Advancements in animal nutrition research leading to production of specialized and effective feed premixes, thereby complementing global market growth.

ROCKVILLE, MD, UNITED STATES, June 18, 2024 /EINPresswire.com/ -- According to a new industry report by Fact.MR, revenue from the global feed premix market is set to reach US$ 12.1 billion in 2024 and has been projected to increase at a CAGR of 5.5 % from 2024 to 2034. Growing need for premium animal feed and increasing focus on enhancing livestock productivity are the two key factors driving the expansion of the market for feed premixes.

Growing demand for meat, dairy, and other animal-based goods worldwide is the boosting requirement for efficient and high-yield livestock production, which is further driving market growth. This demand rise highlights the need for improved animal nutrition to enhance the overall productivity, growth rates, and health of cattle. This necessity is increasing demand for feed premixes, which provide essential nutrients to support optimal animal development and efficient production techniques.

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Increasing global demand for fish is driving the expansion of the aquaculture sector. Because they provide fish and other aquatic animals with the nutrients they require to flourish and yield big harvests, feed premixes are crucial to this growth. Feed premixes help increase feed efficiency, reduce waste, and improve the overall health of aquatic animals.

Key Takeaways from Market Study

The global feed premixes market is on a significant growth trajectory, projected to reach US$ 20.7 billion by the end of 2034. North America is anticipated to play a substantial role, holding 23.9% of the global market share in 2024. Within this region, the United States stands out, with revenue from feed premixes expected to reach US$ 2.3 billion by 2034. This growth is driven by increasing demand for high-quality animal nutrition, advancements in feed premix formulations, and the rising awareness about animal health among farmers and producers.

In East Asia, the market is expected to achieve a notable size, with valuations reaching US$ 4.8 billion by 2034. South Korea, in particular, is projected to experience a compound annual growth rate (CAGR) of 6.2% through 2034, reflecting strong growth prospects. Meanwhile, China’s feed premixes market is forecasted to hit US$ 1.3 billion by 2024, underscoring its significant market presence. When it comes to ingredients, vitamins are set to dominate, anticipated to capture 28.6% of the global market share in 2024. This dominance is attributed to the essential role of vitamins in animal growth, reproduction, and overall health, driving their demand in feed premixes across the globe.

“Feed premixes are becoming popular since they are a significant source of essential nutrients that support the growth, reproduction, and immune system maintenance of livestock,” says a Fact.MR analyst.

Emphasis on Optimal Animal Growth, Health, and Performance Among Livestock Producers in North America

North America’s cattle industry is well known for applying innovative agricultural practices and contemporary technology. Feed premixes are in great demand because they are essential components of many approaches used by producers and farmers to enhance animal health, feed efficiency, and total production.

Feed premixes also offer key nutrients and raise feed conversion rates. By using feed premixes in their operations, livestock producers ensure optimal animal growth, health, and performance all essential for meeting stringent production requirements and meeting customer demands.

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Competitive Landscape

Key players in the feed premix industry are expanding their product portfolios and acquiring complementary firms to maintain their market position. They are also enhancing the nutritional value of feed premixes to gain a competitive advantage.

With the growing demand for safe and nutrient-rich animal feed, manufacturers are improving the quality and safety of their products while ensuring they remain economically viable.

Recent industry developments include:

February 2024: South Korea-based EASY BIO acquired a 100% share of Devenish Nutrition LLC, a U.S.-based feed additive specialist, to strengthen its feed additive and premix business in North America.

January 2024: JBS invested US$ 116.6 million to build three new feed facilities in the Southern Brazilian cities of Seberi, Santo Inácio, and Itaiópolis. This investment supports the substantial growth of its business unit, Seara, by aligning input supply with production capacity.

December 2023: ADM signed an agreement to acquire PT Trouw Nutrition Indonesia, a Nutreco affiliate. This acquisition includes offices, warehouses, labs, and two premix production facilities located in Pasuruan, Surabaya, and Cibitung, Jakarta.

Explore More Related Studies Published by Fact.MR Research:

Feed Micronutrients Market: The global feed micronutrients market is estimated to grow at a healthy CAGR of over 6% during the forecast period (2019-2027) and reach a valuation of over US$ 2.5 Bn on the back of growing focus on sustainability of animal nutrition products in developed as well as developing regions.

Nutritional Blends Market: Over the 2018-2022 historical period, the global nutritional blends market registered a CAGR of 4.8%, The market is anticipated to reach a valuation of US$ 5.8 billion in 2023 and further expand at a CAGR of 5.3% to climb to US$ 9.7 billion by the end of 2033.

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