Feed Premix Market size is estimated to reach $29.3 Billion by 2025 and is poised to grow at a CAGR of 6.9% during the forecast period 2020-2025. Feed Premix play an important role in improving the feed additives and properties of the feed. Feed Premix also benefits the animals by strengthening the immune and reproductive systems and enhancing the metabolism levels. Premix means a blend of vitamins, trace minerals, antibiotics, feed supplements and diluents. Increased consumption of livestock-based products has led to an increase in feed premix market growth over the forecast period (2020-2025).
By Type- Segment Analysis
The global Feed Premix market based on the Type has Amino acids, Antioxidants, Antibiotics, Vitamins, Minerals and Others. Amino acids segment is set to be the fastest growing CAGR during the forecast period 2020-2025. This is owing to consumption of the amino acid feed premixes which has been on rise globally. Asia-Pacific and North America being high growth markets for amino acids in premixes and is poised to grow with highest CAGR over the forecast period (2020-2025). The vitamin segment is poised to hold the largest share in terms of value throughout the forecast period 2020-2025.
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By Livestock – Segment Analysis
The global Feed Premix market based on the Livestock has cattle, poultry, aquaculture swine, and pet foods. Swine registered high revenue in the year 2019 and is poised to grow for the forecast period (2020-2025). The swine feed is projected to have a major market share during the period of pork production growth. The aquaculture is set to grow with the highest CAGR of 5.99% during the forecast period 2020-2025 owing to demand for sea food as more people are becoming aware of the health benefits of seafood.
By Geography – Segment Analysis
Asia Pacific holds major share of 36.1% of the overall market share. This is owing to increasing demand for Livestock products and Industrialization. Growth in disposable income and population growth in the region is set to fuel the growth of the Asia Pacific feed premix market during the forecast period 2020-2025. The shift towards the use of advanced technologies by livestock farmers is setting North America to increase its market share over the forecast period (2020-2025).
Drivers – Feed Premix Market
Rise in Demand for High Value Animal Protein
The Compound Feed market is poised to grow owing to Increasing demand for livestock protein products such as milk, meat and others is pressuring livestock farmers to feed their animals with the best quality feed products to increase productivity and product quality. Consumers around the world are now conscious of the quality of the food products they consume, especially animal protein products, therefore, a high level of transparency is required in the supply of livestock products is another factor driving the growth of the market. Modernization of Livestock farms in growing regions to meet the demand of animal protein is set to support the growth of the market over the forecast period (2020-2025).
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Challenges – Feed Premix Market
Rise in cost of feed ingredients
Increase in feedstock prices and the government’s stringent regulatory framework is set to hinder the industry’s growth over the forecast period (2020-2025). On the other hand, Livestock farmer’s lack of awareness of the benefits of feeding livestock with feed premix is one of the factors hindering the feed premix market and is set to continue unless the livestock farmer is aware.
Feed Premix Market Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Feed Premix Market. Key companies of this market include Cargill Incorporated, Archer Daniels Midland Company, Dansk Landbrugs Grovvareselskab, BASF SE, Land O’Lakes, Godrej Agrovet, Koninklijke DSM N.V, Phibro Animal Health Corporation, BEC Feed Solutions, De Heus Animal Nutrition BV, Agrofeed Ltd. and Others.
In March 2020, Agrofeed Ltd has decided to expand into the Poultry Business Department, a successful professional collaboration with the Shothorst Feed Research Institute on the pork business.
In June 2020, BASF SE entered partnership to support rice farmers in China.
Geographically, the Asia Pacific region is the largest market for Feed Premix owing to the rise in number of aquatic and poultry animal farm within the region and is set to grow over the forecast period (2020-2025).
The major driver for the Feed Premix market is growing inclination for healthier livestock with rising growth of livestock-based products and use in quality feed products.
Livestock farmer’s lack of awareness of the benefits of feeding livestock with feed premix is one of the factors hindering the feed premix market and is projected to continue unless the livestock farmer is aware.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market is set be provided in the Feed Premix Market report.
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