Market Size of Mineral Feed Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.50 % |
| Fastest Growing Market | Middle East and Africa |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Mineral Feed Market Analysis
The mineral feed market was valued at USD 3.5billion in 2018, and it is expected to register a CAGR of 4.5% during the forecast period (2019-2024). In 2018, Asia-Pacificis 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.
