Feed Premix Market size is projected to exceed USD 10.5 billion by 2023, at more than 2.9% CAGR. Rising consumer awareness about product health benefits may drive premix market.
Rise in animal production for meat consumption in India, China and Brazil should favor market size growth. U.S. and China are key producing countries. The U.S. market is focused on innovating cost-effective production process.
Global poultry feed premix market is expected to exceed over USD 2.1 billion by 2023, at more than 3.5% CAGR. Global aqua feed premix market is projected to exceed USD 400 million by 2023, at more than 4% CAGR. Consumption of fish and fish products is highf in the aquaculture industry.
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Ruminant feed premix market is expected to exceed over USD 1.7 billion by 2023, at more than 3.2% CAGR. Increase in processed cattle meat consumption coupled with growing concern for animal safety from diseases may pave way for feed premix market growth.
U.S. is the leading producer of poultry products. Increase in processed poultry consumption led to high demand of quality meat in industry. Key elements, vitamins and minerals are important for animal metabolism. Vitamin premix dominated the overall consumption and may witness significant gains up to 2023.
The successive growth in the market is possible globally only by creating awareness among the farmers. Lack of product awareness and rising raw material cost may affect overall industry and impact feed premix market price trend. Consumers prefer white meat over red meat which has led to increase in demand owing to health benefits from poultry meat consumption. This factor has lead to support market demand.
The cattle feed additives market is projected to exceed USD 3 billion by 2023 at more than 3.5% CAGR. Increasing awareness in this market helps in improving weight, digestion, vitamin deficiencies and protecting against diseases. Increasing consumer awareness regarding livestock health and hygiene may create growth opportunities for feed premix market. The product provides healthy nutrition, increase metabolism and improves livestock health.
Amino acid helps improve digestibility of animal diet. Lysine, threonine, methionine and tryptophan are mainly used in additives. China is the leading producer of lysine, methionine and threonine. China accounts for more than 60% of world lysine production capacity. Amino acids market was over 7 million tons in 2015 and is projected to exceed more than 10 million tons by 2023 with estimated gains at 5.5% CAGR. Amino acid market is expected to exceed USD 35 billion by 2023. Methionine is used by poultry market and lysine is consumed by the pork industry.
Tyrosine is used in dietary supplement production. By 2023, animal based amino acids is projected to exceed more than 4.1% CAGR. Amino acids is used as dietary and sports supplements and is expected to effect the market growth.
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Europe has banned antibiotics as a growth promoter, but its application is prevalent in Asia Pacific market region. In the U.S., the avian flu outbreak was responsible for the loss of million of chickens, and other poultry products in 2015. North America premix market size was dominant followed by Asia Pacific and expected to exceed USD 3 billion by 2023. By 2025, the industry is expected to grow in India, China, and Brazil.
Europe premix market size, dominated by France, UK and Germany, is expected to focus increasing product penetration by making livestock producers aware of the importance for animal health and animal husbandry industry. South America, dominated by Brazil and Chile, may witness increase in product consumption owing to rise disposable income coupled with growth of aquaculture industry.
Poultry based feed premix market was dominant in North America. Pork application may witness significant increase in demand owing rising consumption in Asia Pacific. Growth in fish industry is also expected to high product demand.
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