The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The feed premix market has witnessed remarkable growth, surging from $21.7 billion in 2023 to an anticipated $24.25 billion in 2024, boasting a robust CAGR of 11.8%. This upward trajectory can be attributed to factors like nutritional awareness, livestock health concerns, government regulations, and population growth. The market is poised for continued expansion, projecting a size of $36.68 billion by 2028, with a CAGR of 10.9%, driven by urbanization, disease prevention, sustainable practices, and research and development.

Rising Demand For Livestock-Based Products Fuels Growth In The Feed Premix Market:

• Livestock-Based Product Consumption: The surge in demand for livestock-based products, including eggs, dairy, and meat, is a key driver of the feed premix market. Adding feed premix to the diet of livestock ensures sufficient vitamins and minerals, enhancing nutrition and overall production.
• Market Statistics: In July 2022, the United States Department of Agriculture reported a 0.3% increase in milk production, totaling 18.3 billion pounds in 24 major states, highlighting the growing consumption of dairy products. Major companies in the market include Archer Daniels Midland Company, Cargill Inc., Nutreco N. V., and others, contributing significantly to the industry’s growth.

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Innovative Feed Ingredients Revolutionize The Feed Premix Market:

• Key Trend: Development of New Feed Ingredients: The feed premix market is experiencing a transformative trend with the development of innovative feed ingredients. These ingredients, such as BASF’s Natupulse TS, a non-starch polysaccharide enzyme, enhance the properties of feed premixes, improving health and maximizing production.
• BASF’s Natupulse TS: Introduced in December 2021, Natupulse TS hydrolyzes ß-mannans into smaller components, reducing digesta viscosity and increasing feed digestibility. Such innovations contribute to more sustainable livestock output.

Adm’s Strategic Acquisition Of Golden Farm Expands Wisium Premix Portfolio In Vietnam:

• Strategic Acquisition: In April 2021, Archer Daniels Midland (ADM) acquired Golden Farm Production & Commerce Company Limited in Vietnam, expanding its Wisium premix offerings. This acquisition aligns with ADM’s commitment to enhancing its presence in the feed premix market.
• Market Leaders: Key players in the feed premix market include ADM, BASF SE, Cargill Inc., and others, demonstrating strategic moves to strengthen their market positions.

Market Segmentation: The feed premix market is segmented into various categories:

1. By Type: Amino Acids, Antioxidants, Antibiotics, Vitamins, Minerals, and Other Types.
2. By Form: Dry and Liquid.
3. By Livestock: Ruminants, Swine, Aquatic Animals, Poultry, and Pets.

Regional Dynamics:

• Asia-Pacific Dominance: In 2023, Asia-Pacific emerged as the largest region in the feed premix market, reflecting the region’s significant contribution to the industry’s growth.
• North America’s Fastest-Growing Status: North America is expected to be the fastest-growing region in the forecast period, underscoring the region’s potential and increasing focus on sustainable and innovative agricultural practices.

Conclusion: The feed premix market is witnessing unprecedented growth, driven by factors ranging from nutritional awareness to the rising demand for livestock-based products. The industry’s trajectory is further propelled by innovative feed ingredients, strategic acquisitions, and a commitment to sustainable practices. As urbanization and disease prevention take center stage, the market is poised to reach new heights, presenting ample opportunities for industry players to thrive. The strategic moves of key market players and the evolving trends underscore the dynamic nature of the feed premix market, marking it as a vital sector in the global agriculture landscape.

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