MARKET REPORT 84 FEED & ADDITIVE MAGAZINE June 2024 the productivity of dairy cows. For this reason, producers pay more attention to feeds containing essential minerals and other nutrients in appropriate proportions in cattle diets. Another area where minerals are preferred is pet nutrition. Especially the increasing adoption of companion animals is expected to create demand for minerals. These animals, like farm animals, need a balanced diet containing the minerals necessary for their growth and health. In brief, the growth in the global feed minerals market is driven by a combination of factors such as increasing demand for quality animal meat/animal products, rising disposable income in developing countries, adoption of scientific methods to increase meat production, growing importance of livestock nutrition, increasing demand for dairy cattle, and increasing adoption of companion animals. These factors are expected to continue to favour the growth of the feed minerals market in the future. FACTORS LIMITING MARKET GROWTH While the global feed minerals market is experiencing significant growth, this growth could also potentially face some restrictive factors. According to the researchers, the most important factor is legislation. The feed minerals market operates under a strict regulatory framework. These regulations are designed to ensure the safety and efficacy of feed minerals. However, complying with these regulations can be difficult and costly, potentially slowing market growth. Increasing outbreaks of animal diseases is another factor that has the potential to slow the expansion of the international feed minerals market. According to experts, these diseases can reduce demand for feed minerals, both because they can lead to a decline in animal populations and because they are difficult to combat. Increasing raw material costs have also been identified as a challenge for the feed minerals market, as in many other markets. The cost of raw materials used in the production of feed minerals can have a significant impact on overall production costs. This could potentially make these products less economical for farmers. The side effects of mineral feeds, such as constipation, diarrhoea, and muscle cramps, are also considered factors that could hinder the market growth. According to researchers, these side effects may reduce the demand for feed minerals as they may negatively affect the health and welfare of livestock. All these factors need to be carefully considered by stakeholders in the feed minerals market. MARKET SITUATION BY ANIMAL TYPE The global feed minerals market is segmented based on animal types into aquaculture, poultry, ruminants, and swine. Each of these segments has a unique demand for feed minerals, which contributes to the overall growth of the market. Aquaculture is the fastest-growing segment in the global feed minerals market. Growing demand for fish and seafood across the globe is fuelling the need for high-quality feed minerals in aquaculture. These minerals are essential for optimum growth and health of aquatic species. The poultry segment already holds a significant share in the feed minerals market. Poultry need a balanced diet, including essential minerals, for their
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