The Feed Premix market is projected to grow between 2024 and 2028, driven by the rising demand for compound animal feed.
According to TechSci Research report, “Feed Premix Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, Global Feed Premix Market is anticipated to upsurge at an impressive rate in the forecast period 2024-2028. A significant factor fueling the growth of the Global Feed Premix Market due to increasing demand for compound animal feed. Additionally, advancement in the properties of feed ingredients will lead to improved properties of feed premixes during consuming livestock as it provides additional benefits such as improving health and maximizing production which further fuel the growth of Global Feed Premix Market.
For instance, in December 2021, BASF developed Natupulse TS, a revolutionary feed enzyme to release priceless nutrients and help in increasing the feed’s digestibility.
Furthermore, the market is being further stimulated by the growing demand for livestock-based products, as well as growing concern regarding the animal wellness and health.
However, lack of awareness about feed premix with livestock can slow down market growth. Also, high cost of feed ingredients and government stringent regulations can further slowdown market growth.
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Global Feed Premix Market is segmented based on ingredient type, livestock, form, and region.
Based on ingredient type, the market is categorized into antibiotics, vitamins, amino acids, minerals, and others. Amino Acids are expected to hold the largest market share in the forecast period, 2024-2028. As they help in increasing production and reduce incidences of diseases in animals.
Based on livestock, the market is fragmented into poultry, ruminants, swine, aquatic animals, and others. Poultry is expected to hold the largest market share in the forecast period, 2024-2028. This is due to its low production cost and high demand among customers.
Based on form, the market is segregated into dry and liquid. Dry segment will experience the highest market share during the forecast period, 2024-2028. Due to its convenient storage and packaging, longer shelf life, and easy to use features.
Major companies operating in the Global Feed Premix Market are:
- Koninklijke DSM N.V.
- BASF SE
- Nutreco N.V.
- Cargill, Incorporated
- Purina Animal Nutrition LLC.
- Kemin Industries, Inc.
- Alltech, Inc.
- The Archer-Daniels-Midland Company
- Godrej Agrovet Limited
- BEC Feed Solutions Pty Ltd
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“Asia Pacific region is expected to grow at the highest rate during the forecast period due to increasing shift toward a systematic and industrialized production of livestock. Additionally, increasing compound animal feed industry, growing economy, increasing demand for pet food supplementation creates lucrative opportunities for market growth.
Furthermore, in North America, quick adoption of technologically and efficient advanced farm management procedures by the livestock farmers can create huge prospects of market growth during the forecast period,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Feed Premix Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Ingredient Type (Antibiotics, Vitamins, Amino Acids, Minerals, Others), By Livestock (Poultry, Ruminants, Swine, Aquatic Animals, Others), By Form (Dry, Liquid), By Region and Competition, has evaluated the future growth potential of global Feed Premix market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Feed Premix Market.”
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