How Big is The Feed Premix Industry:
The global feed premix market reached US$ 19.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 26.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5.1% during 2023-2028.
IMARC Group, a leading market research company, has recently releases report titled “Feed Premix Market Trends: Global Industry Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
What are Feed premix?
Feed premix, also known as animal feed premix or nutritional premix, is a concentrated mixture of essential nutrients, vitamins, minerals, and additives that are added to animal feed to ensure optimal nutrition and health. It serves as a crucial component in the formulation of balanced and complete animal diets.
The purpose of feed premix is to address nutritional deficiencies and enhance the overall nutritional value of animal feed. It contains a precise blend of ingredients that are carefully selected to meet the specific dietary requirements of different animal species, life stages, and production goals. These ingredients may include vitamins (such as A, D, E, and various B vitamins), minerals (such as calcium, phosphorus, and trace minerals like zinc, copper, and selenium), amino acids, enzymes, probiotics, and other feed additives
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What are the growth prospects and trends in the Feed Premix Industry:
The escalating demand for livestock-based products to provide several micronutrients to animals is among the primary factors driving the feed premix market. Besides this, continuous technological advancements in the production of these mixtures and the elevating requirement for compound meals that offer essential nutrients to animals according to various physiological necessities are further augmenting the market growth.
Moreover, the leading players are extensively investing in research and development (R&D) activities to introduce safe and nutrient-dense feed premix for improving quality and safety while maintaining cost-effectiveness, which is also catalyzing the global market. Apart from this, the growing popularity of high-value proteins and the declining feed conversion rates are acting as significant growth-inducing factors. Additionally, the increasing concerns toward animal health and wellness are also stimulating the market growth. Furthermore, the rising need for environmentally safe and chemical-residue-free meat and milk products is expected to bolster the feed premix market in the coming years.
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