The global poultry feed premix market is expected to grow at a compound annual growth rate of 3.20% over the forecast period to reach a market size of US$6.667 billion in 2027 from US$5.347 billion in 2020.
Vitamins, trace minerals, medicaments, feed supplements, and diluents make up a premix. It's a high-value addition for feeds with long-term safety and quality. The premix industry is responsible for producing high-quality premix in a consistent, efficient, and cost-effective manner.
To improve diet compositions and satisfy the demands of modern chicken production, the balance of minerals and vitamins in poultry diets has become increasingly crucial. While vitamin and mineral nutrition plays a minor role in total nutrition, they are critical for avian health and performance, as well as supporting vital body activities like performance, growth, and reproduction.
The market for poultry feed premix is expected to grow as the population's desire for animal-based products grows. Growing consumer preference for white meat over red meat increased meat mass production, and a growing livestock business is all factors that will move the market forward. In the forecast term, however, the rising popularity of meat and meat-related goods, as well as increased poultry consumption, will generate new chances for the poultry feed premix market.
The poultry feed premix market's growth would be limited in the forecast period by high raw material costs and rising operating costs.
Growth Factors
It is forecasted that rising demand for compound animal feed will create robust growth prospects
Animals continue to contribute significantly to the global food supply. As a result, animal feed has become a more important part of the overall food system. The availability of a regular supply of adequate, cost-effective, and safe animal feed is critical to meeting consumer demand for more meat, milk, eggs, and other livestock products.
As a result of the enormous growth in worldwide demand for animal products, more feed supplies, sources, and alternatives are required. Vitamins, minerals, amino acids, antibiotics, and colorants, among other feedstuffs and additives, are combined in various amounts to produce the right compound fee.
Manufacturers have been influenced by the increased demand for safe and nutrient-dense animal feed to improve quality and safety while maintaining cost-effectiveness. The International Feed Industry Federation (IFIF) estimates that the global compound feed output has surpassed 1 billion tonnes per year. The production growth rate was larger in developing countries than developed countries, especially in developing countries.
Developing countries are projected to emerge as strong destinations of feed premix
In 2017, demand from emerging areas such as the Asia Pacific and Latin America accounted for 47 percent of worldwide demand. According to the FAO report "World Agriculture: Towards 2015/2030," the population of emerging countries in the Asia Pacific region - India, China, Indonesia, Vietnam, and Thailand - will consume meat at a pace of 2.4 percent per year until 2030.
The demand for high-quality feed concentrates and premixes to improve the meat weight and quality of the animals has risen as a result. Similarly, according to the FAO, Brazil had the greatest cow population in South America in 2017, with 330 million head, and it is expected to increase substantially above the regional average. The increased consumer awareness of healthy food and the demand for export-quality meat products are predicted to drive up demand for feed premixes.
Rising production of poultry meat owing to robust demand is forecasted to drive the market demand for poultry premix
Another prime factor that is expected to drive lucrative demand for poultry feed premix is the rising demand for poultry meat which has notably increased with poultry production. Data from the United Nations Food and Agriculture Organization (UN FAO) shows that global poultry production has increased from 99.30 million tonnes in 2010 to 127.31 million tonnes in 2018.
The US is one of the largest players in the market, closely followed by China and India. In the US, poultry production in 2018 stood at 22.30 million tonnes, up from 19.58 million tonnes in 2010. China accounted for 20.12 million tonnes of poultry production in 2018, while India accounted for 3.62 million tonnes of global production. It is anticipated that advanced breeding methods and rising demand will further expand the market for poultry feed Prix during the forecasted years.
Impact of COVID-19 on the Poultry Feed Premix Market:
COVID-19 is expected to have a minor to moderate effect on the feed premix. However, as a result of the COVID-19 epidemic, increased health worries and fears about eating animal flesh are expected to boost market prospects. The addition of such nutritional additives in the feed would increase the demand for feed premixes since they aid in improving the immunity of animals. COVID-19 is having an impact on countries all over the world, which means the feed premixes industry is expected to grow at a significantly slower rate in the following years.
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics 4.1. Market Drivers 4.2. Market Restraints 4.3. Porters Five Forces Analysis 4.3.1. Bargaining Power of Suppliers 4.3.2. Bargaining Power of Buyers 4.3.3. The Threat of New Entrants 4.3.4. Threat of Substitutes 4.3.5. Competitive Rivalry in the Function 4.4. Function Value Chain Analysis
5. Global Poultry Feed Premix Market Analysis, By Type 5.1. Introduction 5.2. Vitamins 5.3. Minerals 5.4. Amino Acids 5.5. Others
6. Global Poultry Feed Premix Market Analysis, By Geography
7. Competitive Environment and Analysis 7.1. Major Players and Strategy Analysis 7.2. Emerging Players and Market Lucrativeness 7.3. Mergers, Acquisitions, Agreements, and Collaborations 7.4. Vendor Competitiveness Matrix
8. Company Profiles 8.1. DSM 8.2. Phibro Animal Health Corporation 8.3. AB Agri Ltd. 8.4. Cargill, Incorporated 8.5. Land O' Lakes, Inc. 8.6. DLG a.m.b.a 8.7. Archer Daniels Midland Company 8.8. Godrej Agrovet Limited (GAVL) 8.9. ForFarmers. 8.10. Continental Grain Company
