The North America Water-Soluble Vitamin Feed Supplements Market was worth USD 2.16 billion in 2021 and estimated to be growing at a CAGR of 5.8%, to reach USD 2.82 billion by 2026. The gaining significance of the market can be attributed 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.
Drivers and Restraints of North America Water-Soluble Vitamin Feed Supplements Market:
The primary factors accounted for the growth of market are increase in daily intake of livestock meat, increase in use/consumption of by-products from livestock, increasing population and increasing consumer awareness. Conversely, the low adoption rate and the high cost of raw material required for the fabrication of vitamins and mineral supplements are restraining the market from growing. Also, technological advancements in synthesis of these supplements provide growing potential for the market.
North America Water-Soluble Vitamin Feed Supplements Market – By Vitamin Type:
North America Water-Soluble Vitamin Feed Supplements Market – By Mineral Type:
North America Water-Soluble Vitamin Feed Supplements Market – By Livestock:
Based on geographical analysis the market is segmented into regions of Canada and United States of America. 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 States is holding the largest share in the market due to its huge population and Canada is the fastest growing market.
Some of the key firms occupying 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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