Water-Soluble Vitamin and Mineral Feed Supplements Global Market Report 2024

The water-soluble vitamin and mineral feed supplements market has grown rapidly in recent years. It will grow from $5.3 billion in 2023 to $6.05 billion in 2024 at a compound annual growth rate (CAGR) of 14.1%. The historical period's growth can be ascribed to an emphasis on animal nutrition and welfare, the increase in intensive farming practices, the global expansion of animal husbandry practices, awareness regarding nutritional deficiencies, and endeavors to enhance feed conversion ratios.

The water-soluble vitamin and mineral feed supplements market is expected to see rapid growth in the next few years. It will grow to $9.81 billion in 2028 at a compound annual growth rate (CAGR) of 12.9%. The forecast period's growth can be credited to the increasing demand for sustainable animal farming, global initiatives for preventing animal diseases, improved formulations for monogastric animals, a heightened focus on animal well-being and stress reduction, and the creation of fortified functional feeds. Prominent trends expected in the forecast period encompass innovations in delivery methods, the incorporation of immune-boosting ingredients, the application of nanotechnology in feed supplements, technology-driven feed management systems, and specialized formulations for monogastric animals.

The anticipated surge in the water-soluble vitamin and mineral feed supplements market is expected to be driven by the increasing global population of livestock. Livestock, comprising animals raised for purposes such as use, pleasure, or profit, particularly on farms, includes cattle, hogs, horses, poultry, sheep, and small animals. Agricultural producers engage in breeding and raising livestock, providing them with water-soluble vitamin and mineral feed to meet their nutritional needs, including promoting healthy bone development and maintaining reproductive efficiency. For example, Eurostat reported in March 2023 that Italy's pig population grew by 330,000 heads, a 4% increase from the same period in 2021. Similarly, Sweden saw a 3% increase, or 50,000 heads, in its pig population during the corresponding period. Overall, in May 2022, the European Union boasted a substantial livestock population, including an estimated 142 million pigs, 76 million cattle, 60 million sheep, and 11 million goats. Consequently, the rising global livestock population is a key factor propelling the water-soluble vitamin and mineral feed supplements market forward.

The increasing consumption of meat is also expected to drive the growth of the water-soluble vitamin and mineral feed supplements market. Meat consumption involves the acquisition, preparation, and ingestion of animal flesh as food from various sources. Water-soluble vitamins and minerals are pivotal in maintaining the health and productivity of animals, influencing the quality and quantity of meat produced. According to the Organization for Economic Co-operation and Development, global beef and veal consumption is projected to rise by 1% from 71.4 thousand tons in 2021 to 72.14 thousand tons in 2023. Additionally, global poultry meat consumption is expected to increase by 1.16%, growing from 133.6 thousand tons in 2022 to 135.2 thousand tons in 2023. Hence, the escalating meat consumption is a significant driver for the growth of the water-soluble vitamin and mineral feed supplements market.

A prominent trend gaining traction in the water-soluble vitamin and mineral feed supplements market is the emphasis on product innovation. Key players in the market are introducing inventive mineral feed supplements to maintain their market standing. For instance, in October 2021, Boehringer Ingelheim International GmbH, a Germany-based pharmaceutical company, unveiled Bovikalc Dry, an oral mineral supplement designed to enhance the comfort and well-being of dairy cows during the critical dry-off period, which occurs 45 to 60 days before the delivery of the next calf. This groundbreaking product, the first of its kind introduced to the US market, effectively reduces milk production in cows during the dry-off phase, preventing milk accumulation and udder swelling and ensuring a more comfortable dry-off experience. Bovikalc Dry complements BOVIKALC, an oral calcium supplement that has been part of Boehringer Ingelheim's product range for many years.

Major players in the water-soluble vitamin and mineral feed supplements market are actively engaged in the development of advanced nutritional supplements, including liquid formulas, as a strategy to gain a competitive advantage. Liquid formulas, a type of dietary supplement where nutrients are delivered in liquid form, are gaining popularity over more conventional forms such as capsules, tablets, or powders. For instance, in August 2021, Bio-Vet Inc., a US-based provider of animal health and direct-fed microbial (probiotic) products, introduced BaseLyte Liquid formulas. This ready-to-use electrolyte supports hydration, electrolyte balance, and overall health in animals of all ages and species. The product includes water-soluble B vitamins lost during dehydration and alkalizing chemicals to help calves control acidosis during diarrhea.

In October 2021, Koninklijke DSM N.V., a Netherlands-based company specializing in the production and sale of various nutritional products, acquired First Choice Ingredients for $0.45 billion. Through this acquisition, Royal DSM aims to leverage First Choice Ingredients' technology, expertise, and customer relationships in the animal feed industry. First Choice Ingredients, a US-based manufacturer, is known for its production of water-soluble vitamins and mineral feed for the animal feed industry.

Major companies operating in the water-soluble vitamin and mineral feed supplements market report are Alltech Inc., Nutreco NV, Koninklijke DSM NV, Neovia Group, InVivo NSA, BASF SE, Archer Daniels Midland Company, Kemin Industries Inc., Bluestar Adisseo Co., Lonza Group AG, Bayer AG, Blackmores Limited, China National Chemical Corporation, Sanofi S.A., Bee Health Limited, DLG Group, Cargill Incorporated, Novus International Inc., Bioiberica S.A.U., Pancosma S.A., Zinpro Corporation, QualiTech Corporation, Nutriad International NV, VDS Pharma Animal Health B.V., Lallemand Animal Nutrition, Provimi Holding B.V., Biomin Holding GmbH, Trouw Nutrition International B.V., WelBloom Biotech Co.

Asia-Pacific was the largest region in the water-soluble vitamin and mineral feed supplements market in 2023. Middle East is expected to be the fastest-growing region in the global water-soluble vitamins and minerals in feed supplements market during the forecast period. The regions covered in the water-soluble vitamin and mineral feed supplements market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the water-soluble vitamin and mineral feed supplements market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of water-soluble vitamins and mineral feed supplements encompass vitamin B1, vitamin B2, vitamin B3, vitamin B5, vitamin B6, vitamin B9, vitamin C, and other related vitamins. Vitamin B2 is a critical B vitamin essential for maintaining optimal health. Mineral components include potassium, calcium, phosphorus, magnesium, sodium, iron, zInc., copper, manganese, and others, catering to applications in poultry, swine, ruminants, aquaculture, and various other contexts.

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The water-soluble vitamin and mineral feed supplements market consists of sales of water-soluble vitamins including vitamin B7 and vitamin B12 as well as minerals including selenium, iodine, and chloride. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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