Feed Premix Market to See Major Growth by 2026

The global feed premix market size is predicted to grow at a CAGR of 6.2% between 2021 and 2026, reaching a value of $32.9 billion by 2026 from a projection of $24.3 billion in 2021. The global feed premix market is expected to grow due to various factors, including increasing demand for animal protein, rising awareness of animal nutrition and health concerns, technological advancements, and the adoption of intensive animal farming practices. As consumers become more conscious about the quality and safety of animal-derived products, the demand for feed premixes to enhance animal health and productivity is increasing. Advances in technology have led to the development of more sophisticated and effective feed premix products, which are expected to further drive the growth of the market.

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The market for the dry segment is projected to account for the largest share during the forecast period, by form

By form, the dry segment accounted for the highest market share as well as the highest growth rate in the global market due to the factors such as easy handling and storability, usage in a wide range of livestock applications, and lower manufacturing costs. Feed premixes in the dry form are easier to mix with feed and provide a longer shelf life than in the liquid form, due to which they witness high preference among feed manufacturers.

By livestock, the poultry segment dominated the global feed premix market

The poultry industry consists of four main areas of production—broiler, eggs, pullets, and breeders. It is a fast-evolving industry due to the rapid increase in demand for poultry meat, particularly in India and many Islamic countries. In these countries, the consumption of porcine and livestock meat (India) is projected to be low due to religious beliefs, which, in turn, increases the demand for poultry meat.

In addition, the global demand for poultry meat is further set to rise in the coming years due to the increased cost and reduced availability due to the rise in demand for beef and pig meat. Poultry, the most traded meat category, accounts for over 40% of the total meat trade. According to the FAO, global poultry meat production was nearly 111.8 million tons in 2015. Furthermore, the demand for poultry meat is projected to remain high in developing economies.

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Asia Pacific is the fastest-growing region during the forecast period in the global feed premix market

The key markets in the Asia Pacific region include China, India, Japan, Australia & New Zealand, Thailand, Vietnam, others, and the Rest of Asia Pacific. The Asia Pacific region accounted for the largest share of 35.6% of the global market in 2020, in terms of value. The market in the region is driven by the presence of a large livestock population (FAO 2016) and their growth rate. Furthermore, the region has witnessed an increase in the number of feed mills and feed production, particularly in India and Japan. This increase in the number of feed mills in the region reflects the growth in feed production. According to the Alltech Feed Survey of 2018, the region experienced a 7% increase in its feed production, from 356.5 million tons in 2012 to 381.1 million tons in 2017. The largest feed producer, China, contributes significantly to the region’s leading position, with Thailand and Indonesia being the emerging feed-producing countries, while India and Japan are demonstrating constant growth in feed production. According to the same source, among the top 20 feed companies in the world, 16 of them are based in the Asia Pacific region, which makes this a highly competitive market.