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The global feed premix market is projected to reach USD 15.35 Billion by 2026. Fortune Business Insights, in a published report, titled, “Feed Premix Market Size, Share & Industry Analysis, By Type (Vitamins, Minerals, Amino Acids, and Antibiotics), Livestock (Poultry, Ruminants, Swine, Aquatic Animals, and Others), and Regional Forecast, 2019-2026,” states that the global market will exhibit a CAGR of 7.75% during the forecast period.
However, the market size was valued at USD 8.50 Billion in 2018. The report further states that the global feed premix market will grow at a fast pace due to the commercialization of livestock farms and numerous other benefits of feed premixes.
Feed premix is a combination of a few complex compounds, namely, amino acids, vitamins, and minerals. It provides livestock animals with nutrients and helps them in gaining the required nourishment. Feed premixes also contain micronutrients and macronutrients. Micronutrients consist of amino acids and vitamins that are required in small quantities. However, macronutrients consist of fats and carbohydrates. They are required in large quantities.
Urgent Need for High Transparency Level in Supply Chain to Boost Growth
There is a rise in the demand for high-quality protein products across the world, which, in turn, is forcing the livestock farmers to feed top quality products to their animals. It is boosting the quality of output and productivity. Blockchain and clean labeling technologies are anticipated to propel the transparency of the supply chain to the consumers.
Moreover, consumers around the world are aware of the quality of the feed that they buy. Hence, they require high transparency level in the supply chain of the products from production to consumption point. That is why several vitamins and minerals are added to enhance feed nutrition. It would aid in achieving healthy performance and productivity of livestock animals.
Increasing Demand for Animal Protein to Favor Growth in Asia Pacific
Asia Pacific is considered to be the largest feed premix market due to a rise in the number of aquatic and poultry animals in the region. Furthermore, increasing demand for animal protein and ever-increasing population in Asia Pacific are likely to contribute to the robust growth of livestock farming, which in turn, is projected to boost the feed premix market in the coming years.
North America, on the other hand, is anticipated to remain in the second position in the global market in terms of share in the forthcoming years. In 2018, the feed premix market in this region was valued at USD 2.41 Billion. The rapid growth is expected to happen due to increasing adoption of technologically advanced and efficient farm management procedures by the livestock farmers.
Archer Daniels Midland Company Opens New Plant in China to Expand Production
Archer Daniels Midland Company, a global food processing and commodities trading corporation, headquartered in Illinois, announced the opening of a new feed premix plant in South China in October 2017. The annual capacity of the plant is around 80,000 metric tons of complete feed and concentrates and 30,000 metric tons of feed premixes.
It is situated in Zhangzhou and it is the fourth animal nutrition network in China. The company also has production facilities in Nanjing, Tianjin, and Dalian. Additionally, a new plant is currently under construction in central China. The company expects to serve the consumers in the southern part of the country with the help of the Zhangzhou plant.
Fortune Business Insights profiles few of the key market players operating in the global feed premix market. They are the Archer Daniels Midland Company, Koninklijke DSM N.V., Kemin Industries, Nutreco N.V., Cargill, Incorporated (Provimi), Purina Animal Nutrition LLC, Land O’lakes, Inc., De Heus Animal Nutrition, Alltech, Inc., Zinpro Corporation, Novus International, Inc., Lexington Enterprises Pte. Ltd., and other prominent market players.
Browse Complete Report Details: https://www.fortunebusinessinsights.com/industry-reports/feed-premix-market-101543
The global feed premix market is segmented into:
Value (USD Billion)