Feed Premix Market to be Dominated by Compound Animal Feed through 2028
Global Feed Premix market is
expected to grow in the forecast period 2024-2028 due to increasing demand for
compound animal feed.
According to TechSci Research report, “Feed Premix Market - Global Industry
Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, Global
Feed Premix Market is anticipated to upsurge at an impressive rate in the
forecast period 2024-2028. A significant factor
fueling the growth of the Global Feed Premix Market
due to increasing demand for compound animal feed. Additionally, advancement in
the properties of feed ingredients will lead to improved properties of feed
premixes during consuming livestock as it provides additional benefits such as
improving health and maximizing production which further fuel the growth of
Global Feed Premix Market.
For instance, in December 2021,
BASF developed Natupulse TS, a revolutionary feed enzyme to release priceless
nutrients and help in increasing the feed's digestibility.
Furthermore, the market is being
further stimulated by the growing demand for livestock-based products, as well
as growing concern regarding the animal wellness and health.
However, lack of awareness about
feed premix with livestock can slow down market growth. Also, high cost of feed
ingredients and government stringent regulations can further slowdown market
growth.
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Global Feed Premix Market is segmented based on ingredient type, livestock,
form, and region.
Based on ingredient type, the market is categorized
into antibiotics, vitamins, amino acids, minerals, and others. Amino Acids are expected to hold the largest market share in the
forecast period, 2024-2028. As they help in increasing production and reduce
incidences of diseases in animals.
Based on livestock, the market is fragmented into poultry, ruminants,
swine, aquatic animals, and others. Poultry is expected to hold the largest
market share in the forecast period, 2024-2028. This is due to its low
production cost and high demand among customers.
Based on form, the market is segregated into dry
and liquid. Dry segment will experience the highest market share during the
forecast period, 2024-2028. Due to its convenient storage and packaging, longer
shelf life, and easy to use features.
Major companies operating in the Global Feed Premix Market are:
- Koninklijke
DSM N.V.
- BASF SE
- Nutreco
N.V.
- Cargill,
Incorporated
- Purina
Animal Nutrition LLC.
- Kemin
Industries, Inc.
- Alltech,
Inc.
- The
Archer-Daniels-Midland Company
- Godrej
Agrovet Limited
- BEC Feed
Solutions Pty Ltd
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“Asia Pacific region is expected to grow at the highest rate during the
forecast period due to increasing
shift toward a systematic and industrialized production of livestock. Additionally, increasing compound animal feed industry, growing
economy, increasing demand for pet food supplementation creates lucrative
opportunities for market growth. Furthermore, in North America, quick adoption
of technologically and efficient advanced farm management procedures by the
livestock farmers can create huge prospects of market growth during the
forecast period,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
“Feed Premix Market- Global
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By
Ingredient Type (Antibiotics, Vitamins, Amino Acids, Minerals, Others), By
Livestock (Poultry, Ruminants, Swine, Aquatic Animals, Others), By Form (Dry,
Liquid), By Region and Competition, has evaluated the future
growth potential of global Feed Premix market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Feed Premix Market.”
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