The North America ruminant feed premix market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 3.4% during 2023–2031. The growth of market is attributed to expanding animal production industry accompanied by ever-growing population and demand for meat and dairy products.
Nutritional deficiencies make animals vulnerable resulting in causing diseases and deaths which are encouraging farmers to use the premix that provide animals the essential nutrients those they required.
The premix feeds comprises of minerals, amino acids, antibiotics, and vitamins. Feed premix improves the composition of mixture and distribution of these additives throughout the end of the feed to make sure provides a homogenization of the additive to the very last feed.
The increasing demand for balanced feed premixes such as micro and macro nutrient is estimated to grow at a rapid pace during the forecast period. Up-gradation in technology in feeding activities, changing regulatory environment, and several other benefits associated with the use of animal feed premix drives the market.
COVID-19 affected moderately the feed premix market. However the growing concern to get affected by the virus due to consuming animal meat during the COVID pandemic has projected high market prospects. The feed premix helps boosting the immunity of cattle’s, thus the addition of premix in the feed increases the nutritional composition in it, which estimates in demand hike.
Market Trends, Drivers, Restraints, and Opportunities
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Increasing meat and dairy product consumption is expected to drive the market during the forecast period.
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Rapid growth in animal production industry is estimated to propel the market during projected period.
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Lack of nutrient and deficiency in animals resulting in unusual deaths and diseases is anticipated to spur the market in the coming years.
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Increasing demand for animal protein is expected to fuel the market during the forecast period.
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R&D and technological advancement in feeding activities and beneficial factor involved with feed premixes offers an immense opportunities for the players in the market.
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Increase consumption of beef meat and dairy products is expected to elevate the market in the coming years.
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Growing awareness among the livestock farmers about the benefits of feeding livestock with a proper diet is anticipated to ascend the market growth.
Scope of North America Ruminant Feed Premix Market Report
The report on the North America ruminant 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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Ruminant Feed Premix Market – North America Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Ingredient Type (Amino Acids, Antioxidants, Vitamins, Antibiotics, Minerals, and Others)
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Geographical Scope
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Canada, United States, Mexico, Rest of North America
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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, Incoporated; Elanco; ADM Animal Nutrition; Alltech; Nutreco N.V.
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North America Ruminant Feed Premix Market Segment Insights
The vitamins segment is expected to hold the key share of the market
Based on the ingredients types, the market is segregated into amino acids, antioxidants, vitamins, antibiotics, minerals, and others.
The vitamins segment is expected to hold the key share of the market during the forecast period due to growing number of commercial livestock farms the demand for the feed premix increased gradually, also improvement in the immunity system and uplift their growth phenomenon of the livestock exhibiting significant growth of the segment.
The United States is estimated to dominate the market
In the terms of regions, the market is categorized into Canada, United States, Mexico, and Rest of North America. The United States is estimated to dominate the market in the coming years owing to its growing number of dairy and beef industry in the country and its per capita consumption which encourages the animal production, which gradually drives the North America premix feed market, along with growing awareness about the premix feed.
Segments
The North America ruminant feed premix market has been segregated on the basis of
Ingredients Types
- Amino Acids
- Antioxidants
- Vitamins
- Antibiotics
- Minerals
- Others
Geographies
- Canada
- United States
- Mexico
- Rest of North America
Key Players
Competitive Landscape
Key players competing in the North America ruminant feed premix market include Cargill, Incorporated; Elanco; ADM Animal Nutrition; Alltech; Nutreco N.V.
Some of these players are targeting on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares. For instance
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In January 2021, Cargill, Incorporated set a new benchmark for premix production with the opening of new premix and nutrition facility in Ohio.
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In May 2021, Elanco launched product for U.S. poultry producers providing a flexible option for Cocci control.
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