New York, US, Aug. 26, 2021 (GLOBE NEWSWIRE) -- Feed Premixes Market Overview
According to a comprehensive research report by Market Research Future (MRFR), “Feed Premixes Market Information by Ingredient Type, Livestock, Crop Type and Region - Forecast till 2027”, the market is estoimated to reach USD 19.75 Billion by 2027 at 5.6% CAGR.
Primary Growth Boosters
Livestock-based products including dairy & dairy-based items, eggs, and meat enjoy a huge demand worldwide, which ultimately foster the use of feed premixes to enhance their quality. The major focus currently is on the development of livestock and farm animals. The FAO data reveals that the total meat production would be 18% higher by 2026. Poultry meat notes the highest demand among consumers and is the major growth booster for the total meat production. Even the low production costs and the high protein content add to the appeal of poultry meat, bolstering its demand in both developed and developing nations.
The escalating awareness level among people about the dynamics of different food nutrients, particularly protein, importance of mental and physical growth has raised the propensity towards animal-sourced protein such as meat, milk, and eggs. These factors are expected to be favorable for the feed premixes industry in the next several years.
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Competitive Landscape
The profiled industry contenders in the report are
- Cargill Incorporated
- Archer Daniels Midland Company (ADM)
- Dansk Landbrugs Grovvareselskab A.M.B.A. (DLG)
- BASF SE
- Land O'Lakes, Inc.
- Godrej Agrovet
- Koninklijke DSM N.V
These manufacturers strive to bolster their worldwide reach by coming up with high quality products, aimed at grabbing the attention of a higher number of end-users as well as consumers. Some of the top strategies adopted by these contenders are partnerships, collaborations, business expansion, and acquisitions. To cite an instance, in July 2021, Royal De Heus, a reputed exporter of feed premixes and concentrates acquired Coppens Diervoeding, a Netherlands-based feed firm. The transaction will include acquisition of the animal feed unit with a total of 400,000-tonne capacity, fostering the company’s overall production capacity. In addition to the newly acquired unit in Helmond, Netherlands, Royal De Heus now owns 10 animal feed units in the Netherlands.
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Market Restraints
Lower knowledge level among poultry owners, particularly in underdeveloped economies could be a big challenge for the major manufacturers in the years to come.
COVID-19 Analysis of Feed Premixes Market
The COVID-19 pandemic’s impact on the global market for feed premix has been moderate, however; the surging health-related fears associated with animal meat have been unfavorable for the business prospects. Feed premixes enjoy steady demand despite the crisis, given the high need to boost animals’ immunity and the escalating demand for nutritional additives in animal feed. Countries across different regions are striving to cope with the impact of COVID-19, while the manufacturers are working on strengthening their supply chains. This should have a healthy effect on the global industry in the following years.
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Market Segmentation
Ingredient type, and livestock are the top segments considered in the MRFR study of the feed premixes industry.
The major ingredient types discussed in the report are minerals, vitamins, lipids, amino acids, and others. The majority share in the global market belongs to the vitamins segment, whereas the fastest progress rate in the future will be achieved by the lipids segment. However, lately the demand for amino acids has escalated significantly, as these facilitate the protein build-up in animals and also help improve the meat quality as well as quantity.
The feed premixes industry, with respect to livestock, covers swine, ruminants, poultry, aquaculture, and others. MRFR analysis identifies poultry as the top segment in the market, while anticipating that the aquaculture segment would register the fastest CAGR in the years to follow. The swine segment will also perform well in the next few years, given the rising consumption of pork in most of the Asian countries. Pork is far cheaper compared to other meat sources, and its fat content, texture, and palatability appeal to the consumers.
Regional Status
North America, Europe, Asia Pacific, and the rest of the world are the primary markets for feed premixes.
The past few years for Asia Pacific have been quite gainful, as the region emerges as the biggest market for feed premixes. The market size seems to be growing relentlessly across nations like India, Thailand, and China, where a variety of feed premixes are experiencing a huge demand. Asia Pacific accounts for a vast share of 35.6% in the global market and will remain the global leader all throughout the appraisal period, thanks to the rising use of capital-intensive, advanced technologies for the industrial production of poultry, pig, and cattle meat. Not to mention, the soaring demand for chemical-free and environmentally safe meat, milk & milk and meat products fostering the need for better productivity has raised the use of feed premixes. Besides, a mounting number of international companies are setting up new plants in these regions, sensing the lucrative opportunities to accommodate the rampant consumer demand.
North America also accounts for a substantial share in the worldwide market, while it is projected that the region could continue to soar at a healthy pace in the future. Constant product innovation and growing product portfolios of the feed premix manufacturers paired with the large-scale manufacturing of poultry feed accelerate the market growth in the region. The most bankable market in the region is the US, while the fastest growth shall be exhibited by Canada.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
