Portland, OR, Nov. 06, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global feed premix market generated $5.1 billion in 2021, and is projected to reach $11.4 billion by 2031, growing at a CAGR of 8.8% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $5.1 billion |
| Market Size in 2031 | $11.4 billion |
| CAGR | 8.8% |
| No. of Pages in Report | 232 |
| Segments Covered | Livestock, Type, Form, and Region. |
| Drivers | Increase in the standard of living among people |
| Increase in demand and consumption of livestock-based products such dairy and dairy-based products, meat, and eggs | |
| Opportunities | Rise in trend of animal-sourced protein among people |
| Surge in the global meat production along with low production cost | |
| Restrains | Government restrictions regarding using antibiotics in feed premixes |
| Growing trend of veganism |
COVID-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global feed premix market, owing to the presence of lockdowns in various countries across the globe.
- Lockdowns resulted in the closure of factories, including those of feed premixes, which adversely impacted the demand.
- In addition, lack of skilled workforce and strict import and export trade restrictions during the pandemic further aggravated the impact on the market.
- For instance, nations like Romania prohibited export to nations outside of the EU, producing severe demand-supply problems in the feed premix industry.
- These restrictions were imposed by the government so as to curb the spread of the virus during the pandemic.
- However, the market is expected to recoup soon with eased pandemic restrictions.
The report offers detailed segmentation of the global feed premix market based on livestock, type, form, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.
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Based on livestock, the poultry segment held the dominating market share in 2021, holding more than two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The aquatic animals segment, on the other hand, is expected to cite the fastest CAGR of 10.8% during the forecast period.
Based on type, the vitamin segment held the lion’s market share in 2021, holding nearly three-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The minerals segment, on the other hand, is expected to cite the fastest CAGR of 10.8% during the forecast period.
Based on form, the conventional segment held the largest market share in 2021, holding nearly 90% of the global market, and is expected to maintain its leadership status during the forecast period. The organic segment, on the other hand, is expected to cite the fastest CAGR of 9.9% during the forecast period.
Based on region, the market across North America held the dominating market share in 2021, holding nearly two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 10.6% during the forecast period.
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The key players analyzed in the global feed premix market report include Koninklijke DSM N.V., BASF SE, Cargill, Incorporated, SVH Holding N.V., Alltech, Inc., Royal Agrifirm Group, Archer Daniels Midland Company, AgroFeed Ltd., De Heus Voeders B.V., Kemin Industries, Inc., Novus International, Inc., Phibro Animal Health Corporation.
The report analyzes these key players in the global feed premix market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.
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About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
