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Boston, MA -- (SBWIRE) -- 06/02/2014 -- Feed Water-Soluble Vitamins & Minerals Market by Type [Water-Soluble Vitamins (Vitamin B and Vitamin C), Water-Soluble Minerals (Iron Sources, Zinc Sources, Copper Sources, Manganese Sources, Others)], by Livestock & Geography - Trends & Forecast up to 2019
Feed water-soluble vitamins and minerals refer to those nutritional additives in the animal feed that fulfill the animals' nutritional requirements while helping them in their growing, developing, and reproducing stages. Due to a number of functions-such as strengthening the bones of the animals and improving the immune system-they are gaining importance in the feed industry. This market is growing steadily due to the increasing awareness regarding animal nutrition and recent outbreaks of livestock diseases.
Europe and Asia-Pacific were the top two consumers of feed water-soluble vitamins and minerals in the world, having collectively accounted for more than 61% and 53% of the consumption of feed water-soluble minerals and feed water-soluble vitamins, respectively, in 2012. Asia-Pacific is estimated to be the fastest-growing market for feed water-soluble minerals, in terms of value. Growth is particularly high in emerging countries such as China, India and Japan, as these regions have high consumption of compound feed. The poultry industry accounted for the share of around 24% in the feed water-soluble vitamins, for the year 2013. The main restraint of the market is the increasing raw material cost. Leading manufacturers are focusing on the acquisition and expansion of businesses across regions and setting up new plants for increasing their production capacity.
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FEED VITAMIN B MARKET SIZE, BY TYPE, 2014 VS. 2019 ($MILLION)
Source: MarketsandMarkets Analysis
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