Market Trends of North America Feed Premix Industry
This section covers the major market trends shaping the North America Feed Premix Market according to our research experts:
Rising Feed production Drives the Market
The feed premix market in the country is highly organized with production, usage, and marketing of compound feed and feed premix being carried out under regulation. The ban on antibiotics as growth promoters in animals has created an opportunity for feed premixes, such as enzymes and micro minerals which further enhances the productivity of livestock and the quality of meat. According to the Food and Agriculture Organization FAO, in 2016 cattle and buffaloes population in the united states was 91.9 million heads which increased to 94.2 million heads in 2018. According to the Alltech feed survey, in 2019 the feed production amounted to 214 million metric tons among which beef feed accounted for 61 million metric tons followed by broiler feed with 48.5 million metric tons in the United States. Thus the growing mass production of livestock and increased animal protein consumption created the necessity of inclusion of premix in the feed to increase productivity with enhanced quality.
Poultry Segment Dominates the Market
The consumption of poultry meat is the highest in the country. According to the National Chicken Council, in 2019, per capita consumption of chicken in the United States was more than 98 pounds compared to 89.8 pounds in 2016 and Also the production was over 9.2 billion broiler chickens in 2019. More than 42.1 billion pounds of the chicken product has been marketed, where chicken consumer spending in 2019 was USD 95 billion. According to the Food and Agriculture Organization, In 2018 poultry bird population was 2225.5 million heads in the United States, which was 2225 million heads in 2016. This trend is further projected to continue during the study period. Thus the increasing production, consumption, and expenditure on meat in the country will lead to the use of quality feed which in turn drives the feed premix market
