Newark, April 22, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 13.1 billion in 2023 Feed Premixes Market will reach USD 21.7 billion by 2033. A complex combination of a few feed additives or nutrients, such as vitamins, minerals, antioxidants, amino acids, and antibiotics, is called a feed premix. These premixes are combined with feed ingredients to improve the nutritional value of animal feed and give animals vital micronutrients. Due to the growing demand for compounded animal feed and growing awareness of livestock animal welfare, there is a major global increase in the need for feed premixes. The feed premix market has grown tremendously as a result of these causes.
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Key Insight of the Feed Premixes Market
Asia Pacific is anticipated to expand at the fastest CAGR of 13.1% over the projection period.
Asia Pacific is expected to grow at the fastest CAGR of 13.1% over the forecast period. A sizable and varied livestock sector, encompassing aquaculture, swine, cattle, poultry, and other livestock species, is found throughout the Asia-Pacific area. Increased demand for animal protein, expansion in the livestock industry, and demand for feed premixes are being driven by factors such as rapid population growth, urbanization, rising income levels, and changing dietary preferences. Additionally, the Asia-Pacific region is becoming more urbanized and wealthy, which is increasing the consumption of dairy, meat, and eggs. Because of this, there is an increasing need for feed premixes to maximize animal nutrition and performance as well as efficient and sustainable animal production methods to meet the growing demand for premium animal protein.
In the Feed Premixes market, the amino acid segment is anticipated to expand at the highest CAGR of 12.3% over the projection period.
The amino acid segment is anticipated to expand at the highest CAGR of 12.3% over the projection period. In order to maximize growth performance, feed efficiency, and protein consumption, it is imperative that animal diets achieve a balanced amino acid composition. Nutritionists and feed manufacturers can carefully manage the amino acid content of feed formulations by using feed premixes that contain amino acids. This guarantees that animals receive the necessary levels of essential amino acids for maximum health and production. Additionally, the amino acids utilized in feed premixes can come from a variety of sources, including synthetic sources such crystalline amino acids and amino acid derivatives as well as naturally occurring protein-rich foods like fishmeal, soybean meal, and meat and bone meal. Because crystalline amino acids are so highly refined, they may be precisely added to premix formulas to fulfill the needs of individual animals.
In the Feed Premixes market, the poultry segment is anticipated to expand at the highest CAGR of 12.6% over the projection period.
The poultry segment is anticipated to expand at the highest CAGR of 12.6% over the projection period. Poultry feed premixes are frequently tailored to the dietary requirements of distinct production phases, such as layers' varied egg-producing stages and broilers' starter, grower, and finisher diets. A number of variables, including age, breed, genetic potential, production objectives, and environmental conditions, could affect a formulation. Additionally, optimizing feed conversion ratios, profitability, and production efficiency are top priorities in the chicken sector. Feed premixes help achieve these objectives through providing balanced nutrition to chicken, encouraging uniformity, efficient growth, and high-quality carcasses in broilers, and maintaining high levels of egg production and quality in layers.
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Market Dynamics
Driver
Producers of livestock are under pressure to retain profitability while lowering production costs and increasing feed efficiency. Feed premixes aid in improving feed conversion ratios, minimizing feed waste, and optimizing nutrient usage, all of which help producers operate more profitably and efficiently. Additionally, as the aquaculture and livestock sectors grow, especially in emerging economies, there is an increasing need for feed premixes to feed the expanding populations of fish, poultry, and cattle. Growing investments in technology infrastructure and animal production infrastructure support market expansion.
Opportunity
Interest in feed additives made from natural sources is being driven by rising customer demand for organic and sustainably sourced animal products. To satisfy the demands of consumers who care about the environment, manufacturers can profit from this trend by creating premix formulations using organic and plant-based ingredients as well as sustainable sourcing techniques. Additionally, partnering with colleges, research centers, and technology companies helps hasten product development and innovation in the feed premix sector. Establishing strategic relationships facilitates the acquisition of knowledge, assets, and innovations that can propel product uniqueness, market growth, and a competitive edge within the sector.
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Some of the major players operating in the Feed Premixes Market are:
• Koninklijke DSM N.V.
• Nutreco N.V.
• Cargill
• Archer Daniels Midland Company
• BEC Feed Solutions
• DLG Group
• Charoen Pokphand Foods PCL
• Land O'Lakes
• AB Agri Ltd.
• Phibro Animal Health Corporation
• KG Group
• Devenish Nutrition LLC.
• Lexington Enterprises Pte Ltd.
• Agrofeed Ltd.
Key Segments cover in the market:
By Ingredient
• Vitamins
• Minerals
• Amino Acids
• Antibiotics
• Antioxidants
• Others
By Livestock
• Poultry
• Ruminants
• Swine
• Aquatic Animals
• Equine
• Pets
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