Market Trends of North America Swine Feed Premix Industry
This section covers the major market trends shaping the North America Swine Feed Premix Market according to our research experts:
Well Established Swine Production Industry Drives the Market
Swine meat is one of the majorly consumed meats in North America. The meat consumption demand has been continuously increasing for a decade. For instance, the per capita consumption of pork in Canada was 17.9 kg in 2017 increasing to 18.06 Kg in 2018. The huge consumption demand for pork caused a boost in swine production in the region. North American region produced 88 million pigs in 2018, which is 4 million more than the pig count in 2016. Therefore, large consumption demand coupled with increasing swine production is driving the swine feed premix market in the region.
The United States Dominates the Market
The United States holds more than half of the swine feed premix market share in North America. Pork production in the U.S. is estimated to generate a revenue of USD 23.4 billion per year, with 26% of pork and pork products produced exported to other countries. The country produced 74 million heads of pork in 2018, which is almost 90% of the total North American production. The large, growing swine production industry ensures the further growth of the swine feed premix market in the country.
