Feed Premixes Market Outlook
The Feed Premix Market is expected to reach a value of $12.2 billion by 2028, at a CAGR of 3.7% during the forecast period 2021-2028.
Feed premixes, a mixture of trace minerals, vitamins, medicaments, feed supplements, and diluents, are added to animal feed to improve feed performance and, thus, animal health. These premixes help reduce livestock diseases, enhancing their immune system, digestion, and feed intake. These premixes are prepared commercially and added to animal feeds to be given to livestock, including poultry, ruminants, swine, and aquaculture.
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The global feed premixes market is witnessing a constant rise in its size and revenues. The market growth is primarily attributed to the augmenting demand for milk and meat products led by the rising consumption of these products among the ever-increasing global population. To meet the growing demand for food animals, operators try to increase their production by supplying premix enriched feeds to their cattle/ poultry.
Additional factors such as the increasing demand for industrial livestock production and the recent trend of precision nutrition among feed manufacturers are accelerating the growth of the market. The quality of animal products such as eggs, meat, milk, leather, fur, and wool is highly reliant on the feed quality and nutrition offered to the animals. Besides, the growing awareness among animal operators about the importance of nutrition levels in feed impacts the market growth positively.
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 premix market is not much affected by COVID-19 or is 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.
Market Segments
The analysis has been segmented into three main dynamics to widen the scope of understanding,
By Ingredient Type: Vitamins, Minerals, Amino Acids, Lipids, and others.
By Livestock: Poultry, Ruminants, Swine, Aquaculture, and others.
By Regions: Americas, Europe, Asia-Pacific, Middle East Africa, and Rest-of-the-World.
Regional Analysis
The Asia Pacific region dominates the global feed premixes market. The largest market share attributes to the rising demand for animal protein and meat products in the region. The region witnesses a heavy rise in the consumption of dairy meat products; subsequently, the market is evolving to keep up with the supply and demand ratio. India is among the world's largest producers and consumers of milk and other livestock, hence India accounts for a major contributor to the regional market growth. The Indian feed premixes market is projected to grow at 4.30% CAGR during the forecast period. Subsequently, the APAC feed premixes market is estimated to register a 3.78% CAGR during 2018-2023.
Europe is another significantly growing market for feed premixes. The EU and Eastern Europe stand as the second-largest market for milk meat products, the dairy cattle feed market in these regions is currently witnessing exponential growth. Advances in the development of feed premixes and farming practices for poultry and swine act as major growth drivers for the regional market. Germany accounts for the major contributor to the regional market growth, followed by France. The Europe feed premixes market can scale up to USD 3,250.6 MN by 2023.
Competitive Analysis
Highly competitive, the feed premixes market appears fragmented, with many well-established players forming a competitive landscape. To gain a larger competitive share in the market, mergers acquisitions, collaborations, expansions, and product/technology launches remain key strategies for these players. They invest substantially to drive these strategic initiatives and RD to develop a new product/technology. Manufacturers significantly invest in cutting-edge RD that can support the innovation pipeline. These players compete based on pricing, quality, reputation, and services.
Market Players:
Players leading the feed premixes market include Archer Daniels Midland Company (US), Cargill, Incorporated (US), Nutreco N.V. (Netherlands), Koninklijke De Heus B.V. (Netherlands), Koninklijke DSM N.V. (Netherlands), Land O’lakes, Inc. (US), Dansk Landbrugs Grovvareselskab a.m.b.a. (Denmark), ForFarmers N.V. (Netherlands), AB Agri Ltd. (UK), and Phibro Animal Health Corporation (US), among others.
Industry/ Innovation/ Related News:
March 11, 2020 ---- Avivagen Inc. (Canada), a wellness company developing delivering products for animals humans, announced that it has signed a binding distribution agreement with Manila-based INPHILCO, Inc., making it a distribution partner for its feed premix - OxC-beta Livestock in Philippines market. Swine broiler poultry is the most important commercial livestock species in the Philippines.
Avivagen's OCC-beta Livestock has the potential to eliminate the use of antibiotics as growth promoters in livestock feed. Under the partnership, INPHILCO will be able to purchase OCC-beta directly from Aviagen and would hold the exclusive rights to sell it to sizeable integrated feed producers as an ingredient in its premixes and its standalone form.
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