New York, March 31, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Feed Premix Global Market Report 2023" - https://www.reportlinker.com/p06313412/?utm_source=GNW
, Nutreco NV, AB Agri Ltd., Agrofeed Ltd., Avitech Nutrition Pvt Ltd., DSM Austria GmbH (Biomin), Beijing Da Bei Nong Science and Technology Group Co Ltd (DBN Group), Burkmann Industries Inc., Purina Animal Nutrition LLC and Hi-Nutrients International Limited.
The global feed premix market grew from $19.2 billion in 2022 to $20.63 billion in 2023 at a compound annual growth rate (CAGR) of 7.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The feed premix market is expected to grow to $30.12 billion in 2027 at a CAGR of 9.9%.
The feed premix market consists of sales nucleotides, trace elements, and other functional ingredients.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Feed premix refers to a mixture of one or more feed additives that are included in the diet of livestock animals and are not intended for direct consumption.Premix includes vitamins, trace minerals, medicaments, feed supplements, and diluents as its constituents.
It’s a value-added solution for feeds with long-term quality and safety.
Asia-Pacific was the largest region in the feed premix market in 2022.North America is expected to be the fastest-growing region in the forecast period.
The regions covered in the feed premix market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of feed premix are amino acids, antioxidants, antibiotics, vitamins, minerals and others.The amino acids feed premix contains L-lysine, DL-methionine, and L-threonine which improves the synthetic efficiency of protein.
The availability of those components permits a user to anticipate an increase in protein synthesis efficiency. The feed premix are available in two form namely dry and liquid and are used by livestock such as ruminants, swine, aquatic animals, poultry and pets.
The increase in the demand and consumption of livestock-based products is expected to propel the growth of the feed premix market.Livestock-based products comprise eggs, dairy products, and meat products.
Adding feed premix to the livestock’s diet helps in providing sufficient vitamins and minerals and enhances nutrition and better production of livestock-based products such as milk.An increase in the adoption and consumption of dairy and meat products is increasing the sales of livestock-based products which is driving the demand for feed premix.
For instance, according to the U.S. Department of Agriculture (USDA) data, dairy consumption in America, in 2020, was around 655 pounds of dairy in milk, yogurt, cheese, butter, ice cream, and other wholesome and nutritious dairy foods, which is an increase of 3 pounds per person from 2019. Therefore, an increase in the demand and consumption of livestock-based products will drive the growth of the feed premix market.
The development of a new feed ingredient is a key trend gaining popularity in the feed premix market.Advancement in the properties of feed ingredients will lead to improved properties of feed premixes which will benefit the consuming livestock.
These new feed ingredients provide additional benefits such as improving health and maximizing production.For instance, in December 2021, BASF, a Germany-based chemical company, developed Natupulse TS, a revolutionary feed enzyme to release priceless nutrients.
A non-starch polysaccharide (NSP) enzyme is Natupulse® TS.It hydrolyzes -mannans into smaller components, such as manno-oligosaccharides, as an endo-1,4--D-mannanase (MOS).
When -mannanase is added to the feed, the digesta viscosity is reduced, the feed’s digestibility is increased, and a more sustainable output is ensured.
In October 2020, Royal DSM, a Dutch company involved in the fields of health, nutrition, and materials acquired Erber Group for USD 1.04 billion. This acquisition is expected to strengthen DSM’s experience and reputation as a leading provider of nutrition solutions for animals and will also help in reducing emissions, feed utilization efficiency, and enhancing water and land utilization. Erber Group is an Austrian company involved in the animal nutrition and health business.
The countries covered in the feed premix market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The feed premix market research report is one of a series of new reports that provides feed premix market statistics, including feed premix industry global market size, regional shares, competitors with a feed premix market share, detailed feed premix market segments, market trends and opportunities, and any further data you may need to thrive in the feed premix industry. This feed premix market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06313412/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
