The report "Water-Soluble Vitamin & Mineral Feed Supplements Market by Vitamin Type (Vit B Complex [B1, B2, B3, B5, B6, B9], Vit C), Mineral Type (P, K, Ca, Mg, Na, Fe, Zn, Cu, Mn), Livestock (Poultry, Swine, Ruminants, Aquaculture) - Global Forecast to 2022", The water-soluble vitamin feed supplements market is projected to grow at a CAGR of 7.24% from 2016, to reach a projected value of USD 4.39 Billion by 2022", is projected to grow at a CAGR of 4.76% from 2016 to reach USD 7.20 Billion by 2022.
The market has been gaining importance due to the increasing population of livestock, growth in consumption of livestock by-products, economic activity, organized livestock farming, and consumer awareness.
The Asia-Pacific region accounted for the largest market share in 2015 in the water-soluble vitamin feed supplements market. RoW is projected to grow at the highest CAGR for the next six years. The strong emphasis on the organized farming practices in the poultry, swine, and aquaculture industries have been the driving factors in these regions. The main factor driving this market is a vital role vitamin play to provide immunity against diseases, and for metabolism and coenzyme production of livestock.
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Factors such as government legislation on permissible limits have been limiting the possible options of feed sources to achieve optimum livestock weight and health and have been restraining the growth of the market. Regulatory control on the use of certain raw materials in animal feed in various countries has limited the range of feed supplements available for the formulators to develop. The sanction of government authorities is required for the manufacturing of feed supplements.
Although the water-soluble vitamin & mineral feed supplements market is a fragmented market, it has been turning into a dominant field of a large number of domestic manufacturers and suppliers. The key strategies adopted by the key companies are expansions and investments for increasing their presence in high-demand markets of Latin America and Asia-Pacific. Strategic acquisitions of regional players have helped the company in consolidation of its portfolio of approved products and active ingredients in both, developed and developing markets. Key players such as Alltech, Inc.(U.S.), Nutreco N.V. (Netherlands)ir, Royal DSM N.V. (Netherlands), DLG Group (Denmark), Invivo NSA (France), BASF SE (Germany), Archer Daniels Midland Company (U.S.), and Kemin Industries, Inc.(U.S.) collectively accounted for the largest share of the water soluble vitamin & mineral feed supplements market.
