MARKET REPORT FEED & ADDITIVE MAGAZINE November 2024 75 Vitamin supplementation, which can increase reproductive efficiency in livestock by affecting fertility, pregnancy rates and offspring size, is also very important in terms of strengthening immunity. By strengthening the immune system, vitamins make animals more resilient to diseases and infections. In turn, this can reduce mortality rates and improve overall health. Another factor associated with vitamin supplementation is improved feed efficiency. Efficient use of feed is crucial for economic sustainability in animal production. Vitamins can improve the digestibility and absorption of feed, leading to better feed efficiency. Improving the quality, nutritional value, palatability and shelf life of animal products such as meat, milk and eggs is another reason for vitamin supplementation in animals. In summary, feed vitamins are essential components of a balanced diet in animal production. Feed vitamins contribute to productivity, profitability, sustainability and animal welfare in modern livestock production by correcting nutrient deficiencies, improving physiological processes and enhancing overall health. FEED VITAMINS MARKET AND FORECASTS The global feed vitamins market is experiencing significant growth due to increasing demand for animal products, growing awareness regarding animal health and nutrition, and strict regulations regarding animal feed quality. According to a Mordor Intelligence report, the global feed vitamins market, valued at USD 1.85 billion in 2024, is expected to grow at a CAGR of 4.34% during the forecast period 2024-2029 and reach USD 2.29 billion by 2029. Similarly, Research and Markets is another research firm that estimates the feed vitamins market size to be USD 1.85 billion in 2024. The company shares its forecast that the market will grow at a CAGR of 4.36% during the forecast period 20242029, reaching USD 2.29 billion by 2029. In another report by SkyQuest, the global feed vitamins market was valued at USD 2.5 billion in 2023. The company forecasts a more optimistic growth during the forecast period 2024-2031, estimating that the market will grow at a CAGR of 4.5% and reach USD 3.4 billion by 2031. MarketResearch.com's report contains the highest forecast number. The analysts of the research company, which announced that the global feed vitamins market reached a size of USD 3.45 billion in 2022, predict that the market will grow at a CAGR of 5.71% during the forecast period 2023-2030 and reach USD 5.37 billion by 2030. Technavio, which did not share data on the current market size (estimated at USD 2.8 billion in 2024), forecasts that the animal feed vitamin market size will grow at a CAGR of 4.19% between 2023 and 2028, reaching USD 3.3 billion in 2028.
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