Feed Premix Market to See 3.5% Annual Growth Through 2024

Industry Boosted by Increased Incidences of Animal Disease in Livestock Industry

September 25, 2019

WELLESLEY, Mass., Sep 25, 2019–Increased incidences of animal disease in the livestock industry and the rising demand for chemical-residue-free and ecologically safe meat, meat products, milk and milk products are two factors which drive growth of the global feed premix market, according to a report by BCC Research, “Feed Premix: Market Overview and Top Twelve Companies.”

The market expects to see a compound annual growth rate (CAGR) of 3.5% through 2024, when it could be worth $12.8 billion.

Major players in the market include: Biomin, Cargill Inc., Land O’Lakes Inc. and Jubilant Life Sciences.

Research Highlights

  • Asia-Pacific accounts for the largest share in the global feed premix market, with 35.6%, followed by the Europe with 25.0%.
  • Poultry holds the largest share of the global feed premix market by livestock, with 44.1%.
  • In terms of volume, the global feed premix market stood at a volume of 22.1 million metric tons and is expected to reach 26.8 million metric tons by 2024, growing at a CAGR of 3.4%.

Read the full report here: https://www.bccresearch.com/market-research/food-and-beverage/top-12-feed-premix-companies.html

“The global feed premix market has largely benefited from the increasing demand for compound feed in the feed industry,” write BCC analysts. “Advances in the manufacturing process of feed premixes as well as extensive research on different nutrients are boosting the production of innovative feed premix formulations. Growing awareness about animal nutrition among farmers is expected to further drive market growth during the forecast period. Moreover, market players are strengthening their alliances with feed manufacturers for a continuous supply of feed premixes, thereby boosting the growth of the global feed premix market.”

The Role of Government Regulation in the Feed Premix Market

The report adds that the ban of certain antibiotics that are used as growth promoters in the EU and the U.S. has opened up new business opportunities for the feed premix market. The ban is expected to increase the demand for feed premix that contains enzymes, feed acidifiers and other direct fed microbes to enhance meat quality and production. This ban of antibiotics has led livestock producers to identify new ways to stimulate production among animals while still offering the same advantages and features provided by antibiotic growth promoters. Numerous feed premixes and proprietary blends are evolving as possible substitutes. The market for organic feed premix is anticipated to grow in the future due to the strict ban and to the constant development of organic meat market in western regions. 

Editors/reporters requesting analyst interviews should contact Sarah Greenberg at press@bccresearch.com.

Feed Premix: Market Overview and Top Twelve Companies( FOD084A )
Publish Date: Aug 2019    

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