The feed premix market size is projected to grow from US$ 11,732.50 million in 2022 to US$ 17,101.04 million by 2030. The market is expected to record a CAGR of 4.8% from 2022 to 2030.
Market Insights and Analyst View:
Feed premix is a complex mixture of one or more feed additives or nutrients such as amino acids, vitamins, minerals, antioxidants, and antibiotics. These premixes are mixed in feed materials to enhance the nutritional quality of animal feed and to provide essential micronutrients to animals. The demand for feed premixes across the globe is significantly increasing because of the surging demand for compound animal feed and rising awareness regarding the safety of livestock animals. These factors have significantly contributed to the growth of the global feed premix market
Growth Drivers and Challenges:
Industrial livestock production has undergone a significant transformation owing to the increasing demand for meat-based products and dairy products. Animal proteins account for 16% of energy and 34% of the protein in human diets. Livestock production also accounts for ~19% of the value of food production and 30% of the global value of agriculture. The demand for livestock products is driven by changing lifestyles and food preferences, increasing urbanization, growing income, and the rapidly rising world population. These factors significantly contributing to the growing feed premix market across the globe. Moreover, with burgeoning livestock demand, the consumption of protein-rich meat products is surging. Thus, growing consumption of livestock products, such as meat, and increasing milk production have encouraged manufacturers to focus on providing good quality and nutrient-rich feed for livestock. This drives the demand for feed premix as an additive among feed manufacturers and is further expected to propel the feed premix market growth across the globe.
The main causes of the rising demand for feed premixes in developing countries have been population growth, urbanization, and a rise in wages in developing countries. According to the Feed Industry Federation (FIF), compound feed production has reached 1000 million tons annually. This growth in production rate is particularly higher in developing countries than in developed countries. Modernizing livestock farms in developing regions to meet the growing demand for animal protein aids the feed premix market.
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Feed Premix Market: Strategic Insights
Market Size Value in US$ 11,732.50 million in 2022 Market Size Value by US$ 17,101.04 million by 2030 Growth rate CAGR of 4.8% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Feed Premix Market: Strategic Insights
Market Size Value in | US$ 11,732.50 million in 2022 |
Market Size Value by | US$ 17,101.04 million by 2030 |
Growth rate | CAGR of 4.8% from 2022 to 2030 |
Forecast Period | 2022-2030 |
Base Year | 2022 |
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Speak to AnalystReport Segmentation and Scope:
The global feed premix market is segmented based on type, form, livestock, and geography. The market, by type, is segmented into vitamins, minerals, amino acids, antibiotics, antioxidants, blends, and others. Based on form, the market is bifurcated into dry and liquid. Based on livestock, the market is segmented into poultry, ruminants, swine, aquaculture, and others. The feed premix market, based on geography, is segmented into North America (the US, Canada, and Mexico), Europe (Germany, France, Italy, the UK, Russia, and the Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Segmental Analysis:
Based on type, the feed premix market is segmented into vitamins, minerals, amino acids, antibiotics, antioxidants, blends, and others. The blends segment holds a significant share of the market. Animal feed manufacturers usually face difficulty in the dosage of each nutrient in animal feed. Thus, feed additive manufacturers offer a blend of various nutrients that assist animal feed manufacturers with convenience. Premix in the form of a blend is one of the prominent segments as it has a balanced proportion of nutrients and animal feed manufacturers usually prefer a custom blend of feed premixes as an additive for their feed solutions. These factors drive the market growth for the blends segment.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Regional Analysis:
Based on geography, the feed premix market is segmented into five key regions: North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. Asia Pacific dominated the global market; the market in this region was valued at US$ 4,449 million in 2022. The market in North America is expected to register a CAGR of 5.5% during the forecast period. Asia Pacific is the largest producer of animal feed globally. According to Alltech Global, the region produced over 305 million metric tons of animal feed in 2020. Further, the region houses a few major animal stocks farming countries, accelerating the demand for animal feed ingredients such as feed premixes in the region. Moreover, Asia Pacific accounts for the largest human population among all five regions and contains ~60% of the global population. Hence, the region is witnessing strong demand for meat and dairy products, boosting the requirement for livestock production and subsequently favoring the demand for animal feed. The mass consumption of animal feed in the region and growing practices of feeding nutritious feed to livestock drive the feed premix market in the region.
Europe accounts for nearly ~20% of the market share. The feed premix market in Europe is witnessing strong growth due to the growing industrialization of meat production and the increasing demand for nutritional animal feed. Livestock owners are adopting healthy feed ingredients to produce healthy, quality, and nutritious animal meat products. Furthermore, Europe is known for its large variety of animal stocks and high demand for meat. As per the Eurostat (European Union), in 2020, Europe had nearly 146 million pigs, 76 million bovine animals, and 75 million sheep and goat stock. Such a huge stock of livestock animals requires enough animal feed, which is increasing the demand for feed premix. Thus, the mass production of animal feed and its consumption due to growing livestock are boosting the demand for nutritious feed additives such as feed premix. Thus, owing to all the factors mentioned above, the feed premix market is expected to grow significantly in Europe during the forecast period.
Industry Developments and Future Opportunities:
Initiatives taken by key players operating in the feed premix market are listed below:
- In June 2022, Nutreco N.V. received a US$ 4.8 million grant from the Bill & Melinda Gates Foundation to implement sustainable feed production in Sub-Saharan Africa. This will help improve the ESG initiatives of the company.
- In 2021, ADM acquired Vietnamese premix player Golden Farm Production & Commerce Company Limited. This strengthens its industrial and commercial coverage in a key feed market such as Vietnam.
COVID-19 Pandemic Impact:
The COVID-19 pandemic adversely affected almost all industries in various countries. Lockdowns, travel restrictions, and business shutdowns in North America, Europe, Asia Pacific (APAC), South & Central America, and the Middle East & Africa (MEA) hampered the growth of several animal feed manufacturing companies. The shutdown of manufacturing units disturbed global supply chains, production activities, delivery schedules, and essential and nonessential product sales. Various companies witnessed delays in product deliveries and a slump in their product sales in 2020, which hampered the feed premix market. The shortage of workforce, import-export ban, and limited supply of raw materials also led to a halt in operations and processes across the globe during the COVID-19 pandemic. These factors negatively impacted the market growth in the pandemic.
However, in 2021, various economies resumed operations as several governments revoked the previously imposed restrictions, which positively impacted the global marketplace. Moreover, manufacturers were permitted to operate at full capacities, which helped them overcome the demand and supply gaps.
Competitive Landscape and Key Companies:
Danish Agro AMBA, Agrifirm Group BV, Nutreco NV, Archer-Daniels-Midland Co, Cargill Inc, Koninklijke DSM NV, Dansk Landbrugs Grovvareselskab amba, NuSana BV, De Heus Voeders BV, and Kemin Industries Inc are among the prominent players operating in the global feed premix market. These market players adopt strategic development initiatives to expand their businesses, further driving the feed premix market growth.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Form, Livestock, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Based on livestock, the segment is estimated to register the fastest CAGR in the global feed premix market over the forecast period. The growing aquaculture industry and rising awareness about the nutritional requirements of fish and other aquaculture animals boost the segment’s share.
Increasing livestock production and feed fortification the two key factors driving the feed premix market growth.
North America is estimated to register the fastest CAGR in the global feed premix market over the forecast period. The mass production of animal feed in North America and the rise in food safety concerns, especially about meat and dairy products, have led to the increased consumption of nutritional animal feed infused with various nutrients in the form of feed premix in the region.
In 2022, Asia Pacific held the largest share of the global feed premix market. the region is witnessing strong demand for meat and dairy products, boosting the requirement for livestock production and subsequently favoring the demand for animal feed additives such as feed premixes.
Based on type, the blends segment held the largest share in the global feed premix market in 2022 as it has balance proportion of nutrients, and the animal feed manufacturers usually prefer custom blend of feed premixes as an additive for their feed solutions. This factor, thereby, drives the growth of the segment.
Danish Agro AMBA, Agrifirm Group BV, Nutreco NV, Archer-Daniels-Midland Co, Cargill Inc, Koninklijke DSM NV, Dansk Landbrugs Grovvareselskab amba, NuSana BV, De Heus Voeders BV, Kemin Industries Inc are a few players operating in the global feed premix market.
The List of Companies - Feed Premix Market
- Danish Agro AMBA
- Agrifirm Group BV
- Nutreco NV
- Archer-Daniels-Midland Co
- Cargill Inc
- Koninklijke DSM NV
- Dansk Landbrugs Grovvareselskab amba
- NuSana BV
- De Heus Voeders BV
- Kemin Industries Inc
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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