Feed Vitamins Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Feed Vitamins Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The Global Feed Vitamins Market is projected to register a CAGR of 4.5% over the forecast period (2022-2027).

The COVID-19 pandemic disrupted the working of several markets, including the feed vitamins market. The pandemic affected the manufacturing process and supply chain networks, resulting in major losses for companies. It has impacted the feed industry severely, as it led to the shutdown of many feed companies due to the lockdown restrictions. With feed companies being shut down, it has subsequently led to a decrease in demand for vitamins. The industry incurred large net losses due to a sharp decline in demand, realization, and profitability. As the restrictions were relaxed, the market for feed additives witnessed a slight increment.

The drivers identified in this market are the industrialization of the livestock industry, expansion of the animal meat market, and changing demographics. The Asia-Pacific region accounts for the largest share of the global market. The market in the region is driven by the presence of a large livestock population and their growth rate. Over the short term, disease outbreaks are fuelling the vitamin market. For instance, vitamin A is important for preventing growth disorders in young animals, while its epithelial protective function has great importance in older animals. This resulted in the increased inclusion of vitamins in the feed. Key players like BASF SE, Adisseo, and DSM are increasingly investing in the development of new vitamin-based products and expanding their presence into emerging markets.

Feed Vitamins Market TrendsNeed for Improving Animal Productivity

There is a need to increase and improve livestock product yields due to the growing demand for livestock products. The inclusion of various vitamins is necessary for ruminants, as animals become more productive. Therefore, livestock producers typically use feed additives, such as vitamin E to increase the antioxidant capacity of animals and reduce economic losses. Vitamin E is an antioxidant that is vital for normal neurological functions. The importance of vitamins in pig feeds is to make pigs grow healthier and faster. Carbs and protein are not the only feed ingredients responsible for weight gain. Vitamins and minerals also help in the absorption and utilization of the feed nutrients so the pigs can have healthy growth and are needed in swine reproduction. Feeding high levels of vitamin E to pigs helps improve pork quality. Deficiency of vitamin E leads to encephalomalacia disease in the chicken, exudative diathesis in young birds, and muscular dystrophy. Muscle dystrophy disease causes the degeneration of muscle fibers, affecting areas key for meat production, including the breast and legs. Furthermore, the vitamin requirement greatly depends on the physiological structure, age, health, nutritional status of livestock, and function, such as meat production or laying eggs in poultry birds. Higher levels of vitamins A, D3, and E are needed in breeders' diets than for broilers. The inclusion of Vitamins at the optimum level has shown increased growth, feed efficiency, and oxidative stability of meat in broilers. Vitamins aid in better resistance to stress conditions. The market is driven majorly by Brazil, United States, India, and China. However, emerging economies are likely to be the fastest adopter of supplements during the forecast period, which will boost the feed vitamins market during the forecast period.​

Asia Pacific Dominates the Market

The Asia-Pacific region accounts for the largest share of the global market. The market in the region is driven by the presence of a large livestock population and their growth. The increasing number of feed mills is driving the growth of the market in the region. Livestock feeding in Asia-Pacific is highly dependent on agricultural products like maize, sorghum, soybean meal, groundnut meal, and rice bran. However, with the rising livestock animal health standards and the subsequent large-scale adoption of compound feed, several vitamins, like A, D, E, K, and B, are increasingly being included in livestock diets across the region. Therefore, the increasing inclusion of vitamins by livestock producers, coupled with an increase in the number of feed mills, is likely to significantly boost the feed vitamins market over the coming years.

Feed Vitamins Market Competitive Analysis

The global feed vitamin market is highly consolidated. The active players compete on the basis of product quality and promotion and focus on their strategic moves to hold larger market shares. Companies are investing heavily to develop new products and collaborating with and acquiring other companies. This factor is expected to increase its market shares and strengthen R&D activities. Companies like BASF SE, Adisseo, DSM, and Zhejiang Medicine Co. Ltd are the major players in the global feed vitamins market.

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