The Middle East and Africa water-soluble vitamin and mineral feed supplements market size was valued at USD 0.49 billion in 2023 and is anticipated to reach USD 0.51 Billion in 2024 from USD 0.75 billion by 2032, growing at a CAGR of 15% from 2024 to 2032.
The gaining popularity of the market can be accredited to the growing livestock population, increasing consumption of livestock by-products, economic activities, organized livestock farming, and increasing consumer cautiousness.
Vitamins and minerals are crucial for all livestock as they play an important role in all life stages. Vitamin and mineral feed supplements ensure that livestock is provided the mandatory amount of vitamins and minerals required for growth and health. They are recognized globally as they enrich the health of livestock, thereby enhancing the quality of products they produce. For example, Ruminant vitamin and mineral feed supplements ensure proper milk-producing capacity and disease prevention.
An increase in the consumption of livestock meat, an increase in the use/consumption of by-products from livestock, a growing population, and increasing consumer awareness are the major factors accountable for the growth of the market. Nevertheless, the low adoption rate and the high cost of raw materials mandatory for the manufacture of vitamins and mineral supplements are the factors responsible for slowing down the growth of the market. Moreover, technological advancements in the synthesis of these supplements provide the growing potential for the market.
Based on the geographical analysis, the market is characterized by regions of the Middle East and Africa. 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. Middle East holds the largest share of the market, accounting for its huge population, and is also the fastest-growing market.
Some of the key companies dominating 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.
Related Reports
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 1600
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]
Reports By Region