Feed Premix Market Size, Price Trend, Competitive Market Share & Forecast by 2023: Global Market Insights, Inc.
Feed Premix Market size is projected to exceed USD 10.5 billion by 2023, at more than 2.9% CAGR. Rising consumer awareness about product health benefits may drive premix market.
Rise in animal production for meat consumption in India, China and Brazil should favor market size growth. U.S. and China are key producing countries. The U.S. market is focused on innovating cost-effective production process.
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Global poultry feed premix market is expected to exceed over USD 2.1 billion by 2023, at more than 3.5% CAGR. Global aqua feed premix market is projected to exceed USD 400 million by 2023, at more than 4% CAGR. Consumption of fish and fish products is high in the aquaculture industry.
U.S. is the leading producer of poultry products. Increase in processed poultry consumption led to high demand of quality meat in industry. Key elements, vitamins and minerals are important for animal metabolism. Vitamin premix dominated the overall consumption and may witness significant gains up to 2023.
The successive growth in the market is possible globally only by creating awareness among the farmers. Lack of product awareness and rising raw material cost may affect overall industry and impact feed premix market price trend. Consumers prefer white meat over red meat which has led to increase in demand owing to health benefits from poultry meat consumption. This factor has lead to support market demand.
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Europe premix market size, dominated by France, UK and Germany, is expected to focus increasing product penetration by making livestock producers aware of the importance for animal health and animal husbandry industry. South America, dominated by Brazil and Chile, may witness increase in product consumption owing to rise disposable income coupled with growth of aquaculture industry.
Global feed premix market share comprises of participants such as DSM, Cargill, Nutreco, Archer Daniels Midland, and InVivo NSA. Capacity additions have taken place over the last few years in Asia Pacific and Latin America which has led to increase in production capacity.