Farm Minerals Market Outlook
Farm minerals are mixed feed for farm animals that comprises nutritious minerals with enhanced vitamins, flavoring agents, medical ingredients and facilitating agents. Farm minerals are provided to livestock to manage their well-being. Farm minerals contain around 40% crude ash due to which farm minerals feed comprises liquid mineral feed which contains vitamins and other required minerals. Farm minerals are widely used in various functions such as contraction of muscle, managing acid-base balances, enzyme stimulation and proper development of bones. Farm minerals are the supplements added in the animal feed for the proper development of the farm animals. Important elements that are not formed insufficient amount in the animal’s body due to which additional minerals need to add in the animal feed. High protein content and high-quality meat are preferred by the consumers due to which the demand for farm minerals is increasing. Rising demand for farm minerals and an increasing number of small, medium and large scale manufacturers across the world are the reasons for growing the intensive competition in the farm minerals market. To sustain the position in farm minerals market companies are manufacturing high-quality farm minerals with multiple benefits.
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Increasing Consumption of Meat & Dairy Products Is The Major Driver For Farm Minerals Market:
The increasing meat consumption helping to increase the growth rate of farm minerals. The meat processing industries are focusing on increasing their meat production capabilities. The companies are investing in research and development to produce innovative and unique formulations. Increasing per capita income in developing countries is significantly contributing to the growth of farm minerals market. Increasing infectious diseases to livestock is a serious issue which is hampering the meat-related industries and consumers became conscious about the quality of raw materials in their end products due to which the sell of meat products is decreasing. Consumers prefer excellent quality and service due to which manufacturers are concentrating the quality of end products for which they require proper well-being of livestock due to which the demand for farm minerals is increasing. The consumption of dairy products is increasing widely which is a major driver for the farm minerals market. For the high-quality dairy end product, the output from farm animals plays an important role. The awareness about mindful living and nutritious food help to boost the farm minerals market. Nowadays consumer prefers organic products which are increasing demand for organic farm minerals as compared to inorganic farm minerals.
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Farm Minerals Market: Regional Analysis
North America & Europe have major market share in farm minerals market. In Europe, Germany & U.K showed robust growth in the farm minerals market. For the Asia Pacific it is expected to have a higher growth rate in farm minerals market in the forecasted period. There is a continuous requirement of nutritious farm minerals feed to animals to produce high-quality yield from animals. Changing food habits and rising population also helping to expand the farm minerals market. The increasing awareness of nutritious food and healthy living helping to increase the growth rate of farm minerals. The increasing demand for dairy products and meat products boosting the demand for farm minerals market. Latin America & South Africa have shown moderate growth rate in farm minerals market.
Farm Minerals Market: Key Participants
- Purina Animal Nutrition LLC
- Mole Valley Farmers
- Brilliant Bio Pharma Private Limited (BBPL)
- Nutreco N.V.
- Kay Dee Feed Company
- Kemin Industries, Inc.
- Pancosma S.A.
- Novus International
- Mercer Milling Company
- Cargill group
- Ranch-Way Feeds
- Kent Feeds
- Kalmbach Feeds, Inc.
- Josera Gmbh & Co. Kg