Market Research Future Insights:
By 2030, the market for feed premixes is anticipated to grow at a CAGR of 15.06% and reach USD 19.222199 Billion.
Due to growing concerns about animal health, feed manufacturers all over the world are seeing an increase in demand for feed premixes. The widespread consumption of livestock byproducts including meat, leather, fur, milk, and eggs is motivating farmers to provide their animals diets that are high in nutrition. The demand for feed premixes is rising due to the significance of proper nutrition in animal diets for high-quality production.
With the biggest predicted market share over the study period, China is one of the top markets in the area. However, the Indian market is anticipated to develop at the greatest rate throughout the projection period, at 4.30%. The manufacture of feed premixes has increased as a result of feed industry advancements. The region's high level of poultry farming and the rising popularity of feed premixes due to their nutritional advantages are likely to boost their sales. To increase their market share in the area, feed premix manufacturers are launching new formulations.
It is anticipated that the largest market for feed premixes will be in Asia-Pacific. In 2020, Europe accounted for a sizable portion of the world market for feed premixes. The markets for European feed premixes are primarily driven by Germany, France, Spain, and Russia. Sales of feed premixes are expanding in the area due to rising pig and horse husbandry, as well as rising industrial livestock demand for goods including milk, leather, and meat.
Additionally anticipated to hold a sizeable portion of the global feed premixes market, North America is anticipated to experience moderate regional market growth over the course of the forecast year. The high output of chicken feed and the feed premix makers' commitment to innovation and product portfolio development are both directly boosting the growth of the feed premix market in the area. Throughout the review period, it is anticipated that the US will continue to dominate the local market. But during the forecast period, the Canadian market is anticipated to have the greatest CAGR.
In 2020, South America held the largest market share in the rest of the world; during the forecast period, the region's market is anticipated to grow at a CAGR of 3.30 percent.
The Feed Premixes Market Research report has also been broken down by location, livestock, and ingredient type.
The market for feed premixes has been segmented by ingredient type into vitamins, minerals, amino acids, lipids, and others. The lipids segment is anticipated to increase at the quickest rate throughout the forecast period, while the vitamins sector had the majority of the market share in 2020. On the basis of livestock, the market for feed premixes has also been divided into segments for poultry, ruminants, swine, aquaculture, and others. The aquaculture section is anticipated to develop at the fastest rate during the study period, despite the fact that the poultry segment dominated the market in 2020.
In the global Feed Premixes Market Report, some of the major companies are Cargill, Incorporated (US), Archer Daniels Midland Company (US), Nutreco N.V. (Netherlands), Koninklijke DSM N.V. (Netherlands), Koninklijke De Heus B.V. (Netherlands), Land O'lakes, Inc. (US), ForFarmers N.V. (Netherlands), Dansk Landbrugs Grovvaresel.