Feed Premix Market is expected to reach US$ 17,101.04 million by 2030

Increase in Livestock Production Drives Feed Premix Market Growth

According to our latest market study on “Feed Premix Market Forecast to 2030 – COVID-19 Impact and Global Analysis – by Type and Application,” the feed premix market size is projected to grow from US$ 11,732.50 million in 2022 to US$ 17,101.04 million by 2030. The market is expected to record a CAGR of 4.8% from 2022 to 2030. The report highlights key factors driving the market and prominent players along with their developments in the market.

Feed premixes’ use as a single ingredient over multiple ingredients, increasing demand for compound animal feed, and increased awareness regarding the safety of meat products are the key factors boosting the demand for feed premixes. These premixes are mixed in feed materials to enhance the nutritional quality of animal feed and to provide essential micronutrients to animals. Owing to these properties, the demand for feed premixes is increasing across the globe and further expected to drive the market growth in the forecast period.

Feed Premix Market Breakdown – by Region

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/sample/TIPRE00004696

The feed premix market across the globe is significantly growing with the rising production of industrial livestock. Production has undergone a significant transformation owing to the increasing demand for meat-based products and dairy products. Animal protein accounts for 16% of energy and 34% of the protein in human diets. Livestock production also accounts for ~19% of the value of food production and 30% of the global value of agriculture. The demand for livestock products is driven by changing lifestyles and food preferences, increasing urbanization, growing income, and the rapidly rising world population. With burgeoning livestock demand, the consumption of protein-rich meat products is surging. According to the Food and Agriculture Organization (FAO), worldwide meat protein consumption is predicted to increase by 14% by 2030. Additionally, world milk production is expected to rise by 1.6% annually between 2020 and 2029 and reach 997 million metric tons in 2029, according to a report by the Organization for Economic Co-operation and Development (OECD) and FAO. Thus, growing consumption of livestock products, such as meat, and increasing milk production have encouraged manufacturers to focus on providing good quality and nutrient-rich feed for livestock. This drives the demand for feed premix as an additive among feed manufacturers. Thus, with the surging demand, the production of healthy livestock is increasing across the globe, further driving the feed premix market.

Danish Agro AMBA, Agrifirm Group BV, Nutreco NV, Archer-Daniels-Midland Co, Cargill Inc, Koninklijke DSM NV, Dansk Landbrugs Grovvareselskab amba, NuSana BV, De Heus Voeders BV, and Kemin Industries Inc are among the major players operating in the global feed premix market. Market players focus on developing high-quality products to fulfill the varied requirements of end users. Moreover, these key players adopt strategic development initiatives, such as product development, collaboration, and partnerships, to expand their market presence. For instance, in 2021, Cargill opened one of the world's largest premix and animal nutrition facilities in Ohio, US. The build represents a US$ 50 million investment from the company. It is a 220,000-square-foot facility with advanced technologies. Such initiatives by key market players are aids to the market growth.

Impact of COVID-19 Pandemic on Feed Premix Market

Various industries suffered severe disruptions due to disturbances in supply chains and shutdowns of production plants amid the COVID-19 pandemic. The shutdown of banks, manufacturing plants, and factories in regions such as North America, Asia Pacific, Europe, South America, and the Middle East & Africa disrupted supply chains, manufacturing, delivery schedules, and product sales. Many businesses announced possible delays in product deliveries and slumps in their future sales. Supply chain disruptions, raw material and labor shortages, and operational difficulties created a demand and supply gap that resulted in increased prices of feed premixes, hampering the feed premix market growth.

However, the changes in consumption patterns and purchasing power of consumers resulted in increasing sales of packaged meat products. Moreover, due to the work-from-home mandate, consumers preferred to eat packaged meat products at home. Such convenience positively impacted the market growth.

In 2021, various economies resumed their operations as country governments announced relaxations in the previously imposed restrictions, which, in turn, bolstered the market. Moreover, manufacturers were permitted to operate at full capacities, which helped them overcome the demand and supply gaps. All these factors have been favoring the growth of the feed premix market in the post-pandemic recovery period.

The report includes the segmentation of the feed premix market as follows:

Based on type, the feed premix market is segmented into vitamins, minerals, amino acids, antibiotics, antioxidants, blends, and others. Based on form, the market is bifurcated into dry and liquid. By livestock, the market is segmented into poultry, ruminants, swine, aquaculture, and others. By geography, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The feed premix market in North America is further segmented into the US, Canada, and Mexico. The European market is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The market in Asia Pacific is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the MEA is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The feed premix market in South & Central America is subsegmented into Brazil, Argentina, and the Rest of South & Central America.

Contact Us
Contact Us: The Insight Partners 
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com