The global feed premixes market is expected to register a CAGR of 3.55% to reach USD 12,325.2 million by 2023. The market trend and growth in the feed premix market is higher and more inclined towards livestock-based products such as dairy products, meat, and eggs. The Asia-Pacific region is projected to show the fastest and highest growth in the market, which has currently recorded 36.26% alone and is estimated to emerge as the global leader in Feed Premix Industry by 2026. Factors such as an increase in consumption of poultry products, rise in population and hence demand, growing economy in developing and developed nations such as India, China, Brazil, etc, and rise in standards of living, etc, have contributed to the growing demand of processed and more convenient food items. Advanced technology and improvement in manufacturing quality and quantity have helped to meet growing demand in the feed premixed product market.
The pandemic has affected the entire world and different markets which then has proven in their declining rate of economy and profits but the feed premix market is not much affected by COVID-19 or are hit moderately. Technical and medical advancement has given the power to process the food and immune the livestock products and add some nutritional value to the animal feed premixes. Injections and additives in the granular form are used to immune meat and add extra valuable nutrients which have given a rise to selling rates as people are demanding well-processed and more nutritional poultry products. COVID-19 outbreak has lowered the growth of the feed premixes market than it was expected to grow but overall it has allowed animal feed premixes from a market perspective.
Drivers: Three Major drivers are driving the growth and trend in the feed premixes market currently and these drivers are helping the feed industry to increase its cost and value in the market.
Opportunities: With the advancement of science in the technical and medical field, feed premixes are growing and implementing science to better their status and create opportunities in the future.
The feed premixes are regulated and checked at different levels. Various techniques, methods, and processes are implemented to define the quality, ingredients, and material used for feed premixes and mixtures. Different countries have different regulatory checks to specify and authorize the sale of the feed product. For example, European Union(EU), banned the use of antibiotics for feed premixes, and similarly, few countries demand the label of ingredients and use of genetically modified organisms and plants. There are no such regulations for Feed Premixes manufacturers in the USA and Canada.
By nutrition type, amino acids were concluded for having the highest shares in Feed Premixes Market. Amino acids are the essential acids produced in human beings that combine to form proteins in the body and these formed proteins help to break down the food. A variety of amino acids are fed to livestock animals as supplements to increase their efficiency and nutritional value of those animals.
By form of the product, dry segments are accounted for having the largest share in the Feed Premix market. It is so because dry segments are easy to store and can be preserved for a much longer time than other forms of the product. Also, dry feed ingredients are easy to mix with feed to form premixes. Also, they are easily transportable and less need less care during the processes.
Livestock and poultry products hold the largest share for being the dominant segment in the feed premix market as they are in high demand by the feed premix consumers. The highest number of feed premixes consumers are consuming livestock products and this has given the feed premixes market the highest profit. Poultry products are set to be in rising demand in the future.
Asia-Pacific region holds the highest percentage of consumers of the Feed Premixes market. In recent years, the Feed Premix industry has focused on these nations such as India, China, Thailand, Brazil, etc which are producing the highest demand for these products. The Asia-Pacific region has accounted for 35.6% alone and is projected as the global leader of feed premixes by 2026. According to surveys and data, 16 out of 20 top feed companies are located in this region. Recently, new plants are set up and developed in these regions to meet the growing demand of the consumers.
The major majors which are playing as key players in the development and growth of the Feed Premix market are mostly targeting developing countries and a few developed nations. Some of those companies are:
These companies are using strategies and innovations to attract and form strong consumers around the globe. Few of them are joining together in a partnership to form a stronger team. For example, Land O'Lakes Inc. came into partnership with the Netherlands-based Royal Agrifirm Group, for developing a dairy animal feed joint venture in China.
A feed premix is a value-added combination of livestock such as meat, eggs, and dairy products with nutrition elements such as Vitamins, amino acids, minerals, lipids, and other nutrients. The reports present a detailed analysis of feed premix market demands and conditions till 2023. It includes the animal feed premix market details such as growth factors, highest consuming region, developments in the field, etc.
Frequently Asked Questions (FAQ) :
The Feed Premix Market is expected to grow at a CAGR of 3.8% over the next 5 years.
Factors such as an increase in demand for livestock products, added nutritional valued meat and feed products, surging demand for animal feed products, etc, contribute to the price of the feed premix market.
Asia-Pacific region is projected to be the global leader of the feed premix market in the next 5 years.
India, China, Australia, Thailand, Japan, etc are included in the Asia-Pacific region.