Asia-Pacific Feed Minerals Market - Growth, Trends and Forecasts (2020 - 2025)

The Asia Pacific feed minerals market is projected to register a CAGR of 6.3%, over the forecast period (2020-2025). Minerals are additives included in the animal feed for optimal growth, development, overall health, and well-being, and for the prevention of diseases in the livestock. Essential trace elements and minerals that are not adequately produced in the body need to be added in the feed externally for better standards and quality of animal-derived products. Increasing industrialization of livestock production to meet the increasing demand for animal protein sources, especially in the emerging economies of Asia-Pacific, such as China and India, is driving the greater focus on optimum nutrition of farm animals. This trend is expected to provide robust growth to the feed minerals market in the region, over the forecast period.

Key Market Trends

Increasing Micronutrients Deficiencies

Micro-minerals occupy a major share of the feed minerals market in the region when segmented by type. Microminerals include chromium, cobalt, copper, fluorine, iodine, iron, manganese, molybdenum, selenium, and zinc. The analyses of pastures for micro minerals are needed periodically for healthy livestock and animals. Additionally, deficiency may lead to anemia and increased susceptibility to infections. Thus, this may further increase the demand for micro minerals in the feed industry. During intensive culture in countries, like Vietnam, fluctuating environmental and water quality conditions can lead to the development of stress situations, which can only be tackled by the inclusion of microelements present in minerals. Thus, this has led to the growing demand for minerals in compound feed used by farmers. These feed, including minerals, are used by farmers in pelleted form, as supplementary feeds. The companies active in the market are engaged in various product innovations to cater to the growing demand for micro minerals in the Asia Pacific region. Thus, the growing popularity of micro-mineral feeds may provide various opportunities for the minerals segment, during the forecast period.

Increasing Demand for High Value Animal Protein

The rising demand for high-value meat and dairy protein from health-conscious consumers is driving the feed minerals industry. Livestock production is one of the fastest-growing segments in the agriculture industry. The increasing demand for livestock products has been driving significant changes on the supply-side, aimed at improvements in livestock product yields. New capital-intensive technologies have raised the level of industrial production of cattle, poultry, and pig meat in production facilities across Asia-Pacific, especially in countries with land constraints. Moreover, the surging demand for environmentally safe and chemical-residue-free meat, meat products, milk & milk products, is emphasizing the need for increased productivity through feed minerals. Hence, these factors are further expected to drive the feed minerals market in Asia-Pacific, during the forecast period.

Competitive Landscape

The global feed minerals market is moderately consolidated, with few top global players dominating the market. However, as the Asia Pacific is the largest market for feed minerals in the world, many local companies have significant market share, thereby resulting in moderate competition among the brands. The major players in the market are Cargill, Inc., Nutreco NV, BASF SE, DSM Animal Nutrition, and Kemin Industries, among others. Focus on quality through extensive investment in product research and development was the most adopted strategy of the leading players in the region. The major investments are directed to product line expansions and innovating new products to retain the existing customer base.

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