The Asia Pacific Water-Soluble Vitamin and Mineral Feed Supplements Market was worth USD 3.33 billion in 2021 and estimated to be growing at a CAGR of 5.5%, to reach USD 4.25 billion by 2026. The gaining reputation of the market can be accounted to increasing livestock population, increasing consumption of livestock by-products, economic activities, organized livestock farming and increasing consumer awareness.
Improper or unbalanced diet leads to unhealthy livestock. Vitamins and Minerals are vital components of the feed as they play major roles in many life stages and body functions. Deficiency of minerals or vitamins causes dysfunctions/bad health and sometimes may be fatal. To overcome this Vitamin and Mineral Feed Supplements are used to ensure adequate supply of vitamins and minerals in the feed and in turn ensuring the health of animal.
Asia Pacific Water-Soluble Vitamin and Mineral Feed Supplements Market Drivers:
Major driving forces of the market are increase in demand of livestock meat, increase in use/consumption of by-products from livestock, increasing population and increasing consumer awareness. But, the low adoption rate and the high cost of raw material required for the manufacture of vitamins and mineral supplements are restricting the market growth. In addition, technological advancements in synthesis of these supplements provide growing potential for the market.
Asia Pacific Water-Soluble Vitamin and Mineral Feed Supplements Market – By Vitamin Type:
Asia Pacific Water-Soluble Vitamin and Mineral Feed Supplements Market – By Mineral Type:
Asia Pacific Water-Soluble Vitamin and Mineral Feed Supplements Market – By Livestock:
Based on geological analysis the market is separated into regions of China, Japan, South Korea, India and Australia. Vitamin B3 is the most widely used in Vitamin Feed supplement market due to its high importance in life stages of all livestock. Potassium sources is most widely used in Mineral Feed Supplement Market as it is an essential component of enzymes. China is holding the largest share in the market owing to its huge population and India is the fastest growing market.
Some of the key companies leading the market include BASF SE, Alltech, Lonza Group AG, Nutreco N.V., Archer Daniels Midland Company, DLG Group, Royal DSM N.V., Kemin Industries, BlueStar Adisseo, InVivo Group.
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