The feed premix market is experiencing robust growth due to increasing demand for quality animal nutrition and improved livestock health. Advancements in animal husbandry practices, rising awareness of feed additives’ benefits, and the expansion of the livestock industry are driving the market’s upward trajectory. Continuous research and innovation further fuel this growth.
The feed premix market was estimated to be worth USD 8.3 billion in 2022 and is anticipated to increase at a CAGR of 3.3% from 2022 to 2032, when it is expected to be worth USD 11.5 billion. According to recently released market analysis data from Future Market Insights, the demand for feed premix is expected to expand by 3.1% Y-o-Y in 2022.
Feed premix is a mixture of some certain complex compounds such as minerals, vitamins, and amino acid in animal feeds so as to rapidly enhance their growth and development within a short period. Feed premix contains both the micro and macro nutrients. Macronutrients are those nutrients needed in large quantity (such as carbohydrates, and fat) while micronutrients are those nutrients needed in small quantity (such as vitamins, amino acids, and minerals). Both nutrients are required for the development of an animal.
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However, the mirconutrient is the most essential but usually absent in animal feeds. Therefore, the need for production of feed premix arose. Farmers are hastening the growth of their livestock by feeding with feed premix and this will raise their income thereby increasing the demand for feed premix in the global market.
With the increase in demand for livestock, farmers are shifting towards the provision of superior quality feed that can enhance their livestock growth.
Feed Premix Market Driven by Consumers’ Demand for High Value Animal Protein
The rise in demand for livestock protein products such as milk, meat, and others are pressurizing livestock farmers to feed their animals with top quality feed products to increase productivity and the quality of output. Consumers around the world are now conscious about the quality of food products they consume, especially the animal protein products; thus, there is a need for a high level of transparency in the supply of livestock products.
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Feed Premix Market Restraint
The lack of awareness among livestock farmers regarding the benefits of feeding livestock with feed premix is a factor restraining the feed premix market and this is projected to continue if means are not provided to ensure livestock farmer are aware.
Furthermore, the rise in cost of feed ingredients coupled with government stringent regulatory framework are factors projected to hamper the growth of the industry over the forecast period. The government of several countries have placed a ban on the use of antibiotics, and this is obviously a threat to the global feed premix market.
Feed Premix Market: Region-wise Analysis
The Asia Pacific region is the largest market for the feed premix due to the rise in number of aquatic and poultry animal farm within the region. The rise in disposable income and increasing population size within the region are driving forces expected to fuel the growth of the global feed premix market over the foreseeable period. With the rising commercialization of livestock farming in countries like India and China is estimated to raise the demand for feed premix products. Also, the growing trend of meat consumption within the Asia Pacific has foster the rise in the production of feed premix.
North America is the second largest market for feed prefix market after generating USD 2.41Billion of the market total revenue in 2018. The shift toward the use of advanced technologies by livestock farmers is a driving factor expected to drive the industry forward over the forecast period. Also, the South America region is projected to witness a moderate growth over the forecast period with Brazil acting as the growth driver for the region. According to FAO, Brazil housed the largest cattle population in 2017 with an headcount of over 330 million.
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Feed Premix Market: Competitive Landscape
- Cargill Incorporated
- Archer Daniels Midland Company (ADM)
- Dansk Landbrugs Grovvareselskab A.M.B.A. (DLG)
- BASF SE
- Land O’Lakes, Inc.
- Godrej Agrovet
- Koninklijke DSM N.V.
- others.
Region-wise Analysis
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
- East Asia (China, Japan, South Korea)
- South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
Report Highlights
The research report presents a comprehensive assessment of market and contains thoughtful insights, facts, historical data, and statistically supported and industry validated market data and projections with suitable set of assumptions and methodology. Research report provides analysis and information by categories such as market segments, geographies, types, technology and applications.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Global Feed Premix Market Segment Analysis
The global feed premix market can be segmented on the following basis:
By Ingredient Type
- Antibiotics
- Vitamins
- Amino Acids
- Minerals
- Antioxidants
- Others
By Animal Type
- Ruminant Feed
- Swine Feed
- Poultry Feed
- Acquaculture Feed
- Other Animal Feed
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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