The value of the global feed premix market in 2019 was $38. 5 billion and increased to $45. 76 billion in 2023. The global feed premix market has witnessed a year-on-year expansion rate of 5. 1% annually between 2019 and 2023.
According to the new market estimates report, the market value is expected to increase at a rate of 7. 4% over the next ten years. Following this higher growth rate, the net profit generated through the global market is expected to reach $102. 7 billion through 2034.
Traditionally, feed premixes were requested to meet consumers’ desires for quick and simple food solutions. Conversely, consumers have lately preferred feed premixes that offer additional nutritional benefits, such as nutrients and minerals, in line with the growing popularity of fitness and wellness trends.
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The demand for micronutrient-enriched premixes has increased in the livestock sector due to the expansion of the foreign industry in food products of animal origin. Therefore, industries around the world employing protein-rich ingredients to prepare animal feed are expected to increase. the productivity of feed premixes in the coming days.
“Market players in evolved economies are reaping benefits from a well-established sales channel and are expanding their control in the global market with the proliferation of online retail channels. Government micronutrient improvement systems in emerging countries in Africa and Asia are very likely to inspire the emergence of new market players in those regions.
Key takeaways from the Feed Premixes market research report:
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Competitive Landscape for Food Premixes Market Players:
Competition among food premix brands intensified after the pandemic years, when many governments began encouraging industries to offer preventative fitness solutions. However, major market players still account for a significant percentage of the global market due to the increased popularity of the logo and lengthy origin chains.
Top Key Companies Profiled
Recent in the Feed Premix Industry:
In September 2023, Fermenta Biotech Company announced the opening of its new premix production facility in India. The purpose is to supply custom designed premixes for industries, adding beverages, nutritional beverages, bakery and confectionery, ready-to-use healing foods (RUTF), ready-to-use complementary foods (RUSF), nutritional supplements and staple foods fortification.
In May 2023, DSM, a well-known fitness and nutrition company, proposed to expand its next-generation nutritional premix factory in Kansas. Construction of the facility began in July 2023 and is expected to be completed in early 2025. From this new site, high-quality nutrient premixes for the production of premium puppy food products will be provided to the global puppy food industry corporation.
Key segments in the Feed Premix Industry Survey Report:
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