The Europe water-soluble vitamin and mineral feed supplements market was valued at USD 1.55 billion in 2023 and is anticipated to reach USD 1.67 billion in 2024 from USD 3.07 billion by 2032, growing at a CAGR of 7.9% from 2024 to 2032.
The growing importance of the market can be credited to the increasing livestock population, increasing consumption of livestock by-products, economic activities, organized livestock farming, and increasing consumer awareness.
Vitamins and Minerals make up some of the most important body functions in any living being. Lack or deficiency of these components causes these functions to ease, which may prove to be fatal or cause serious illness. Livestock contributes to food production through its products or services. To ensure their health, they must be supplied adequate amounts of vitamins and minerals to carry out these body functions. Vitamin and Mineral Feed supplements ensure the adequate mineral and vitamin supply in their feed.
Factors like an increase in the need for livestock meat, an increase in the use/consumption of by-products from livestock, an increasing population, and increasing consumer awareness are driving the market forward. Yet, the low adoption rate and the high cost of raw materials required for the fabrication of vitamins and mineral supplements may hamper the growth of the market. Moreover, technological advancements in the synthesis of these supplements provide the growing potential for the market.
Based on geological analysis, the market is classified into regions of the U.K., Germany, Italy, France, and Spain. Vitamin B3 is the most widely used in the vitamin feed supplement market due to its high importance in the life stages of all livestock. Potassium sources is most widely used in Mineral Feed Supplement Market as it is an essential component of enzymes. The United Kingdom holds the largest share of the market because of its huge population, and Italy is the fastest-growing market.
Some of the key corporations in 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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