Meticulous Research®— a leading global market research company, published a research report titled “Feed Premix Market by Type (Combination Premixes, Vitamin Premix, Mineral Premix, Amino Acid Premix, Nucleotide Premix, Nutraceutical Premix), Form (Powder and Liquid), Application (Ruminant Feed, Swine Feed, Aqua Feed) — Global Forecast to 2028”.
The feed premix market is expected to grow at a CAGR of 3.7% from 2021 to reach $12.2 billion by 2028. This market is majorly driven by factors such as feed premixes’ use as a single ingredient over multiple ingredients, increasing demand for compound animal feed, and increased awareness regarding the safety of meat products. Moreover, the emergence of developing countries as strong consumers for the feed application provides significant opportunities in this market. However, the regulatory structure and intervention and technical problems during storage and handling procedures obstruct this market's growth to some extent.
The feed premix market study presents historical market data in terms of value (2019 and 2020), estimated current data (2021), and forecasts for 2028. The market is segmented based on type, form, application, and geography. The study also evaluates industry competitors and analyses the market at the country level.
Based on type, the feed premixes market is mainly segmented into combination, vitamin, mineral, amino acids, nucleotide, fiber, nutraceutical, and other premixes. The combination premixes segment is estimated to account for the largest share of the feed premixes market in 2021. The large share of this segment is mainly attributed to the rise in consumption of compound feed, growing demand for vitamin and mineral-enriched foods, and increase in consumer awareness regarding required pet nutrition.
Based on form, the feed premix market is segmented into powder and liquid. The powder segment is estimated to account for the largest share of the feed premixes market in 2021. The large share of this segment is mainly attributed to its advantages over liquid forms, such as better homogeneity, ease of handling, simple transport economics, and better stability of a premix. The powder segment is also expected to grow at the highest CAGR during the forecast period.
Based on application, the feed premix market is segmented into poultry feed, ruminant feed, swine feed, aquafeed, and other feed applications. The poultry feed segment is estimated to account for the largest share of the feed premixes market in 2021. The large share of this segment is mainly attributed to the growing demand for poultry feed due to rising poultry meat consumption and poultry farming, especially in developing regions, such as Asia-Pacific and South America. However, the aquafeed segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the growing focus on balanced commercial diets that promote optimal fish growth and health, increasing global demand for fish and fish products, and rising growth of the aquaculture industry.
Geographically, the Asia-Pacific region is estimated to account for the largest share of the feed premixes market in 2021. The large share of this region is primarily attributed to the growing compound animal feed industry, growing economy, increasing demand for pet food supplementation in emerging and developing countries including India, China, Indonesia, and Thailand, and rising investments from major players in the region. China is expected to dominate the Asia-Pacific market through 2028, mainly due to the changing consumption pattern, increasing awareness level amongst feed customers, industrialization of the livestock sector, incidences of counterfeit meat and other products, and the ban on antibiotics as growth promoters.
The key players operating in the feed premix market are Koninklijke DSM N.V. (Netherlands), BASF SE (Germany), Archer Daniels Midland Company (U.S.), Cargill, Incorporated (U.S.), Nutreco N.V. (Netherlands), InVivo Group (France), Jubilant Pharmova Limited (India), Koninklijke Coöperatie Agrifirm U.A. (Netherlands), Dansk Landbrugs Grovvareselskab a.m.b.a. (Denmark), Phibro Animal Health Corporation (U.S.), Purina Animal Nutrition LLC (U.S.), Burkmann Industries Inc. (U.S.), Danish Agro a.m.b.a. (Denmark), and De Heus Voeders B.V. (Netherlands).
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