Market Overview:

The Poultry Feed Premix Market was valued at USD 2.09 million in 2019 and is expected to garner a CAGR of 3.20% to reach USD 2.45 million by 2024. Poultry is one of the most broadly consumed foods in the world. The global production of poultry is more than any other meat kind. The shift in consumption pattern from red meat to white meat, particularly in developed countries, has further resulted in an elevated demand for poultry meat. The rise in consumption of processed poultry will need a continuous supply of high-quality meat.

Market drivers and restraints:

There are high competition and fragmentation in the world feed premix market. The poultry and ruminant segment is estimated to lead the feed premix market when compared to other livestock segments, owing to higher consumption of poultry and ruminants by humans. The elevated use of feed premix in turkey is one of the crucial factors that will supplement the feed premix market. The industrialization of meat and dairy market is promoting demand for feed premix. This will give rise to several innovative products in the market, which is estimated to drive the growth of the poultry feed premix market during the forecast period.

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Report segmented as:

By type:

Minerals
Antibiotics
Vitamins
Amino acids
others
Geographical analysis:

North America accounts for the biggest market share and is estimated to grow steadily. Asia-Pacific, which is the biggest producer of compound feed, is forecasted to grow at the quickest CAGR of 3.6% over the forecast period. Asia-Pacific and South America are the potential markets owing to lenient feed related regulations.

Important market players:

Some of the major players analyzed are Koninklijke DSM N.V., The Archer Daniels Midland Company, Purina Animal Nutrition LLC, Alltech, Inc., Nutreco N.V., Kemin Industries, Novus International, Inc., Zinpro Corporation, Lexington Enterprises Pte. Ltd., Avícola de Tarragona S.A., Neovia SARL, Masterfeeds L.P., Royal Agrifirm Group, Dakahlia Group, LOTUS MINECHEM RESOURCES PVT. LTD., Titan Pharma (India) Pvt Ltd., and Shenzhen Jinxinnong Technology Co., Ltd., among other feed premix manufacturers.

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The Scope of the report:

This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.

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