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Feed Premix Market
The Feed Premix Market is projected to expand at a robust CAGR during the forecast period (2020-2027).
The factors driving the growth of Feed Premix Market includes rise in the consumption of meat related products around the world, growing popularity of compound animal feed, commercialization of livestock farming activities and increasing awareness amongst farmers about providing adequate nutrition to the livestock. According to the report published by Statista, the Global Meat Market is calculated around USD 1,198.00 billion for 2022 and the market volume is projected to reach USD 176,529.8mkg by the end of 2027, growing at a CAGR of 7.78% over the forecast period (2022-2027), which will boost the market growth in the approaching years. Moreover, growing adoption of advanced technologies to manufacture feed premix products, favorable Government schemes for animal feed producers and rise in the launch of innovative products, increase in the industrial livestock production, are some of the additional factors supplementing the market growth. In addition, the increasing investments by leading players on research and development, rising disposable incomes and rapid urbanization, are further contributing to the market growth.
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However, the growth of Feed Premix Market is denied attributed to high cost of feed premix ingredients.
The prominent players operating in the market are Land O’Lakes, Inc., Phibro Animal Health Corporation, Devenish Nutrition, LLC., Koninklijke DSM N.V., Cargill, Incorporated, Archer-Daniels-Midland Company, Lexington Enterprises Pte. Ltd., BASF SE, AB Agri Ltd., and Nutreco N.V., among others.
Ingredients Type: Segment Analysis
Based on Ingredients Type, the Amino acids segment is predicted to hold the highest market share over the forecast period because amino acids contain proteins and polypeptides and reduces the chance of diseases in animals.
Livestock: Segment Analysis
Based on Livestock, the Poultry segment is anticipated to expand at a significant CAGR over the forecast period owing to rise in the pet adoption rates and increasing awareness about providing adequate nutrition to the livestock.
Form: Segment Analysis
As per the Feed Premix Market Trends, the Dry segment is expected to dominate the market during the forecast period because the dry premix feeds are easy to store, provides longer lifespan than liquid form and reduces the manufacturing costs.
Regional: Segment Analysis
According to the Feed Premix Market Forecast, the Asia-Pacific region is estimated to capture the largest market share during the forecast period. Growing demand for dairy based food products, increase in the number of aquatic and poultry animal farms, rise in the smartphone penetration rates, rapid urbanization and high population growth rates, are some of the important factors propelling the market growth in Asia-Pacific.
Market Segmentation
Global Feed Premix Market by Ingredients Type
Vitamins
Minerals
Amino Acids
Antibiotics
Antioxidants
Others
Global Feed Premix Market by Livestock
Poultry
Ruminants
Swine
Aquatic Animals
Equine
Pets
Global Feed Premix Market by Form
Dry
Liquid
Global Feed Premix Market by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
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