Feed Premix Market size is estimated to be valued at USD 23,182.1 million in 2021 and is poised to grow at a significant CAGR of 6.3% over 2022-2028 Feed premixes are complex mixtures of essential minerals, vitamins, trace elements, feed supplements, and other nutritional additives including amino acids and proteins incorporated in the feed. The main objective of food premixes is to deliver the right micronutrients to the livestock. The premix market is segmented by ingredient types, such as antibiotics, vitamins, antioxidants, amino acids, minerals, and others, as well as by animal types, such as ruminants, poultry, swine, aquaculture, and others. The ruminants feed segment is holding significant market share increase in consumer awareness about the safety of meat and milk products, along with the nutritional content of the food, emerged as the key driver for market growth. Moreover, the competitors are focusing on acquisition to maintain the growth in the market In October 2017 Cargill announced its agreement to acquire Iowa-based Diamond V – a leading global producer of natural animal feed additives, the company has announced its entrance into the Brazilian animal feed space with the acquisition of cattle feed producer, Integral Animal Nutrition. Factors such as rising poultry consumption, rising demands for high-value animal protein, rising population and thus demand, growing economies in developing and developed countries such as India, China, Brazil, and others, and rising living standards, among others, have all contributed to the rising demand for processed and more convenient foods.
Recent Market Developments:
In 2021, ADM acquired Vietnamese premix player, Golden Farm Production & Commerce Company Limited. This strengthens its industrial and commercial coverage in a key feed market such as Vietnam.
In 2019, Land O’ Lakes, Inc. and The Netherlands-based Royal Agrifirm Group set up a dairy animal feed joint venture in China. The joint venture aims to focus on a new dairy premix. Agrilakes will initially be based in Agrifirm’s existing manufacturing plant in Tianjin.