North America is the major producer and consumer of feed premixes. The region accounts for around 30% of the global feed premix market and is forecasted to grow at the CAGR of 3.1%. U.S. is the largest and the fastest growing market accounting for more than 50% of the North American market.The U.S. market is expected to grow with a healthy CAGR during the forecast period and is expected to reach $925.1 billion by 2020. The major growth driver in the market is strong demand for high quality meat from meat processing industry. The U.S. market is focussed on innovating cost effective production process. The increased compound feed consumption in Mexico is expected to increase the premixes consumption in the region during the forecast period.
Poultry is the largest consumer of feed premixes in North America. Cattle and pork is the fastest growing segment due to the increased consumption in recent time. Growth in fish feed industry is also expected to drive the growth of the market. The major players in the market are focussed on increasing the production capacity in local market and entering into the untapped market of Asian countries.