USD 2.4 billion
Report ID: SQSG15E2027 | Region: Global | Published Date: November, 2022 | Pages: 237 | Tables: 67 | Figures: 75
Feed Vitamins Market size was valued at USD 2.4 billion in 2021 and is poised to grow from USD 2.5 billion in 2022 to USD 3.4 billion by 2030, growing at a CAGR of 4.5% in the forecast period (2023-2030).
As deficiency of vitamins can lead to severe health problems in animals, demand for feed vitamins are rising in demand. These feed vitamins aid in growth and well being of the animals. It also provides protection against a variety of illnesses. Product enhancement by adding high nutrition will drive the market’s growth.
Maintenance of farm animals during changing seasons is very important. These animals are susceptible to a variety of diseases therefore, providing them with added nutrition everyday is pivotal. Feed vitamins also improve absorption, ingestion, and assimilation of daily meals.
Increasing industrialization of livestock will drive the market for feed vitamins. Increasing deficiencies in animals and awareness about well being will further fuel market growth.
US Feed Vitamins Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 2.4 billion
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The global feed vitamins Market is segmented based on type, application, and region. Based on type, the market is segmented into Vitamin A, Vitamin B, Vitamin C, Vitamin E, and Other Types. Based on application, the Feed Vitamins Market is segmented into ruminants, poultry, swine, aquaculture, and other animal types. Based on region, the global Feed Vitamins market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Feed Vitamins Market Analysis by Type
Vitamin A, D3, and E were the most in-demand vitamins segment for the global feed vitamins market in the year 2021. Due to rising demand, animal production must be increased which requires more vitamins. Livestock breeders use vitamin E to feed to boost animals' antioxidant capacity and prevent economic losses. Vitamin E is a neuroprotective antioxidant. Vitamins help pigs grow healthier and more quickly. Apart from gaining weight vitamins and minerals are essential for swine reproduction and aid in the digestion and use of the feed's nutrients, both of which are necessary for the pigs' healthy growth. Vitamin E supplementation in a pig's diet can enhance the flavor of the meat which is a major factor driving the demand for feed vitamins in recent times.
Feed Vitamins Market Analysis by Application
The poultry segment accounted for the largest market share of the feed vitamins market in the year 2021 and is expected to dominate throughout the analysis period. As chickens without enough vitamin E develop encephalomalacia, young birds with exudative diathesis, and humans with a deficiency in the vitamin develop muscular dystrophy. The deterioration of muscle fibers caused by muscular dystrophy threatens the viability of important meat-producing organs like the breast and the legs. In addition, the physiological make-up, age, health, nutritional condition, and function of livestock, such as meat production or egg-laying in poultry birds, have a significant impact on vitamin demand. Dietary vitamin A, D3, and E levels for breeders should be higher than those for broilers. Increased growth, feed efficiency, and oxidative stability in meat have been recorded in broilers that received vitamin supplementation at the optimal dosage which will propel the feed vitamin market growth during the analysis period.
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In 2021, the Asia Pacific dominates the global feed vitamin market and the feed vitamin market is expected to be driven by Brazil, the US, India, and China during the analysis period. On the other hand, emerging economies are expected to rapidly embrace poultry supplements throughout the analysis period, which will drive growth in the feed vitamins market. As the majority of the feed for livestock comes from agricultural items such as maize, sorghum, soybean meal, groundnut meal, and rice bran. This dependence on agricultural products is significant. However, as a result of increased requirements for the animal health of livestock and the following widespread adoption of compound feed, several vitamins, such as vitamins A, D, E, and K as well as vitamin B, are increasingly being incorporated into the diets of livestock throughout the region.
North America is also expected to show exponential growth during the forecast period as this region has technologically advanced products along with access to novel technologies. High rate of livestock farms to cater the food industry is bolstering the demand for feed vitamins in this region.
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Feed Vitamins Market Driver
Increasing Industrialization of Cattle Business to Bolster Market Growth
Feed Vitamins Market Restraint
High Cost Associated with Raw Materials to Hinder Market Growth
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The Feed Vitamins market is relatively fragmented, with a high level of competition. Few large players, like Adisseo France S.A.S, Archer Daniels Midland Co., 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 Vitamins Market Top Player’s Company Profiles
Feed Vitamins Market Recent Developments
Utilizing Various Vitamins to Cater Different Deficiencies will Drive Market Growth
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, the poultry segment accounted for the largest market share of the feed vitamins market in the year 2021 and is expected to dominate throughout the analysis period. Vitamin A, D3, and E were the most in-demand vitamins segment. Livestock breeders use vitamin E to feed to boost animals' antioxidant capacity and prevent economic losses. Vendors in the market have in-house R&D divisions to innovate novel products. They are also collaborating with other players to sustain in the global market.
|Market size value in 2021||USD 2.4 billion|
|Market size value in 2030||USD 2.5 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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Parent Market Analysis
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For the Global Feed Vitamins 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 Vitamins 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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