At 5.0% CAGR, Asia Pacific Feed Premix Market is Projected to be Worth US$ 6,590.74 Million by 2030, Says Business Market Insights

According to Business Market Insights' research, the Asia Pacific feed premix market was valued at US$ 4,448.96 million in 2022 and is expected to reach US$ 6,590.74 million by 2030, registering a CAGR of 5.0% from 2022 to 2030. Rising preference for organic feed and growing demand for feed premix from developing countries are among the critical factors attributed to the Asia Pacific feed premix market expansion.

People are becoming more conscious about their health; thus, they prefer consuming organic food as it does not contain pesticides. Organic milk and meat are richer in nutrients such as enzymes, bioflavonoids, and antioxidants. Hence, people prefer organic food and organic meat over the conventional food. This has led to the demand for organic feed to supply organic meat to consumers. Livestock farms, the poultry sector, and animal husbandry have focused on purchasing high-quality organic feed due to the growing demand for organic meat and dairy products.

Conventional feed often contains high amounts of chemicals that hamper meat quality when consumed by animals. Long-term consumption of such meat results in various health disorders. To overcome this issue, manufacturers are developing organic feed that contains no chemical additives. Animals feeding on such feed offer meat that has high nutritional value. Thus, consumers often find organic and natural products as healthier alternatives to conventional products. Consumers are mainly inclined toward organic products, which has encouraged manufacturers to invest heavily in products produced with organic constituents. Furthermore, the better accessibility to infinite information with the help of the internet has made consumers highly aware of their health needs, leading to the increasing demand for organic feed. Thus, the rising preference for organic feed is expected to become a significant trend in the Asia Pacific feed premix market during the forecast period.

On the contrary, bans on antibiotics as feed additives hampers the growth of Asia Pacific feed premix market.

Based on type, the Asia Pacific feed premix market is segmented into vitamins, minerals, amino acids, antibiotics, antioxidants, blends, and others. The blends segment held 35.5% share of the Asia Pacific feed premix market in 2022, amassing US$ 1,579.82 million. It is projected to garner US$ 2,380.64 million by 2030 to expand at 5.3% CAGR during 2022-2030.

By form, the Asia Pacific feed premix market is bifurcated into dry and liquid. The dry segment held 67.6% share of the Asia Pacific feed premix market in 2022, amassing US$ 3,007.52 million. It is projected to garner US$ 4,500.76 million by 2030 to expand at 5.2% CAGR during 2022-2030.

By livestock, the Asia Pacific feed premix market is segmented into poultry, ruminants, swine, aquaculture, and others. The poultry segment held 41.8% share of the Asia Pacific feed premix market in 2022, amassing US$ 1,857.64 million. It is projected to garner US$ 2,839.86 million by 2030 to expand at 5.4% CAGR during 2022-2030.

Based on country, the Asia Pacific feed premix market is segmented into China, Japan, India, Australia, South Korea, Philippines, Taiwan, Pakistan, Bangladesh, Kazakhstan, and the Rest of Asia Pacific. China held 37.5% share of Asia Pacific feed premix market in 2022, amassing US$ 1,667.47 million. It is projected to garner US$ 2,350.92 million by 2030 to expand at 4.4% CAGR during 2022-2030.

Key players operating in the Asia Pacific feed premix market are Agrifirm Group BV, Archer-Daniels-Midland Co, Cargill Inc, De Heus Voeders BV, Kemin Industries Inc, Koninklijke DSM NV, and Nutreco NV, among others.

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