Poultry Feed Premix Market was worth $4.09 million in 2020 and estimated to be growing at a CAGR of 3.20%, to reach $.6.45 million by 2025.
Premix is defined as a uniform mixture of one or more micro-ingredients with diluent and/or carrier, which are usually required in small amounts and are not intended for direct feeding to animals.
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Poultry is the most widely consumed meat in the world and its production is more than any other meat category. Poultry Feed Premix has become an essential part of the globally increasing livestock industry and meat production industry. Manufacturers supply premixes to ensure a uniform supply of nutrients to the animals and to enhance the quality and productivity of the animal. The end consumers of the Poultry Feed Premix are poultry, pig, ruminants, fish, etc.
The growth of the Global Poultry Feed Premix market is majorly driven by factors such as the growth in global meat consumption, increase in awareness towards meat quality and safety, increase in mass production of meat, and recent livestock disease outbreaks. Globally increasing the population is also supporting the growth of the world meat market, ultimately increasing demand for Poultry Feed Premix. The swing in consumption pattern from red meat to white meat particularly in developed countries has further led to an enlarged demand for poultry meat. Different regulatory structures, volatile economies, and the increasing cost of operations are the major restraining factors for the market. And, an increase in the cost of raw materials is also a key challenge for the companies in the market.
The Global Poultry Feed Premix market is segmented based on Ingredient type. On the basis of Ingredient type, the global Poultry Feed Premix market is segmented into Minerals, Antibiotics, Vitamins, Amino Acids, and Other Ingredients. Vitamins segment leads the Global Poultry Feed Premix market followed by the minerals segment. Vitamins and minerals have been gaining substantial growth, as they serve as a vital factor in enhancing the growth of the livestock and in the growth of the immune system. The reputation of trace minerals such as zinc, manganese, iodine, and selenium for its functional benefits lead to the strong growth of this segment along with vitamins.
The market has also been geographically segmented into
- North America
- Latin America
- Middle East and Africa
North America accounted for the largest share in the global Poultry feed premix market, accounting for around 34% of the global market. The Asia-Pacific region is expected to offer lucrative growth opportunities, owing to the considerable increase in Poultry production and increasing awareness among the consumers about the quality of meat.
Some of the major companies dominating this market are Cargill, Koninklijke DSM N.V., Nutreco N.V., Archer Daniels Midland Company, and InVivo Nutrition et Sante Animales.