New York, July 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Water-Soluble Vitamin And Mineral Feed Supplements Global Market Report 2023" - https://www.reportlinker.com/p06479770/?utm_source=GNW
, Adisseo, Lonza Group AG, Bayer AG, Blackmores Limited, China National Chemical Corporation, Sanofi S.A., and Bee Health Limited.
The global water-soluble vitamins and minerals in feed supplements market is expected to grow from $4.64 billion in 2022 to $5.30 billion in 2023 at a compound annual growth rate (CAGR) of 14.2%. 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 water-soluble vitamins and minerals in feed supplements market is expected to reach $8.70 billion in 2027 at a CAGR of 13.8%.
The water-soluble vitamin and mineral feed supplements market consists of sales of water-soluble vitamins including vitamin B7 and vitamin B12 as well as minerals including selenium, iodine, and chloride.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.
The water-soluble vitamins and mineral feed supplements refers to the vitamin and supplements that are used for supplement grazing by providing necessary vitamins and minerals and trace minerals.The water-soluble vitamin refer to the vitamins which dissolve readily in water and can be readily absorbed by the tissues.
The mineral feed supplements are mineral blends that can be provided to grazing animals during periods of low mineral and trace mineral availability in the dry or rainy seasons.
Asia-Pacific was the largest region in the water-soluble vitamin and mineral feed supplements market in 2022.Middle East is expected to be the fastest-growing region in the forecast period.
The regions covered in water-soluble vitamin and mineral feed supplements report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main vitamin types of water-soluble vitamin and mineral feed supplements include vitamin B1, vitamin B2, vitamin B3, vitamin B5, vitamin B6, vitamin B9, vitamin C and other vitamin types.Vitamin B2 refers to a crucial type of B vitamin that is essential for maintaining good health.
The minerals potassium, calcium, phosphorus, magnesium, sodium, iron, zInc., copper, manganese and others for applications in poultry, swine, ruminants, aquaculture and others.
The increasing livestock population is expected to propel the growth of the water-soluble vitamin and mineral feed supplements market going forward.Livestock refers to animals that are kept or raised for various purposes, such as use, pleasure, or profit, particularly those that are raised on farms.
An agricultural producer breeds and raises livestock, which encompasses cattle, hogs, horses, poultry, sheep, and small animals.Livestock can be provided with water-soluble vitamin and mineral feed for their nutritional requirements including promoting healthy bone development and maintaining reproductive efficiency.
For instance, in March 2023, according to Eurostat, the Luxembourg-based statistical office, between November and December 2022, Italy’s pig population rose by 330,000 heads, which represents a 4% increase compared to the same period in 2021.Similarly, Sweden’s pig population increased by 50,000 heads, or 3% compared to the same period in 2021.
Overall, in May 2022, the European Union had a significant livestock population, with an estimated 142 million pigs, 76 million cattle, 60 million sheep, and 11 million goats. Therefore, the increasing livestock population is driving the growth of the water-soluble vitamin and mineral feed supplements market going forward.
Product innovations are a key trend gaining popularity in the water-soluble vitamin and mineral feed supplements market.Major companies operating in the water-soluble vitamin and mineral feed supplements market are launching innovative mineral feed supplements to sustain their position in the market.
For instance, in October 2021, Boehringer Ingelheim International GmbH, a Germany-based pharma company, launched Bovikalc Dry, an oral mineral supplement that enhances the comfort and well-being of dairy cows during the crucial "dry off" period of 45 to 60 days before the delivery of the next calf.This product is the first of its kind to be introduced to the US market and effectively reduces milk production in cows during the "dry off" phase, which prevents milk accumulation and udder swelling, ensuring a more comfortable dry-off experience.
Bovikalc Dry is an ideal complement to BOVIKALC, an oral calcium supplement that has been a part of Boehringer Ingelheim’s product range for many years.
In October 2021, Koninklijke DSM N.V., a Netherlands-based company that produces and sells a variety of nutritional products acquired First Choice Ingredients for $0.45 billion. Through this acquisition, Royal DSM aims to access the First Choice Ingredients’ technology, expertise, and customer relationships in the animal feed industry. First Choice Ingredients is a US-based manufacturer of water-soluble vitamins and mineral feed for the animal feed industry.
The countries covered in the water-soluble vitamin and mineral feed supplements market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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.
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