MARKET REPORT 82 FEED & ADDITIVE MAGAZINE June 2024 reach USD 5.01 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. Research and Markets forecasts that the growth will continue at a CAGR of 5% in the following years and the total market value will reach USD 6.1 billion in 2028. Verified Market Research (VMR) also forecasts that the global feed minerals market size, which was around USD 3.79 billion in 2023, will reach USD 5.33 billion in 2024. VMR reveals that growth will continue with a CAGR of 4.35% during the forecast period 2024-2031. The highest estimate for the market size belongs to Market Data Forecast analysts. In the company's report, the global feed minerals market size was estimated at USD 5.6 billion for 2021. Forecasting an annual growth rate of 6.40% for the upcoming period, the company estimates that the total market value will reach USD 6.9 billion by 2026. All the reports we have evaluated reveal that the global feed minerals market is showing positive signs of growth. With a current market size of billions of USD and a steady CAGR, the market is expected to continue to grow in the future and reach a size of approximately USD 5 billion by 2030. This represents a significant opportunity for stakeholders in the feed minerals market. FACTORS SUPPORTING MARKET GROWTH The global feed minerals market is experiencing significant growth driven by several key factors. The first of these factors is the increasing demand for high-quality animal meat. As consumers become more health conscious, the demand for high-quality meat in terms of taste, texture, and nutrient content is increasing. Minerals in rations used in animal nutrition can contribute to the optimum growth, muscle development, and performance of livestock, leading to improved meat quality. This situation contributes to the increase in demand for feed minerals. The increase in disposable income in developing countries is another factor that supports the market positively. With the increase in the disposable income of consumers, the demand for high-quality animal products is also increasing. As producers try to meet this demand by ensuring that their animals are well fed, this contributes to the growth of the feed minerals market. The adoption of scientific methods to increase meat production is another important factor in the
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