According to a recent report by Future Market Insights, market research and competitive intelligence provider, sales of mineral premixes are estimated to reach a value of USD 1.74 Bn by 2032, surging at 8.6% CAGR through the decade. The mineral premix market in the U.S is expected to grow at a CAGR of 8.4% during the forecasted period 2022-2032.
Animals’ feeds continue to contribute significantly to the global food supply. As a result, animal feeds have grown in importance as a component of the integrated food chain. As a result, the significant increase in global demand for livestock products necessitates an increase in feed supplies, sources, and alternatives.
Another important reason to consider alternative, cost-effective, and convenient sources of animal feed is global population growth. One of the most expensive components of feed formulation in livestock diets is appropriate dietary concentration.
Feed additives and ingredients such as minerals, Minerals, antibiotics, amino acids, and colorants are blended in various proportions to produce compound feeds for various animal species. As a result of their concentrated energy source and feed efficiency, mineral premixes have rekindled interest in the animal feed industry.
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Key Takeaways from Market Study
- The mineral premix market in the U.S is expected to grow at a CAGR of 8.4% during the forecasted period 2022-2032.
- The mineral premix market in India is expected to grow at a CAGR of 8.7% during the forecasted period 2022-2032.
- In 2022, the powder segment is expected to account for the largest share of the mineral premixes market.
- In 2022, the combination premixes segment is expected to hold the largest share of the mineral premixes market.
- The COVID-19 pandemic has caused a halt in critical trade activities in a number of countries. This is an important factor that is expected to have a negative impact on the mineral premix market’s future revenue growth prospects.
“Rising consumption of mineral-enriched food and beverage products is one of the key factors driving market growth at the moment,” says a lead analyst at Future Market Insights.
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Who is Winning?
Industry players are now working on developing strategies for expanding their existing product portfolios, acquiring industry-related players, and so on, in order to maintain or improve their respective market positions. In the coming years, new product manufacturing developments and innovations are expected to provide new opportunities for potential revenue growth.
- Royal DSM, a global science-based company in Nutrition, Health, and Sustainable Living, acquired Glycom A/S, the world’s leading supplier of Human Milk Oligosaccharides (HMO), for an enterprise value of Euro 765 million in April 2020.
Some of the key players in the Mineral Premix Market include Corbion N.V., Farbest-Tallman Foods Corporation, Glanbia plc, Koninklijke, DSM N.V., Nutreco N.V., SternVitamin GmbH & Co. KG, Vitablend Nederland BV, Watson Foods Co., Inc., Wright Enrichment Inc., Zagro Asia Ltd.
Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of mineral premix presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
Mineral Premix Market by Category
By Form, Mineral Premix Market is Segmented by:
- Powder
- Liquid
By Function, Mineral Premix Market is Segmented by:
- Bone Health
- Immunity
- Digestion
- Energy
- Heart Health
- Weight Management
- Vision Health
- Brain Health & Memory, Resistance, Others
By Application, Mineral Premix Market is Segmented by:
- Food Sector
- Dietary Supplement
- Pharma OTC Drugs
- Pet Food
By Region, Mineral Premix Market is Segmented as:
- North America
- Latin America
- Europe
- Middle east and Africa
- East Asia
- South Asia
- Oceania
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