About this market
Growing demand for compound feed to drive growth in the market. With the increasing consumption of compound feed, the use of vitamin and mineral premixes to fortify compound feed has also risen. Many vendors have been offering compound feed products enriched with mineral and vitamin premixes for customers. analysts have predicted that the vitamin and mineral premixes market will register a CAGR of almost 5% by 2023.
Market Overview
Functional benefits of vitamin and mineral premixes
Malnourishment in animals, rising obesity in humans, weakening immune systems, and growth in geriatric population have raised the awareness among consumers about the nutritional benefits of vitamin and mineral premixes.
Rising cost of raw materials
The rising costs of raw materials, huge investment in R&D, and high expenditure on purchasing equipment are major challenges for the vendors.
For the detailed list of factors that will drive and challenge the growth of the vitamin and mineral premixes market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including Techman-Head Group and Brackett Aircraft Company the competitive environment is quite intense. Factors such as the rising demand for compound feed and the functional benefits of vitamin and mineral premixes, will provide considerable growth opportunities to vitamin and mineral premixes manufactures. Barentz, Cargill, Glanbia, Koninklijke DSM, and Union InVivo - Union de Coopératives Agricoles are some of the major companies covered in this report.