The North America feed minerals market size is anticipated to expand at a significant CAGR during the forecast period 2021–2028. Growth of the market is attributed to growing awareness about animal health, changing food habits, and rapidly changing demographic structure of the country.
The salt that contained in the feeds is not sufficient for all farm animals generally they need more salt, which is regularly provided by farmers. Calcium & phosphorus minerals are more essential than other minerals. They are widely used to produce eggshells, bones, and milks in farm animal’s body.
Defluorinated phosphates, bone meal, and dicalcium phosphate are important & good sources of phosphorus & calcium. From the calcium carbonate the eggshell is created. The minerals which are high in calcium such as marl, ground limestone, and ground seashells are used to fulfill calcium requirement.
The covid-19 pandemic impacted the supply & demand of the North America feed minerals market. Decreasing supply of raw materials, lockdown across the globe, and supply chain disorders forced companies to close 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.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing consumption of meat is projected to boost the market.
- Increasing need for feed minerals across country is the major factor fueling the market.
- High cost of feed minerals products is projected to restrict the market expansion during the forecast period.
- Government ban on use of certain minerals is anticipated to hamper the market growth in the coming years.
- R&D investment and technological advancement in feed minerals market is projected to offer lucrative opportunities for the market players.
Scope of Feed Minerals Market Report
The report on the North America 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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North America Feed Minerals Market–Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018-2019
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Forecast Period
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2021-2028
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Segmentation
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Types (Macro Minerals [Potassium, Calcium, Magnesium, Phosphorous, and Others] and Micro Minerals [Zinc, Copper, Iron, and Others]), Animal Types (Aquaculture, Ruminants, Swine, Poultry, and Others), End-users (Livestock, Integrators, Farmers, Aquaculture Industry, Home-Mixers, and Compound Feed Manufacturers)
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Geographical Scope
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United States, Canada, Mexico, and Rest of the North America
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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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Zinpro Corp.; Mercer Milling Company; Cargill, Inc.; Kemin Industries, Inc; Alltech; ADMA Animal Nutritional; Novus International; MULTIMIN USA, INC.; and Pancosma SA
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Feed Minerals Market Segment Insights
The vitamins segment accounts for a key share of the market
Based on types, the North America feed minerals market is bifurcated into macro minerals and micro minerals. The macro minerals are sub-segmented into potassium, calcium, magnesium, phosphorous, and others. The micro minerals segment is sub-segmented into zinc, copper, iron, and others. The vitamins segment accounts for a key share of the market.
Growth of the market is attributed to rising awareness about side effects of feed additives on animal health and increasing income level of customers. However, the amino acids segment is anticipated to expand at a rapid pace during the forecast period due to factors such as rapid development in feed additives and compound feed sector and rising consumption of meat.
The poultry feed segment accounts for a major share of the market
On the basis of animal types, the market is segmented into aquaculture, ruminants, swine, poultry, and other types. The poultry feed segment accounts for a major share of the market. Growth of the market is attributed to increasing supply of quality products and increased demand for high-value animal protein. The ruminant feed segment is anticipated to expand at a rapid pace during the forecast period due to factors such as increased industrial livestock production and rising demand for vitamins.
The compound feed manufacturers accounts for a significant share of the market
Based on end-users, the North America feed minerals market is divided into livestock, integrators, farmers, aquaculture industry, home-mixers, and compound feed manufacturers. The compound feed manufactures segment accounts for a key share of the market. Growth of the market is attributed to rising government initiatives in production of domestic meat and increasing number of aquatic and poultry farms.
However, the livestock segment is anticipated to expand at a rapid pace during the forecast period due to factors such as rapid development in feed additives and compound feed sector and increasing number of organizations in animal feed industry.
United States is anticipated to hold key market share
On the basis of region, the North America feed minerals market is categorized as United States, Canada, Mexico, and Rest of North America. The market of Canada is projected to expand at a high CAGR during the forecast period due to rapid economic growth and rising awareness about the quality of meat consumed. Market of the US is estimated to hold key market share due to increasing population, technological advancement in feed practices, and growing awareness about animal health.
Segments
The North America feed minerals market has been segmented on the basis of
Types
- Macro Minerals
- Potassium
- Calcium
- Magnesium
- Phosphorous
- Others
- Micro Minerals
Animal Types
- Aquaculture
- Ruminants
- Swine
- Poultry
- Others
End-users
- Livestock
- Integrators
- Farmers
- Aquaculture Industry
- Home-mixers
- Compound Feed Manufacturers
Geography
Key Players
Competitive Landscape
Key players competing in the North America feed minerals market include Zinpro Corp.; Mercer Milling Company; Cargill, Inc.; Kemin Industries, Inc; Alltech; ADMA Animal Nutritional; Novus International; MULTIMIN USA, INC.; and Pancosma SA.
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and rise their production line of the business in the coming years.
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