MARKET REPORT FEED & ADDITIVE MAGAZINE June 2024 81 In general, minerals play a role in the expression and regulation of genes, enzyme systems regulating cellular functions, activity and functionality of vitamins, osmotic balance, detoxification, immunity, cell membrane function, acid-base balance and regulation, structural support, and growth (e.g. bone). They are essential to ensure optimum development of animals, maintain health, promote reproduction, support their performance, and increase disease resistance. Additionally, they also play a role in the quality and consistency of animal products. As minerals are not formed in the body, they must be taken in through water or food. To ensure that animals receive the appropriate amount of minerals from feed, many of the necessary minerals are often added to feed as additives. This group of additives is estimated to represent approximately 11% of the global feed additives market. Feed minerals, which provide numerous benefits to livestock, help to increase growth rate, better utilisation and increase of absorbed nutrients. These minerals also support the proper functioning of various bodily processes necessary to sustain life. Calcium, for example, is essential for the proper growth of teeth and the development of bones in the early stages of life. Phosphorus is thought to be effective in reducing muscular dystrophy (muscle weakness). They also have a very important influence on the quality of animal products such as meat, milk, and eggs. Mineral deficiency in animals can result in various health problems. These deficiencies can cause a wide range of negative effects such as decreased growth rates, decreased feed conversion, abomasal ulcers, lameness, poor immune function, sudden death, poor lactation, and impaired reproductive performance. In conclusion, feed minerals are an integral part of animal nutrition. They play a vital role in maintaining the health and productivity of livestock. Hence, it is extremely important to ensure that livestock have a balanced ration containing the necessary minerals. FEED MINERALS MARKET AND FORECASTS The significant impact of minerals on animal health and performance is fuelling market growth forecasts. According to a report by Mordor Intelligence, the global feed minerals market size will presumably be around USD 3.95 billion in 2024. Forecasting that the market will grow at a CAGR of approximately 4.42% between 2024 and 2029, the company predicts that the market size will reach USD 4.90 billion by 2029. In a similar forecast, DataM Intelligence reports that the global feed minerals market, which reached USD 2.81 billion in 2022, will grow at a CAGR of 5.4% during the forecast period 2024-2031, reaching USD 4.27 billion by 2031. Research and Markets points to a higher market value in its report on global feed minerals. The company explained the market size to be USD 4.73 billion in 2023, and forecasts that this size will
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