(I-BusinessNews.Com, January 25, 2020 ) The global feed premix market size is estimated to be valued at USD 21.6 billion in 2019 and is projected to reach USD 30.9 billion by 2025, recording a CAGR of 6.2%. The growth of the feed premix market has been increasing due to the active initiatives to improve animal health. Factors such as increasing meat consumption across the globe, mass production of meat, and rising demand for quality meat are the key factors that stimulate the growth of feed premix market around the world. The research and development have enhanced the positive growth rate of the market for natural ingredients.
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By ingredient type, the feed premix industry is segmented into vitamins, minerals, amino acids, antibiotics, and antioxidants. The amino acids segment accounted for the largest share. Amino acids support livestock growth, production, activity, and overall health. They provide the energy required for the growth of bones and muscles and improving muscle movement, digestion, and blood circulation. Furthermore, the addition of amino acids in feed reduces the greenhouse gases generated from animal waste. With the advancements in biotechnology, the cost of production of amino acids has decreased significantly, which is one of the key factors driving the usage of amino acids as feed premix in livestock feed.
Based on livestock, the feed premix market is segmented into poultry, ruminants, swine, aquatic animals, equine, and pets. Poultry birds are majorly consumed for meat and eggs; also, rising consumer preference for colored yolk across the globe is one of the driving factors for the feed premix market. The most commonly used feed premix for poultry are antibiotics, amino acids, vitamins, and minerals.
Based on form, the dry segment dominated the feed premix market in 2019. It has a higher demand among livestock producers, as it is easy to mix with feed, and is easy to store and handle. Additionally, dry premixes are more economical as compared to liquid ones. Amino acids, minerals, antioxidants, and vitamins are a few types of feed premixes that are mostly preferred in dry form.
Feed premixes are mixed with additives and grains such as corn, soybeans, sorghum, oats, and barley. This blend of grains, additives, and other various raw materials is known as ‘compound feed’ for animals. These blends are formulated according to the specific requirements of the target animal. There has been a tremendous increase in the demand for feed premix to improve livestock health. Solutions based on each livestock species have been growing as a rising trend among breeders to maintain a healthy herd population.
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Some of the major players in the feed premix market, such as Nutreco N.V. (The Netherlands), Koninklijke DSM (The Netherlands), Cargill (US), ADM (US), and DLG Group (Denmark). Expansions & investments, mergers & acquisitions, joint ventures, and partnerships were some of the core strengths of the leading players in the feed premix market. These strategies were adopted by the key players to increase their market presence. It also helped them diversify their businesses geographically, strengthen their distribution networks, and enhance their product portfolios.
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