The Asia-Pacific feed premix market was valued at USD 24.31 billion in 2023 and is anticipated to reach USD 25.43 billion in 2024 from 36.44 billion by 2032, growing at a CAGR of 4.60% during the forecast period from 2024 to 2032.
Feed premix is a value-added solution for feeds with sustainable safety and quality. The main objective of food premixes is to deliver the micro-ingredients in a manner desired by the consumer. It provides strength to the bones and muscles of the livestock for healthy growth and higher production. It also ensures proper coagulation of blood in livestock.
Increasing awareness among farmers about the pros of using feed premixes is raising the demand in the Asia-Pacific region. Consumers preferring white meat over red meat has increased demand due to health benefits from poultry meat consumption.
However, a lack of product awareness and rising raw material costs may affect the overall industry and impact the feed premix market price trend.
In type, Vitamins are the most widely used premix. The demand for feed premixes in the poultry industry accounted for the largest share and is projected to be the fastest-growing segment.
On a geographical basis, the Asia-Pacific feed premix market is segmented into: China, India, Japan, Australia, and others. China is the key market in the world for the consumption of feed additives and premix. Pork applications may witness a significant increase in demand owing to rising consumption in Asia Pacific. Increasing consumer awareness regarding livestock health and hygiene is creating growth opportunities for the feed premix market in this region.
Cargill, Koninklijke DSM N.V, Nutreco N.V, Archer Daniels Midland Company, InVivo Nutrition et Sante Animales. Existing companies such as DSM and Nutreco have been actively involved in the acquisition of regional suppliers and ingredient manufacturers in these regions to strengthen their market presence. Key strategies are being employed by major companies in developing Asia-Pacific markets through the expansion of manufacturing plant capacities to meet the growing feed premix demand.
Frequently Asked Questions
Asia-Pacific feed premix market is expected to be valued at USD 24.31 billion in 2023 and reach USD 30.45 billion by 2028, growing at a CAGR of 4.60% during the forecast period from 2023 to 2028.
Asia-Pacific feed premix market segments are covered by Ingredient Type and live Stock.
Vitamins are the most widely used premix. The demand for feed premixes in the poultry industry accounted for the largest share and is projected to be the fastest-growing segment.
China is the leading region and key market in the world for the consumption of feed additives and premix.
Cargill, Koninklijke DSM N.V., Nutreco N.V., Archer Daniels Midland Company, InVivo Nutrition et, Sante Animales, etc.. are some of the leading players in this market.
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