Feed Premix Market thrives with the reduced feed conversion rate.

Market overview:
The Feed Premix Market was worth USD 9.9 billion in 2021, and it is estimated to reach a valuation of USD 11 billion, progressing at a CAGR of 3.9% during the conjecture period 2021-2026

Feed premixes are added to livestock feed to obtain sufficient levels of vitamins and minerals and provide adequate nutrition. They are mixtures of specific complex compounds such as vitamins, minerals and amino acids from animal feed that improve growth and development rapidly in a short period of time. The feed premix contains both micro and macro nutrients. Macronutrients are nutrients needed in large amounts and micronutrients are nutrients needed in small amounts.

Recent developments:
In 2020, Layn Corp., a global producer of high-quality natural animal nutritional ingredients, plant sweeteners and functional plant extracts, launched TruGro MAX, a natural feed additive that provides strong antioxidant support.

In 2019, BASF SE launched a premium phytase called Natuphos E for the Indonesian feed industry. Natuphos E helps animals make better use of important nutrients, including amino acids, calcium, phosphorus, and energy.

Market Drivers and Restrains:
Increased demand for feed driven by increased consumption of livestock products is driving market growth. The rising call for livestock products, including meat and dairy proteins, among consumers is a major factor driving the growth of the global feed premixes market. Awareness of the need to provide adequate nutritional levels to feed to improve the health and productivity of livestock is another important factor driving the growth of the feed premix market. Additionally, the growing awareness of health-conscious consumers of the importance of high-quality foods, including meat and other animal protein products, has led to the adoption of feed premixes among farmers. Another important factor driving demand in the global market for feed premixes is the increased preference for meat in a variety of developing countries. Therefore, livestock farmers are looking after the health of the animals. Besides, the growing preference for pets is estimated to increase demand in the global feed premixes market.

Feed Premix provides nutritional supplements that help create high-quality products including eggs, meat, hides, skins, milk, and cow wool. It also helps improve livestock health and control disease. These factors are driving the growth of the feed premix market. With the continuous advancement of technology and recognition among farmers, the implementation of innovative livestock practices, including vaccine technology, genetic engineering, dust filtering technology, biometric sensors, and the use of artificial intelligence to monitor farm animals, is driving the growth of the livestock industry. This promotes the growth of the feed premix market. Strict government regulations, antibiotic bans in several countries, and the high cost of feed premix ingredients are some of the factors holding back the growth of the feed premix business. Lack of awareness of the benefits of feeding livestock feed premixes is another factor hampering the market for feed premixes.

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Report is segmented as:
By ingredient type, the market is segmented into minerals, vitamins, antibiotics, antioxidants, amino acids, etc. Amino acids are expected to dominate the global market for feed premixes during the forecast period.
On the basis of livestock, the market is segmented into ruminants, poultry, aquatic animals, horses, pigs and pets. The poultry sector is supposed to grow at a higher CAGR in the global feed premix market.
By form, the market is divided into dry and liquid. Feed premixes in dry form are likely to lead the market due to a number of advantages including convenient storage and packaging, longer shelf life, and user-friendly features.

Geographical Segmentation:
North America occupies a dominant share of the global feed premixes market. However, the market share of feed premixes is likely to change in the coming years. Antibiotics used as growth promoting substances are banned in Europe, where they are expected to show a slight upward trend in this market. Asia Pacific may surpass North America to have the largest share of the global market for feed premixes. India, China and Indonesia are the main markets to expand growth in the global market for feed premixes. With a growing interest in animal health and welfare, many countries are working to use premium quality supplements. In addition, rising income levels and rising meat consumption preferences driven by economic development have led to increased demand in the Asia Pacific feed premix market.

Impact of COVID-19 on Feed Premix Market
The coronavirus pandemic has disrupted all industries, including the agriculture. The feed premixes market is facing many challenges majorly due to implementation of lockdown and restrictions on manufacturing and transportation. However, the market will resume to its normal level by 2021.

Key market players:
Key players in the global feed premix market include Cargill Incorporated, Koninklijke DSM NV, BASF SE, Archer-Daniels-Midland Company, Land O'Lakes, Inc., and Lexington Enterprises Pte. Ltd., AB Agri Ltd., Devenish Nutrition, LLC., Phibro Animal Health Corporation and Nutreco NV Etc.

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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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