The European feed premix market was valued at USD 19.63 billion in 2023 and is projected to reach USD 20.08 billion in 2024 from USD 24.09 billion by 2032, growing at a CAGR of 2.30% during the forecast period from 2024 to 2032.
Feed premixes consist of different feed additives mixed with diluents that facilitate the rate of mixing. Feed premix ensures uniformity and homogeneity in feed for better nutrient availability. Premixing has progressed from the simple hand mixing of several ingredients to mechanical mixing, to continuous mixing, and now to computer-controlled mixing. The premix industry is charged with the responsibility of manufacturing a high-quality premix consistently, efficiently, and economically.
An increase in consumption of processed poultry will require a continuous supply of high-quality meat. This is driving the market for poultry which is in return driving the market growth of feed premixes. Also, with the latest technologies that focus on bettering the quality of the premixes, there is a constantly increasing demand for premixes.
However, Europe has banned antibiotics as a growth promoter. Therefore, there has been a fall in demand, which affects the market growth rate.
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.
It has a market share of about 22% and is just trailing behind the Asia-Pacific region. Europe is anticipated to grow steadily due to the increasing importance of animal health and wellness in the animal husbandry industry.
Cargill, Koninklijke DSM N.V, Nutreco N.V, Archer Daniels Midland Company, InVivo Nutrition et Sante Animales, and 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.
Frequently Asked Questions
The European feed premix market is expected to be valued at USD 19.63 Billion in 2023.
Europe's feed premix market is expected to reach USD 22.05 Billion by 2028, at a CAGR of 2.30% during the forecast period from 2023 to 2028.
Europe feed premix market segments are covered by Ingredients and Livestock.
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.
Cargill, Koninklijke DSM N.V., Nutreco N.V., Archer Daniels Midland Company, InVivo Nutrition et, Sante Animales, etc... are some of the major key players involved in this market.
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