The global feed premix market was valued at $5,097.7 million in 2021, and is projected to reach $11,361.6 million by 2031, registering a CAGR of 8.8%. North America was the highest revenue contributor, accounting for $1,983.0 million in 2021, and is estimated to reach $3,999.3 million by 2031, with a CAGR of 7.7%.
The feed premix industry is currently driven by increasing demand for dairy products, increasing demand for meat and meat products, rising population, and growth of the livestock industry. Furthermore, increasing demand for organically grown livestock is expected to propel the demand for feed premix. Feed premix are used in animal feed to enhance the nutritional value of the animal feed.
Majority of contagious diseases that affect people are animal-borne. While intensive farming multiplies the burden of the disease because to the high density, genetic proximity, increased immunodeficiency, and live transit of farmed animals, traditional feeding systems like bushmeat and backyard farming enhance the dangers of disease transmission from wild animals. In addition, some of the products used in feed premix are high in cholesterol and saturated fat and, therefore, standardization is a necessity. The starch content, fat-free content, and other tests are undertaken by the International Organization of Standardization to prevent animals from any uncertain diseases. However, more than 70% of antibiotics are used in livestock, and these antibiotics are illegally added to animals’ diets for the purpose, such as weight gain or treating illness. Such standardization in meat production is likely to propel the growth of food premix market globally.
Raw materials in the animal feed premix market include, cereal grains, fats & oils, added vitamins, minerals, and other nutritional sources. High nutrient value is present in all cereals and protein meals. However, monogastric animals cannot properly utilise them because the complexity of feedstuffs, a digestive system that is only partially effective mechanisms and cost associated with raw material to prepare wide range of feed premix. Moreover, feed premix production is tasked with constantly producing high-quality premix tends to force the manufactures to opt for quality raw material that costs higher than other material available in the market. The volatile price of these raw materials is expected to hamper the growth of the global animal feed additives market. Moreover, increased prices of protein meals is also anticipated to restrain the market growth, as it allows producers to add low-cost ingredients in feed additives, which later harm the health of animals. This in turn hampers the growth of the market.
Also, stringent government regulations associated with product approval are likely to hamper the market growth. For instance, in European Union (EU), substances for reduction of the contamination of feed by mycotoxins are classified within the technological feed additives category. This group of products must be registered following the rules described in Regulation EC 1831/2003, which lays out the procedure for the registration of feed additives.
The demand for organic feed among growers is expected to create an opportunity among feed premix manufacturers. The growing demand for organic food products owing to the rising consumer awareness regarding the consumption of these food products along with the availability of healthy food options from various manufacturers is encouraging the livestock growers to adopt the use of organic ingredients in animal feed.
Increased productivity and growth rates, the treatment of animals who are clinically ill, and prevention or reduction of infectious disease are all advantages of antibiotics in animal feed premix. However, among these, enhanced efficiency, or a more effective conversion of feed to animal products, and an improved growth rate, are by far the most common uses of antibiotics in the feed premix market. In addition, tetracycline and penicillin, for instance, significantly increase egg production, feed efficiency, hatchability in chicken feed, and impact on mortality. The use of antibiotics in animal feed premix has witnessed a significant growth in recent decade. Some of the countries outside Europe use antimicrobials to increase the growth rate of livestock, poultry, and other farmed animals. In addition, China is one of the biggest producers and consumers of antibiotics. Thus, rise in utilization of antibiotics in livestock is expected to provide potential opportunities for the market growth.
The feed premix market is segmented into livestock, type, form, and region. On the basis of livestock, the market is categorized into swine, ruminants, poultry, aquatic animals, and others. By source, it is fragmented into conventional and organic. Depending on form, it is segregated into dry, liquid, and others. Region-wise, it is analyzed across North America (the U. S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Singapore, New Zealand, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa, UAE, and rest of LAMEA).
The key market players included in the feed premix market analysis are Alltech, Inc., BASF SE, Bentoli, Inc., BERTOL COMPANY s. r. o, Cargill, Incorporated, Clariant Ltd, Koninklijke DSM N. V., EW Nutrition GmbH, GLOBAL NUTRITECH, Impextraco N. V., Norel, S. A, SVH Holding N. V., Olmix S. A., Perstorp Holding AB, Simfa Labs Pvt. Ltd., Virbac S. A., and Kemin Industries.
The feed premix industry is currently driven by increasing demand for dairy products, increasing demand for meat and meat products, rising population, and growth of the livestock industry. Furthermore, increasing demand for organically grown livestock is expected to propel the demand for feed premix. Feed premix are used in animal feed to enhance the nutritional value of the animal feed.
Majority of contagious diseases that affect people are animal-borne. While intensive farming multiplies the burden of the disease because to the high density, genetic proximity, increased immunodeficiency, and live transit of farmed animals, traditional feeding systems like bushmeat and backyard farming enhance the dangers of disease transmission from wild animals. In addition, some of the products used in feed premix are high in cholesterol and saturated fat and, therefore, standardization is a necessity. The starch content, fat-free content, and other tests are undertaken by the International Organization of Standardization to prevent animals from any uncertain diseases. However, more than 70% of antibiotics are used in livestock, and these antibiotics are illegally added to animals’ diets for the purpose, such as weight gain or treating illness. Such standardization in meat production is likely to propel the growth of food premix market globally.
Raw materials in the animal feed premix market include, cereal grains, fats & oils, added vitamins, minerals, and other nutritional sources. High nutrient value is present in all cereals and protein meals. However, monogastric animals cannot properly utilise them because the complexity of feedstuffs, a digestive system that is only partially effective mechanisms and cost associated with raw material to prepare wide range of feed premix. Moreover, feed premix production is tasked with constantly producing high-quality premix tends to force the manufactures to opt for quality raw material that costs higher than other material available in the market. The volatile price of these raw materials is expected to hamper the growth of the global animal feed additives market. Moreover, increased prices of protein meals is also anticipated to restrain the market growth, as it allows producers to add low-cost ingredients in feed additives, which later harm the health of animals. This in turn hampers the growth of the market.
Also, stringent government regulations associated with product approval are likely to hamper the market growth. For instance, in European Union (EU), substances for reduction of the contamination of feed by mycotoxins are classified within the technological feed additives category. This group of products must be registered following the rules described in Regulation EC 1831/2003, which lays out the procedure for the registration of feed additives.
The demand for organic feed among growers is expected to create an opportunity among feed premix manufacturers. The growing demand for organic food products owing to the rising consumer awareness regarding the consumption of these food products along with the availability of healthy food options from various manufacturers is encouraging the livestock growers to adopt the use of organic ingredients in animal feed.
Increased productivity and growth rates, the treatment of animals who are clinically ill, and prevention or reduction of infectious disease are all advantages of antibiotics in animal feed premix. However, among these, enhanced efficiency, or a more effective conversion of feed to animal products, and an improved growth rate, are by far the most common uses of antibiotics in the feed premix market. In addition, tetracycline and penicillin, for instance, significantly increase egg production, feed efficiency, hatchability in chicken feed, and impact on mortality. The use of antibiotics in animal feed premix has witnessed a significant growth in recent decade. Some of the countries outside Europe use antimicrobials to increase the growth rate of livestock, poultry, and other farmed animals. In addition, China is one of the biggest producers and consumers of antibiotics. Thus, rise in utilization of antibiotics in livestock is expected to provide potential opportunities for the market growth.
The feed premix market is segmented into livestock, type, form, and region. On the basis of livestock, the market is categorized into swine, ruminants, poultry, aquatic animals, and others. By source, it is fragmented into conventional and organic. Depending on form, it is segregated into dry, liquid, and others. Region-wise, it is analyzed across North America (the U. S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Singapore, New Zealand, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa, UAE, and rest of LAMEA).
The key market players included in the feed premix market analysis are Alltech, Inc., BASF SE, Bentoli, Inc., BERTOL COMPANY s. r. o, Cargill, Incorporated, Clariant Ltd, Koninklijke DSM N. V., EW Nutrition GmbH, GLOBAL NUTRITECH, Impextraco N. V., Norel, S. A, SVH Holding N. V., Olmix S. A., Perstorp Holding AB, Simfa Labs Pvt. Ltd., Virbac S. A., and Kemin Industries.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the feed premix market analysis from 2021 to 2031 to identify the prevailing feed premix market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the feed premix market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global feed premix market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Livestock
- Swine
- Ruminants
- Poultry
- Aquatic Animals
- Others
By Type
- Vitamin
- Minerals
- Amino Acids
- Antibiotics
By Form
- Organic
- Conventional
By Region
- North America
- U. S.
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Russia
- Rest Of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Singapore
- New Zealand
- Rest Of Asia-Pacific
- LAMEA
- Brazil
- Argentina
- South Africa
- Saudi Arabia
- UAE
- Rest Of LAMEA
Key Market Players
- Koninklijke DSM N. V.
- BASF SE
- Cargill, Incorporated
- SVH Holding N. V.
- Alltech, Inc.
- Royal Agrifirm Group
- Archer Daniels Midland Company
- AgroFeed Ltd.
- De Heus Voeders B. V.
- Kemin Industries, Inc.
- Novus International, Inc.
- Phibro Animal Health Corporation
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Table of Contents
CHAPTER 1: INTRODUCTION1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market
CHAPTER 4: FEED PREMIX MARKET, BY LIVESTOCK
4.1 Overview
4.1.1 Market size and forecast
4.2 Swine
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Ruminants
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
4.4 Poultry
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market analysis by country
4.5 Aquatic Animals
4.5.1 Key market trends, growth factors and opportunities
4.5.2 Market size and forecast, by region
4.5.3 Market analysis by country
4.6 Others
4.6.1 Key market trends, growth factors and opportunities
4.6.2 Market size and forecast, by region
4.6.3 Market analysis by country
CHAPTER 5: FEED PREMIX MARKET, BY TYPE
5.1 Overview
5.1.1 Market size and forecast
5.2 Vitamin
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market analysis by country
5.3 Minerals
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country
5.4 Amino Acids
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market analysis by country
5.5 Antibiotics
5.5.1 Key market trends, growth factors and opportunities
5.5.2 Market size and forecast, by region
5.5.3 Market analysis by country
CHAPTER 6: FEED PREMIX MARKET, BY FORM
6.1 Overview
6.1.1 Market size and forecast
6.2 Organic
6.2.1 Key market trends, growth factors and opportunities
6.2.2 Market size and forecast, by region
6.2.3 Market analysis by country
6.3 Conventional
6.3.1 Key market trends, growth factors and opportunities
6.3.2 Market size and forecast, by region
6.3.3 Market analysis by country
CHAPTER 7: FEED PREMIX MARKET, BY REGION
7.1 Overview
7.1.1 Market size and forecast
7.2 North America
7.2.1 Key trends and opportunities
7.2.2 North America Market size and forecast, by Livestock
7.2.3 North America Market size and forecast, by Type
7.2.4 North America Market size and forecast, by Form
7.2.5 North America Market size and forecast, by country
7.2.5.1 U. S.
7.2.5.1.1 Market size and forecast, by Livestock
7.2.5.1.2 Market size and forecast, by Type
7.2.5.1.3 Market size and forecast, by Form
7.2.5.2 Canada
7.2.5.2.1 Market size and forecast, by Livestock
7.2.5.2.2 Market size and forecast, by Type
7.2.5.2.3 Market size and forecast, by Form
7.2.5.3 Mexico
7.2.5.3.1 Market size and forecast, by Livestock
7.2.5.3.2 Market size and forecast, by Type
7.2.5.3.3 Market size and forecast, by Form
7.3 Europe
7.3.1 Key trends and opportunities
7.3.2 Europe Market size and forecast, by Livestock
7.3.3 Europe Market size and forecast, by Type
7.3.4 Europe Market size and forecast, by Form
7.3.5 Europe Market size and forecast, by country
7.3.5.1 Germany
7.3.5.1.1 Market size and forecast, by Livestock
7.3.5.1.2 Market size and forecast, by Type
7.3.5.1.3 Market size and forecast, by Form
7.3.5.2 UK
7.3.5.2.1 Market size and forecast, by Livestock
7.3.5.2.2 Market size and forecast, by Type
7.3.5.2.3 Market size and forecast, by Form
7.3.5.3 Italy
7.3.5.3.1 Market size and forecast, by Livestock
7.3.5.3.2 Market size and forecast, by Type
7.3.5.3.3 Market size and forecast, by Form
7.3.5.4 France
7.3.5.4.1 Market size and forecast, by Livestock
7.3.5.4.2 Market size and forecast, by Type
7.3.5.4.3 Market size and forecast, by Form
7.3.5.5 Spain
7.3.5.5.1 Market size and forecast, by Livestock
7.3.5.5.2 Market size and forecast, by Type
7.3.5.5.3 Market size and forecast, by Form
7.3.5.6 Russia
7.3.5.6.1 Market size and forecast, by Livestock
7.3.5.6.2 Market size and forecast, by Type
7.3.5.6.3 Market size and forecast, by Form
7.3.5.7 Rest of Europe
7.3.5.7.1 Market size and forecast, by Livestock
7.3.5.7.2 Market size and forecast, by Type
7.3.5.7.3 Market size and forecast, by Form
7.4 Asia-Pacific
7.4.1 Key trends and opportunities
7.4.2 Asia-Pacific Market size and forecast, by Livestock
7.4.3 Asia-Pacific Market size and forecast, by Type
7.4.4 Asia-Pacific Market size and forecast, by Form
7.4.5 Asia-Pacific Market size and forecast, by country
7.4.5.1 China
7.4.5.1.1 Market size and forecast, by Livestock
7.4.5.1.2 Market size and forecast, by Type
7.4.5.1.3 Market size and forecast, by Form
7.4.5.2 Japan
7.4.5.2.1 Market size and forecast, by Livestock
7.4.5.2.2 Market size and forecast, by Type
7.4.5.2.3 Market size and forecast, by Form
7.4.5.3 India
7.4.5.3.1 Market size and forecast, by Livestock
7.4.5.3.2 Market size and forecast, by Type
7.4.5.3.3 Market size and forecast, by Form
7.4.5.4 South Korea
7.4.5.4.1 Market size and forecast, by Livestock
7.4.5.4.2 Market size and forecast, by Type
7.4.5.4.3 Market size and forecast, by Form
7.4.5.5 Australia
7.4.5.5.1 Market size and forecast, by Livestock
7.4.5.5.2 Market size and forecast, by Type
7.4.5.5.3 Market size and forecast, by Form
7.4.5.6 Singapore
7.4.5.6.1 Market size and forecast, by Livestock
7.4.5.6.2 Market size and forecast, by Type
7.4.5.6.3 Market size and forecast, by Form
7.4.5.7 New Zealand
7.4.5.7.1 Market size and forecast, by Livestock
7.4.5.7.2 Market size and forecast, by Type
7.4.5.7.3 Market size and forecast, by Form
7.4.5.8 Rest of Asia-Pacific
7.4.5.8.1 Market size and forecast, by Livestock
7.4.5.8.2 Market size and forecast, by Type
7.4.5.8.3 Market size and forecast, by Form
7.5 LAMEA
7.5.1 Key trends and opportunities
7.5.2 LAMEA Market size and forecast, by Livestock
7.5.3 LAMEA Market size and forecast, by Type
7.5.4 LAMEA Market size and forecast, by Form
7.5.5 LAMEA Market size and forecast, by country
7.5.5.1 Brazil
7.5.5.1.1 Market size and forecast, by Livestock
7.5.5.1.2 Market size and forecast, by Type
7.5.5.1.3 Market size and forecast, by Form
7.5.5.2 Argentina
7.5.5.2.1 Market size and forecast, by Livestock
7.5.5.2.2 Market size and forecast, by Type
7.5.5.2.3 Market size and forecast, by Form
7.5.5.3 South Africa
7.5.5.3.1 Market size and forecast, by Livestock
7.5.5.3.2 Market size and forecast, by Type
7.5.5.3.3 Market size and forecast, by Form
7.5.5.4 Saudi Arabia
7.5.5.4.1 Market size and forecast, by Livestock
7.5.5.4.2 Market size and forecast, by Type
7.5.5.4.3 Market size and forecast, by Form
7.5.5.5 UAE
7.5.5.5.1 Market size and forecast, by Livestock
7.5.5.5.2 Market size and forecast, by Type
7.5.5.5.3 Market size and forecast, by Form
7.5.5.6 Rest of LAMEA
7.5.5.6.1 Market size and forecast, by Livestock
7.5.5.6.2 Market size and forecast, by Type
7.5.5.6.3 Market size and forecast, by Form
CHAPTER 8: COMPANY LANDSCAPE
8.1. Introduction
8.2. Top winning strategies
8.3. Product Mapping of Top 10 Players
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Key developments
CHAPTER 9: COMPANY PROFILES
9.1 Koninklijke DSM N. V.
9.1.1 Company overview
9.1.2 Company snapshot
9.1.3 Operating business segments
9.1.4 Product portfolio
9.1.5 Business performance
9.1.6 Key strategic moves and developments
9.2 BASF SE
9.2.1 Company overview
9.2.2 Company snapshot
9.2.3 Operating business segments
9.2.4 Product portfolio
9.2.5 Business performance
9.2.6 Key strategic moves and developments
9.3 Cargill, Incorporated
9.3.1 Company overview
9.3.2 Company snapshot
9.3.3 Operating business segments
9.3.4 Product portfolio
9.3.5 Business performance
9.3.6 Key strategic moves and developments
9.4 Nutreco N. V.
9.4.1 Company overview
9.4.2 Company snapshot
9.4.3 Operating business segments
9.4.4 Product portfolio
9.4.5 Business performance
9.4.6 Key strategic moves and developments
9.5 InVivo Group
9.5.1 Company overview
9.5.2 Company snapshot
9.5.3 Operating business segments
9.5.4 Product portfolio
9.5.5 Business performance
9.5.6 Key strategic moves and developments
9.6 Jubilant Life Sciences Ltd
9.6.1 Company overview
9.6.2 Company snapshot
9.6.3 Operating business segments
9.6.4 Product portfolio
9.6.5 Business performance
9.6.6 Key strategic moves and developments
9.7 Koninklijke Coöperatie Agrifirm U. A.
9.7.1 Company overview
9.7.2 Company snapshot
9.7.3 Operating business segments
9.7.4 Product portfolio
9.7.5 Business performance
9.7.6 Key strategic moves and developments
9.8 Phibro Animal Health Corporation
9.8.1 Company overview
9.8.2 Company snapshot
9.8.3 Operating business segments
9.8.4 Product portfolio
9.8.5 Business performance
9.8.6 Key strategic moves and developments
9.9 Archer Daniels Midland Company
9.9.1 Company overview
9.9.2 Company snapshot
9.9.3 Operating business segments
9.9.4 Product portfolio
9.9.5 Business performance
9.9.6 Key strategic moves and developments
9.10 agrofeed
9.10.1 Company overview
9.10.2 Company snapshot
9.10.3 Operating business segments
9.10.4 Product portfolio
9.10.5 Business performance
9.10.6 Key strategic moves and developments
9.11 novus international
9.11.1 Company overview
9.11.2 Company snapshot
9.11.3 Operating business segments
9.11.4 Product portfolio
9.11.5 Business performance
9.11.6 Key strategic moves and developments
9.12 de heus llc
9.12.1 Company overview
9.12.2 Company snapshot
9.12.3 Operating business segments
9.12.4 Product portfolio
9.12.5 Business performance
9.12.6 Key strategic moves and developments
Executive Summary
According to this report, titled, 'Feed Premix Market,' the feed premix market was valued at $5.1 billion in 2021 and is estimated to reach $11.4 billion by 2031, growing at a CAGR of 8.8% from 2022 to 2031. North America was the highest revenue contributor, accounting for $1,983.0 million in 2021, and is estimated to reach $3,999.3 million by 2031, with a CAGR of 7.7%.Meat production and consumption have increased rapidly over the years due to the increased disposable income of consumers and the health benefits offered by meat. In addition, meat is a rich source of proteins, important vitamins, and various other nutrients, such as iron, zinc, B12, and B6. It has been observed that meat consumption in developing economies is higher than the developed regions. The economic growth, changes in lifestyle, population growth, and other structural changes are driving the livestock revolution, hence supplementing the overall growth of the feed premix market.
However, government intervention in the usage of feed premix in every country is expected to restrain the market growth. The premix types used in animal feed are banned in some countries. As a result, the feed manufacturers carry out formula adjustments and make changes in feed processing, which is a time-consuming process. Thus, the implementation of stringent regulations hampers the market growth. Moreover, fluctuations in raw material prices are also expected to limit market growth.
The feed premix market is segmented into livestock, type, form, and region. Depending on livestock the market is divided into swine, ruminants, poultry, aquatic animals, and others. On the basis of type, the market is segregated into vitamins, minerals, amino acids, and antibiotics. On the basis of form, the market is bifurcated into organic and conventional. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for more than 35% share of the total revenue in 2021, followed by Europe and Asia-Pacific.
The report focuses on the feed premix market growth prospects, restraints, and Feed Premix Market Opportunity. The study provides Porter’s five forces analysis to understand the impact of various factors such as the competitive intensity of competitors, the bargaining power of suppliers, the threat of substitutes, the threat of new entrants, and the bargaining power of buyers of the feed premix market.
The players operating in the global feed premix market have adopted various developmental strategies to increase their Feed Premix Market Share, gain profitability, and remain competitive in the market. The key players included in the Feed Premix Market Analysis are, DSM, BASF SE, Cargill, Incorporated, Nutreco N.V., InVivo Group, Jubilant Life Sciences, Koninklijke Coöperatie Agrifirm U.A., Phibro Animal Health Corporation, Archer Daniels Midland Company, Agrofeed, and Novus international.
Key findings of the study
On the basis of livestock, the poultry segment has the major Feed Premix Market Size in 2021 with a market share of more than 45%. However, the aquatic animal segment is attributed to be the fastest-growing segment during the Feed Premix Market Forecast period.On the basis of type, the vitamin segment dominated the feed Premix Industry in the year 2021 with a market share of more than 55%. However, the minerals segment is likely to be the fastest-growing segment during the forecast period with a CAGR of 10.8%.
On the basis of source, the conventional segment dominated the global market in the year 2021 with a market share of more than 80%. However, the organic segment is likely to be the fastest-growing segment during the forecast period with a CAGR of 9.9%.
Region-wise, North America was the highest revenue contributor and is estimated to reach $ 3.9 billion by 2031. Whereas, the Asia-Pacific region is likely to be the fastest-growing region during the forecast period.
Companies Mentioned
- Koninklijke DSM N.V.
- BASF SE
- Cargill, Incorporated
- Svh Holding N.V.
- Alltech, Inc.
- Royal Agrifirm Group
- Archer Daniels Midland Company
- Agrofeed Ltd.
- De Heus Voeders B.V.
- Kemin Industries, Inc.
- Novus International, Inc.
- Phibro Animal Health Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 232 |
| Published | October 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 5097.7 million |
| Forecasted Market Value ( USD | $ 11361.6 million |
| Compound Annual Growth Rate | 8.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
