New York, June 26, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Mineral Feed Global Market Report 2023" - https://www.reportlinker.com/p06466428/?utm_source=GNW
, BASF SE, Novozymes, Mercer Milling Company, Pancosma, and Archer Daniels Midland.
The global mineral feed market is expected to grow from $4.46 billion in 2022 to $4.73 billion in 2023 at a compound annual growth rate (CAGR) of 6.09%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The mineral feed market is expected to reach $5.77 billion in 2027 at a CAGR of 5.09%.
The mineral feed market consists of sales of sodium, iodine, and selenium.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Mineral feed is a substance or combination of substances designed to provide primarily inorganic nutrition or mineral elements to animals that may be lacking in their regular diet. Mineral feed is usually added to an animal’s diet in small amounts to supplement their daily nutrient intake.
Asia-Pacific was the largest region in the mineral feed market in 2022.Middle East and Africa is expected to be the fastest-growing region in the forecast period.
The regions covered in mineral feed report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the mineral feed market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The main types of macro minerals in mineral feed are calcium, phosphorous, magnesium, potassium, and others.Calcium is a mineral that is essential for various biological processes such as muscle contraction, nerve function, blood clotting, and bone formation.
Calcium is an essential mineral for animals, and it is commonly included in animal feed to ensure adequate nutrition.Calcium is especially important for animals that are growing for maintaining strong bones.
The main types of micro minerals in mineral feed are iron, copper, zinc, and others, that are used by ruminant, poultry, swine, aquaculture, and others.
The increase in demand for nutritional supplements is expected to propel the growth of the mineral feed market going forward.Mineral feeds are an important source of essential minerals and trace elements that are required for the proper growth, development, and health of livestock animals.
With the increasing demand for animal products, there is a corresponding need to improve the productivity and efficiency of livestock farming.This can be achieved using mineral feeds that are specifically formulated to provide the necessary minerals and nutrients that may be lacking in an animal’s diet.
For instance, according to the Consumer Survey on Dietary Supplements, a 2022 online survey among 3,133 U.S. adults age 18+, and 2,342 adults consuming dietary supplements seasonally, conducted by The Council for Responsible Nutrition (CRN), a US-based trade association representing more than 200 dietary supplement and functional food manufacturers, 75% of Americans use dietary supplements where majority of supplement users are regular users. Therefore, the increase in demand for nutritional supplements is driving the growth of the mineral feed market.
Product innovation is a key trend gaining popularity in the mineral feed market.Major companies operating in the mineral feed industry are focused on developing innovative solutions to strengthen their position in the market.
For instance, in March 2021, Ralco, a US-based livestock feed and animal health company, launched Summit Mineral.It is an expansion of their beef product line.
With Ralco’s unique ruminant technology, this whole range of mineral supplements is designed to assist cattle perform at their highest level while also maximising mineral nutrient levels, ratios, and bioavailability throughout every season and challenge.
In April 2022, Aceto Corporation, a US-based marketing and distribution pharmaceutical company, acquired Biotron Laboratories and Talus Mineral Company for an undisclosed amount.Through this acquisition, Aceto strengthens its position in the life sciences industry while growing its current nutraceuticals business.
It is recognised for its special method of generating mineral chelates, often used in nutritional supplements.Biotron Laboratories is a US-based manufacturer of premium specialised minerals, trace elements, and other nutritional supplements.
Talus Mineral Company is a US-based company that manufactures mineral ingredients for supplement use.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The mineral feed market research report is one of a series of new reports that provides mineral feed market statistics, including mineral feed industry global market size, regional shares, competitors with a mineral feed market share, detailed mineral feed market segments, market trends and opportunities, and any further data you may need to thrive in the mineral feed industry. This mineral feed market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06466428/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
