Animals continue to make important contributions to the global food supply; as a result, animal feeds have become an increasingly critical component of the integrated food chain. Meeting consumer demand for more meat, milk, eggs, and other livestock products is dependent to a major extent on the availability of regular supplies of appropriate, cost-effective, and safe animal feeds. Thus, the significant increase in global demand for livestock products requires increasing amounts of feed supplies, sources, and alternatives.
World population growth is another important reason to consider alternative, cost-effective, and convenient sources for manufacturing animal feed. In livestock diets, appropriate dietary concentration is one of the most expensive components of feed formulation. Feedstuffs and ingredients, such as vitamins, minerals, amino acids, antibiotics, and colorants, are blended in different proportions to yield the appropriate compound feed for the various animal species. As a result, feed premixes have gained renewed interest in the animal feed industry due to their concentrated energy source and feed efficiency.
The growing requirement for safe and nutrition-rich animal feed has influenced manufacturers to improve their quality and safety while retaining their cost-effectiveness. The use of feed premixes in animal feed shows beneficial animal performance, growth, productivity, and various benefits.
According to the International Feed Industry Federation (IFIF), world compound feed production has reached 1 billion tons annually. The growth in production rate, particularly in the developing countries, was higher than in the developed countries. Moreover, the United Nations Food and Agriculture Organization (FAO) estimates that, by 2050, the demand for food will grow by 60% and that between 2010 and 2050, production of meat is projected to rise by nearly 70%, aquaculture by 90%, and dairy by 55%, creating a huge demand for animal feed.
In addition, the highest growth for meat consumption is expected in Asia-Pacific and Latin America due to changing diet patterns, increasing population & urbanization, and economic growth. For instance, According to Agriculture and Agri-food Canada, the Chinese demand for meat surpasses the domestic supply. Fish are low in fats, cholesterol, and carbohydrates. Although not very high in protein, fish also provide essential vitamins and amino acids. The demand for seafood is increasing rapidly as more and more people are becoming aware of the health benefits of fish consumption. Globally increasing population trends are also supporting the growth of the global meat and seafood market.
Further, quality-ensured compound feed is a major concern in ensuring food safety along the entire livestock and aquaculture production and supply chain. To cater to the demand for quality meat with increasing meat consumption globally, animal breeders are focusing on boosting animal health and their nutritious diet. Premixes perform the essential role of improving feed nutritional value and performance of animals while preventing them from disorders.
The fortification of feed premixes has been linked to an improvement in animal health and welfare. Consequently, it is emerging as a cost-effective means of improving animal productivity for sustainable and viable food security. This increases the demand for feed premixes from animal feed manufacturers, thereby driving the growth of the global feed premixes market. Meticulous Research® expects the global feed premixes market will grow at a CAGR of 3.7% during the forecast period to reach USD 12.2 billion by 2028 from USD 9.4 billion in 2021.
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