Global Feed Premix Market: Overview
Increasing knowledge among cattleman and herdsman about the benefits of feed premix has largely benefited the growth in the global feed premix market. Feed premix provides nutrition to animals and improves the compound feed quality especially in weaning animals. Feed premix also enhances animal’s health and performance. Additionally, increasing focus on animal health to prevent disease outbreak and growing use of advanced technologies to develop feed premix is will further benefit growth in this market.
Another significant factor driving demand in the global feed premix market is growing preference for meat in various developing regions. Therefore, cattlemen are ensuring health of the animals. Moreover, growing preference for pet animals is also projected to drive demand in the global feed premix market.
Pertaining to the aforementioned factors, various other parameters are also discussed in the report. It includes geographical reach, competitive profile, segmentation, and ongoing trends in the market. All these information will help the key market participants to make better decisions to expand their business in the coming years.
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Global Feed Premix Market: Notable Developments
Vendors operating in the global feed premix market are focusing on various organic and inorganic business development strategies to gain a larger share in the market. Acquisition and collaboration will also help them in stretching their presence in different regions. For example:
- Recently, Neovia has acquired Apligén, a Mexican company producing specialty feed, premix, and additives. This acquisition will expand Neovia’s premix business with high quality products and services and will help the company to meet the growing demand for feed premix. It will also benefit the company in expanding its presence in Asia Pacific region.
- A premix and nutrition subsidiary of DLG Group, Vilofoss sets an alliance with Indian milk and dairy product manufacturer Prabhat Dairy. The company is planning to launch a separate animal nutrition business. This agreement will help the company to strengthen its position in the animal nutrition market.
Other prominent players operating in the global market are AB Agri Ltd., Koninklijke DSM N.V., Nutreco N.V., Cargill, Incorporated, InVivo Nutrition Et Sante Animales, Archer Daniels Midland Company, and DLG Group.
Global Feed Premix Market: Trends and Opportunities
As large number of livestock is lost due to various diseases and flu such as avian flu, due to which high importance given to health and hygiene of livestock is expected to create new growth opportunities in the global feed premix market. Thus, to ensure healthy growth of swine, poultry, cattle, one needs to ensure proper supply of feed provided to them that has mineral and vitamins percentage. Moreover, growing demand for chemical-residue-free and environmentally safe meat products, meat, milk, milk products is also projected to drive demand in the global feed premix market.
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Growing Preference for Meat to Fuel Demand in Asia Pacific Feed Premix Market
Geographically, North America is held dominant share in the global feed premix market. However, the feed premix market share holding is likely to change in the coming years. Europe is also expected to show marginal rise in this market, as antibiotics used as growth promoting substance are banned in Europe.
Asia Pacific might overtake North America and hold maximum share in the global feed premix market. India, China, an Indonesia are major markets that will expand growth in the global feed premix market. Growing focus on animal health and wellness, several countries are making efforts in using advanced supplements. Moreover, increasing income level due to economic development and growing preference for meat consumption augmented demand in Asia Pacific feed premix market.
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The world has undergone a major shift in the way of living since the COVID-19 pandemic struck. A notable change in the functioning of various businesses and sectors has influenced their working mechanisms extensively. The food and beverage sector is no stranger to this change. Transparency Market Research (TMR) has studied many aspects concerning the difference between the trends in the pre-pandemic and post-pandemic world across the food and beverage industry.
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