Global Feed Premix Market to Reach US$ 26.6 Billion by 2028, Propelled by Escalating Demand for Livestock-Based Products

November 28, 2022

The latest report by IMARC Group, titled “Feed Premix Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the global feed premix market size reached US$ 19.5 Billion in 2022. A feed premix is a mixture of two or more varieties of nutritional additives containing vitamins, medicaments, trace minerals, and diluents. It is prepared by selecting raw materials that provide a powerful component to the feed for ensuring balanced meals for animals. It also helps optimize diet compositions and improve modern poultry production. In addition, it assists in enhancing the crucial body functions of animals, such as growth, fertility, performance, and immunity, and maintaining the acid-base balance and osmotic pressure. As a result, feed premix is widely utilized for cattle feeding across the globe.

Global Feed Premix Market Trends:

The market is primarily driven by the escalating demand for livestock-based products to provide various micronutrients to animals. In addition, the growing awareness among consumers about the benefits of feed premixes represents another major growth-inducing factor. Besides this, the market is also propelled by various technological advancements in the production of feed premixes. Moreover, key players are investing in research and development (R&D) activities to introduce nutrient-dense animal feed while maintaining cost-effectiveness. This, coupled with the growing popularity of compound feeds that offer essential nutrients to animals according to different physiological requirements and growth stages, is positively influencing the market growth. Furthermore, the increasing concerns about animal health and wellness, the escalating demand for chemical-residue-free meat and milk products, and the declining feed conversion rates are some of the other factors creating a favorable market outlook across the globe. Looking forward, IMARC Group expects the market to reach a value of US$ 26.6 Billion by 2028, exhibiting a CAGR of 5.1% during the forecast period (2023-2028).

Market Summary:

  • Based on the ingredient type, the market has been categorized into amino acids, vitamins, minerals, antibiotics, antioxidants, and others.
  • On the basis of the form, the market has been bifurcated into dry and liquid.
  • Based on the livestock, the market has been classified into poultry, ruminants, swine, aquatic animals, equine, and pets.
  • Region-wise, the market has been divided into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has been examined in the report, with some of the key players being Alltech, Archer-Daniels-Midland Company, Associated British Foods plc, Avitech Nutrition Pvt. Ltd, Cargill Incorporated, Charoen Pokphand Foods PCL, Dansk Landbrugs Grovvareselskab A.M.B.A., De Heus Animal Nutrition B.V., Kemin Industries Inc., Koninklijke DSM N.V., Lexington Enterprises Pte. Ltd., Novus International Inc. and Nutreco N.V. (SHV Holdings).

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Global Feed Premix Market to Reach US$ 26.6 Billion by 2028, Propelled by Escalating Demand for Livestock-Based Products
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