New York, US, March 13, 2023 (GLOBE NEWSWIRE) -- Feed Premixes Market overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), Feed Premixes Market Research Report Information By Type, By Livestock, And By Region – Market Forecast Till 2030. The Feed Premixes market industry is projected to grow up to USD 19.22 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 15.06% during the forecast period (2023 - 2030).
Premix is not intended for direct feeding of animals; it is a mixture of feed additives, or one or more feed additives with feed items or water employed as carriers. Usually, 0 to 0 and a half percent of this premix is added to the compound feed. Just feed premix has been taken into consideration for this study. The market segments and variables influencing the growth of the commercial feed premix business are in-depthly examined in the report.
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|Market Size in 2030||USD 19.22 billion|
|Forecast Units||Value (USD billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, By Livestock, And By Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Drivers||Increased demand for and consumption of products|
|demand for and consumption of livestock-derived products|
Leading industry players are investing a lot of money in R&D to expand their product portfolios, which will spur further growth in the Feed Premixes market. With significant market developments like the introduction of new products, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking a variety of strategic initiatives to expand their global footprint. Feed Premixes market rivals must provide affordable goods to grow and endure in a more cutthroat and competitive market environment.
One of the main business tactics manufacturers use in the Global Feed Premixes industry to serve customers and grow the market sector is to manufacture locally to cut operating costs. The feed premix sector has recently given medicine some of the most significant advantages. The Feed Premixes markets major players are
- Cargill Incorporated,
- Archer Daniels Midland Company (ADM),
- Dansk Landbrugs Grovvareselskab A.M.B.A. (DLG),
- BASF SE,
- Land O'Lakes Inc.,
- Godrej Agrovet,
- DSM N.V
Browse In-depth Market Research Report (109 Pages) on Feed Premixes:
It is anticipated that there will be an increase in the demand for and consumption of goods produced from livestock, such as meat, eggs, and dairy-based goods, which will probably lead to a rise in the usage of feed additives for the growth and development of farm animals. The FAO predicts a 16% increase in world meat production by 2025. Due to its great demand, low production costs, and accessible pricing in both developed and developing nations, poultry meat is mostly to blame for the increase in global meat production.
Manufacturers are improving their quality and safety while maintaining their cost-effectiveness in response to the increased demand for safe and nutrient-rich animal feed. When used in animal feed, feed premixes improve animal performance, growth, productivity, and other factors. The International Feed Industry Federation (IFIF) estimates that global production of compound feed has surpassed 1 billion tons yearly. Particularly in developing nations, the rate of production growth was larger than in industrialized nations.
A significant issue in guaranteeing food safety throughout the entire livestock and aquaculture production and supply chain is compound feed with quality assurance. Animal breeders are concentrating on enhancing animal health and their nutrient-dense diet in order to satisfy the demand for high-quality meat due to rising meat consumption around the world. Premixes play a crucial function in enhancing the nutritional value of feed and the performance of animals while shielding them from illnesses.
Animal health and welfare have been shown to be improved by fortifying feed premixes. As a result, it is becoming a practical and affordable method for increasing animal output for long-term food security. This raises the need for feed premixes from producers of animal feed, which fuels the expansion of the worldwide feed premixes market.
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Notwithstanding the fact that COVID-19 is a moving target, all signs point to a continually bleak outlook for the world economy. The global need for animal feed is increasing, but the COVID-19 pandemic has significantly impacted this trend and disturbed the supply chain, which has restricted product commerce. The largest threat to "business as usual" in the feed premix industry is interruptions in the supply chain. The shutdown of factories and ports resulted in even more of a shortage of supplies. For instance, Romanian export restrictions to non-EU countries led to serious supply-demand issues in the feed premix market.
In terms of revenue for the Feed Premixes Market in 2022, the Vitamins Feed Premixes segment held the majority share. because there are more industrial cattle farms and more people who want vitamin-enriched feed. The global market for vitamin premixes is expected to experience significant growth.
according to livestock
In 2022, the poultry category led the market. From 2022 to 2030, it is expected to increase at a higher rate. soaring because to consumers' expanding desire for chicken and turkey. With sharp rises in the consumption of chicken meat, eggs, and other animal goods.
Due to the rise of farms for poultry and aquatic animals in the region, the Asia Pacific Feed Premixes market, which had a USD 0.88 billion market value in 2022, is anticipated to grow at a substantial CAGR during the study period. The rise of livestock farming is anticipated to promote the market share of compound feed and feed premix due to the region's high population and growing need for animal protein. It is projected that more feed premix products will be required as commercial livestock production expands in countries like China and India. The significant market share of this region is primarily attributable to the expansion of the compound animal feed industry, a strengthening global economy, rising pet food supplementation demand in emerging and developing nations like India, China, Indonesia, and Thailand, as well as rising investments from significant regional players. Through 2028, China is anticipated to dominate the Asia-Pacific market, primarily as a result of shifting consumer habits, rising feed consumer awareness, industrialization of the livestock industry, occurrences of fake meat and other goods, and the prohibition on the use of antibiotics as growth promoters.
The second-largest market share belongs to Europe Feed Premixes. To promote market expansion, the livestock producers in this region would soon adopt efficient and cutting-edge farm management techniques. Also, the UK Feed Premixes market had the quickest rate of growth in the European region, while the Germany Feed Premixes market had the greatest market share.
From 2022 to 2030, the market for feed premixes in North America is anticipated to expand at the quickest rate. Due to the livestock producers in this region fast implementing efficient and cutting-edge farm management techniques, the market would continue to expand. Moreover, the US Feed Premixes market had the biggest market share, while the Asia-Pacific region's fastest-growing market was Canada.
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