The North America feed vitamin market is estimated to reach USD 1.52 billion by 2021 from USD 1.42 billion in 2016 by growing at a CAGR of 1.39 %. North America vitamin feed the market stands after Asia Pacific and Europe. The US holds the largest share in the region followed by Canada. The dominance of US is because of its large geographical size, economy and favorable climatic conditions.
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Animal feed vitamins are given to the livestock for enhancing their diets. Deficiency of vitamins can cause several diseases along with the restricted growth of animals and vitamin feed fulfills the deficiency. These are given to the animals for improving their health and obtaining a good yield of products like meat, egg, and milk. Vitamin A, D, E and B are the major vitamins required through the feed.
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Market Segmentation
- By Vitamin Type
- By Livestock Type
- By Formulation
- By Function
There are various factors which drive the market such as awareness regarding health, high income, the rise in demand for high-quality meat and many others. There is a shift observed in consumers towards these types of feed which is also driving the market. The only restraint for the market is the high cost of these feeds as the raw materials are also costly.
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Key players in the market are S.A.S, Aland BASF SE, CSPC Pharmaceutical Group Ltd., Zhejiang Medicine company Ltd., Pharmative LLC, North China pharmaceutical corporation, Archer Daniels Midland company, Evonik industries, and DSM N.V.
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