Jul 7, 2020 5:18 PM ET
iCrowd Newswire – Jul 7, 2020
Global COVID-19 Impact on Feed Premixes Market is expected to exhibit a solid 3.55% CAGR over the forecast period from 2020 to 2023, according to the latest research report from Market Research Future (MRFR). The global feed premixes market is expected to reach a valuation of USD 12.3 billion by 2023. The global feed premixes market is profiled in great detail in the research report, providing readers with a comprehensive overview of the market through its historical growth trajectory, present conditions, and future growth prospects. The historical stats of the feed premixes market are detailed in the report, in order to provide readers with a complete overview of the market’s historical growth trajectory. The historical stats provided in the report also give analysts a solid platform to base future projections about the market. Based on this platform, future projections for the feed premixes market’s growth trajectory over the forecast period are provided in the report. The leading players in the global feed premixes market are also profiled in the report in order to give readers a comprehensive analysis of the leading players in the global feed premixes market. The major drivers and restraints affecting the global feed premixes market are also profiled in the report to provide readers a comprehensive overview of what’s making the market tick and what is holding the market back.
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Feed premixes are premixed mixtures of vitamins, minerals, lipids, medications, and feed supplements. They help improve the quality of the animal feed being provided to the animals and can play a vital role in avoiding diseases to the animals. The global feed premixes market is mainly driven by the growing demand for animal feed from the growing animal products industry. The quality of animal products such as eggs, meat, and wool is highly dependent on the quality of the animal feed provided to the animals, leading to increasing importance being attached to products such as feed premixes. The growing awareness among farmers about the importance of animal feed is likely to be a major driver for the global feed premixes market over the forecast period.
Leading players in the Global COVID-19 Impact on Feed Premixes Market include AB Agri Ltd., Phibro Animal Health Corporation, Dansk Landbrugs Grovvareselskab a.m.b.a., ForFarmers NV, Land O’Lakes Inc., Koninklijke De Heus BV, Koninklijke DSM NV, Nutreco NV, Archer Daniels Midland Company, and Cargill Inc. Major players in the feed premixes market are majorly engaged in product diversification efforts in order to fill all niches in the animal feed market.
Global Feed Premixes Market is segmented on the basis of ingredient type, livestock type, and region.
By ingredient type, the Global Feed Premixes Market is segmented into vitamins, minerals, amino acids, lipids, and others. The vitamins segment dominates the global feed premixes market and is likely to dominate the market over the forecast period due to the growing demand for vitamins in feed premixes. Vitamins are vital in ensuring the absence of diseases and healthy growth in livestock animals. Vitamins play a key role in ensuring steady health of farm animals, leading to a growing demand for vitamins in feed premixes. The vitamins segment is expected to reach a valuation of USD 4.3 billion by 2023, according to MRFR. Minerals also hold a key share in the global feed premixes market and are likely to remain important for the global feed premixes market over the forecast period. On the other hand, the lipids segment is expected to exhibit the fastest growth over the forecast period, exhibiting a robust 4.10% CAGR over the forecast period. Lipids are not only a highly energy-dense additive, but also enhance the palatability of the animal feed.
By livestock type, the global feed premixes market is segmented into poultry, ruminants, swine, aquaculture, and others.
Asia Pacific accounted for the largest share in the global feed premixes market in 2020, accounting for 35.19% of the market. The regional market is expected to exhibit a strong 3.78% CAGR over the forecast period, retaining its lead in the global market. Europe, dominated by Germany and France, is the second largest regional market in the global feed premixes market.
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