Feed minerals play a vital role in maintaining the health and productivity of animals. 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 a result, reports reveal that the global feed minerals market is showing positive signs of growth. With a current market size of billions of dollars and a steady CAGR, the market is estimated to reach a size of approximately USD 5 billion by 2030.
By Derya Yildiz
Feed minerals are defined as inorganic elements necessary for the physiological functions and metabolic processes of animals. These minerals are classified as macro and micro minerals (trace minerals). The macro mineral group includes minerals such as calcium, phosphorus, magnesium, potassium, sodium, chlorine, and sulphur, while the micro mineral group includes minerals such as iron, copper, zinc, iodine, selenium, cobalt, chromium, fluorine, manganese, and molybdenum.
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 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.
Some feed minerals suppliers in the world:
ORFFA
Adisseo
ADM (Pancosma)
Alltech
Animine
Animix
Balchem
BASF SE
Bio Minerals
Biochem
Biorigin
Brillant Bio Pharma
Cargill
Chemlock Nutrition
CJ CheilJedang
Danisco (IFF)
Davidsons Animal Feeds
De Heus
DLG Group
Dr. Eckel Animal Nutrition
Dr. Paul Lohmann
Dsm-firmenich (Biomin)
Evonik Industries
Global Animal Products
Global Feed
Imerys
JH Biotech
Josera Gmbh
Kalmbach Feeds
Kay Dee Feed
Kemin Inudustries
Kent Nutrition
Lallemand Animal Nutrition
Land O’Lakes
Mercer Milling
Mole Valley Farmers
Novonesis
Novus
Nutreco (Selko Feed Additive)
Pastell Nutrition
Phibro Animal Health
Phosphea
Purina Animal Nutrition
QualiTech
Ranch-Way
Ridley
SecoMind Chemicals
Solvay
Sumitomo Chemical
Tanke Biosciences
TIMAB Magnesium
Vamso Biotech
Vetagro
VH Group
Yara International
Zinpro
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 growth of the feed minerals market. These methods generally involve the use of feed minerals to improve the growth and productivity of livestock. Therefore, a significant increase in demand for feed minerals is expected, especially as farmers in developing countries become more educated.
The increasing importance of livestock nutrition and its impact on production performance is contributing to the future growth of the sector. Feed minerals are an important component of animal nutrition and provide important benefits such as improving growth, developing a strong immune system, and providing disease resistance. These benefits significantly increase the utilisation of these additives.
In addition, there is a particular increase in demand for feed minerals, especially in dairy farming. A well-balanced feed is also important for the profitability of dairy farms as it significantly increases 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 growth, egg production, and overall health. Increasing demand for poultry meat and eggs worldwide favours the growth of this segment.
Ruminants, including cattle and sheep, are considered the most important segment in the feed minerals market. These animals require a range of minerals for their growth, milk production, and reproductive health. Increasing demand for milk and meat products is fuelling the growth of the ruminant segment in the feed minerals market.
The swine segment is another important segment of the feed minerals market. Swine require a balanced diet including essential minerals for their growth and reproductive health. Increasing demand for pork products across the globe is fuelling the growth of this segment.
In summary, the global feed minerals market is segmented into various animal species, each with unique demands for feed minerals. The growth of these segments is driven by the increasing demand for animal products worldwide, emphasising the importance of feed minerals in animal nutrition.
MARKET GROWTH ON REGIONAL BASIS
The global feed minerals market is segmented into various regions, each with unique demands for feed minerals. The growth of these regions is driven by various factors, such as the size of the livestock population, the level of industrialisation of animal husbandry, and consumer preferences for animal products.
For instance, the Asia-Pacific region dominates the feed minerals market due to its high livestock population. Increasing industrialisation of livestock farming to meet the growing demand for animal protein sources is leading to a greater focus on the optimal nutrition of livestock in this region. During the forecast period of 2024-2031, the Asia-Pacific region is projected to remain the largest market for feed minerals due to the increasing animal population and large feed production capacity.
North America is a major player in the global feed minerals market. The region has a well-established livestock industry and the demand for high-quality animal products is high. This increases the need for feed minerals to ensure the health and productivity of livestock.
Europe is another major market for feed minerals. The region has stringent regulations regarding animal health and welfare, which is fuelling the demand for high-quality feed minerals. Moreover, growing consumer preference for organic and natural animal products in Europe is expected to further boost the market growth.
South America, with its vast agricultural resources and growing livestock industry, is a promising market for feed minerals. The region is witnessing increasing demand for animal products, which is expected to steer the feed minerals market in the coming years.
The Middle East and Africa region is similarly expected to witness significant market growth for feed minerals in the coming years. The growth in this region can be attributed to increasing investments in the livestock sector and growing awareness about the importance of animal nutrition.
MARKET ENVIRONMENT FOR SUPPLIERS
The global feed minerals market is a competitive field with many key suppliers. These suppliers play an important role in fulfilling the diverse needs of the livestock industry. The competition environment is dynamic and companies are constantly striving to innovate and offer high-quality products to gain a competitive advantage. Industry leaders are expanding their customer base into various regions and many companies are forming strategic and collaborative ventures with other start-up businesses to increase their market share and profitability.
Sources:
1. Feed Minerals Market – Size, Share & Industry Analysis (mordorintelligence.com)
2. Feed Minerals Market Size, Growth & Trends Report | 2031 (skyquestt.com)
3. Feed Mineral Market Forecast 2024 to 2029 (marketdataforecast.com)
4. Mineral Feed Market Size, Share And Trends Forecast Report To 2033 (thebusinessresearchcompany.com)
5. In-Depth Industry Outlook: Feed Minerals Market Size, Forecast (verifiedmarketresearch.com)
6. Animal Feed Minerals Market Trends Report (datamintelligence.com)
