The North America feed vitamins market size is projected to expand at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to rising animal production in the North America.
The feed vitamins are a supplement or feed additive used in the animal feed for excellent growth, overall health, development of animals, and for preventions of diseases in the livestock. The vitamins might oscillate digestibility, hygiene, and effect on intestinal health. It is essential that the right amount is dosed for different species at different growth phases to ensure proper animal growth, reproduction, and immune defense.
The Covid-19 pandemic affected the demand and supply of the North America feed vitamins market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
• Increasing awareness and demand for hygienic, healthy, and nutritious products in this pandemic is estimated to drive the North America feed vitamins market.
• Increasing feed production and growing animal health concern is projected to drive the market during the forecast period.
• Owing to high consumption of meat in the North American countries is projected to drive the market during the forecast period.
• Increasing prices of raw materials which is used to make the feed vitamins hampered the growth of feed additives market.
• The complications associated with feed vitamins procedure are hindering the North America feed Vitamins market.
• Increasing number of meat consumption, growing meat production business, and changing food habits of customers are fueling the North America feed vitamins market during the forecast period.
Market Segment Insights
The vitamin A segment is expected to grow at a rapid pace
Based on the types, the North America feed vitamins market is divided into vitamins A, vitamins B, vitamins C, vitamins E, and others. The vitamins A segment is expected to grow at a rapid pace during the forecast period because the deficiency of vitamin A in adult hens reduced inbreeding and egg production, birds decrease rate of hatchability. This deficiency overcome by adding vitamins into feed. However, the vitamin D segment is anticipated to hold a key market share during the forecast period because the vitamin D helps body to absorb calcium, which is important for bone health.
The swine segment is projected to expand at a considerable CAGR
On the basis of animal types, the market is segmented into ruminants, poultry, swine, aquaculture, and others. The swine segment is projected to expand at a considerable CAGR during the forecast period owing to increasing production of pig feed up to 61 million metric tons in the North America. However, the poultry segment is anticipated to hold a key share of the market in the coming years due to rising demand for animal protein sources and technological developments.
United States is anticipated to constitute a key market share
In terms of geography, the North America feed vitamin market is classified as United States, Mexico, Canada, and Rest of North America. The United States is anticipated to constitute a key market share during the forecast period due to high consumption of poultry meat in the country. A per capita consumption of meat was more than 98 pounds, in 2019 according to the National Chicken Council. Further increasing consumption, production and expenditure on meat in the country is expected to drive the market.
Key players competing in the North America feed vitamins market include Cargill Inc. (Provimi North America); Purina Animal Nutrition LLC.; DSM Nutritional Products AG; BASF SE; Burkmann Industries, Inc.
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