PUBLISHER: The Business Research Company | PRODUCT CODE: 1392659
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392659
“Feed Premix Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on feed premix market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for feed premix? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The feed premix market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Feed premix refers to a mixture of one or more feed additives that are included in the diet of livestock animals and are not intended for direct consumption. Premix includes vitamins, trace minerals, medicaments, feed supplements, and diluents as its constituents. It's a value-added solution for feeds with long-term quality and safety.
The main types of feed premix are amino acids, antioxidants, antibiotics, vitamins, minerals and others. The amino acids feed premix contains L-lysine, DL-methionine, and L-threonine which improves the synthetic efficiency of protein. The availability of those components permits a user to anticipate an increase in protein synthesis efficiency. The feed premix are available in two form namely dry and liquid and are used by livestock such as ruminants, swine, aquatic animals, poultry and pets.
The feed premix market research report is one of a series of new reports from The Business Research Company that provides feed premix market statistics, including feed premix industry global market size, regional shares, competitors with a feed premix market share, detailed feed premix market segments, market trends and opportunities, and any further data you may need to thrive in the feed premix industry. This feed premix market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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.
The increasing pet adoption is expected to propel the growth of the feed premix market going forward. Animal adoption is defined as acquiring animals through rescue groups instead of purchasing them from pet shops or breeders. Pet adopters seek feed premix to provide a precise balance of essential vitamins, minerals, amino acids, and other nutrients. This ensures that pets receive the necessary nutrients for their overall health and well-being. For instance, in February 2023, according to Chewy Inc., a US-based online retailer of pet food and other products, there were around 977,202 pets adopted in the US in 2021, which resulted in the highest adoption rate of 61% in the past six years. Therefore, increasing pet adoption drives the feed premix market.
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 B-mannans into smaller components, such as manno-oligosaccharides, as an endo-1,4-B-D-mannanase (MOS). When B-mannanase is added to the feed, the digesta viscosity is reduced, the feed's digestibility is increased, and a more sustainable output is ensured.
Major companies operating in the feed premix market are adopting new enzyme development to sustain their position in the market. Non-starch polysaccharide (NSP) enzyme is a type of enzyme that is used to break down non-starch polysaccharides in animal feed. For instance, in December 2021, BASF SE, a Germany-based chemicals company launched Natupulse TS, a new enzyme product for animal feed. It is a non-starch polysaccharide (NSP) enzyme that hydrolyzes B-mannans into smaller components, such as manno-oligosaccharides (MOS), which can have prebiotic properties. The addition of B-mannanase to the feed decreases digesta viscosity, increases the digestibility of the feed, and ensures a more sustainable production.
In April 2021, Archer Daniels Midland (ADM), a US-based company operating in food processing company, acquired Golden Farm Production & Commerce Company Limited for an undisclosed amount. Through this acquisition, Archer Daniels Midland (ADM) will significantly expanding its range of Wisium premix offerings in Vietnam. Golden Farm Production & Commerce Company Ltd is a is a Vietnam-based company that manufactures prepared feeds and additives for cattle, poultry and aquatic animals.
Major companies operating in the in the feed premix market report are Advanced Animal Nutrition Pvt. Ltd., Archer Daniels Midland Company, BASF SE, BEC Feed Solutions PTY Ltd., Cargill Inc., Nutreco N. V., DLG Group, Charoen Pokphand Foods Public Company Limited, Alltech, Koninklijke DSM N. V., Land O'Lakes Inc., AB Agri Ltd., De Heus Beheer B. V., ForFarmers NV, Lallemand Animal Nutrition Inc., Biomin Holding GmbH, Vilofoss A/S, Kemin Industries Inc., Novus International Inc., Trouw Nutrition International B. V., Adisseo France SAS, Evonik Industries AG, Phibro Animal Health Corporation, Pancosma SA, Nutriad International NV, Huvepharma AD, Anpario plc, NutriQuest LLC, DuPont de Nemours Inc., J. D. Heiskell & Company Inc.
Asia-Pacific was the largest region in the feed premix market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the feed premix market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the feed premix market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The feed premix market consists of sales nucleotides, trace elements, and other functional ingredients. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.