Global Poultry Feed Premix Market - Forecasts from 2024 to 2029

Global Poultry Feed Premix Market - Forecasts from 2024 to 2029

The global poultry feed premix market is projected to rise at a compound annual growth rate (CAGR) of 3.17% to reach a market valuation of US$6.968 billion by 2029, from US$5.961 billion in 2024.

Feed premixes play a crucial role in the nutritional value of feeds. They combine essential minerals, vitamins, and other nutritional additives. No single premixes satisfy the requirements for all animals, but fish feed premix is characterized by the presence of ingredients that satisfy the fish's dietary requirements.

Feed premix protects farm animals against various health problems and boosts their performance. It helps keep the animals healthy and increases their general productivity. It also helps the animals by increasing the rate at which their bodies use what they eat, making them more resistant to disease, and improving the way they reproduce.

Further, the main driver for the global development of the feed premix market is the increasing need for quality livestock products such as eggs, milk, and meat. Safer, healthful, and nutritious alternatives are increasingly becoming sought after by consumers globally as they put pressure on animal farmers to improve the standard of their produce.

Furthermore, these feed premixes help greatly in ensuring that the animals receive all the required nutrients for good growth, development, and overall health, which is also beneficial. By incorporating such products into their feed formulations, producers can produce foodstuffs with higher nutritional content than what is currently available from animals that barely meet protein standards. Furthermore, it is believed that the eleventh edition of Alltech's annual feed production survey data resulted in the production of 1.266 billion metric tons of international feed in 2022.

GLOBAL POULTRY FEED PREMIX MARKET DRIVERS:

The increasing demand for quality animal products is expected to propel the cryogenic market expansion.

The increasing need for high-quality animal products, such as meat, milk, and eggs, has contributed significantly to boosting the international and local feed premix markets. The pressure farmers face globally to better their products and offer safer, healthy, nutritious ones has been another spearing factor. For instance, projections indicate that by 2032, global meat production will have increased by 41 Mt cwe to an estimated 382 Mt cwe. Most of this growth is expected to occur in Asia, where a 20-mt increase in poultry production will be the driving force.

Additionally, the population of broilers, modern condition of bird genetics, wide variety of domestic forages available, and a unique consumer taste quality were created over time. This makes it possible for American chicken, even at present, to remain the market leader not only within America but worldwide in the meat commodity trade. The total sales value of all broiler chicken meat market segments is estimated at 76.9 billion US dollars, reflecting 67% growth over the past year’s fiscal period. Poultry prices rose from 113.3 pounds in 2020 to 115.20 pounds in 2021.

Additionally, various countries have begun to help their agriculturalists by issuing grants and subsidies, as well as offering technical support, hence boosting their sales of chicken and beef for many years. This is because they are striving to meet international markets in terms of both quality assurance & quantity production, which, together with improving their performance through excellent infrastructure. These policies would help most of them become competitive internationally and, therefore, never rely on foreign aid even if there is an increased need for raw materials. In India, the government gives out loans, subsidies, and grants through PEDS towards acquiring livestock and paying for capital improvement-related activities in the poultry business, among other things.

Accordingly, the relevant government agencies from various countries are working together to develop the chicken sector, which is supporting the market's expansion even more. For example, USAID launched the USAID Partnership for Poultry project in Butwal, Lumbini Province, Nepal, in March 2023. The occasion, which brought together stakeholders from agriculture and beyond and emphasized teamwork as essential to the prosperity of Nepal's poultry industry, is said to have been a major feed premix market growth strategy. The USAID-funded project being launched by Shreenagar Agritech Centre-based company in Nepal, which will last for three years and cost 2 million dollars, is intended to be implemented to increase the incomes of 7000 smallholder farmers and enterprises. Thereby enhancing prospects for private sector-led, pro-poor economic development. This intervention is anticipated to quicken their market expansion in the future.

GLOBAL POULTRY FEED PREMIX MARKET GEOGRAPHICAL Outlook

China is predicted to contribute at a significant pace to market growth

China is expected to propel in the feed premix market in the projected period, as there is a large presence of livestock population in the country. Moreover, the number of livestock is anticipated to grow significantly in the coming years. Additionally, poultry imports and exports are feather expected to play a major role in the regional poultry feed premix market. For instance, according to the United States Department of Agriculture (USDA), in 2023, China is expected to export poultry and meat products (excluding eggs) worth 732.75 million. Hence, rising exports are expected to have a positive impact on market growth in the projected period.

Moreover, factors such as growing awareness among animal farmers about nutrition feed, coupled with the increasing expansion of the swine and swine feed industry, are anticipated to boost the market for swine feed additives in the projected period. For instance, according to the United States Department of Agriculture (USDA), poultry production in China for 2023 was estimated to reach 14.3 million metric tons (MMT).

Companies see China as one of the leading markets for animal feed premix and are, hence, investing in new facilities in the country. For instance, in September 2022, Adisseo, one of the major experts in feed additives, launched the 1,80,000-ton project for liquid methionine. Methionine is effectively used to boost meat yield and business results.

According to the OECD-FAO Agricultural Outlook 2023-2032, poultry meat consumption is expected to increase in the coming years. In 2022, poultry meat consumption was 24,581 (kt rtc), which is expected to increase to 25,223 (kt rtc) by 2032. Hence, with the increasing consumption of poultry meat, the demand for poultry feed premix is anticipated to grow in the coming years.

Global Poultry Feed Premix Key Market Developments:

August 2022- Koninklijke DSM N.V. introduced Symphiome in August 2023, a novel feed ingredient category aimed at growing the microbiome to boost avian gut health and enhance the company's commercial prospects.

Market Segmentation:

The Global Poultry Feed Premix Market is segmented and analyzed as below:

By Type
Vitamins
Minerals
Amino Acids
Others
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
UK
Germany
Italy
Spain
Others
Middle East and Africa
Israel
Saudi Arabia
Others
Asia Pacific
China
Japan
India
Australia
South Korea
Taiwan
Thailand
Indonesia
Others