Feed Premix Market Forecast and Opportunity Assessment by Future Market Insights
Feed Premix Market: Drivers and Restraints
The major driving factors for feed premix market includes increasing meat consumption across the globe, mass production of meat coupled with rising demand for quality meat. Increasing awareness among the farmers about the benefits of feed ingredients is expected to boost the growth of feed premix industry in the global market. However, rising raw material cost and lack of awareness about the premix is obstructing the market growth of feed premix market globally. The shift in consumption from red meat to white meat in developed as well as developing countries coupled with technology advancement and methods for manufacturing feed premix with high expertise translates to major trend in global feed premix market.
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Feed Premix Market: Segmentation
Global feed premix market is segmented on the basis of ingredients, livestock and region. On the basis of product feed premix market is segmented into vitamins, minerals, amino acids, antibiotics, antioxidants and others. Furthermore, on the basis of livestock the feed premix market is segmented into ruminants, poultry, swine, aquatic animals, cattle, sheep-goat and other animals. Lastly, on the basis of region the market is segmented into North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan and Middle East & Africa.
Feed Premix Market: Region-wise Outlook
North America was the largest market for feed premix closely followed by Asia-Pacific in 2014. The demand for the feed premix is expected to grow in the emerging markets such as India, China and Brazil by 2025. This growth is attributed to continuous rise in demand for feed premix in the domestic market. Europe and Africa are anticipated to grow steadily due to the increasing importance for animal health and wellness in the animal husbandry industry.
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Feed Premix Market: Key Players
The key players in the global feed premix market are Nutreco N.V., Cargill, Inc., Koninklijke Dsm N.V., DLG Group, Phibro Group, Archer Daniels Midland Company to name a few. The major companies are focusing towards acquisition in order to increase their consumer base by expanding their product portfolio. For instance, in 2011, Cargill Inc. acquired Provimi, the global animal nutrition company in order to offer the broadest array of animal nutrition products, services and capabilities to its global customers. Cargill Inc. feed premix products comes under different brand name such as Provimi, Akey, Vigortone, Citura, Neolait, Nutral and Nutron.
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