Europe Feed Minerals Market Outlook 2031:
The Europe Feed Minerals Market size was valued at USD 828.59 Million in 2022 and is likely to reach USD 1.17 Billion by 2031 expanding at a CAGR of 4% during 2023 – 2031. The growth of the market is attributed to rising animal production in the Europe.
The minerals are a feed additive used in the animal feed for excellent growth, overall health, development of animals and for preventions of diseases in the livestock. The mineral feed involves calcium, salt, phosphorus, sulfur, magnesium, potassium, iron, copper, cobalt, zinc, iodine, selenium, and molybdenum.
The Covid-19 pandemic affected the demand and supply of Europe feed minerals additives market because of lockdown in various countries. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Europe Feed Minerals Market Trends, Drivers, Restraints, and Opportunities
- Increasing awareness and demand for hygienic, healthy, and nutritious products in this pandemic is estimated to drive the Europe feed minerals market.
- High consumption of meat in the European countries is projected to fuel the market during the forecast period.
- Increasing dairy products demand in the Europe is estimated to propel the Europe feed minerals market during the forecast period.
- Increasing outbreak of an animal’s diseases is hampering the Europe feed minerals market during the forecast period.
- European food safety authority is limiting the use of certain minerals which is hampering the Europe feed minerals market.
- Increasing demand of feed minerals from the large sized farmers is fueling the Europe feed minerals market during the forecast period.
Scope of Europe Feed Minerals Report
The report on the Europe feed minerals market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Feed Minerals Market - Europe Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Types (Macrominerals & Microminerals), Animal Types (Ruminants, Poultry, Swine, Aquaculture, and Others)
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Geographical Scope
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Spain, United Kingdom, France, Germany, Russia, Italy, and Rest of Europe
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Adisseo; Alltech; Nutreco NV; Kemin Industries; Novus International
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Europe Feed Minerals Market Segment Insights
The macrominerals segment is expected to grow at a rapid pace
Based on types, the Europe feed minerals market is bifurcated into macrominerals and microminerals. The macrominerals segment is expected to grow at a rapid pace. It includes sodium, sulfur, magnesium, and chlorine which are required in large amount in the animal’s diet. However, the microminerals segment is expected to expand at a rapid rate during the projected period owing to increasing demand of microminerals for avoiding various diseases.
The ruminant segment is projected to expand at a considerable CAGR
On the basis of animal types, the market is segregated into ruminant, swine, poultry, aquaculture, and others. The ruminant segment is projected to expand at a considerable CAGR during the forecast period owing to wide consumption and increasing cattle production in the Europe. On the other hand, the swine segment is anticipated to account for a major market share during the forecast period due to increasing meat requirement.
However, the poultry segment is anticipated grow at a rapid pace attributed to rising demand for animal protein sources and technological developments. The aquaculture segment is estimated to expand at a high CAGR during the forecast period due to large number of the farmers turning towards the aqua farming which includes fish, crabs.
The United Kingdom is anticipated to dominate the market
In terms of geography, the Europe feed minerals market is classified as Spain, the United Kingdom, France, Germany, Russia, Italy, and Rest of Europe. The United Kingdom is anticipated to dominate the market due to increasing livestock industries in that area.
Segments
The Europe feed minerals market has been segmented on the basis of
Types
- Macrominerals
- Microminerals
Animal types
- Ruminants
- Poultry
- Swine
- Aquaculture
- Others
Geography
- Spain
- United Kingdom
- France
- Germany
- Russia
- Italy
- Rest of Europe
Key players
Competitive Landscape
Key players competing in the Europe feed minerals market include Adisseo; Alltech; Nutreco NV; Kemin Industries; Novus International.
These key players are constantly implementing several marketing strategies such as merger & acquisitions, capital investments, partnerships, and new product development to sustain industry position in the market. Kemin Industries released KemTRACE Chromium-OR, an organic compliant chromium propionate feed additive for swine, cattle, broiler, and horse diets, in February,2021.
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