According to a latest market report published by Persistence Market Research titled `Feed Premix Market: Global Industry Analysis 2013–2017 and Forecast 2018–2026`, the feed premix market is expected to reach US$ 9.7 Bn in terms of value by the end of 2018, and is forecasted to reach US$ 13.5 Bn by the end of 2026 in terms of revenue. The global value of the feed premix market is expected to register a growth of 4% in terms of revenue from 2018-2026.
There is tough competition and fragmentation in the global feed premix market. The poultry and ruminants segments are expected to dominate feed premix market when compared to other livestock segments, due to higher coxnsumption of poultry and ruminants by humans. Increased usage of feed premix in poultry is one of the major factors that will have a good impact on the feed premix market. The industrialization of meat and dairy industry is promoting demand for feed premix.
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Globally, the feed premix market is expected to register a high growth rate, due to the awareness regarding the usage of feed premix in animal feed by cattleman and herdsman. There are various uses of feed premix when included in animal feed for the livestock. Feed premix have various nutrients that help in the better nourishment of animals for their growth and maintenance of life. The amino acids segment in the feed premix market is increasing due to various requirements by animals, thereby increasing the demand for feed premix across the globe. The demand for feed premix increases as their consumption increases by livestock. There are certain types of nutrients required by animals, such as macronutrients and micronutrients. Macronutrients are nutrients that are consumed or required in large amounts by the animal body, such as carbohydrates, proteins, and fats. Micronutrients are nutrients that are consumed or required by the animal body in small quantities, such as vitamins, minerals, and amino acids.
There is a high competitive scenario in the market, as there is an increased penetration of organized players in the feed premix market. This will give rise to various innovative feed premix products in the market, also it is expected to drive the growth of the feed premix market throughout the forecast period (2018-2026).
Among the livestock segments, the poultry segment is expected to be dominant in the global feed premix market, with a sales revenue share of 45.3% by the end of 2018, and is expected to go down to 44% by the end of 2026. Followed by poultry, the ruminants segment hold the second-largest share in the feed premix market. The revenue share at the end of 2018 is expected to be 29.7%, and is forecasted to reach 31.1% by the end of 2026. These two sub-segments are expected to hold 50% share in the feed premix market. By type segment, the amino acids segment is expected to hold the largest share in the feed premix market. In 2018, it is estimated to hold 71.6% market share, and by 2026 end, it is expected to go up to 73.8% share in the feed premix market.
Factors Influencing Growth of the Feed Premix Market
The increasing demand for meat and meat products in every region is a major factor that enhances the growth of the feed premix market. There has been a positive correlation between the level of GDP per capita and per capita meat consumption, wherein, countries with higher GDP per capita exhibit a higher meat consumption pattern. With the increase in world population, the demand for food production, overall, has been on the rise as well. Coupled with the rise in GDP per capita in multiple developed regions, the demand for meat and meat products is surging. To satiate the demand for high quality meat products in the market, animal husbandries are opting for nutritional solutions such as feed premix to maximize their outputs. Due to the increased consumption of meat products, there is high demand for feed premix in the market.
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Feed Premix Market: Key Participants
Some of the key players analyzed are Koninklijke DSM N.V., The Archer Daniels Midland Company, Purina Animal Nutrition LLC, Alltech, Inc., Nutreco N.V., Kemin Industries, Novus International, Inc., Zinpro Corporation, Lexington Enterprises Pte. Ltd., Avícola de Tarragona S.A., Neovia SARL, Masterfeeds L.P., Royal Agrifirm Group, Dakahlia Group, LOTUS MINECHEM RESOURCES PVT. LTD., Titan Pharma (India) Pvt Ltd., and Shenzhen Jinxinnong Technology Co., Ltd., among other feed premix manufacturers.