Poultry Feed Premix Market – An Introduction
Premix can be defined as a substance that is added or mixed in early stages of manufacturing and distribution process. A poultry feed mix refers to a concentrated mixture of vitamins, minerals, medicaments, feed supplements, diluents and other nutrients that is mixed with the poultry feed to ensure quality of poultry products in addition to improving poultry health. With the poultry farming activities becoming more specialized, the requirement for nutritionally complete poultry feed is being supplied by global poultry feed premix market.
A healthy and vibrant poultry industry requires regular supply of poultry feed premix so that the industry can grow effectively. For commercial poultry farming, poultry feed serves as the largest cost of the operation and as such; the poultry feed premix market is the largest supplier of such feed thereby making its contribution towards the growth of poultry industry. Poultry feed premix is an essential part of the globally increasing livestock and meat production industry.
The global poultry feed premix market was valued worth $2.09 million in 2018 with a CAGR of 3.20% and is expected to reach $2.45 million by the end of 2023. The industrial production of poultry is more when compared with any other type of meat and as such, manufacturers supply premixes to ensure adequate supply of nutrients to animals that enhance the quality and productivity of the poultry animals.
Factors responsible for the growth of global poultry feed premix market-
The growth of global poultry feed premix market as per a reputed poultry feed premix market report are due to the following factors or trends.
- An increased demand for poultry meat especially in the developing economies
• A shift in consumption pattern from red meat to white meat due to health factors
• An increase in the consumption of processed poultry products
• Global increase in the population is driving the need for supporting the growth of the world meat market
• A rise in mass production of meat and livestock disease outbreaks
• Rise in the prices of natural feed products is creating opportunities for poultry feed premix products
• Environmental issues in addition to regulatory ban on some of the harmful additives is also a factor in the demand for poultry feed premix
As per some of the studies carried on poultry feed premix market reports, the market is expected to grow steadily over the next 5 years with some of the factors such as government regulations, volatile economies and increased cost of operations inhibiting the growth of this market.
Segmentation of poultry feed mix market – an analytical report
The global poultry feed mix market is segmented or divided into Ingredient Type, Livestock and Geographical Regions. Based on the Type – the poultry feed mix market is segregated into Minerals, Antibiotics, Vitamins, Amino Acids and other ingredients. The Vitamins segment has the largest share in the global poultry feed mix market as vitamins play a key role in the growth of the livestock production and in improving their immunity. Mineral segment occupies the next rank in terms of share in the global poultry feed mix market.
Based on Livestock – the market is segmented into broiler, turkey etc with broilers occupying the biggest share under the livestock segment. The increased demand for broiler meat is the main reason behind the growth of broilers under this segment.
Based on Geographical Region – North America accounts for the largest market share accounting for around 35% of the global poultry feed mix market. The Asia-Pacific regions is emerging as the fastest growing region due to potential market demand from countries such as China, India, Brazil and other developing economies. The Asia-Pacific Region is expected to grow at fastest at a CAGR of 3.6% in the coming decades. The South-American market is also emerging as one of the potential market due to the lenient feed related regulations of the respective governments of the South-American region.
The key players or companies involved in the manufacture of poultry feed mix include MNCs such as Cargill, Archer Daniels Midland Company, Nutreco N.V., Koninklijke DSM N.V.Nippai etc. These leading companies are always on the lookout for expanding their businesses across the regions and therefore are setting up plants and manufacturing facilities to increase production capabilities and product lines in the global poultry feed mix market.
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