New York, United States , June 12, 2024 (GLOBE NEWSWIRE) -- The Global Feed Premix Market Size is to Grow from USD 19.5 Billion in 2023 to USD 30.2 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 4.47% during the projected period.
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Premix is a mixture of feed additives or one or more feed additives combined with feed ingredients or water used as transporters that are not designed for direct feeding to animals. A rise in customer demand for and consumption of livestock-based commodities such as dairy and dairy-based products, meat, and eggs is expected to increase the usage of feed additives for farm animal development and growth. Both macronutrients and micronutrients are present in the feed premix. For an animal to grow and develop, it needs high amounts of macronutrients such as fat, carbohydrates, and other elements, but a small quantity of micronutrients including vitamins, minerals, and amino acids. Despite being commonly neglected, the micronutrient is the most important in animal nutrition. Micronutrients are substances that the body needs in small quantities, such as vitamins, minerals, and amino acids. The diets of animals do not contain the majority of these micronutrients. Due to this, people have begun giving animals feed premix, which contains enormous levels of every micronutrient. Furthermore, it is anticipated that an increase in consumer demand and consumption of livestock-based products, such as dairy, meat, eggs, and milk-based products, will promote the use of feed additives to support the ongoing growth and development of agricultural animals. Due to its high demand, cheap production costs, and lower product prices in both developed and developing countries, poultry meat is the main driver of the global expansion in meat production. Demand for animal-sourced protein in the form of meat, eggs, and milk is growing as people become more conscious of the role and qualities of food nutrients, particularly protein, in overall mental as well as physical growth and development. However, implementing commercial feed premixes may provide difficulties for small-scale and rural farmers for several reasons, including restricted access to distribution channels, limited financial resources, and inadequate understanding of the advantages of premix utilization. To overcome these adoption challenges, distribution networks, educational initiatives, and focused marketing plans are required. In order to guarantee product safety, effectiveness, and compliance with animal feed regulations, the premix feed sector conforms to strong regulatory regulations and quality certification standards.
Browse key industry insights spread across 250 pages with 110 Market data tables and figures & charts from the report on the “Global Feed Premix Market Size, Share, and COVID-19 Impact Analysis, By Type (Vitamins, Minerals, Amino Acids, Antibiotics, and Antioxidants), By Livestock (Poultry, Ruminants, Swine, Aquatic Animals, Equine, and Pets), By Form (Dry and Liquid), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.”
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The amino acids segment is anticipated to hold the highest share of the global feed premix market during the projected timeframe.
Based on the type, the global feed premix market is divided into vitamins, minerals, amino acids, antibiotics, and antioxidants. Among these, the amino acids segment is anticipated to hold the highest share of the global feed premix market during the projected timeframe. Amino acids are important components of feed premixes since they are necessary for building blocks for animal protein production.
The poultry segment is anticipated to hold the largest share of the global feed premix market during the projected timeframe.
Based on the livestock, the global feed premix market is divided into poultry, ruminants, swine, aquatic animals, equine, and pets. Among these, the poultry segment is anticipated to hold the largest share of the global feed premix market during the projected timeframe. The poultry meat sector experiences rapid growth, fueled by increasing demand, especially in India and Islamic countries.
The dry segment is anticipated to dominate the global feed premix market during the projected timeframe.
Based on the form, the global feed premix market is divided into dry and liquid. Among these, the dry segment is anticipated to dominate the global feed premix market during the projected timeframe. Dry feed premixes offer advantages such as cost-effectiveness, versatility, and ease of handling.
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Asia Pacific is expected to dominate the global feed premix market over the forecast period.
Asia Pacific is expected to dominate the global feed premix market over the forecast period. This region's growing population and rising disposable incomes are driving up demand for animal-derived products, requiring livestock producers to implement improved feeding practices. Rising demand for protein-rich foods due to increased knowledge of the benefits of protein consumption is driving market expansion, particularly in China. Requirements for livestock producers to follow include banning the use of antibiotics as growth boosters, commercialization of the livestock sector, cases of counterfeit meat and other products, and regulations prohibiting the use of antibiotics as growth boosters.
North America is predicted to grow at the fastest pace in the global feed premix during the forecast period. North America is a big market for feed premixes because of its large livestock sector and significant consumption of animal protein. The market has expanded gradually as a result of improvements in animal nutrition research and technology, as well as growing consumer demand for premium dairy, meat, and eggs. The feed premix market in North America provides services to a variety of livestock enterprises, including the pet, swine, cattle, poultry, and aquaculture sectors. Tailored premix formulations are needed to meet the dietary needs and production workflows of different industries, considering the different species, life stages, and production techniques.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Feed premix include Cargill, Incorporated, Archer Daniels Midland Company (ADM), BASF SE, Land O’Lakes, Inc., Koninklijke DSM N.V., Nutreco N.V., Purina Animal Nutrition LLC, Kemin Industries, De Heus Animal Nutrition, Alltech, Inc., Zinpro Corporation, Phibro Animal Health Corporation, BEC Feed Solutions, Godrej Agrovet Limited, and Agrofeed Ltd. and others.
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Recent Developments
- In December 2023, A small-molecule form of selenium called NanoSel was introduced by Avitech Nutrition with a focus on the animal feed sector.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Feed Premix Market based on the below-mentioned segments:
Global Feed Premix Market, By Type
- Vitamins
- Minerals
- Amino Acids
- Antibiotics
- Antioxidants
Global Feed Premix Market, By Livestock
- Poultry
- Ruminants
- Swine
- Aquatic Animals
- Equine
- Pets
Global Feed Premix Market, By Form
- Dry
- Liquid
Global Precision Swine Farming, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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