Market Size of Mineral Feed Industry
| 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 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 Size Summary
The mineral feed market is experiencing a steady expansion, driven by the increasing demand for high-quality meat and the adoption of scientific methods in livestock production, particularly in the Asia-Pacific region. This region, which is the largest geographic segment of the market, is witnessing a rise in protein consumption due to stable economic conditions, urbanization, and lifestyle changes. The livestock industry is evolving to meet the growing demand for meat, which is expected to boost the consumption of feed minerals. Awareness among farmers in developing countries such as India, China, Brazil, Mexico, and South Africa is also contributing to the market's growth. The focus on sustainable development by organizations like the Food and Agriculture Organization (FAO) is further supporting the sector by addressing animal health and welfare through sustainable nutrition and feeding practices.
The market is characterized by significant competition, with major feed additive companies like DSM NV, Nutreco NV, and Cargill Inc. holding substantial market shares. The industrialization of the livestock and meat processing industries is driving the increased use of mineral feed as a supplement and nutrient enhancer, essential for optimal animal growth and health. This trend is particularly pronounced in the Asia-Pacific region, where both production and consumption of animal-based products are expected to grow rapidly. The shift towards industrialized and landless meat production facilities, especially in developed regions like North America and Europe, is also influencing the market dynamics. As the market size expands, the necessity for feed mineral supplements becomes more pronounced, offering significant growth opportunities in the developing countries of Asia.
Mineral Feed Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rising Industrial Livestock Production
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1.2.2 Increasing Concern On Animal Health
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1.2.3 Growing Mineral Product Innovations
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1.3 Market Restraints
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1.3.1 Rising Cost Of Raw Materials
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1.3.2 Challenging Government Regulations
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitutes
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Macro Minerals
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2.1.1.1 Calcium
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2.1.1.2 Phosphorous
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2.1.1.3 Magnesium
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2.1.1.4 Potassium
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2.1.1.5 Other Macro Minerals
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2.1.2 Micro Minerals
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2.1.2.1 Iron
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2.1.2.2 Copper
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2.1.2.3 Zinc
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2.1.2.4 Other Micro Minerals
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2.2 Animal Type
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2.2.1 Ruminant
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2.2.2 Poultry
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2.2.3 Swine
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2.2.4 Aquaculture
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2.2.5 Other Animal Types
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 Spain
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Germany
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2.3.2.5 Italy
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2.3.2.6 Russia
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2.3.2.7 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle East & Africa
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2.3.5.1 South Africa
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2.3.5.2 Egypt
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2.3.5.3 Rest of Middle East & Africa
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Mineral Feed Market Size 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.
