The global animal feed premix market size is estimated to expand at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to increasing demand of high value animal protein.
A premix is an enhancing nutritious value for livestock feed consisting of minerals, vitamins, diluents, medicaments, feed supplements, and other nutrients. The premix feed is mainly made from two or more kinds of nutritional additives mixed with the diluent or carrier in a certain portion. Feed premix improves the accuracy of mixing and distribution of additives throughout the feed for proper mixing of the feed additives in the final feed.
The Covid-19 pandemic affected the demand and supply of the global animal feed premix market because of lockdown in various countries. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- The rising awareness about health consciousness among the people and increasing demand of high value meat and dairy protein is estimated to drive the animal feed premix market.
- Government standardization about the meat products owing to disease outbreak is projected to drive the animal feed premix market during the forecast period.
- Research and development in the natural ingredients have enhanced the market.
- Uses of antibiotics in livestock and poultry industry as a feed additive ban in different countries are estimated to hamper the market.
- Increasing cost of feed ingredient is hampering the global animal feed premix market.
- The rising demand for feed premix in the developing countries is estimated to fuel the animal feed premix market during the forecast period.
Scope of the Report
The report on the global animal feed premix market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Animal Feed Premix Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Ingredient types (Antibiotics, Vitamins, Antioxidants, Amino Acids, Minerals, and Others) and Animal types (Ruminant Feed, Poultry Feed, Swine Feed, Aquaculture Feed, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Cargill, Incorporated; Archer Daniels Midland Company (ADM); Dansk Landbrugs Grovvareselskab A.M.B.A. (DLG); BASF SE; Land O’Lakes, Inc.
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Market Segment Insights
The amino acids segment is expected to grow at a rapid pace
Based on ingredient types, the global animal feed premix market is divided into antibiotics, vitamins, antioxidants, amino acids, minerals, and others. The amino acids segment is expected to grow at a rapid pace during the forecast period due to increasing consumption and awareness of nutritious and healthy meat, eggs, and dairy products. The amino acids are building a block of protein that is essential to the animal development and increasing quantity of meat. However, the minerals segment is expected to expand at a substantial rate during the projected period owing to increasing demand of micro minerals for avoiding various diseases.
The poultry feed segment is projected to expand at a considerable CAGR
On the basis of animal types, the market is segregated into ruminant feed, poultry feed, swine feed, aquaculture feed, and others. The poultry feed segment is projected to expand at a considerable CAGR during the forecast period due to increasing demand of poultry meat all over the world. India and some Islamic countries have low consumption of livestock meat due to the religious belief. On the other hand, the ruminant segment is anticipated to account for a major share during the forecast period due to the increasing consumption and production of cattle.
Asia Pacific is anticipated to dominate the market during forecast period
In terms of regions, the global animal feed premix market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a key market share during the projected period owing to developed animal husbandry and increasing awareness about the animal health and nutritious added value.
Segments
Segments Covered in the Report
The global animal feed premix market has been segmented on the basis of
Ingredient Types
- Antibiotics
- Vitamins
- Antioxidants
- Amino Acids
- Minerals
- Others
Animal Types
- Ruminant Feed
- Poultry Feed
- Swine Feed
- Aquaculture Feed
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Cargill, Incorporated
- Archer Daniels Midland Company (ADM)
- Dansk Landbrugs Grovvareselskab A.M.B.A. (DLG)
- BASF SE
- Land O’Lakes, Inc.
Competitive Landscape
Key players competing in the global animal feed premix market include Cargill, Incorporated; Archer Daniels Midland Company (ADM); Dansk Landbrugs Grovvareselskab A.M.B.A. (DLG); BASF SE; Land O’Lakes, Inc.
These key players are constantly implementing several marketing strategies such as merger & acquisitions, capital investments, partnerships, and new product development to sustain industry position in the market.
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