Feed vitamins have been considered very essential for all livestock which drives the animal feed market. An increase in the demand for quality meat, developing markets, health concerns and disease outbreak in livestock have driven the growth of the feed vitamin market globally. The Feed Vitamin Market Share and Forecast 2021-2026 report prepared by Market Data Forecast estimates that the global feed vitamins market, which was worth USD 10.32 billion in 2021, will reach USD 12.28 billion by 2026. The report predicts a CAGR rate of 2.4%.
By Derya Yıldız
Vitamins are supplements included in the animal feeds in small amounts for the overall growth, well-being and performance of the livestock. Deficiency of vitamins can be adverse to the health of the animals and will also lead to a wide range of diseases. Vitamin supplements are considered necessary in animal feeds for all kinds of livestock, and this has traditionally fuelled the animal feed vitamins market. Modern feeds are produced by selecting specific ingredients that provide a high nutrition diet to livestock for their better health and also for obtaining good end products like milk, egg, and meat.
Majorly there are four vitamins that are included in the animal feed. Vitamin A is mostly lacking in animals which are essential for growth, reproduction, and milk production. Vitamin D is abundant in animals and is required to consume the calcium and phosphorus present. Vitamin B group is generally not required for the livestock as it gets synthesized in their rumen but young calves and monogastric animals need it. Vitamin E is necessary for the prevention of paralysis and also for the hatching of eggs. These feeds are used by poultry and dairy farmers.
MARKET GROWTH EXPECTATIONS
The Feed Vitamin Market Share and Forecast 2021-2026 report prepared by Market Data Forecast estimates that the global feed vitamins market, which was worth USD 10.32 billion in 2021, will reach USD 12.28 billion by 2026. The report predicts a compound annual growth (CAGR) rate of 2.4%.
Research and Markets’ report entitled “Feed Vitamins Market – Growth, Trends, Covid-19 Impact, and Forecasts (2021 – 2026)”, forecasts a CAGR of 3.4%, supporting growth expectations.
“Feed Vitamins Market – Growth, Trends, Covid-19 Impact, And Forecast (2021 – 2026)” report by Mordor Intelligence also supports a CAGR of 3.4% for the 2021-2026 period.
COVID-19 EFFECT ON THE MARKET
China is by far the world leader in vitamin production. The country is the major producer of vitamins B1, B3, B8, B11, and B12. As the Covid-19 pandemic spread took place in China, it affected multiple production and transport disruptions in China, which again affected much of the global supply of feed vitamins.
The stoppage of production in some of the major manufacturers in China and the stoppages in the transportation process disrupted the global supply chain to a large extent. All these problems in the supply process have recently led to serious price increases in some vitamins.
MARKET DRIVERS
Feed vitamins have been considered very essential for all livestock which drives the animal feed market. An increase in the demand for quality meat, developing markets, health concerns and disease outbreak in livestock have driven the growth of the feed vitamin market globally. The drivers identified in this market are industrialization of the livestock industry, expansion of animal meat market, changing demographics structure in Asia-Pacific and South America.
Furthermore, the disease outbreak is fuelling the vitamin market. For instance, in young animals, Vitamin A is particularly important for preventing growth disorders, while its epithelial protective function has great importance in older animals. This has resulted in the increased inclusion of vitamins in the feed.
The high cost of processing and raw materials is hindering the growth of the market.
VITAMIN NEEDS AND EFFECTS IN ANIMALS
The vitamins are fed to the animals in the form of different combinations, and are formulated with other additives such as minerals, probiotics, enzymes, and etc. Vitamins are mainly used in minuscule quantities, and, sometimes, they act as antioxidants and preservatives for animal feed.
According to the “Global Feed Vitamins Market – Growth, Trends and Forecasts (2018 – 2023)” report prepared by 360 Market Updates; Vitamin A and Vitamin E are the two major fat soluble vitamins in the feed market. Vitamin A helps to maintain the internal and external linings and is critical for a healthy reproductive tract. Vitamin A is not readily available in most of the feeds and the lack of it affects the eyes of the livestock. Signs of a Vitamin A deficiency include that of watery eyes, a rough hair coat, and most importantly reduction of the growth rate in the livestock. Moreover, Vitamin D is critical in regulating the absorption of calcium and phosphorus. Vitamin E is very critical in promoting livestock health. A supplementation of Vitamin E helps in inducing a lower drop in pH, and thereby to prevent the syndrome of pale, soft and exudative meat syndrome (PSE), a problem prevalent in turkeys rather than in broilers. A lack of Vitamin E also causes failure in the reproductive system. An integration of Vitamin E also helps to stabilize the oxidization in the feed. Alfalfa is a good source of vitamin E. Vitamin K is also critical in blood clotting. Though Vitamin K is typically not necessary in the diet, however, the need of improved gut health and digestion drives the need for these vitamin additives types.
In poultry, vitamins are required only in small quantities, and are critical in normal body functions, growth, and reproduction. Poultry can inherently make Vitamin C, and thereby there is no dietary requirement required for Vitamin C. However, Vitamin C supplementation is useful to feed at stressful conditions such as early stages of growth. Vitamin A is required for growth, reproduction and proper maintenance of animal cells. In addition, Vitamin D3 is critical for proper absorption and utilization of calcium and phosphorous, which are critical for growth, bone development, and eggshell formation of poultry.
Vitamin D is also critical for birds and pets, deficiency of which leads to rickets, or a phenomenon of producing thin shelled eggs with reduced hatchability, weakness in legs and muscles. Vitamin E is antioxidant and is vital for normal neurological functions. Deficiency of Vitamin D leads to encephalomalacia disease in the chicken, exudative diathesis in young birds, along with muscular dystrophy. Vitamin K is critical for synthesis of prothrombin, and plays an integral role in clotting mechanisms and has a protective effect against coccidiosis. Deficiency of Vitamin K may cause an increase of blood spots in eggs, hemorrhages in the legs and a failure of blood clotting.
The B vitamins include vitamin thiamin, riboflavin, niacin, pantothenic acid, pyridoxine, biotin, folic acid, and cyanocobalamin. A vitamin premix is readily used to compensate for the deficit of vitamins found naturally in feed and assures adequate levels of vitamins in the poultry livestock. Riboflavin (Vitamin B2) is a critical part of enzyme systems and the vitamin is effectively used as an additive and plays a critical role in metabolism. The deficiency causes health malfunctioning and also causes paralysis in birds. In adult birds, the deficiency often leads to decreased egg production, as well as increased embryonic mortality to name a few common syndromes. Lack of Vitamin B6, B12 causes embryo mortality as well as hemorrhages in the embryo as well as deficiency and convulsions along with jerky movements are commonly witnessed in poultry.
As far as poultry production is concerned, more and more companies are involved in the business of raising, processing and marketing chickens and other forms of poultry. In US alone, about 25,000 family farmers have production contracts with these companies and approximately 95 percent of broiler chickens are produced on these farms. The trend of raising the livestock in the farms has brought about the increased usage of feed vitamins supplements in these livestock. The increased share of poultry among the livestock has helped to generate an increased demand of feed vitamins as a supplement in the last five years.
As animals become more productive, various vitamins need to be included for ruminants as well. Therefore, livestock producers typically use feed additives, such as Vitamin E, to increase the antioxidant capacity of animals and reduce economic losses.
Major Players:
Adisseo France S.A.S
Alltech Inc.
Archer Daniels Midland Co.
Atrium Innovations, Inc.
Bactolac Pharmaceutical, Inc.
BASF SE
Bio Multimin Inc.
Biochem
Biomin GmbH
Cargill Inc.
CJ Group
CP Group
CSPC Pharmaceutical Group Ltd.
Davidsons Animal Feeds
Royal DSM – DSM Nutritional Products AG
DuPont
Evonik Industries
Ferrosan Holdings
GlaxoSmithKline
Global Bio-Chem
Kemin Industries Inc.
Lesaffre
Lonza Group
Meihua Group
Mercer Milling Co. Inc.
North China Pharmaceutical Group
Novozymes A/S
Novus International Inc.
Nutreco NV
Nutritech International
Pancosma SA
Pfizer
Pharmative LLC
Sumitomo Chemical
Vitafor NV
Vitec Nutrition
Zhejiang Medicine Co., Ltd.
Zhejiang Xinhecheng Co. Ltd.
Zinpro Corporation
Zoetis
MARKET STATUS ON REGIONAL BASIS
The feed vitamins market will be driven majorly by Brazil, the United States, India, and China. However, emerging economies are likely to be the fastest adopter of poultry supplements during the forecast period (2021-2026), which in turn will boost the feed vitamins market during the forecast period.
Regionally, Asia Pacific dominates the market. Livestock feeding in Asia-Pacific majorly is highly dependent on agricultural products like maize, sorghum, soybean meal, groundnut meal, and rice bran. However, with rising livestock animal health standards and the subsequent large-scale adoption of compound feed, several vitamins like A, D, E, K, and B are increasingly being included in livestock diets across the region.
MAJOR PLAYERS IN FEED VITAMINS MARKET
The global feed vitamin market is fairly consolidated. The active players are not only competing on the basis of product quality and promotion but are also focused on their strategic moves to hold larger market shares. Companies are investing heavily to develop new products and collaborating and acquiring other companies. This factor is expected to increase its market shares and strengthen R&D activities.
Resources:
• Market Data Forecast, Feed Vitamin Markey, 2021-2026, https://www.marketdataforecast.com/market-reports/global-feed-vitamin-market
• Research and Markets, Feed Vitamins Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026), https://www.researchandmarkets.com/reports/4515659/feed-vitamins-market-growth-trends-covid-19
• Mordor Intelligence, Feed Vitamins Market – Growth, Trends, Covid-19 Impact, And Forecast (2021 – 2026), https://www.mordorintelligence.com/industry-reports/global-feed-vitamins-market-industry
• Shibuya Data Count, Feed Vitamins Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026), https://www.sdki.jp/reports/feed-vitamins-market/112493
• 360 Market Updates, Global Feed Vitamins Market – Growth, Trends and Forecasts, (2018 – 2023), https://www.360marketupdates.com/global-feed-vitamins-market-12885227
