The Feed Premix by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Feed Premix, The feed premix market size has grown rapidly in recent years. It will grow from $21.7 billion in 2023 to $24.25 billion in 2024 at a compound annual growth rate (CAGR) of 11.8%. The growth in the historic period can be attributed to nutritional awareness, livestock health concerns, government regulations, population growth.
The feed premix market size is expected to see rapid growth in the next few years. It will grow to $36.68 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be attributed to urbanization, disease prevention, sustainable practices, research and development. Major trends in the forecast period include personalized nutrition, clean label products, digitalization in agriculture, alternative protein sources, climate-resilient formulations.
The increase in the demand and consumption of livestock-based products is expected to propel the growth of the feed premix market. Livestock-based products comprise eggs, dairy products, and meat products. Adding feed premix to the livestock’s diet helps in providing sufficient vitamins and minerals and enhances nutrition and better production of livestock-based products such as milk. An increase in the adoption and consumption of dairy and meat products is increasing the sales of livestock-based products which is driving the demand for feed premix. For instance, in August 2022, according to the United States Department of Agriculture (USDA), a US-based federal executive department, milk production in the 24 major states during July totaled 18.3 billion pounds, up 0.3% from July 2021. June revised production, at 18.1 billion pounds, was up slightly from June 2021. Therefore, the increase in the demand and consumption of livestock-based products is expected to propel the growth of the feed premix market.
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The feed premix market covered in this report is segmented –
1) By Type: Amino Acids, Antioxidants, Antibiotics, Vitamins, Minerals, Other Types
2) By Form: Dry, Liquid
3) By Livestock: Ruminants, Swine, Aquatic Animals, Poultry, Pets
The development of a new feed ingredient is a key trend gaining popularity in the feed premix market. Advancement in the properties of feed ingredients will lead to improved properties of feed premixes which will benefit the consuming livestock. These new feed ingredients provide additional benefits such as improving health and maximizing production. For instance, in December 2021, BASF, a Germany-based chemical company, developed Natupulse TS, a revolutionary feed enzyme to release priceless nutrients. A non-starch polysaccharide (NSP) enzyme is Natupulse TS. It hydrolyzes ß-mannans into smaller components, such as manno-oligosaccharides, as an endo-1,4-ß-D-mannanase (MOS). When ß-mannanase is added to the feed, the digesta viscosity is reduced, the feed’s digestibility is increased, and a more sustainable output is ensured.
The feed premix market report table of contents includes:
1. Executive Summary
2. Feed Premix Market Characteristics
3. Feed Premix Market Trends And Strategies
4. Feed Premix Market – Macro Economic Scenario
5. Global Feed Premix Market Size and Growth
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26. South America Feed Premix Market
27. Brazil Feed Premix Market
28. Middle East Feed Premix Market
29. Africa Feed Premix Market
30. Feed Premix Market Competitive Landscape And Company Profiles
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