Feed Minerals Market: By Type of Animal (Swine, Poultry, Ovine, Bovine, Equine, Canine, Aquaculture), By Type of Minerals (Macro Minerals (Phosphorous, Calcium, Magnesium, Potassium, Others), Micro Minerals (Copper, Iron, Zinc, Selenium, Cobalt, Others) and Geography  

Feed Minerals Market size was valued at USD 3.65 billion in 2023 and is poised to grow at a CAGR OF 5.4% from 2024 - 2030. The mineral feed consists of different types of minerals which are very essential for the nutrition of animals and are augmented with flavoring agents, vitamins, facilitating agents, and other medicated substances. These minerals complement different functions of the animal body that include muscle contraction, bone development, acid-base balancing, stimulation of enzymes, etc. Minerals are common substances that are supplemented in ideal quantities along with feed to animals to maintain the growth, health, and well-being of animals. The rise in meat consumption is accelerating demand for meat and poultry. As per (Food and Agriculture Organizations) FAO, in 2015, global production of meat was more than 300M tonnes and is estimated to witness growth of 1.5%. High production of meat production in South Asia, India, and China is boosting the feed minerals market.

According to the statistics of FAO, Globally, people consume an average of 75 pounds of meat per year by a person. About 198.87 lb/per capita is consumed by Australians every year. Advancements in Technology in the forage industry doubled owing to the rise of breeding of livestock in India, Brazil, and China driving feed minerals market growth. Many of the industry players are captivated by acquisitions, mergers, collaborations, and the development of products to expand the business and create a robust customer base. For instance,

Feed Minerals Market Key Developments: 

• In December 2015, Nutreco, a feed minerals manufacturer came into an agreement with Heritage to acquire hydroxy-based animal trace minerals.