According to Precision Business Insights (PBI) latest report, the global feed premix market is expected to be worth USD 25,164.3 million in 2022, growing at a 6.3% CAGR from 2022 to 2028. Increased demand for livestock products, such as dairy, meat, and eggs is in high demand all over the world. According to research and polls, demand for cattle products is expected to increase by 16 percent by 2025. People are demanding feed premixes with higher nutritional value and precisely added extra nutrition. This demand has also risen because of pandemic-related demands for granular animal feed premixes and additives. As a result, even during the epidemic, it fueled the expansion of Feed premixes. Because of the rising need for animal feed premixes in the feed business, the Feed Premixes industry has outgrown and expanded its region in several high-demand countries.
Animal type Segment are Dominate the Feed Premix Market:
Based on the animal type the global feed premix market is segmented into Ruminant Feed, Poultry Feed, Swine Feed, Aquaculture Feed, and Other Animal Feed. Ruminant feed segment is anticipated to hold the highest share of the market due to people are eating more animal protein diets, which leads to an increase in demand for cow food items, which leads to the rise of the cattle feed business. The regulatory policies that are demanding and time-consuming are the reasons that are limiting market expansion. The market faces a challenge in monitoring mycotoxin contamination in livestock feed. The beef cattle business makes a substantial contribution to the development of industrialized countries, resulting in additional market opportunities.
North America Leads Feed Premix Market:
North America dominated the market in 2021, accounting for approximately 34% of global sales. Growing meat consumption, mostly in the United States, along with stringent meat quality rules is likely to propel the regional industry forward in the next years. Furthermore, the region’s easy and abundant supply of raw materials, such as maize and dextrose, is likely to boost market expansion. Moreover, Between 2021 and 2028, Asia Pacific is expected to have the highest CAGR. Due to a high population and a significant increase in meat consumption, emerging economies such as China and India have seen tremendous expansion in cattle inventories over the previous decade. As a result, demand for cattle feed in the region has increased.
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Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
Global Feed Premix market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance,
- 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.
The feed premix market detailed segmentation:
Based on the Ingredient Type:
- Amino Acids
- Other Ingredient Types
Based on the animal type:
- Ruminant Feed
- Poultry Feed
- Swine Feed
- Aquaculture Feed
- Other Animal Feed
Based on Geography:
- North America
- Asia Pacific
- Latin America
Key player’s profiles in the Feed Premix Market report are Cargill, Inc., Archer Daniels Midland Company (ADM), Dansk Landbrugs Grovvareselskab A.M.B.A. (DLG), BASF SE, Land O’Lakes, Inc., Godrej Agrovet Limited, Koninklijke DSM N.V., Invivo Group, Danish Agro, BDT Group, ForFramers B.V., De Hues Group.
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