The Poultry Feed Premix Market size is estimated at USD 6.87 billion in 2024, and is expected to reach USD 8.19 billion by 2029, growing at a CAGR of 3.60% during the forecast period (2024-2029).
Vitamins are one of the most important ingredients in poultry feed. The industry average allowance of vitamins, a major ingredient in premix products, increased significantly from 30% to 500%, over the past decade, in order to cope with better feed efficiency, faster growth rates, and greater genetic potential, all working in tandem to drive the premix market. Poultry breeding also witnessed a consistent improvement in the genetic stock. This necessitates the need for continuous modification of the vitamin requirement of poultry. In addition to being an important ingredient for increasing survival rates and immunity, poultry grown under common stress conditions is greatly improved by increased vitamin supplementation. Under intensive growing conditions, poultry birds are especially susceptible to vitamin deficiencies and, hence, the increasing industrialization of poultry production is expected to drive the vitamins segment of the poultry feed premix market.
The Asia-Pacific region produced 34.6 million metric ton of chicken meat in the year 2017. The region is the highest poultry production region across the world. The consumption is particularly high in countries such as China, India, Thailand because of rising income of middle-class population, availability of poultry meat at cheaper cost due to production cost benefits and strong export demand. From a small-scale backyard industry, poultry has transformed to be highly industrialized in production scale. Farmers in the region are increasingly investing in high-quality feed to provide optimum nutrition to animals. With increase in poultry consumption, and the resultant impetus to industrialization, the Asia-Pacific region is expected to remain the top regional market for Poultry Feed Premix over the forecast period.
The poultry feed premix market is fragmented in nature, with the top global and regional players competing fiercely with local manufacturers. Expansions and investments are the most preferred growth strategies, followed by mergers and acquisitions, in the market studied. The major companies are focused on the expansion of the business across regions and setting up new plants for increasing production capacity, as well as product lines. The major players in the market are Cargill Inc., Archer Daniels Midland Company, Land O' Lakes Inc., DBN Group, and DSM Animal Nutrition, among others.
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