Enjoy complimentary customisation on priority with our Enterprise License!
The animal feed vitamin market size is projected to increase by USD 613.84 million at a CAGR of 4.19% between 2023 and 2028.
The APAC animal feed vitamin market expects a robust growth rate, driven by the benefits derived from increased meat production in key countries like China, India, Japan, and Australia. The convenience and nutritional benefits offered by advanced technologies in animal feed additives further fuel the market's growth. This global trend aligns with consumer preferences for quality, protein-rich meat products, influencing the rising consumption of animal feed vitamins. As the industry responds to these evolving dynamics, market forecasts and analysis project a continued upward trajectory, reflecting the interconnectedness of economic investments, consumer demands, and global trends.
The Animal Feed Vitamin Market shows an Accelerated CAGR during the forecast period.
To get additional information about the market, Request Free Sample
Increasing focus on animal productivity and performance is the key factor driving market growth. Manufacturers are increasingly realizing the need for good nutrition to achieve economic efficiency in current animal husbandry procedures. Animal feeding vitamins are important components of well-balanced diets, contributing to faster growth rates, higher feed conversion ratios, and superior reproductive performance in cattle and poultry. Vitamin A, for example, helps with vision and immunological function.
Moreover, demand for animal-feeding vitamins is increasing as producers prioritize efficient and sustainable agricultural practices, reflecting a fundamental awareness of their role in ensuring the general health and performance of animals in the global agriculture market. Thus, the increasing focus on animal productivity and performance will spur the growth of the global animal feed vitamin market during the forecast period.
An increase in R&D expenditure is the primary trend shaping market growth. DSM and BASF have been actively involved in R&D for animal feed vitamins. Market players are investing in developing sustainable technologies to produce animal feed vitamins. They are investing in R&D to innovate and launch new vitamin products at low costs. Several market players have an in-house R&D division to come up with innovative products and sustainable technologies.
Moreover, the in-house R&D division trend is more prominent in North America, with diverse small-scale laboratories continuously emphasizing extensive research on animal nutrition. Thus, an increase in R&D expenditure will drive the growth of the global animal feed vitamin market during the forecast period.
Stringent regulations associated with the manufacturing of animal feed vitamins is a challenge that affects market growth. Market players are required to comply with stringent regulations and guidelines associated with animal feed manufacturing issued by various government bodies globally. Besides, in the US, the rules and regulations on animal food/feed products are governed by the provisions of the United States Federal Food, Drug, and Cosmetic Act (FD and C Act) and the regulations issued under its authority. For instance, the US FDA's Center for Veterinary Medicine (CVM) is responsible for the regulation of animal food (feed) products.
In addition, in Europe, the European Food Safety Authority, under the EU regulations, implements various guidelines for animal feed manufacturers, including vitamin manufacturers. Failure to adhere to these regulations leads to additional compliance costs, which hampers the production of animal feed vitamins. Thus, such stringent regulations may impede the growth of the global animal feed vitamin market during the forecast period.
The poultry segment was the largest segment of the global animal feed vitamin market in 2023. Increasing concerns about animal health and consumer preferences for a specific color of yolk and meat have driven the demand for poultry feed additives, including poultry feed vitamins. The global poultry feed vitamin industry is expected to register significant growth due to the global rise in poultry consumption. Influencing factors such as changing lifestyles, the rise in disposable income, and the increasing population are expected to have a positive impact on the demand for poultry meat and meat products. In addition, poultry comes under the white meat category, which is considered healthier for consumption when compared with red meat. Thus, such factors are expected to drive the growth of the market through the poultry segment during the forecast period.
The market share growth by the vitamin A segment will be significant during the forecast period. Vitamin A is a market leader as a product in the global animal feed vitamin market, driving significant growth of this segment. Vitamin A is an essential component that supports vision, immunological function, and reproductive success in animals. Growing livestock producer awareness regarding the importance of fortified animal feed contributes to the growing demand for Vitamin A.
The vitamin A segment was valued at USD 859.88 million in 2018.
For a detailed summary of the market segments Request for Sample Report
Moreover, prominent market players such as DSM and BASF provide novel and high-quality Vitamin A supplements for a wide range of animal species. The growing livestock sector, together with a focus on improving animal nutrition for optimal growth and production, establishes Vitamin A as a critical component in the global animal feed vitamin market, fostering continual innovations and market progress in the global animal feed vitamin market during the forecast period.
APAC is estimated to contribute 40% to the growth of the global market during the forecast period
Get a glance at the market share of various regions View PDF Sample
Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The increasing production of beef, veal, and chicken meat in APAC is one of the major factors that are expected to drive the growth of the regional market. Beef, veal, chicken meat, and pork meat production are increasing in the region. The significant increase in meat production is expected to drive the demand for animal feed vitamins in the region during the forecast period. Zhejiang Medicine and Growel Agrovet are some of the major players operating in the APAC animal feed vitamin market.
Furthermore, a significant rise in the number of animal feed mills and animal feed additive production facilities in the region, especially in countries such as India, is another major factor that is expected to drive the growth of the market in the region. For example, in August 2020, Cargill announced that it had invested USD 15 million in a new bio-industrial plant in India. India has been the world's largest producer of milk for more than 20 years. Therefore, increasing meat production, coupled with the rise in investments and expansions by market vendors in the region, is expected to drive the growth of the animal feed vitamin market in APAC during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market forecasting growth and analysis.
The Animal Feed Vitamin Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 10 market companies, including:
Alltech Inc., AMORVET, Archer Daniels Midland Co., BASF SE, Cargill Inc., Farmann GmbH, Growel Agrovet Pvt. Ltd., HELM AG, Koninklijke DSM NV, Land O Lakes Inc., Northern Nutrition, SALVANA TIERNAHRUNG GmbH, SHV Holdings N.V., Sinochem Group Co. Ltd., Total Feeds Inc., Vilofoss AS, Zeus Biotech Pvt. Ltd., and Zhejiang Medicine Co. Ltd.
Animal Feed Vitamin Market market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The animal feed vitamin market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Animal Feed Vitamin Market Scope |
|
Report Coverage |
Details |
Page number |
172 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.19% |
Market Growth 2024-2028 |
USD 613.84 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.03 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 40% |
Key countries |
US, China, Japan, India, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alltech Inc., AMORVET, Anfotal Nutritions Pvt. Ltd, Archer Daniels Midland Co., BASF SE, BEC Feed Solutions Pty Ltd, Cargill Inc., Farmann GmbH, Growel Agrovet Pvt. Ltd., HELM AG, Koninklijke DSM NV, Land O Lakes Inc., Northern Nutrition, SALVANA TIERNAHRUNG GmbH, SHV Holdings N.V., Sinochem Group Co. Ltd., Total Feeds Inc., Vilofoss AS, Zeus Biotech Pvt. Ltd., and Zhejiang Medicine Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
BUY NOW Full Report and Discover more
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.