The Asia-Pacific Feed Mineral Market was worth USD 2.01 billion in 2021 and estimated to be growing at a CAGR of 7.32%, to reach USD 2.16 billion by 2026. Minerals are supplements comprised in the animal feeds for ideal growth, development, general well-being and deterrence of illnesses in the livestock.
Vital trace elements and minerals that are not sufficiently generated in the body need to be added to the feeds externally for enhanced quality of animal derived products. They accomplish several tasks such as bone development, controlling acid base balances, muscle contraction, and enzyme stimulation.
Asia-Pacific Feed Mineral Market Drivers:
The growth of the Asia-Pacific Feed Mineral market is majorly driven by factors such as growing urbanization, rising intake of meat, growing population, and increasing disposable income. However, factors such as volatile economies, strict regulatory bodies, and rising cost of raw materials are obstructing the growth of the market in this region.
Asia-Pacific Feed Mineral Market – By Type:
Macro Minerals lead the Feed Mineral market with more than 80% of the market share. Calcium and potassium are the most used minerals under this category.
Asia-Pacific Feed Mineral Market – By Animal Type:
Under this segment, Ruminant leads the market accounting for more than 40% of the market share. However, horse feed minerals is projected to be the fastest growing segment in the others category with a CAGR of 8.3%.
The Asia-Pacific region is geographically segmented into
There is huge scope for potential growth of the market in this region with rising demand for Feed Minerals. The ruminant feed minerals segment is growing at the highest CAGR in the Asia-Pacific region. Emerging countries in this region offer a huge platform for growth of new players with innovative and precise animal feeds.
Asia-Pacific Feed Mineral Market Key Players:
The major players in the market are fixated on broadening their distribution networks to cater to the wider market. Investment in the production process is another tactic adopted by the manufacturers to decrease the expenses incurred. The major companies dominating the Feed Mineral market in this region are Royal DSM, Cargill Inc., Nutreco NV, Archer Daniels Midland, and Tanke Biosciences Corp.
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