Market Overviews
The feed premixes market is expected to register a CAGR of 5.6% to reach USD 19.75 Billion by 2027. The market trend and growth in the feed premix market is higher and more inclined towards livestock-based products such as dairy products, meat, and eggs. The Asia-Pacific region is projected to show the fastest and highest growth in the market, which has currently recorded 36.26% alone and is estimated to emerge as the global leader in Feed Premix Industry by 2026.
The global feed premixes market is profiled in detail in the research report, providing readers with a comprehensive overview of the market through its historical growth trajectory, present conditions, and future growth prospects. The historical stats of the feed premixes market are detailed in the report, in order to provide readers with a complete overview of the market’s historical growth trajectory. The historical stats provided in the report also give analysts a solid platform to base future projections about the market. Based on this platform, future projections for the feed premixes market’s growth trajectory over the forecast period are provided in the report. The leading players in the global feed premixes market are also profiled in the report in order to give readers a comprehensive analysis of the leading players in the global feed premixes market. The major drivers and restraints affecting the global feed premixes market are also profiled in the report to provide readers a comprehensive overview of what’s making the market tick and what is holding the market back.
Feed premixes are premixed mixtures of vitamins, minerals, lipids, medications, and feed supplements. They help improve the quality of the animal feed being provided to the animals and can play a vital role in avoiding diseases to the animals. The global feed premixes market is mainly driven by the growing demand for animal feed from the growing animal products industry. The quality of animal products such as eggs, meat, and wool is highly dependent on the quality of the animal feed provided to the animals, leading to increasing importance being attached to products such as feed premixes. The growing awareness among farmers about the importance of animal feed is likely to be a major driver for the global feed premixes market over the forecast period.
COVID-19 Analysis:
The pandemic has affected the entire world and different markets which then has proven in their declining rate of economy and profits but the feed industry is not much affected by COVID-19 or are hit moderately. Technical and medical advancement has given the power to process the food and immune the livestock products and add some nutritional value to the animal feed premixes. Injections and additives in the granular form are used to immune meat and add extra valuable nutrients which have given a rise to selling rates as people are demanding well-processed and more nutritional poultry products. COVID-19 outbreak has lowered the growth of the feed premixes market than it was expected to grow but overall it has allowed animal feed premixes from a market perspective.
Competitive Leaderboard:
Leading players in the global feed premixes market include AB Agri Ltd., Phibro Animal Health Corporation, Dansk Landbrugs Grovvareselskab a.m.b.a., ForFarmers NV, Land O’Lakes Inc., Koninklijke De Heus BV, Koninklijke DSM NV, Nutreco NV, Archer Daniels Midland Company, and Cargill Inc. Major players in the feed premixes market are majorly engaged in product diversification efforts in order to fill all niches in the animal feed market.
Segmentation:
The global feed premixes market is segmented on the basis of ingredient type, livestock type, and region.
By ingredient type, the global feed premixes market is segmented into vitamins, minerals, amino acids, lipids, and others. The vitamins segment dominates the global feed premixes market and is likely to dominate the market over the forecast period due to the growing demand for vitamins in feed premixes. Vitamins are vital in ensuring the absence of diseases and healthy growth in livestock animals. Vitamins play a key role in ensuring steady health of farm animals, leading to a growing demand for vitamins in feed premixes. The vitamins segment is expected to reach a valuation of USD 4.3 billion by 2023, according to MRFR. Minerals also hold a key share in the global feed premixes market and are likely to remain important for the global feed premixes market over the forecast period. On the other hand, the lipids segment is expected to exhibit the fastest growth over the forecast period, exhibiting a robust 4.10% CAGR over the forecast period. Lipids are not only a highly energy-dense additive, but also enhance the palatability of the animal feed.
By livestock type, the global feed premixes market is segmented into poultry, ruminants, swine, aquaculture, and others.
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Regional Analysis:
Asia Pacific accounted for the largest share in the global feed premixes market in 2017, accounting for 35.19% of the market. The regional market is expected to exhibit a strong 3.78% CAGR over the forecast period, retaining its lead in the global market. Europe, dominated by Germany and France, is the second largest regional market in the global feed premixes market.
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