major Minerals Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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