Feed Premix Market size is projected to reach a value of USD 32.9 billion by 2026, growing at a CAGR of 6.2% during the forecast period. It was estimated to be valued at USD 24.3 billion in 2021. The growth of this market is attributed to the increasing demand for meat and meat products across the globe.
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Growth Opportunities in the Feed Premix Market:
1. Rising demand for animal-based protein: With the increasing global population and improved standards of living, the demand for animal-based protein is increasing, leading to growth in the feed premix market.
2. Growing demand for specialty feed premixes: The increasing demand for specialty feed premixes with specific ingredients, such as probiotics, amino acids, vitamins, and minerals, is a growth opportunity for the market.
3. Expansion of the livestock industry: The growth of the livestock industry, especially in developing countries, is driving the demand for feed premixes.
4. Technological advancements: Advancements in feed premix technology, such as improved production processes and quality control, are creating growth opportunities for the market.
5. Increasing focus on animal health and wellness: The growing emphasis on animal health and wellness is increasing the demand for feed premixes, leading to growth in the market.
Driver: Increase in the demand and consumption of livestock based products
An increase in the demand and consumption of livestock-based products such as dairy & dairy-based products, meat, and eggs is expected to drive the usage of feed additives for the growth and development of farm animals. According to FAO data, it has been stated that global meat production is projected to be 16% higher by 2025. Poultry meat is the primary driver for the growth of the overall meat production, owing to its high demand, low production cost, and lower product prices, both in developed and developing countries. According to FAO statistics, it has been stated that the production of poultry meat reached 120.5 million tons in 2017, whereas swine meat recorded 118.7 million tons, bovine meat recorded 70.8 million tons, and ovine meat recorded 14.9 million tons. Owing to the increasing awareness about the role and dynamics of food nutrients, especially protein, on overall physical and mental growth and development, there is a growing inclination toward animal-sourced protein in the form of either meat, eggs, or milk.
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Asia Pacific is the fastest-growing region during the forecast period in the global feed premix market
The key markets in the Asia Pacific region include China, India, Japan, Australia & New Zealand, Thailand, Vietnam, others, and the Rest of Asia Pacific.
The Asia Pacific region accounted for the largest share of 35.6% of the global market in 2020, in terms of value. The market in the region is driven by the presence of a large livestock population (FAO 2016) and their growth rate. Furthermore, the region has witnessed an increase in the number of feed mills and feed production, particularly in India and Japan. This increase in the number of feed mills in the region reflects the growth in feed production. According to the Alltech Feed Survey of 2018, the region experienced a 7% increase in its feed production, from 356.5 million tons in 2012 to 381.1 million tons in 2017. The largest feed producer, China, contributes significantly to the region’s leading position, with Thailand and Indonesia being the emerging feed-producing countries, while India and Japan are demonstrating constant growth in feed production. According to the same source, among the top 20 feed companies in the world, 16 of them are based in the Asia Pacific region, which makes this a highly competitive market.
This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the Feed premix. It consists of the profiles of leading companies such Koninklijke DSM N.V. (Netherlands), Nutreco N.V. (Netherlands), Cargill (US), Archer Daniels Midland Company (ADM) (US), BEC Feed Solutions (Australia), DLG Group (Denmark), Charoen Pokphand Foods PCL (Thailand), Land O’Lakes (US), AB Agri Ltd. (UK).
Related Reports:
Vitamin & Mineral Premixes Market by Type (Vitamins, Minerals, Vitamin & Mineral Combinations), Application (Food & Beverages, Feed, Healthcare, and Cosmetics & Personal Care), Form (Dry and Liquid), Functionality and Region – Global Forecast to 2027
Feed Additives Market by Livestock, Type (Phosphates, Amino Acids, Vitamins, Acidifiers, Carotenoids, Enzymes, Flavors & Sweeteners, Mycotoxin Detoxifiers, Minerals, and Antioxidants), Form, Source, and Region – Forecast to 2026
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