The primary factor driving factors of the global Feed Premix Market are increasing meat consumption across the world, mass production of meat coupled with increasing demand for quality beef.
Rising awareness among the farmers about the benefits of feed ingredients is also anticipated to propel the growth of the global feed premix industry. Additionally, the growing population in developing countries has increased the demand for ruminants and other livestock, which has uplifted the need for feed premix in the market.
However, the growing cost of raw materials and regulatory structure are restraining the growth of the animal feed premix market. Lack of product awareness also affects the overall industry and impact feed premix market price trend.
The global animal feed premix market is segmented on ingredients such as Vitamins, Amino Acids, Antioxidants, Antibiotics, Minerals, and Others.
Among them, Vitamins segment accounted for the largest market share followed by minerals segment. Minerals and vitamins have been gaining substantial growth for serving as an essential component in boosting the growth of the livestock and in the development of the immune system.
Importance of trace minerals such as zinc, manganese, iodine, and selenium for its functional benefits resulted in the steady growth of this segment along with vitamins.
Geographically, the global Feed Premix Market is segmented into Asia-Pacific, North America, South America, Europe, and RoW. Among all the regions, the Asia Pacific region is observed to be witnessing lucrative growth rate.
Due to the growing compound animal feed industry. In the Asia Pacific region, China is the principal contributor to Feed Premix Market. Due to changing consumption pattern, increasing awareness level amongst feed customers, industrialization of the livestock sector, incidences of counterfeit meat and the ban on antibiotics as growth promoters.
Additionally, increasing consumption of poultry & Meat products and a rapidly growing population in India, China, and Japan is giving a push to the growth of the feed premix market. Europe and Africa are expected to increase steadily due to the increasing importance of animal health and wellness in the animal husbandry industry.
The global Feed Premix Market products are fragmented with a large number of local and international players. However, InVivo NSA, BIOMIN America Inc, and Cargill, Inc. are the leading suppliers of feed premixes in the world. These three Companies combine holds around 20% of the total market.
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