The global feed premix market was worth 6.37 billion USD in 2016 and is expected to reach 7.79 billion USD by 2022, growing at a CAGR of 3.4% during the forecast period of 2016 to 2022.
The growth is attributed to continuous rise in demand for feed premix in the domestic market. Feed Premix refers to the substance which is mixed at an early stage in the manufacturing process. It is usually mix in advance.
Feed premixes consist of one or a dozen different feed additives mixed with dilatants that facilitate the rate of mixing. Vitamins minerals are the major types of additives added to premixes. The main function of a feed premix is to ensure uniformity and homogeneity in feed for better nutrient availability.
North America and Asia are the major producers as well as consumers, accounting for around 60% of the global market in 2016. While the U.S. and China lead the production, India, China and Brazil are the fastest growing markets in terms of consumption.
Factors like increasing meat consumption globally, mass production of the meat along with requirement for quality of meat is driving the feed premix market globally. However, on the other hand, increasing raw material cost and lack of customer awareness is hindering the growth of the market.
Top 2 companies in the industry hold around one-fourth of the market share. The companies in the industry are focused on the development of feed premix products that include vitamins, minerals, and amino acids. Animal nutrition group, Neovia has acquired Apligen, a Mexico based company specializing in the production of premix, specialty feed, and additives.
In 2017, Archer Daniels Midland (ADM) continues to expand its Animal Nutrition footprint in China with the construction of a new feed-premix facility in Xiangtan, in the Hunan Province of central China, and the addition of aquaculture feed production lines at its existing Nanjing complex in Jiangsu Province, eastern China.
Increasing awareness of the customers on the health and hygiene of livestock is one of the factors creating opportunities for Feed Premix market. Feed premix products provide a healthy nutrition, increase the metabolic rate, and increase the healthiness to livestock. Leading companies and increasing their global footprints by setting up plant to increase their production capacities.
Key Topics Covered:
1. Our Research Methodology Executive Summary
2. Market Overview
Feed Premix - Segmentation
Power of Suppliers
Power of Consumers
Threat from new entrants
Threat from subsititutes
Rivalry in the industry
3. Market Dynamics
Growing awareness on Food securit
Increasing Raw material costs
Improving productivity through M&As
4. Feed Premix Market Segmentation, Forecasts and Trends - by Revenue