Feed Premix Market Size, Share, Industry, Forecast and outlook (2023-2030)
Premix is an essential component in animal nutrition, as it improves the compound feed quality and food, particularly in weaning animals.This improved nutritional quality enhances animal performance and health; subsequently, improving the yield and quality of animal-derived products.
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Market Dynamics
The primary factor driving factors of the global Feed Premix Market is increasing meat consumption across the world, mass production of meat coupled with increasing demand for quality beef.Rising awareness among farmers about the benefits of feed ingredients is also anticipated to propel the growth of the global feed premix industry. Additionally, the growing population in developing countries has increased the demand for ruminants and other livestock, which has uplifted the need for feed premix in the market.However, the growing cost of raw materials and regulatory structure are restraining the growth of the animal feed premix market. Lack of product awareness also affects the overall industry and impacts the feed premix market price trend.
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Segment Analysis
The global animal feed premix market is segmented on ingredients such as Vitamins, Amino Acids, Antioxidants, Antibiotics, Minerals, and Others.Among them, the Vitamins segment accounted for the largest market share followed by the minerals segment. Minerals and vitamins have been gaining substantial growth for serving as an essential component in boosting the growth of livestock and in the development of the immune system.The importance of trace minerals such as zinc, manganese, iodine, and selenium for their functional benefits resulted in the steady growth of this segment along with vitamins.
Competitive Landscape
The global Feed Premix Market products are fragmented with a large number of local and international players. However, InVivo NSA, BIOMIN America Inc, and Cargill, Inc. are the leading suppliers of feed premixes in the world. These three Companies combine hold around 20% of the total market.
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