Global Ruminant Feed Premix Market - Growth, Trends and Forecast (2020 - 2025)
発行: Mordor Intelligence Pvt Ltd
ページ情報: 英文 120 Pages
The global ruminant feed premix market is projected to record a CAGR of 3.7% during the forecast period (2020 - 2025). Growth is particularly high in emerging countries, such as China, India, and Brazil because of the increasing income levels and rising per capita meat consumption. Some major drivers of the premix feed industry are rise in the global meat consumption, increasing awareness toward meat quality and safety, increasing mass production of meat, and recent livestock disease outbreaks.
Increased Awareness regarding Safety of Meat and Milk Products
Food safety has become a paramount issue for many governments around the world, especially in North America and Europe. Consumers are currently more aware and they give importance to the external, as well as nutritional quality attributes of the meat they consume. The animals often stand in their own waste and are under constant stress that affects their immune system, thus, making them prone to infection. In such situations, farmers opt for feed premixes to reduce the spread of diseases. Use of feed premix with enzymes and vitamins provides balanced nutrition to animals and protects them against harmful environmental influences.
Increasing Feed Premix Consumption in the United States
The United States is the leading consumer of feed premix in North America with a share of more than 30% of the North American ruminant feed premix market. The US feed additives market is highly organized, with production, usage, and marketing of compound feed and feed additives being carried out under regulation. The ban on antibiotics as growth promoters in animals has created an opportunity for feed additives, such as enzymes and acidifiers, further enhancing the quality of meat and productivity of livestock. Increasing production cost of raw materials is a major concern for manufacturers who are focusing on improving feed premix quality to enhance efficiency.
Companies like BASF, Cargill Inc., Danisco Animal Nutrition, Archer Daniels Midland Co. (ADM), and Nutreco, are some of the major players in the global ruminant feed premix market. These companies focus on expanding their businesses, especially in developing countries like India and Thailand. Moreover, they are increasing their investments in R&D activities for launching new products with better, latest, and new features.