Feed & Additive Magazine Issue 47 December 2024

MARKET REPORT FEED & ADDITIVE MAGAZINE December 2024 93 reduce mortality rates in animals more sensitive to nutritional deficiencies. Premixes also positively support reproductive performance, increasing fertility, conception rates, and offspring size. By providing a pre-mixed blend of micronutrients, premixes simplify feed formulation and reduce the need for adding multiple components. They can optimize nutrient utilization, improve feed efficiency, lower feed costs, and minimize environmental impact. For animals raised for meat, milk, or eggs, these mixtures positively affect quality factors such as meat tenderness, milk composition, and egg quality. In this way, they help producers achieve consistent product quality and meet consumer demands. As a result, feed premixes are indispensable components of animal nutrition, enabling livestock to achieve their full potential in terms of health, productivity, and reproductive success. Proper premix supplementation is a key factor in modern livestock management, contributing to sustainable and efficient livestock practices. FEED PREMIXES MARKET AND FORECASTS The global feed premixes market is experiencing significant growth due to increasing demand for animal protein, growing awareness about animal nutrition, and strict regulations regarding food safety and quality. According to a recent report published by Mordor Intelligence, the market size will be USD 12.67 billion in 2024. It forecasts that the market will exhibit a compound annual growth rate (CAGR) of 5.4% over the forecast period 20242029, with the total size reaching USD 16.47 billion in 2029. Many other reports also point to a promising future for the industry, albeit with wide variations in terms of value. For example, The Business Research Company forecasts the feed premix market will reach a size of USD 24.25 billion in 2024, projecting a CAGR of 10.9% from 2024 to 2028. In a similar forecast of the current market size, IMARC Group indicates that the global feed premix market will be worth USD 21.7 billion in 2024. The company expects the market to grow at a CAGR of 4.22% between 2025 and 2033, reaching USD 31.6 billion by 2033. According to Zion Market Research, the global feed premix market was valued at USD 17.22 billion in 2023, and will grow at a CAGR of 4.2% during the forecast period 2024-2032. Thus, the feed premixes market will reach a size of USD 24.93 billion by 2032. FACTORS DRIVING MARKET GROWTH The global feed premixes market is undergoing strong growth driven by a combination of factors shaping the future of animal nutrition. The key drivers of this growth are as follows: • Increasing Demand for Animal Protein The continuously growing global population necessitates a parallel increase in food production, particularly for animal protein. Urbanization of the population and their preference for protein-rich di-

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