The Europe Water-Soluble Vitamin and Mineral Feed Supplements Market was worth USD 1.33 billion in 2021 and estimated to be growing at a CAGR of 7.9%, to reach USD 1.95. The growing importance of the market can be credited to increasing livestock population, increasing consumption of livestock by-products, economic activities, organized livestock farming and increasing consumer awareness.
Vitamins and Minerals make up some 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 causes serious illness. Livestock contribute to food production by their products or by their services. To ensure their health they must be supplied adequate amount 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.
Europe Water-Soluble Vitamin and Mineral Feed Supplements Market Drivers:
Factors like increase in need of livestock meat, increase in use/consumption of by-products from livestock, increasing population and increasing consumer awareness are driving the market forward. Yet, the low adoption rate and the high cost of raw material required for the fabrication of vitamins and mineral supplements may hamper the growth of market. Moreover, technological advancements in synthesis of these supplements provide growing potential for the market.
Europe Water-Soluble Vitamin and Mineral Feed Supplements Market – By Vitamin Type:
Europe Water-Soluble Vitamin and Mineral Feed Supplements Market – By Mineral Type:
Europe Water-Soluble Vitamin and Mineral Feed Supplements Market – By Livestock:
Based on geological analysis the market is classified into regions of U.K., Germany, Italy, France and Spain. 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. United Kingdom is holding the largest share in 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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