(Food-Beverage-News.Com, October 11, 2022 ) According to Precision Business Insights (PBI), the latest report global feed premix market size is valued at USD 23.18 billion in 2021 and poised to grow at a significant CAGR of 6.3% during the forecast 2022-28. The nutritional value of the feed can be improved by adding vitamins, feed supplements, trace minerals, as well as other ingredients to feed premixes. Their main duty is to maintain the animals' health and well-being. The premix feed includes additives for vitamins, minerals, amino acids, and antibiotics. To ensure adequate homogeneity of the feed additives in the finished feed, feed premix improves the accuracy of mixing and distributing these chemicals throughout the feed.
Growing awareness of the advantages of feed premix among cattlemen and herders has significantly aided the expansion of the worldwide feed premix industry. The premixed feed gives animals nourishment and raises the quality of compound feed, particularly in weaning animals. The performance, as well as the health of animals, are also improved by feed premix. The expanding use of cutting-edge technologies to create feed premix and the increased focus on animal health to stop disease outbreaks will both contribute to the market's development. The increasing appetite for meat in various emerging nations is a crucial factor driving demand in the worldwide feed premix market. Cattlemen, therefore, ensure the animals' health. Additionally, it is anticipated that rising pet ownership will fuel demand in the worldwide feed premix market.
The Feed Premix Market Segmentation
The global Feed Premix Market on the basis of Product Type, the market is categorized into Vitamins, Aminoacids, Minerals, Antibiotics, and Others. On the basis of Mixture Type, the market is segregated into Poultry, Swine, Bovine, Canine, Feline, and Others.
• Due to the great significance placed on livestock health and cleanliness and the significant number of animals that are lost to various ailments and cases of flu like the avian flu, new growth prospects in the worldwide feed premix market are anticipated.
• The need for meat, dairy, and dairy products that are free of chemical residues and safe for the environment is also anticipated to fuel growth in the market for feed premix.
Globally, North America holds a major share of the world market for feed premixes. The market shareholding for feed premix, however, is probably going to shift in the upcoming years. Due to the European Union's ban on antibiotics used as growth promoters, Europe is also anticipated to experience a little increase in this sector.
The major players operating in the Feed Premix Market are BASF SE, Land O’Lakes, Inc., Godrej Agrovet Limited, Koninklijke DSM N.V., Invivo Group, Danish Agro, BDT Group, ForFramers B.V., De Hues Group
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