I have seen this question being asked multiple times on the R mailing list, but still could not find a satisfactory answer.
Suppose I a matrix m
library("sos")
findFn("rowMin")
gets a hit in the Biobase package, from Bioconductor ...
source("http://bioconductor.org/biocLite.R")
biocLite("Biobase")
m <- matrix(rnorm(10000000), ncol=10)
system.time(rowMeans(m))
## user system elapsed
## 0.132 0.148 0.279
system.time(apply(m,1,min))
## user system elapsed
## 11.825 1.688 13.603
library(Biobase)
system.time(rowMin(m))
## user system elapsed
## 0.688 0.172 0.864
Not as fast as rowMeans, but a lot faster than apply(...,1,min)