Feed premixes contain complex compounds including minerals, vitamins, and amino acids. Ideally, there should be two or more of these compounds in the feed premix. Premix feeds provide direct nutrition for animals. Consumers choose to feed animals with feed premix that comprises all the micronutrients in large quantities. This helps the animals get proper nutrition and nourishment. Feed premix is added to animal feed for better consumption as it maximizes the effectiveness of feed additives in ensuring the homogenization of final feed by improving feed mixing and distribution accuracy.
The global trend of increasing demand and consumption of livestock-based products such as meat, eggs, dairy, and dairy-based products is the key driving factor for the growth of the global feed premix market. Further, growing consumer inclination towards animal-sourced protein owing to increasing consumer awareness about the benefits of nutrients especially protein and minerals contributes to the market growth. Also, increase in demand for compound animal feed and rising awareness related to the safety of meat products enhance the demand for feed premix. In addition to this, manufacturers have improved their quality and safety while preserving their cost-effectiveness in response to the growing demand for safe and nutritious animal feed.
It is possible to improve animal performance, growth, productivity, and various other benefits by feeding animal feed with feed premixes. All such factors are fostering the growth of the global market. Furthermore, increasing transparency in the supply chain of animal proteins and rising demand in an emerging market are projected to generate beneficial opportunities to the feed premix market in the forecast period. However, stringent regulatory norms for food safety and an increase in the cost of feed ingredients are expected to hamper the demand for feed premix market growth.
The global feed premix market is divided based on form, product type, and region. Based on the form, the global market is split into antioxidants, antibiotics, amino acids, minerals, vitamins, and others. The product type segment consists of liquid and dry.
Geographically, North America region is expected to lead the global feed premix market over the forecast period. The presence of leading manufacturers in this region is primarily boosting the feed premix market growth. However, Asia Pacific region might overtake North America and hold the largest share in the global feed premix market. Factors such as the growing compound animal feed industry, growing economy, and increase in investments from leading players in the region is propelling the market growth. Further, increasing demand for pet food supplementation in emerging and developing markets such as Indonesia, India, China, and Thailand is triggering the market growth in the Asia Pacific region.
Koninklijke DSM N.V., Archer Daniels Midland Company, Nutreco N.V., Phibro Group, DLG Group, InVivo Nutrition Et Sante Animales, Cargill Inc, AB Agri Ltd., Alltech, Inc. and Purina Animal Nutrition LLC are some of the major players that are operating in the global feed premix market.
In November 2020, Koninklijke DSM N.V. inaugurated a new Animal Nutrition & Health premix plant in China, demonstrating the company’s strong commitment to China.
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