Europe Feed Vitamins Market Outlook 2031
The Europe feed vitamins market size was USD 38.1 Billion in 2022 and is anticipated to reach USD 70.05 Billion by 2031 expand at a significant CAGR 7% during the forecast period, 2023-2031. The growth of the market is attributed to increasing demand for quality meat and meat-based products.Vitamins are natural materials that are necessary for normal metabolic processes in animals.
Feed vitamins provide essential vitamins, included in animal feeds in adequate amount for the complete growth and performance of the livestock. Vitamins are organic nutrients, given to farm animals to provides high nutrition level, better health, and disease prevention. They do not provide energy but they are necessarily used for energy. Feed vitamins are mainly used by dairy and poultry animals.
Europe Feed Vitamins Market Trends, Drivers, Restraints, and Opportunities
- Increasing consumption of fortified food and supplements is anticipated to drive the market growth during the forecast period.
- Growing risks of various diseases is projected to boost the market growth in the coming years.
- Rising demand for high quality milk and eggs is anticipated to drive the market growth during the forecast period.
- Growing safety concerns associated with the outbreak of livestock diseases is estimated to spur the market growth in the coming years.
- Rising global industrialization of meat products is projected to boost the market growth in the coming years.
- Increasing preference for animal-sourced protein is anticipated to drive the market growth during the forecast period.
- High cost of raw material such as maize, wheat and barley and processing can hamper the market growth.
- High cost encored with the natural vitamins is estimated to restrict the market growth.
- Many companies are advertising their products as a non-prescription product, which can be taken along with the OTC drugs, thereby creating new opportunities for the market growth.
Scope of the Europe Feed Vitamins Market Report
The report on the Europe feed vitamins market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Feed Vitamins 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 (Vitamins A, Vitamins B, Vitamins C, Vitamins E, and Others) and Animal Types (Ruminants, Poultry, Swine, Aquaculture, and Others)
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Geography
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Spain, The UK, Germany, France, Italy, Russia, 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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BASF SE; Archer Daniels Midland Co.; DSM Nutritional Products AG.; and Bluestar Addiseo Co.
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Europe Feed Vitamins Market Segment Insights
Vitamins E segment to hold a significant market share
On the basis of types, the market is divided vitamins A, vitamins B, vitamins C, vitamins E, and others. The vitamins A segment is expected to hold a key share of the market in the coming years, as it helps in regulating body functions and keeps body healthy. However, the vitamin E segment is anticipated to expand at a rapid pace during the forecast period, as it promotes good health. Moreover, the lack of vitamin E causes failure in the reproductive system. Alfalfa is a good source of vitamin E.
Poultry segment is anticipated to hold a large market share
Based on animal types, the market is segmented into ruminants, poultry, swine, aquaculture, and others. The ruminants segment is projected to constitute a major market share during the forecast period. High digestibility of starch in diet while maintaining the fiber effect of feed vitamins is increasing consumption among ruminants.
Moreover, the reduction of undegradable fraction of ruminal starch and increasing e efficiency of amylolytic ruminal flora are some of the major factors fueling the market growth.
The UK is estimated to account a major market share
On the basis of geography, the market is classified as Spain, the UK, Germany, France, Italy, Russia and Rest of Europe. Spain is expected to constitute a significant share of the market during the projected period owing to changing demographics and consumption of animal-sourced protein. Moreover, the consumption as well as production of natural vitamins is high in the country.
However, the market in the UK is anticipated to expand at a rapid pace during the forecast period due to growing consumption of nutrition rich products, high awareness, and increasing population.
Segments
The Europe feed vitamins market has been segmented on the basis of
Types
- Vitamins A
- Vitamins B
- Vitamins C
- Vitamins E
- Others
Animal Types
- Ruminants
- Poultry
- Swine
- Aquaculture
- Others
Geography
- Spain
- The UK
- Germany
- France
- Italy
- Russia
- Rest of Europe
Key Players
Competitive Landscape
Key players competing in the Europe feed vitamins market includes BASF SE; Archer Daniels Midland Co.; DSM Nutritional Products AG.; and Bluestar Addiseo Co.
Some of these players are engaging in business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market share.