Poultry Feed Premix Market - Forecasts from 2024 to 2029

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$5.600 billion in 2022.

Feed premixes are complex mixtures of essential minerals, vitamins, and other nutritional additives that are mixed with proteins and amino acids to increase the nutritional value of feeds. Certain premixes are made to support particular purposes; fish feed premixes, for instance, are made to meet the dietary requirements of fish. Feed premixes protect farm animals from a variety of health problems while also enhancing their overall performance. Feed Premix also helps the animals by boosting their metabolic rates, bolstering their immune and reproductive systems. Further, the global feed premix market is driven primarily by the growing demand for premium animal products, including meat, milk, and eggs. Feed premix demand is fueled by the pressure on livestock farmers to raise the quality of their products as consumers around the world look for safer, healthier, and more nutritious options. Furthermore, feed premixes are vital to accomplishing this objective because they guarantee that animals get the essential nutrients required for healthy growth, development, and general well-being. Farmers can improve the nutritional value of animal products, meeting consumer expectations and increasing their competitiveness in the market, by adding premixes to their feed formulations.

Increasing use of PVC Adhesive in the construction industry propels the market.

The global poultry feed premix market is projected to rise at a low growth rate. The industry is expected to be affected by changing environmental, technological, and governmental regulations which are anticipated to challenge market growth as well. In addition, the increasing advancements, and market developments including product launches, collaborations, agreements, acquisitions, and other related factors. The rising consumption of poultry globally is also expected to affect the market trajectory. However, with projections of a healthy growth rate worldwide, the market is expected to rise steadily. 

It is estimated that international feed production will increase to 1.266 billion metric tons of feed produced in 2022 based on data in the eleventh edition of Alltech's annual feed production survey. Further, Premix feed is becoming more and more popular as a result of the livestock industry's explosive growth around the world to meet the growing demand for animal-derived protein. Furthermore, there is an increasing demand for food sources high in protein as the world's population grows. More productive animal production systems that can produce more meat, milk, and eggs are required to support this expansion. Livestock producers can maximize their animals' growth rates and feed efficiency with the help of feed premixes, leading to higher yields. In addition, the market is growing due to the increasing use of premixes that are suited to particular animal species and growth stages, which enable farmers to maximize their output while maintaining the welfare of the animals.

Moreover, the competitive production structures, modern poultry genetics, ample domestic feed resources, and strong consumer appeal of American poultry products have allowed them to maintain their leading positions in both the domestic and international meat commodity markets. Sales in the poultry industry as a whole reached $76.9 billion in 2022, up 67% from the previous year. Sales of broilers rose by sixty percent, turkeys by twenty-one percent, and eggs by twenty-two percent. From 2021, only broilers saw an increase in production. Rising costs impacted all three industries in 2022, but the outbreak of highly pathogenic avian influenza (HPAI) had a particularly negative effect on the egg and turkey industries. Between 2021 and 2022, benchmark prices rose by 138.3 percent for eggs, 25.9 percent for turkeys, and 38.9 percent for broilers.

The market is projected to grow in the Asia Pacific region.

The Asia Pacific region is anticipated to grow at a significant rate in the forecast period as a result of favorable production costs and robust export demand. Poultry production has evolved from a backyard hobby to a highly industrialized enterprise. Farmers in the area are spending more money on premium feed to give their animals the best possible nutrition. North America and European regions are also expected to have subsequent market shares.

Key Market Developments:

August 2023, Koninklijke DSM N.V. introduced Symphiome, a new feed ingredient category that promotes microbiome production to improve avian gut health and may boost the company's commercial prospects.

Key Players:

DSM is the world's leading company offering customized blends of functional ingredients for feeds with vitamins, minerals, amino acids, and nucleotides, among others.
Cargill, Incorporated is a key market player, providing feed and nutrition services for livestock and fish species to cater to all the unique requirements of its customers. The company is backed by a powerful and robust innovation organization to enhance poultry productivity.
Phibro Animal Health Corporation is a major company offering diversified animal health and mineral nutrition products worldwide. The company offers sustainable products to optimize animal health.

Segmentation:

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