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Report
United States Feed Minerals - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2017 - 2029
Market Report I 2024-02-17 I 179 Pages I Mordor Intelligence
The United States Feed Minerals Market size is estimated at USD 0.79 billion in 2024, and is expected to reach USD 1.05 billion by 2029, growing at a CAGR of 5.86% during the forecast period (2024-2029).
- The US feed mineral segment accounted for 11.8% of the US feed additives market and 8.2% of the North American feed additives market in terms of value in 2022.
- In 2019, the market grew by 36.2% compared to the previous year, mainly due to the significant increase in feed production by 20.5% in the same period. Factors such as an increase in population, high consumption of feed, and rising feed exports drove the growth of production.
- Among animal types, ruminants hold a significant share in the usage of minerals, accounting for 56.2% of the US feed mineral market in 2022, followed by poultry (26.4%) and swine (15.8%).
- Poultry is the most common user of microminerals, accounting for 42.5% of the market value in the United States in 2022. Beef cattle are the leading ruminant micromineral users, accounting for 71.6% of the ruminant micromineral market in 2022.
- Macrominerals hold the largest share of the US feed minerals market, accounting for 89.1% of the US feed minerals market and 10.5% of the US feed additive market in 2022.
- Microminerals accounted for 10.9% of the United States feed minerals market in 2022, and it is expected to register a CAGR of 4.9% during the forecast period.
- The meat processing industry's demand for high-quality meat increased feed mineral consumption. Therefore, from 2017 to 2022, the macrominerals market grew by 73.1%.
- The market for mineral feeds has grown rapidly in recent years and is likely to increase further in the coming years. Because of rising per capita income and bulk meat output in the United States, the industry is estimated to expand at a CAGR of 5.9% during the forecast period.
United States Feed Minerals Market Trends
The United States poultry industry is one of the largest commercial food industry and increased consumption of meats and eggs is increasing the poultry production
- The US poultry industry is thriving due to the increasing demand for eggs and poultry meat in the commercial food industry and growing exports. The country is one of the largest egg producers and exporters globally, with the total egg exports in 2020 increasing by 9.3% to 3.5 billion eggs from the previous year and the export value growing by 2.4% to USD 189 million.
- The consumption of poultry meat in the United States has improved due to favorable prices, a rise in awareness of a high-protein diet, and the increasing demand for poultry meat. As a result, the poultry bird's headcount increased by 17.6 million in 2022 compared to the previous year. Raising chickens in small spaces and different environments makes poultry production more feasible and less expensive than beef and pork, attracting animal farmers with limited rearing areas to invest in poultry farms.
- However, the share of the United States is expected to decrease from 26% in 2021 to 24% in 2031 in terms of imports, which can affect the growth of the poultry feed market. The swine flu and trade disputes with China between 2018 and 2019 also contributed to the steady poultry population during the historical period, as animal farmers were reluctant to increase rearing.
- Despite these challenges, the increasing consumption of meat and eggs and rising exports, combined with the growing poultry population, are expected to drive the growth of the US feed additives market during the forecast period.
Presence of a large number of fish farms and feed mills is contributing to increasing feed production for aquaculture
- The aquaculture feed production in the United States increased by 4.1% in 2022 compared to 2017. The presence of a large number of feed mills, which totaled 6,232 in the United States, contributed to this increase. The per capita consumption of seafood also increased from 21.88 kg in 2018 to 22.26 kg in 2022.
- Fish has a major share among the various aquaculture feed, accounting for 83.2% in 2022. This increasing share can be attributed to the rising awareness about the benefits of fish in the human diet, high demand in the international market, expansion of the retail sector, and the presence of a large number of fish farms in the country. The majority of fish farms are located in Ohio, and the most consumed fish is catfish. This is because catfish can convert pellet feed into fish pounds.
- Shrimp accounted for 7.5% of the aquaculture feed market in 2022, as it is the other most consumed aquatic animal due to the rise in demand for seafood and its high protein content. However, the country depends on other countries for shrimp, which has affected its growth during the study period. On the other hand, other aquatic species have witnessed high growth in demand, as the demand for bivalves from restaurants has increased after COVID-19 due to their popularity as a main cuisine. The high number of feed mills and rising demand for fish and seafood with increasing feed production of aquaculture are expected to drive the growth of the US feed additives market during the forecast period.
United States Feed Minerals Industry Overview
The United States Feed Minerals Market is moderately consolidated, with the top five companies occupying 42.35%. The major players in this market are Alltech, Inc., Land O'Lakes, Phibro Animal Health Corporation, SHV (Nutreco NV) and Solvay S.A. (sorted alphabetically).
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 EXECUTIVE SUMMARY & KEY FINDINGS
2 REPORT OFFERS
3 INTRODUCTION
3.1 Study Assumptions & Market Definition
3.2 Scope of the Study?
3.3 Research Methodology
4 KEY INDUSTRY TRENDS
4.1 Animal Headcount
4.1.1 Poultry
4.1.2 Ruminants
4.1.3 Swine
4.2 Feed Production
4.2.1 Aquaculture
4.2.2 Poultry
4.2.3 Ruminants
4.2.4 Swine
4.3 Regulatory Framework
4.3.1 United States
4.4 Value Chain & Distribution Channel Analysis
5 MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
5.1 Sub Additive
5.1.1 Macrominerals
5.1.2 Microminerals
5.2 Animal
5.2.1 Aquaculture
5.2.1.1 By Sub Animal
5.2.1.1.1 Fish
5.2.1.1.2 Shrimp
5.2.1.1.3 Other Aquaculture Species
5.2.2 Poultry
5.2.2.1 By Sub Animal
5.2.2.1.1 Broiler
5.2.2.1.2 Layer
5.2.2.1.3 Other Poultry Birds
5.2.3 Ruminants
5.2.3.1 By Sub Animal
5.2.3.1.1 Beef Cattle
5.2.3.1.2 Dairy Cattle
5.2.3.1.3 Other Ruminants
5.2.4 Swine
5.2.5 Other Animals
6 COMPETITIVE LANDSCAPE
6.1 Key Strategic Moves
6.2 Market Share Analysis
6.3 Company Landscape
6.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and Analysis of Recent Developments).
6.4.1 Adisseo
6.4.2 Alltech, Inc.
6.4.3 Archer Daniel Midland Co.
6.4.4 BASF SE
6.4.5 Cargill Inc.
6.4.6 Kemin Industries
6.4.7 Land O'Lakes
6.4.8 Phibro Animal Health Corporation
6.4.9 SHV (Nutreco NV)
6.4.10 Solvay S.A.
7 KEY STRATEGIC QUESTIONS FOR FEED ADDITIVE CEOS
8 APPENDIX
8.1 Global Overview
8.1.1 Overview
8.1.2 Porter's Five Forces Framework
8.1.3 Global Value Chain Analysis
8.1.4 Global Market Size and DROs
8.2 Sources & References
8.3 List of Tables & Figures
8.4 Primary Insights
8.5 Data Pack
8.6 Glossary of Terms
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