Asia-Pacific accounts for the largest market share in global feed premix market. The market is expected to grow at the fastest CAGR of 3.5% during the forecast period. Feed premix is a uniform mixture of one or more micro-ingredients such as vitamins, minerals, and amino acids with diluent and/or carrier.
Premixes are used to facilitate uniform dispersion of micro-ingredients in a larger mix. The end consumers of feed premix are compound feed manufacturers, integrators, farmers, home-mixers, livestock, and aquaculture industry. Adoption rate of farmers & meat producers, pricing and availability of raw materials have brought about changes in the feed premix market in terms of formulations, usage and production priorities.
Industrialization of livestock industry, growth in compound feed and feed additives and increasing awareness for safe meat are driving the feed premix market in the region. Rising cost of raw materials and unclear regulatory environment in many Asian countries, hinder the market growth to an extent in the region.
The market is explained in terms of animal types and ingredient types. Major ingredients used in feed premix manufacturing are- Antibiotics, Vitamins, Antioxidants, Amino Acids, Minerals etc.; vitamins comprise of largest market share. Poultry premixes accounts for around 40% of the total market share. Pork is the fastest growing in the region. Fish Feed is the potential market especially in China, India, and Thailand due to recent and continuous adoption of aquaculture in the region.
China is the largest market in Asia-Pacific due to the increased demand for meat protein and industrial production of meat. The focus of the meat manufacturers to increase export is exerting pressure on farmers to increase production capacity thereby driving the market for feed additives and premixes. Countries such as Thailand, Vietnam, and Malaysia are the potential markets in the region. The major reason for growth in these countries is adoption of intensive farming system.
Untapped market of Asia-Pacific region is the target of many key players. Both domestic and global players are focused on increasing the production capacity of premixes as well as conducting awareness campaign to generate demand. Innovations in production process to reduce the cost of production are another priority of the local manufacturers. Major players in the Asia-Pacific market are Charoen Pokphand (Thailand), Cargill Inc. (U.S.), Land O Lakes Feed (U.S.), DBN Group (China), Archer Daniels Midland (U.S.) etc.
Key Deliverables in the Study
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