Meat processing industry is faced with the rising demand for high-quality meat, which is likely to push for the consumption of minerals feed. Increased consumption of mineral feed is then expected to give impetus to the global mineral feed market during the forecast timeframe.
Minerals are those supplements that are added to the animal feed for the purpose of overall health, development, well-being, and optimal growth. It also helps in the prevention of diseases in the livestock. Minerals and essential trace elements that are not sufficiently produced by the animal body must be added to the feed externally for better quality and standards of animal-derived products.
Transparency Market Research offers a 360-degree view of the global mineral feed market in its latest report on the market. Apart from market dynamics, it also analyzes across the profiles of renowned companies that are operating in the global mineral feed market.
Concerning recent developments, the global mineral feed market manifest the following moves in the market
- In 2017, Cargill Group acquired the animal feed business of Southern States Cooperative, Inc. The latter is based out of Richmond, United States. This strategic move will assist the company to serve its customers much better in the eastern United States. This acquisition is of much significance to the growth strategy of Cargill Feed and Nutrition.
Brilliant Bio Pharma Private Limited (BBPL), Purina Animal Nutrition LLC, Cargill group, Kemin Industries, Inc., Kay Dee Feed Company, and Mercer Milling Company, are some of the leading companies in the global mineral feed market.
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The following factors are expected to propel the growth of global mineral feed market:
Thanks to the expanding dairy and meat industry worldwide, the global mineral feed market is derives much of its traction from there. Many vitamins and minerals, such are vitamin E, iodine, phosphorus, vitamin A, zinc, calcium, salt and others are added to mineral feeds to improve the health of the livestock.
The livestock industry has witnessed substantial changes in the last decade. The growth in its demand is fulfilled by production of commercial livestock and its related food chains. In many of the developing countries, such as India, Japan, and China livestock keeping has been a multifunctional activity. Besides, use of mineral feed augments water retention in livestock, thereby improving the quality of meat and mass.
In the global mineral feed market, the Asia-Pacific region is poised for fast-paced growth in the years to come, in terms of both consumption and production of animal-based products. Besides, industrialization of the segment, the use of mineral feed is bound to grow.
The developing countries of Asia, such as India, China are forecasted to offer impressive growth opportunities for the global mineral feed market. Industrialization of the processed meat, feed, and livestock industry has made the usage of mineral feed mandatory. Mineral feed acts as feed conditioner, nutrient enhancer, and supplement to provide the animal with all the necessary components for optimal growth. With the expansion of the size of the global mineral feed market, the usage of feed mineral supplements is becoming more of a necessity for the retention of animal growth and health.