Northbrook, IL 60062 -- (SBWire) -- 08/14/2023 --The feed premix market, as detailed in the report titled "Feed Premix Market by Ingredient Type, Livestock, Form, and Region - Global Forecast to 2026", is projected to experience substantial growth over the forecast period. The market's value is anticipated to increase from USD 24.3 billion in 2021 to approximately USD 32.9 billion by 2026, showcasing a notable Compound Annual Growth Rate (CAGR) of 6.2%.
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Segmented into ingredient types such as vitamins, minerals, amino acids, antibiotics, antioxidants, and others, amino acids are anticipated to hold the largest market share during the forecast period. The consumption of amino acid feed premixes is particularly strong in the Asia Pacific region, with markets like China and India benefiting from increased domestic production of amino acids like lysine, contributing to lower costs.
The dry form of feed premixes is expected to dominate the market, owing to its enhanced stability, easy handling, storage convenience, and versatility for use across various products. The Asia Pacific region, especially countries like India and China, witnessed significant demand for feed premixes in the dry segment, driven by the growing trend of food fortification and increased demand in the feed industry.
In terms of livestock, poultry is predicted to account for the largest market share during the forecast period. The global rise in poultry production and consumption emphasizes the need for improved meat quality. This trend drives the utilization of feed premixes like vitamins, minerals, and amino acids in poultry feed for enhanced quality and production.
Geographically, the Asia Pacific region is set to hold the largest market share due to heightened consumer awareness about meat quality and increased meat consumption. The region's emphasis on livestock rearing, especially for pork and poultry, further underscores the importance of quality feed to enhance livestock productivity and performance.
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The report provides insights into the marketing and development strategies of key market players, offering profiles of prominent companies operating in the feed premix sector. These companies include Koninklijke DSM N.V. (Netherlands), Nutreco N.V. (Netherlands), Cargill (US), Archer Daniels Midland Company (ADM) (US), BEC Feed Solutions (Australia), DLG Group (Denmark), Charoen Pokphand Foods PCL (Thailand), Land O'Lakes (US), and AB Agri Ltd. (UK).
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Global Feed Premix Market Expected to Reach USD 32.9 Billion by 2026, Fueled by Growing Demand for Quality Animal Nutrition
Feed Premix Market by Ingredient Type (Vitamins, Minerals, Amino Acids, Antibiotics, Antioxidants), Livestock (Poultry, Ruminants, Swine, Aquatic Animals, Equine, and Pets), Form (Dry and Liquid), and Region - Global Forecast to 2026