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Feed Premixes Market Growth, Top Manufacturers, Leading Key Player, Attractive Segmentation
Feed Premixes Market Overview
The global Feed Premixes Market is expected to register a CAGR of 3.55% to reach USD 12,325.2 million by 2023. The critical market driving factors for the global Feed Premixes Market growth are increasing demand for industrial livestock production and the subsequently rising trend of precision nutrition among feed manufacturers. The quality of livestock products such as eggs, fur, meat, milk, leather, and wool are highly dependent on the feed quality as well as nutrition provided to the animals. Other factors contributing to the Feed Premixes Market growth include growing consciousness among farmers about the adequate nutrition levels in feed and the popularity of feed premixes in the agriculture sector as well as animal husbandry sector.
Big players in the global Feed Premixes Market are AB Agri Ltd. (UK), Archer Daniels Midland Company (USA), Cargill Incorporated (USA), Dansk Landbrugs Grovvareselskab a.m.b.a. (Denmark), ForFarmers N.V. (Netherlands), Koninklijke De Heus B.V. (Netherlands), Koninklijke DSM N.V. (Netherlands), Land O’lakes Inc. (USA), Nutreco N.V. (Netherlands), and Phibro Animal Health Corporation (USA).
The global Feed Premixes Market segmentation encompasses ingredient type and livestock. MRFR’s take on the market marks various facets of the market in-depth.
By ingredient type, this market has been segmented into amino acids, lipids, minerals, vitamins, and others. The vitamins segment is the largest market segment which can be worth USD 4382.3 Mn by 2023. The vitamins are popular as they boost physiological functions in animals such as development, growth, and reproduction. At 4.10% CAGR, the lipids segment can be the fastest-growing market segment during the forecast period. The lipids segment is growing as lipids are a rich source of concentrated energy. They affect diet palatability, digestion, feed dustiness, feed efficiency, growth performance, metabolism, and pellet quality in young animals.
A geographical outlining of the global Feed Premixes Market covers the Asia Pacific, Europe, North America, and the Rest of the World (RoW).
The Asia Pacific region holds the largest market share of 35.19%, and during the forecast period, it is expected to grow at 3.78% CAGR. In this region, the market is surging due to advancements in the feed industry, subsequent increased production of feed premixes, the growing popularity of feed premixes due to their nutritional benefits, high poultry farming, and introduction new formulations by feed premix manufacturers to capture greater market share. China holds the largest market share in this region, followed by India. During the forecast period, India can grow at 4.30% CAGR. Other major country-specific markets in this region are Indonesia, Japan, Thailand, and Vietnam. In this report, Australia and New Zealand have been organized as one segment. An observation of the remaining countries in the Asia Pacific region featured in this report calculates the additional market revenue from some other countries.
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North America holds significant market share in the global market, and it can grow moderately during the forecast period. The market in North America can grow due to the high production of poultry feed and innovation as well as the expansion of product portfolios by feed premix manufacturers. Although the USA is expected to dominate the market in this region due to the presence of some key market players, Canada is expected to grow significantly as a market during the forecast period.
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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