London, June 23, 2021 (GLOBE NEWSWIRE) -- According to a new market research report titled “Feed Premix Market by Type (Combination Premixes, Vitamin Premix, Mineral Premix, Amino Acid Premix, Nucleotide Premix, Nutraceutical Premix), Form (Powder and Liquid), and Application (Ruminant Feed, Swine Feed, Aqua Feed) — Global Forecast to 2028’, published by Meticulous Research®, the feed premix market is expected to grow at a CAGR of 3.7% from 2021 to 2028 to reach $12.2 billion by 2028.
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Feed premix/premixtures are mixtures of feed additives or mixtures of one or more feed additives with feed materials or water used as carriers, not intended for direct feeding to animals. A premix is intended for incorporation in compound feeding stuff, feed materials, or water. The function of a premix is to optimize the mixing of feed additives in feeding stuff. The major factors driving the feed premixes market include feed premixes’ use as a single ingredient over multiple ingredients, increasing demand for compound animal feed, and increased awareness regarding the safety of meat products.
The strong demand for feed premixes in developing countries provides significant growth opportunities for feed premix manufacturers. However, the regulatory structure and intervention and technical problems during storage and handling procedures obstruct this market's growth to some extent.
The Impact of COVID-19 on the Feed Premix Market
The COVID-19 pandemic has severely impacted many economies around the globe. As a measure to control the spread of this disease and to avoid its associated consequences, governments across the globe announced partial or complete lockdowns, majorly impacting many manufacturing and service industries, including feed premixes.
The outbreak of COVID-19 is a moving target, but all signs point to an ongoing negative global economic outlook. The increased demand for animal feed across the globe is highly hampered by the COVID-19 pandemic, which resulted in supply chain disruption restricting the product trade. The most immediate threat to “business as usual” in the feed premixes industry lies with supply chain disruptions. While the virus has only begun to impact some regions, down-chain suppliers in key sectors are struggling to meet demand. This quickly became evident with micro-ingredients, such as vitamins and minerals; for instance, the current shortage of feed-grade L-threonine. The closure of factories and ports further strained supplies. For instance, countries such as Romania banned the export to non-EU countries, thereby creating severe demand-supply problems in the feed premixes industry.
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On the other hand, China, a major supplier of feed premixes, caused disruptions for global feed producers. Moreover, the supply of containers and vessels was also affected along with the transport of certain micro-ingredients due to China’s logistics issues. The Indian Government ordered the partial closure of its international ports, further disrupting feed premixes supply chain. Also, countries across regions are coping with the impacts of COVID-19, which is expected to hinder the feed premixes market to some extent in the next few years. This scenario has lowered the demand for feed premixes to some extent.
Key Findings in the Feed Premix Market Study
The feed premixes market is segmented based on type, form, application, and geography. The study also evaluates industry competitors and analyzes the market at the country level.
Based on type, the feed premix market is segmented into combination, vitamin, mineral, amino acids, nucleotide, fiber, nutraceutical, and other premixes. The combination premixes segment is estimated to account for the largest share of the overall feed premixes market in 2021. The large share of this segment is mainly attributed to the rise in consumption of compound feed, growing demand for vitamin and mineral-enriched foods, and increasing consumer awareness regarding pet nutrition. However, it is also expected to grow at the highest CAGR during the forecast period.
Based on form, the feed premixes market is segmented into powder and liquid. The powder segment is estimated to account for the largest share of the overall feed premixes market in 2021. The large share of this segment is mainly attributed to its advantages over liquid forms, such as better homogeneity, ease of handling, simple transport economics, and better stability of a premix.
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Based on application, the feed premix market is segmented into poultry feed, ruminant feed, swine feed, aquafeed, and other feed applications. The poultry feed segment is estimated to account for the largest share of the overall feed premixes market in 2021. The large share of this segment is mainly attributed to the large demand for poultry feed due to rising poultry meat consumption and poultry farming, especially in developing regions, such as Asia-Pacific and South America. However, the aquafeed segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the growing focus on balanced commercial diets that promote optimal fish growth and health, increasing global demand for fish and fish products, and rising growth of the aquaculture industry.
Geographically, the Asia-Pacific region is estimated to account for the largest share of the global feed premixes market in 2021. The large share of this region is primarily attributed to the growing compound animal feed industry, growing economy; increasing demand for pet food supplementation in emerging and developing countries including India, China, Indonesia, and Thailand; and rising investments from major players in the region. However, it is also expected to grow at the highest CAGR during the forecast period.
The key players operating in the global feed premix market are Koninklijke DSM N.V. (Netherlands), BASF SE (Germany), Archer Daniels Midland Company (U.S.), Cargill, Incorporated (U.S.), Nutreco N.V. (Netherlands), InVivo Group (France), Jubilant Pharmova Limited (India), Koninklijke Coöperatie Agrifirm U.A. (Netherlands), Dansk Landbrugs Grovvareselskab a.m.b.a. (Denmark), Phibro Animal Health Corporation (U.S.), Purina Animal Nutrition LLC (U.S.), Burkmann Industries Inc. (U.S.), Danish Agro a.m.b.a. (Denmark), and De Heus Voeders B.V. (Netherlands) among others.
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Scope of the Report:
Feed Premix Market, by Type
- Combination Premixes
- Vitamin Premixes
- Mineral Premixes
- Amino Acid Premixes
- Nucleotide Premixes
- Fiber Premixes
- Nutraceutical Premixes
- Other Premixes
Feed Premix Market, by Form
- Powder
- Liquid
Feed Premix Market, by Application
- Poultry Feed
- Ruminant Feed
- Swine Feed
- Aqua Feed
- Other Animal Feed
Feed Premix Market, by Geography
- Asia-Pacific
- China
- India
- Japan
- Australia
- Vietnam
- Philippines
- Indonesia
- Thailand
- Malaysia
- South Korea
- Myanmar
- Taiwan
- Rest of Asia-Pacific (RoAPAC)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe (RoE)
- Latin America
- Brazil
- Mexico
- Rest of Latin America (RoLATAM)
- Middle East & Africa
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