The Africa feed vitamins market size was valued at USD 651.16 Million in 2022 and is likely to reach USD 1.05 Billion by 2031, expanding at a CAGR of 5.55% during 2023 – 2031. The growth of the market is attributed increasing meat consumption.
Dietary supplementation of dairy, sheep and goats with vitamins, in the form of a premix, is important as it has a positive impact on various aspect such as growth, health and milk production. However, improper eating of animal feed can lead to adverse effects. This is especially important under overeating or malnutrition conditions, which can lead to foodborne illness. In the case of these micronutrients, the purity and availability of the environment can play a major role in the wellbeing of animals.
Vitamins are the foundation of balanced animal nutrition. They are essential micronutrients that are required for normal physiological functions, including growth, and body development, reproduction.
Africa Feed Vitamins Market Trends, Drivers, Restraints, and Opportunities:
Increasing awareness among the farmers about the benefits of the feed additives is one of the major drivers that is contributing to the growth of the Africa feed vitamins market
Well-developed animal industry in Africa is expected to augment the market growth.
Deprived availability of the feed in large proportion can restraint the growth of the market.
The outbreak of COVID-19 has negatively impacted the Africa feed vitamins market. However, the market is anticipated to recover soon due to declining number of cases and acceleration in the vaccination drive in the region.
Rising food demand and increasing population are expected to proliferate the growth of the market.
Ongoing R&D activities to improve the quality of animal feed is expected to create lucrative opportunities during the forecast period.
Scope of Africa Feed Vitamins Market Report
The report on the Africa feed vitamins market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Africa Feed Vitamins Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
Types (A, E, B, C, and Others), Animal Types (Ruminant, Poultry, Swine, Aquaculture, Pet Food, Horses)
South Africa, Egypt, and Rest of Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Vitafor Nv, BASF SE, Pfizer, Inc., Pharmavite and Zinpro Corporation
Africa Feed Vitamins Market Segment Insights
Vitamin B segment to grow at a rapid pace
Based on types, the market is divided into A, E, B, C, and others. The Vitamin B segment is anticipated to account for a significant market share and is anticipated to grow at a steady rate during the forecast period. Vitamin B play a vital role in maintaining good health and well-being. Thiamine helps in regulating energy and carbohydrate metabolism, and activates ion channels in neural tissue. Riboflavin, B12, and niacin facilitate enzyme function in the body.
Poultry segment to account a large market share
On the basis of animal types, the market is segregated into ruminant, poultry, swine, aquaculture, pet food, and horses. The poultry segment is anticipated to account for a large market share during the forecast period. Increasing consumption of chicken is driving the growth of the market segment. If the desired feed is not formulated to the birds in the poultry segment, there are possibilities of reduced growth, and poor reproduction. Vitamins aid an animal by helping to regulate body functions, keeping the body healthy, and promoting resistance to diseases. Vitamins are organic nutrients that are needed in small quantities to perform specific functions.
South Africa to account a key market share
On the basis of geography, the market is segregated into South Africa, Egypt, and Rest of Africa. South Africa is anticipated to account for a key market share during the forecast period. The country has a well-developed livestock industry among all the Africa-based countries. It has a market-oriented animal farming industry that includes cattle, dairy, pigs, sheep, goats, and rabbits. It also has established poultry and dairy industry, which is expected to bolster the market's demand in the country.
The Africa feed vitamins have been segmented on the basis of
- Pet Food
- South Africa
- Rest of Africa
- Zinpro Corporation
- BASF SE
The major players of the market are Vitafor Nv, BASF SE, Pfizer, Inc., Pharmavite and Zinpro Corporation.
Companies are investing in research and development, and focusing on joint ventures and acquisitions to expand their market share.