Mineral Feed Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

Mineral Feed Market Analysis

The mineral feed market was valued at USD 3.5 billion in 2018, and it is expected to register a CAGR of 4.5% during the forecast period (2019-2024). In 2018, Asia-Pacific is the largest geographic segment of the market studied and accounted for a share of around 31% of the overall market.

• Stable economic conditions, urbanization, and changes in lifestyles in Asia-Pacific have led to increased protein consumption.
• The livestock industry in the region has started adopting scientific methods to increase production and maintain a steady supply of meat in the market. This has led to increased consumption and is expected to drive the market during the forecast period.
• Demand for high-quality meat from the meat processing industry is further expected to increase consumption of feed minerals. The market is expected to expand gradually with awareness among the farmers in the developing countries, such as India, China, Brazil, Mexico, and South Africa, among others.

Mineral Feed Industry Segments

Minerals are supplements included in the animal feed for optimal growth, development, overall health, and well-being, and for the prevention of diseases in the livestock. Essential trace elements and minerals that are not adequately produced in the body need to be added in the feed externally for better standards and quality of animal-derived products. Along with the market expansion, manufacturers of the mineral feed are focusing on the development of new products.

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Mineral Feed Market Trends

This section covers the major market trends shaping the Mineral Feed Market according to our research experts:

Increase in Industrialized Livestock Production

The livestock sector has seen significant changes in the last decade. The surge in this demand has been fulfilled by commercial livestock production and their associated food chains. In many developing countries, like China, Japan, and India, livestock keeping has been a multifunctional activity. The Food and Agriculture Organization (FAO) has focused on sustainable development of ruminant, swine, and poultry. FAO has also taken the responsibility of animal health and welfare issues, by providing sustainable nutrition and feeding.

According to the World Bank, industrialized meat production is growing six times faster than traditional meat production methods. With an increase in the mass production of meat, change is observed toward landless meat production facilities. The meat production industry is moving toward consolidation, especially in developed parts of the world, such as the United States and Europe, to increase meat production with reduced land usage. The use of feed additives, such as mineral feed, increases water retention in livestock, thus enhancing meat quality and mass.

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