Nutritional quality of the forage and fodder provided to the animals holds utmost importance in the profit and loss equations of the businesses. It holds some of the largest costs in terms of operations as far as the animal industry are concerned. Balanced diet holds importance as long as the animal performance, quality and overall health is concerned, which eventually impacts the end users – humans. Animal diet should normally contain a balance of nutrients like proteins, vitamins, minerals and such other nutrition. Feed water soluble additives like vitamins and minerals are added in animal feed to increase its nutritional value. Growing demand for meat, livestock, pet animals and animal products is driving the global feed water-soluble vitamins & minerals market at steady rate.
Drivers and Restraints
As mentioned before, healthy and balanced diet for animals is vital to maintain their health and production. Increasing awareness about the association of animal health and nutritional food is driving the growth in demand for the products available in the global feed water-soluble vitamins and minerals market. These products are vital for productivity and health of the animals, which makes them a staple for this industry. Another factor driving the growth in the industry is the outbreak of livestock diseases of various types. Nutrition plays crucial role in providing immunity to the livestock, which is also driving this industry on the whole. Demand from emerging markets is a major boost for the industry. Critical inclusion doses and rise in the cost of raw materials however, are the major restraints for the market.
The global feed water-soluble vitamins & minerals market is segmented on the basis of the types of products, livestock and demand across different geographic regions. The types of products are sub-segmented on the basis of the different types of vitamins and minerals. Basic vitamins included in animal feed additives include vitamin C and vitamin B (B1, B2, B6, B9 and B12). The types of minerals include iron, zinc, copper, manganese, and other sources. The types of livestock are sub-segmented into aquaculture, poultry, swine, cattle and others. Geographically, the feed water soluble nutrition market is segmented into North America, Asia Pacific, Europe and rest of the world.
According to the expert analysis of all the segments, trends, restraints and drivers, the global feed water-soluble vitamins & minerals market is expected to grow at steady CAGR. From 2014 to 2020, the industry is expected to grow at over 3%. During the forecasting period, the feed water-soluble vitamins market is estimated to be worth more than $1,640.2 million by 2019. Feed water-soluble minerals market on the other hand is anticipated to become worth more than $2,092.8 million by 2019. During this period, Asia Pacific region is expected to witness the highest growth, wherein China is expected to be the strongest region.