Global Feed Vitamins Market - 2023-2030

Overview

Global Feed Vitamins Market reached US$ 3.45 billion in 2022 and is expected to reach US$ 5.37 billion by 2030, growing with a CAGR of 5.71% during the forecast period 2023-2030.

The global feed vitamins market has witnessed significant growth and transformations. As vitamins play a vital role in maintaining animal health, help in improving the productivity and growth of various animals such as livestock, poultry, aquaculture and pets. Consumers are more preferring vitamins feed as they are available in different forms. Hence, it leads to an increase in the global feed vitamins market.

Furthermore, many key players are focusing to produce a wide variety of products in order to attract larger consumer bases. For instance, in March 2020, Biochem a global manufacturer of animal feed launched a new product RumiPro, which is specially designed for ruminant needs. This product uses live yeasts in combination with hydrolyzed yeasts, leading to synergistic effects and stabilization of rumen conditions and performance. The most important benefits of the product include stimulation of microbial fermentation, stabilization of rumen pH level, enhanced fiber digestibility, and increased milk production. Such products help in increasing the market size.

Additionally, the demand for feed vitamins is increasing as the global population of animals is rising and also consumers and farmers are shifting from the shift from traditional farming methods to more industrialized and intensive production systems has led to greater reliance on formulated animal feeds, it lead to increase in global feed vitamins market.

Dynamics

Raising in Vitamin Deficiency and Disease in Animals

The increase in global vitamin deficiency and diseases in animals is significantly increasing the demand for the feed vitamins market, as farmers are opting for the greater formulation in animal feeds. vitamin supplementation in animal diets can help in improving the quality of meat, milk, eggs, and other products. Vitamins can also enhance the nutritional profile of feed products and help in reducing the risk of transmission of disease from animals to humans through food consumption.

Furthermore, many manufacturers are focusing to produce a wide variety of high-quality products in order to expand their market size and also help consumers to obtain high productivity. For instance, in February 2021, Kemin Industries launched a KemTRACE Chromium-OR. It is an organic-compliant chromium propionate feed ingredient for use in swine, cattle, broiler and horse diets. It helps in improving glucose utilization and reduces the negative impacts of stress for increased cellular energy and function. Hence such products can help in increasing the market size.

Increase in Demand for High-quality Meat

The demand for high-quality meat among consumers is increasing as awareness about the quality and safety of meat products is increasing among them, which has significantly influenced the nutritional diet of animals. Farmers are using the vitamins in the animal's feed as the vitamins are important for maintaining the quality of meat, including its color and texture. It also helps in promoting the overall health of animals, hence it leads to an increase in adoption rate.

Furthermore, many manufacturing companies are producing high-quality products which can help in increasing the meat quality. For instance, Adisseo has produced Microvit. It is a premix. The feed producers can achieve several benefits essential to maintaining livestock health by providing a high and consistent level of quality and bioavailability to animals and providing a Microvit Certification System (MCS). It offers our customers safety assurance while being constantly assured of its reliability. Hence, the production of such high quality products can help in driving the market.

High Cost of Raw Materials

The raw materials used in the production of feed vitamins can be high in cost as they are of high quality. The increased cost of production due to high raw material prices may lead to higher prices for animal feed vitamins in the market. The higher prices can affect the market as it limits to only smaller consumer bases. Hence, the higher prices can hamper the market growth.

Furthermore, the high cost of the product can be based on brand, quality of raw materials and others. For instance, in February 2020, Evonik increased its net price of Biolys (L-Lysine, Feed Grade 54.6%) worldwide by 18 % on average with immediate effect. Such higher prices can effect the adoption rate of feed vitamins which can cause declination in market growth.

Segment Analysis

The global feed vitamins market is segmented based on type, livestock, function, distribution channel, function and region.

Increasing Demand for Effective Feed Nutrition

Vitamin E segments hold the largest share in the global feed vitamins market. Farmers are opting for vitamin E-formulated feeds for animals as vitamin E serves as an antioxidant that helps in neutralizing the harmful free radicals in the body as they are responsible for increasing stress and other health issues. It also helps in improving the immune system, promotes muscle development and helps in improving the overall reproductive health of animals, it leads to an increase in the adoption rate of feed vitamins.

Furthermore, many manufacturers are producing high-quality products in order to help consumers and farmers to achieve a high productivity rate. For instance, BASF produced Lutavit E a high-quality synthetic vitamin E acetate, It is an essential feed additive, it is easy to add to premixes, base mixes, and complete feed for swine, poultry, cattle, and dairy cows. It is also used in a variety of pet care products, including top dog and cat food brands. Such high quality products can help in increasing the market.

Geographical Penetration

Raising in Poultry Farming in this region

Asia-Pacific has been a dominant force in the global feed vitamins market and its significance has only grown in the post-2020 era. Farmers in this region are shifting from traditional farming methods to industrialized nutritional formulated products such as vitamin feeds as they enhance reproductive health and improve the immune system which can help in increasing the disease resistance in animals. hence it can lead to an increase in the adoption rate of feed vitamins in this region.

Furthermore, the usage of feed vitamins is increasing as the demand for poultry farming is increasing in this region. For instance, according to the Department of Agriculture, Fisheries and Forestry report of 2023, in Australia the meat production value is $3.5 billion in 2022-23 which has increased to $3.6 billion in 2023-24.

Additionally, according to the same report, pork meat production is to be $1.7 billion in 2022-23 which has raised to $1.8 billion in 2023-24. The increase in animal-derived products such as meat can help in increasing the usage of vitamins in the feed, as the vitamin feeds can help in improving meat and bone development. Hence, the increased production rate can help in driving the market.

Competitive Landscape

The major global players in the market include: Archer Daniel Midland Co., Adisseo, Brenntag SE, DSM Nutritional Products AG, BASF SE, Vitablend Nederland B.V, Rabar Animal Nutrition, Vitafor Belgium and Watson Inc.

COVID-19 Impact Analysis:

The pandemic has brought a positive impact on the feed vitamins market. During the pandemic, the consumption and production of meat has been increased. For instance, according to the Australian Chicken Meat Federation report, the chicken meat production in 2020/21 is 1,292.4 million tons and the per capita consumption of chicken meat is 46.3kg/person. Such higher production has increased in adoption of feed vitamins which has increased the global feed vitamins market.

Russia-Ukraine War Impact Analysis

The ongoing conflict between Russia and Ukraine has disrupted the country's economy which had led to the shutdown of many manufacturing companies due to disruption in exports and imports, it lead to disruption in the supply chain and reduce adoption rate. Hence the war had shown a negative impact on global feed vitamins market.

By Type

• Vitamin A
• Vitamin B
• Vitamin C
• Vitamin D
• Vitamin E
• Vitamin K
• Others

By Livestock

• Poultry
• Broilers
• Layers
• Others
• Aquaculture
• Fish
• Shrimp
• Others
• Ruminants
• Beef Cattle
• Dairy Cattle
• Others
• Swine
• Others

By Formulation

• Dry
• Powder
• Pellet
• Others
• Liquid
• Others

By Distribution Channel

• Company Stores
• E-Commerce
• Hypermarkets/Supermarkets
• Specialty Stores
• Others

By Function

• Single Functioned
• Multi Functioned

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In September 2022 DSM acquired Prodap, a leading Brazilian animal nutrition and technology company. With this acquisition, the company combines technology offerings, consulting services, and specialized nutritional solutions to improve animal farming efficiency and sustainability.
• In July 2022 BASF invested in a vitamin A plant in Ludwigshafen, Germany, to enhance the vitamin A supply and strengthen its position as an ingredients partner for animal nutrition.
• In May 2023, Agromate Co., Limited, stated that the European Commission has regulated appropriately to extend the derogation from the prohibition of entry" for imports of feed-grade vitamin D3500 into the EU from China.

Why Purchase the Report?

• To visualize the global Feed vitamins market segmentation based on type, livestock, formulation, distribution channel, function and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of feed vitamins market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global feed vitamins market report would provide approximately 73 tables, 80 figures and 186 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies