(Entertainment-NewsWire.com, March 14, 2017 ) The Global Feed Vitamin market is expected to grow at a CAGR of 2.4% and reach USD 8.89 billion by 2021 from USD 7.9 billion in 2016. Feed vitamins are food supplements which are given to farm animals as they are unable to get enough vitamins from the daily meals. These feed vitamins become necessary sometime as deficiency of vitamin causes many diseases and also hinder the growth of animals. Modern feeds are produced by selecting specific ingredients which provide high nutrition diet to livestock for their better health and also for obtaining good end products like milk, egg and meat.
Majorly there are four Vitamins which are included in the animal feed. Vitamin A is mostly lacking in the animals which is essential for growth, reproduction and milk production. Vitamin D is abundant in animals and is required to consume the calcium and phosphorus present. Vitamin B group is generally not required for the livestock as it gets synthesized in their rumen but young calves and monogastric animals need it. Vitamin E is necessary for the prevention of paralysis and also for hatching of eggs. These feeds are used by poultry and dairy farmers.
Feed vitamins have been considered very essential for all livestock which drives the animal feed market. Increasing health concerns due to disease outbreak in livestock and increase in demand of high quality meat are driving the market. High cost of processing and raw materials is hindering the growth of the market.
Mainly the feed vitamin market is segmented based upon type of Vitamins into Vitamin A, Vitamin B, Vitamin C, Vitamin D, Vitamin E and Vitamin K. Type of livestock include swine, ruminants, poultry, aquatic animals and others. They are either single functioned or multi functioned. On the basis of formulation, they are divided into liquid, dry and others (powder, pellet). Poultry is the largest and fastest growing segment due to increase in population and hence demand for meant and egg is increased.
Geographically the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. Asia Pacific leads the market with highest number of shares and is likely to be the fastest growing region as well. Europe is the second largest market. China is the world’s largest producer and consumer of vitamin feeds due to higher disposable incomes, increasing middle class population and changing personal health perception.
This market is dominated by the companies like S.A.S, Aland BASF SE, CSPC Pharmaceutical Group Ltd., Zhejiand Medicine company Ltd., Pharmative LLC, North China pharmaceutical corporation, Archer Daniels Midland company, Evonik industries and DSM N.V.
