REDDING, Calif., July 1, 2021 /PRNewswire/ -- According to a new market research report "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 Forecasts to 2028", published by Meticulous Research, the feed premix market is expected to grow at a CAGR of 3.7% from 2021 to 2028 to reach $12.2 billion by 2028.
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Feed premix/premixtures are mixtures of feed additives or mixtures of one or more feed additives with feed materials or water used as carriers, not intended for direct feeding to animals. A premix is intended for incorporation in compound feeding stuff, feed materials, or water. The function of a premix is to optimize the mixing of feed additives in feeding stuff.
The growth of the overall feed premix market is mainly attributed to the 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. Additionally, the emergence of developing countries as strong consumers for the feed application is expected to provide significant growth opportunities for feed premix providers in the coming years. However, the regulatory structure and intervention and technical problems during storage and handling procedures are expected to hinder the growth of this market to some extent.
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Based on type, the feed premix market is segmented into combination premixes, vitamin premixes, mineral premixes, amino acids premixes, nucleotide premixes, fiber premixes, nutraceutical premixes, and other premixes, such as probiotics, botanical extracts, and phytonutrients, among others. In 2021, the combination premixes segment is expected to account for the largest share of the overall feed premix market. 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. In 2021, the powder segment is expected to account for the largest share of the overall feed premix market. 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.
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Based on application, the feed premix market is segmented into poultry feed, ruminant feed, swine feed, aquafeed, and other feed applications. In 2021, the poultry feed segment is expected to account for the largest share of the overall feed premix market. The large share of this segment is mainly attributed to the large 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 witness a rapid growth 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.
The global feed premix market is divided into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. In 2021, the Asia-Pacific region is expected to account for the largest share of the global feed premix market. The large share of this region is mainly 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.
The key players operating in the global 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) among others.
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Scope of the Report
Feed Premix Market, by Type
- Combination Premixes
- Vitamin Premixes
- Mineral Premixes
- Amino Acid Premixes
- Nucleotide Premixes
- Fiber Premixes
- Nutraceutical Premixes
- Other Premixes
Feed Premix Market, by Form
- Powder
- Liquid
Feed Premix Market, by Application
- Poultry Feed
- Ruminant Feed
- Swine Feed
- Aqua Feed
- Other Animal Feed
Feed Premix Market, by Geography
- Asia-Pacific
- China
- India
- Japan
- Australia
- Vietnam
- Philippines
- Indonesia
- Thailand
- Malaysia
- South Korea
- Myanmar
- Taiwan
- Rest of Asia-Pacific (RoAPAC)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe (RoE)
- Latin America
- Brazil
- Mexico
- Rest of Latin America (RoLATAM)
- Middle East & Africa
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