At 4.1% CAGR, Europe Feed Premix Market is Projected to be Worth US$ 3,502.29 Million by 2030, Says Business Market Insights

According to Business Market Insights' research, the Europe feed premix market was valued at US$ 2,534.22 million in 2022 and is expected to reach US$ 3,502.29 million by 2030, registering a CAGR of 4.1% from 2022 to 2030. Feed fortification and increase in livestock production are among the critical factors attributed to the Europe feed premix market expansion.

The feed fortification with premixes is linked to an improvement in animal health and welfare. Animal feed are fortified with vitamins, minerals, amino acids, antioxidants, antibiotics, etc. The high prevalence of micronutrient deficiency diseases among livestock boosts the demand for fortified feed which results to increase in adoption of premixes. Feed fortification helps increase the strength of bone and decrease the mortality of animals. Feed fortified with minerals is beneficial in treating bone fractures in livestock. Feed fortified with amino acids helps grow performance and increase the immunity of livestock. The addition of amino acids boosts metabolism and makes the feed highly nutritious. Moreover, the feed conversion rate is significantly increased by fortification, which is helpful in the optimization of production costs. Additionally, antibiotics, acidifiers, antioxidants, vitamins, minerals, amino acids, binders, and enzymes are a few of the most popular types of premixes used for feed fortification. The growing demand for these premixes due to the health benefits associated with each premix drives the Europe feed premix market. Moreover, owing to the rising awareness about feed fortification, key market players are adopting strategies for fortification. For instance, in November 2022, DSM revised Optimum Vitamin Nutrition (OVN) guidelines for vitamin fortification among all animal species to achieve peak health and performance of livestock.

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

Based on type, the Europe feed premix market is segmented into vitamins, minerals, amino acids, antibiotics, antioxidants, blends, and others. The blends segment held 32.3% share of the Europe feed premix market in 2022, amassing US$ 818.99 million. It is projected to garner US$ 1,155.61 million by 2030 to expand at 4.4% CAGR during 2022-2030.

By form, the Europe feed premix market is bifurcated into dry and liquid. The dry segment held 61.3% share of the Europe feed premix market in 2022, amassing US$ 1,552.75 million. It is projected to garner US$ 2,179.22 million by 2030 to expand at 4.3% CAGR during 2022-2030.

By livestock, the Europe feed premix market is segmented into poultry, ruminants, swine, aquaculture, and others. The poultry segment held 48.6% share of the Europe feed premix market in 2022, amassing US$ 1,231.45 million. It is projected to garner US$ 1,745.42 million by 2030 to expand at 4.5% CAGR during 2022-2030.

Based on country, the Europe feed premix market is segmented into Germany, France, Italy, the UK, Spain, and the Rest of Europe. The Rest of Europe held 42.5% share of Europe feed premix market in 2022, amassing US$ 1,076.03 million. It is projected to garner US$ 1,416.68 million by 2030 to expand at 3.5% CAGR during 2022-2030.

Key players operating in the Europe feed premix market are Agrifirm Group BV, Archer-Daniels-Midland Co, Cargill Inc, Danish Agro AMBA, Dansk Landbrugs Grovvareselskab amba, De Heus Voeders BV, Kemin Industries Inc, Koninklijke DSM NV, NuSana BV, and Nutreco NV, among others.

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