Mineral feed is generally a mixed feed that comprises of minerals for the nutrition of farm animals enriched with vitamins, flavoring agents, facilitating agents, as well as medicated ingredients. It is basically a complementary feed consist of around 40% crude ash, thus mineral feeds involves liquid mineral feed which include vitamin and mineral elements. Minerals are basically provided to livestock to maintain the well-being. It serves various functions which includes enzyme stimulation, contraction of muscles, proper development of bones, as well as controlling acid base balances among others. Minerals are commonly a supplement incorporated in animal feed for optimum growth and development of farm animals. Apart from this, it maintains the overall health and well-being and prevents livestock from any disease. Necessary elements that are not sufficiently formed in the body of animals are required to be added in the feeds from outside in order to maintain the standard of living and health of livestock. The global mineral feed market has grown at a rapid pace in the past few years and is anticipated to grow at a significant pace in the next ten years from 2016-2026. The rising bulk production of meat especially from Asian region will be the major factor for the growth of the global mineral feed market over the period 2016-2026.
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Global Mineral Feed Market: Market Segmentation
The global Mineral Feed market is segmented on the basis of types of minerals which include micro and macro minerals. The macro minerals are further bifurcated by phosphorus, calcium, magnesium, potassium and others. On the other hand, micro minerals are further sub-divided by iron, zinc, copper and others. The global mineral feed market is also divided on the basis of type of animals such as poultry, swine, aquaculture, ruminant (sheep, goat, buffalo, deer, camels, and others), and others. In 2015, ruminant segment captured the highest contribution in the overall global mineral feed market. This segment is likely to grow at a significant pace from 2016-2026 especially in Asian region. Besides this, poultry segment is expected to showcase rapid growth during the forecast period.
Global Mineral Feed Market: Growth Drivers
Modernization in combination with stable economic conditions, as well as change in lifestyle have stimulated the demand for protein for well-being of livestock. Besides this, robust production of meat in Asia-Pacific region is also strengthening the growth of the global mineral feed market. The demand of eminent quality of meat from meat processing industry is likely to drive the growth of the global mineral feed market over the next ten years till 2026. Apart from this, escalating health consciousness especially in emerging economies in addition to higher personal disposable income will be the major factors for the overall growth of the global mineral feed market over the period 2016-2026. The segment of macro minerals such as calcium, magnesium and phosphorus holding major chunk of the global animal feed market is anticipated to expand at a significant CAGR in next ten years.
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Global Mineral Feed Market: Regional Outlook
Geographically, the Global Mineral Feed industry can be divided by major regions which include North America, Latin America, Western and Eastern Europe, Asia-Pacific region, Japan, Middle East and Africa. I 2015, Europe and North America marked the major contribution in the global mineral feed market. In Europe, UK, and Germany showcased robust growth in 2015. The emergence of scientific animal rearing system in Asia-Pacific region is expected to intensify the growth of the region and will further impact the global mineral feed market. Apart from this, rising awareness among the farmers in developing countries such as Brazil, India, China, South Africa and Mexico among others is foreseen to drive the global mineral feed market over the next few years from 2016-2026.
Global Mineral Feed Market: Players
Some of the key vendors identified across the value chain in the global Mineral Feed market include VH group, Novus International, Nutreco N.V., Kemin Industries, Cargill group, Royal DSM Holdings, Kent Feeds, and others. It has been noticed that the players mentioned are emphasizing on broadening their distribution channel to cater to various markets all across the globe. The companies are undergoing investments in their production process as well as to cater to robust demand of mineral feed from various countries especially the emerging economies.