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Feed Premix Market Worth $30.9 billion by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, Nov. 8, 2019 /PRNewswire/ -- According to the new market research report "Feed Premix Market by Ingredient Type (Vitamins, Minerals, Amino Acids, Antibiotics, Antioxidants, and Others), Livestock (Poultry, Ruminants, Swine, Aquatic Animals, Equine, and Pets), Form (Dry and Liquid), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Feed Premix Market is estimated to be valued at USD 21.6 billion in 2019 and is expected to reach a value of USD 30.9 billion by 2025, growing at a CAGR of 6.2% during the forecast period. Feed premixes consist of necessary growth factors that are added as supplements with concentrate feed to provide a wholesome nutritional diet for animals. Owing to the recent disease outbreaks, ingredients in feed premixes have come under focus to strengthen the immunity of livestock. With advancements in technology and awareness among farmers, the emerging markets are obtaining more localized premix products and services.
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The amino acids are estimated to account for a larger market share, in terms of value, in 2019
The amino acids segment is considered to hold a larger market share since one of the essential nutrients that need to be supplied by the feed raw materials is amino acids contained in various cereals, grains, and crops. The use of feed premixes such as amino acids, antioxidants, vitamins, enzymes, minerals, and antibiotics prevents disease outbreaks in livestock and improves the overall feed absorption and assimilation. This apparent benefit and its increasing awareness and acceptance among livestock producers are expected to drive the feed premix market over the next few years.
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127 – Tables
58 – Figures
192 – Pages
The poultry segment is estimated to hold the largest market in the feed premix industry, in terms of value, in 2019
The poultry segment holds a larger market share in the feed premix market. According to FAO data, global meat production is projected to be 16% higher by 2025. An increase in demand for poultry meat is the primary driver for the growth of the overall meat production, owing to its high demand, low production cost, and lower product prices, both in developed and developing countries. According to FAO statistics, it has been stated that the production of poultry meat reached 120.5 million tonnes in 2017. This increase in demand for poultry meat is driving the need for feed premixes to be incorporated in compound feed.
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Asia Pacific is projected to grow at the highest CAGR during the forecast period
With rapid economic growth in the region, high demand is expected for feed products, especially in China, India, South Korea, and Japan. The contribution of the Asia-Pacific region accounted for the largest share of the global meat production in 2018 according to the FAO, and is projected to grow due to increase in consumption of meat. The main reason for the high consumption of feed premixes in the region is the increased focus to enhance poultry and other livestock meat production.
This report includes a study on the marketing and development strategies, along with a survey of the product portfolios of the leading companies operating in the feed premix market. It includes the profiles of leading companies such as Nutreco N.V. (The Netherlands), Koninklijke DSM (The Netherlands), Cargill (US), ADM (US), and DLG Group (Denmark).
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