Mineral Feed Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 4.5 Billion |
| Market Size (2029) | USD 5.60 Billion |
| CAGR (2024 - 2029) | 4.50 % |
| Fastest Growing Market | Europe |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Mineral Feed Market Analysis
The Mineral Feed Market size is estimated at USD 4.5 billion in 2024, and is expected to reach USD 5.60 billion by 2029, at a CAGR of 4.5% during the forecast period (2024-2029).
Minerals are essential in livestock diets, playing crucial roles in functions like bone development, reproduction, immunity, and metabolic regulation. The market includes a range of minerals added to animal feed, such as macro-minerals, trace minerals, and specialized blends, all vital to the farming and livestock sectors. Globally, there's a rising demand for animal-based proteins. Data from the Organisation for Economic Co-operation and Development (OECD) indicates that worldwide poultry meat consumption increased from 137.4 million metric tons in 2022 to 139.7 million metric tons in 2023. Furthermore, projections from the OECD-FAO Agricultural Outlook states that by 2030, protein availability will rise by 5.9% for beef, 13.1% for pork, 17.8% for poultry, and 15.7% for sheep meat. However, in high-income nations, shifts in consumer preferences, an aging demographic, and slower population growth are anticipated to stabilize per capita meat consumption, with a trend towards premium meat cuts. As global consumption of meat, dairy, and eggs surges, there's an intensified demand for optimized feed formulations to bolster livestock health and productivity, subsequently fueling the demand for feed minerals.
Moreover, minerals such as zinc, selenium, and copper are linked to disease resistance, as highlighted by the University of Pennsylvania. With the growing recognition of the connection between animal health and economic productivity, there's a surging demand for minerals that bolster immunity and overall well-being. The Alltech Feed Survey 2023 notes that technologies like nutritional solutions, biosecurity, and labor automation are significantly impacting the animal feed industry. Within nutritional solutions, enzyme management and mineral feed management stand out, representing 32% and 11% of global feed production focus, respectively. This underscores the pivotal role of minerals in feed management, supporting market growth. Consequently, the expanding animal feed industry, rising meat product demand, and heightened consumer awareness of mineral feed benefits are poised to propel market growth in the coming years.
Mineral Feed Market Trends
Rising Demand for Feed Minerals in Ruminants Fuels Market Expansion
Ruminants, such as dairy and beef cattle, sheep, and goats, are integral to global livestock, particularly in countries like India, Brazil, and the United States. These animals are vital for producing milk, meat, and other dairy products. Global livestock production has been expanding rapidly over the years. For example, the USDA Foreign Agricultural Service reported that India's cattle population increased from 306.7 million in 2022 to 307.6 million in 2023. This growth is driven by increased awareness of the importance of maintaining an optimal pH balance in ruminant diets and reducing acidosis risks, which in turn boosts the demand for feed minerals.
According to the Organisation for Economic Co-operation and Development (OECD), global beef consumption rose slightly from 71.6 million metric tons in 2022 to 71.9 million metric tons in 2023. The rising global demand for high-quality milk and meat products has led to the need for more efficient livestock production. As a result, dairy farmers are adopting more intensive farming practices, including high-energy diets for cattle. These diets, supplemented with feed minerals, enhance milk and meat production and support market growth.
Additionally, farmers are increasingly aware of the importance of balanced nutrition, leading to a higher demand for high-quality mineral supplements that ensure proper growth, reproduction, and immunity in livestock. This growing awareness encourages companies to launch new products, further driving market growth. For instance, in 2024, the United States Antimony Corporation introduced the zeolite mineral cattle feed additive, branded as CattleMaxTM, through its subsidiary, Bear River Zeolite Company. Therefore, the combination of increasing livestock production and demand, along with strategic product launches, is expected to drive market growth during the forecast period.
Asia-Pacific Dominates the Market
The Asia-Pacific region leads the world in both the production and consumption of animal feed, significantly impacting the mineral feed market. According to the Philippine Statistics Authority (PSA), the number of chickens in the country's poultry farming increased from 185 million in 2022 to 191 million in 2023. This growth in industrial animal production has driven up mineral feed production capacities in major economies across the region. Countries like China, India, Japan, Vietnam, Indonesia, and Thailand, which are among the largest livestock producers globally, are contributing to the rising demand for feed minerals.
Aquaculture is also thriving in countries such as China, India, and Vietnam. As this industry expands to meet the growing demand for seafood, the need for specialized minerals in fish feed, such as iodine and magnesium, is rapidly increasing. Government initiatives are supporting the purchase of these feed minerals. In 2024, India's Union Budget significantly increased funding for the Department of Fisheries to approximately USD 312 million (INR 2,616.44 crore), a 54% rise from the previous year. These initiatives aim to improve feed quality and technology through the usage of specific feed minerals thereby aiding the market.
The shift towards industrialized farming and large-scale feed production in the region is driving the demand for customized feed formulations, including mineral additives, to meet the specific needs of various animal species. In 2023, Gramik, India's first Peer Commerce platform in AgriTech, launched 'Heifer Mix,' a cattle feed supplement designed for young female cattle (heifers) to provide proper nutrition and support weight gain. Consequently, the combination of large-scale production capabilities, government support, and new product launches is propelling market growth during the forecast period.
Mineral Feed Industry Overview
The Mineral Feed Market is consolidated, with few players holding a major market share. The Mineral Feed Market is dominated by major players such as Nutreco NV, Cargill Inc., Novus International, DSM, and Archer Daniels Midland Company, who hold significant market shares. These companies operate globally and focus on forming agreements with other firms, launching new products, and investing in the expansion of their manufacturing units worldwide. Additionally, some players have expanded their geographical presence by acquiring or merging with foreign manufacturers. Significant investments have been made in domestic markets to meet local demand. Throughout the forecast period, investment has been the most preferred growth strategy, followed by mergers and acquisitions.
Mineral Feed Market Leaders
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Nutreco NV
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Novus International
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Cargill inc.
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DSM
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Archer Daniels Midland Company
*Disclaimer: Major Players sorted in no particular order
Mineral Feed Market News
- November 2024: Vilofoss has launched mineral feed product ShellFoss, for the poultry industry. The company states that this specialized mineral feed is crafted to improve eggshell stability in laying hens, offering effective protection against cracked and misshapen eggs, particularly during the hens' later laying stages.
- August 2024: BioZyme Inc. has unveiled its VitaFerm ReproMaxx line, designed to enhance reproductive success for cattle producers. These products, fortified with essential vitamins and minerals, include research-backed components. The new product line aims to optimize reproductive outcomes by leveraging the benefits of AO-Biotics Amaferm and Zinpro Performance Minerals.
- June 2023: Evonik has unveiled a new generation of Biolys, a reliable lysine source for livestock feed, containing 62.4 percent L-lysine. This product also includes valuable by-products from its fermentation process, providing additional nutrients and energy that benefit livestock such as swine and poultry.
Mineral Feed Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Industrial Livestock Production
4.2.2 Increasing Concern On Animal Health
4.2.3 Growing Mineral Product Innovations
4.3 Market Restraints
4.3.1 Rising Cost Of Raw Materials
4.3.2 Challenging Government Regulations
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitutes
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Macro Minerals
5.1.1.1 Calcium
5.1.1.2 Phosphorous
5.1.1.3 Magnesium
5.1.1.4 Potassium
5.1.1.5 Other Macro Minerals
5.1.2 Micro Minerals
5.1.2.1 Iron
5.1.2.2 Copper
5.1.2.3 Zinc
5.1.2.4 Other Micro Minerals
5.2 Animal Type
5.2.1 Ruminant
5.2.2 Poultry
5.2.3 Swine
5.2.4 Aquaculture
5.2.5 Other Animal Types
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Spain
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Germany
5.3.2.5 Italy
5.3.2.6 Russia
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East & Africa
5.3.5.1 South Africa
5.3.5.2 Egypt
5.3.5.3 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 DSM
6.3.2 Nutreco NV
6.3.3 Cargill Inc.
6.3.4 Novus International
6.3.5 Kemin Industries, Inc.
6.3.6 Alltech Inc.
6.3.7 Archer Daniels Midland Company
6.3.8 BASF SE
6.3.9 Bluestar Adisseo
6.3.10 Zinpro
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Mineral Feed Industry Segmentation
Feed minerals, vital inorganic compounds, are incorporated into animal feed to promote the nutrition, growth, and health of livestock, poultry, and other animals. These minerals play a pivotal role in numerous physiological processes, such as bone development, immune function, enzyme activity, reproduction, and maintaining overall metabolic balance. The Mineral Feed Market is Segmented by Type into Macro Minerals, and Micro Minerals, by Animal Type into Ruminant, Poultry, Swine, Aquaculture, and Other Animal Types, and by Geography into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. The report offers market size and forecasts in value (USD) for the above-mentioned segments.
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Mineral Feed Market Research Faqs
How big is the Mineral Feed Market?
The Mineral Feed Market size is expected to reach USD 4.5 billion in 2024 and grow at a CAGR of 4.5% to reach USD 5.60 billion by 2029.
What is the current Mineral Feed Market size?
In 2024, the Mineral Feed Market size is expected to reach USD 4.5 billion.
Who are the key players in Mineral Feed Market?
Nutreco NV, Novus International, Cargill inc., DSM and Archer Daniels Midland Company are the major companies operating in the Mineral Feed Market.
Which is the fastest growing region in Mineral Feed Market?
Europe is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Mineral Feed Market?
In 2024, the Asia Pacific accounts for the largest market share in Mineral Feed Market.
What years does this Mineral Feed Market cover, and what was the market size in 2023?
In 2023, the Mineral Feed Market size was estimated at USD 4.30 billion. The report covers the Mineral Feed Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Mineral Feed Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Mineral Feed Industry Report
Statistics for the 2024 Mineral Feed market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Mineral Feed analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Mineral Feed Market Report Snapshots
