Press release
Global Feed Vitamin market is projected to reach USD 8.89 billion by 2021
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Majorly there are four Vitamins which are included in the animal feed. Vitamin A is mostly lacking in the animals which is essential for growth, reproduction and milk production. Vitamin D is abundant in animals and is required to consume the calcium and phosphorus present. Vitamin B group is generally not required for the livestock as it gets synthesized in their rumen but young calves and monogastric animals need it. Vitamin E is necessary for the prevention of paralysis and also for hatching of eggs. These feeds are used by poultry and dairy farmers.
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Feed vitamins have been considered very essential for all livestock which drives the animal feed market. Increasing health concerns due to disease outbreak in livestock and increase in demand of high quality meat are driving the market. High cost of processing and raw materials is hindering the growth of the market.
Market Segmentation
By Vitamin Type
• Vitamin A
• Vitamin B
• Vitamin C
• Vitamin D
• Vitamin E
• Vitamin K
By Livestock Type
• Swine
• Ruminants
• Poultry
• Aquatic Animals
• Others
By Formulation
• Liquid
• Dry
• Others (Powder, Pellet)
By Function
• Single Functioned
• Multi Functioned
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Geographically the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. Asia Pacific leads the market with highest number of shares and is likely to be the fastest growing region as well. Europe is the second largest market. China is the world’s largest producer and consumer of vitamin feeds due to higher disposable incomes, increasing middle class population and changing personal health perception.
This market is dominated by the companies like S.A.S, Aland BASF SE, CSPC Pharmaceutical Group Ltd., Zhejiand Medicine company Ltd., Pharmative LLC, North China pharmaceutical corporation, Archer Daniels Midland company, Evonik industries and DSM N.V.
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