Global feed premix market. The analysts estimate that the market is valued at USD 21.5 billion in 2019 and is likely to surpass the value of USD 31 billion by 2025 at a projected CAGR of 6.4%.
Global Feed Premix Market: An Overview
According to the Food and Agriculture Organization of the United Nations, livestock contribute to 40% of the global value of agricultural output. Additionally, the income generated from livestock supports livelihood of nearly 1.3 billion people. Moreover, it continues to occupy more and more space for agricultural production, thanks to growing demand for meat globally. Currently, livestock occupies about 80% all agricultural land around the world, and presents a major concern for production, as well as environmental sustainability. The supply of feed crops does very little to meet the growing demand for milk, meat, and other animal products. Currently, only one-third of agricultural land is dedicated to production of animal feeds around the world.
On the other hand, according to the American Feed Industry Association, feed ingredients worth $20 bn are purchased each year to meet the growing demand for animal nutrition. The products for animal livestock nutrition differ significantly from beet pulps to orange rid among others. The competitiveness of the feed industry continues to surprise analysts as small farmers with in-house mill production continue to make competitive gains with national conglomerates. In 2011, over 734.5 million tons of feed was produced around the world.
Premix represent a significant portion of the total valuation feed additives with micro ingredients like minerals, vitamins, chemical preservatives, fermentation products, antibiotics, and other ingredients. Due to strong demand from both national conglomerates, and small farmers alike, the premix market represents one of the most competitive, and lucrative trade in the global feed market. The products are essential to ensure farmers can deliver much needed nutrition to their livestock, as guided by the Veterinary Feed Directive.
Global Feed Premix Market: Key Trends
According the latest data from Food and Agriculture Organization of the United Nations (FAO), the global meat production will rise by 25% by 2025. The strong growths in demand for meat, driven by rising disposable income in emerging regions of Asia Pacific, and changes in conventional lifestyle are expected to emerge as major drivers for growth.
Additionally, the FAO also estimates that the global meat production will surge by 16% by 2025. The rising demand for poultry in China, and globally will be a key driver of growth. Additionally, lower production costs, and reducing tariffs for agricultural goods raise demand for key products like poultry in both developing, and developed world. The production for poultry in 2017, stood at 120 million tons globally.
Based on the promising forecasts from various different sources, ZMR analysts predict the global feed premix market will reach a market valuation of $31 bn by 2025. The market stood at a modest valuation of $21.5 bn in 2019, and will grow at 6.4% CAGR during 2019-2025 forecast period.
Global Feed Premix Market: Segmentation
The global feed premix market report is segmented on the basis of livestock into ruminants, poultry, equine, pets, aquatic animals, and swine. Additionally, the report will also cover various different types of premixes including antibiotics, vitamins, amino acids, antioxidants, minerals, and others. By end-use, the report will cover food industry, nutraceuticals, and dietary supplements. The global feed premix market report will also cover all regions of the globe including North America, Asia Pacific, Europe, Latin America, and Middle East & Africa.
Global Feed Premix Market: Regional Analysis:
The global feed premix market is likely to grow at a robust CAGR in most regions. However, Asia Pacific region will remain the highlight during the forecast period, thanks to growing demand for in Japan, India, South Korea, and China. The region will likely register the highest CAGR during the forecast period. Additionally, the region also promises to emerge as a key producer of meat during the forecast period, which will shift the current dynamics in the global market.
Global Feed Premix Market: Competitive Analysis
The global feed premix market remains a competitive, and fragmented landscape. The large number of small and large players alike promise to make it an innovative, and price-sensitive landscape during the forecast period. Additionally, the growing shift in meat production in the global landscape will provide further opportunities for key players during the forecast period. Some key players in the global feed premix market are DLG Group, Cargill, ADM, Nutreco N.V., and Koninklijke DSM.
The global feed premix market is segmented as follows:
By Type (Value)
By Livestock (Value)
The global feed premix market was valued at $21.5 bn in 2019.
The global feed premix market will reach a valuation of $ 31 bn by 2025.
The global feed premix market will grow at a promising 6.4% CAGR during 2019-2025 forecast period.
The Asia Pacific region will likely witness the highest growth, thanks to rising demand for meat products, and production in India, and China.
Some key players in the global feed premix market are DLG Group, Cargill, ADM, Nutreco N.V., and Koninklijke DSM.