The North American feed premix market was valued at USD 29.76 billion in 2023 and is anticipated to reach at USD 30.47 billion in 2024 from USD 36.84 billion by 2032, growing at a CAGR of 2.40% during the forecast period from 2024 to 2032.
Feed premix is synthesized chemically and microbiologically to increase the nutritious value of feeds to improve their effect on farm animals. They help improve the appetite, digestion, and feed intake of animals. Feed premixes offer unique nutritional benefits that allow producers to maximize their profitability.
The major growth driver in the North American market is the strong demand for high-quality meat from the meat processing industry. Increased demand for cost-effective and high-quality feed and a shift in consumption from red meat to white meat are also driving the market for feed premixes in North America. Lack of flexibility in diet formulation and lack of knowledge about the quality of the supplemental ingredients to be used in feed premix are some of the constraints on the feed premix market growth.
In type, Vitamins are the most widely used premix. The demand for feed premixes in the poultry industry accounted for the largest share and is projected to be the fastest-growing segment.
North America is one of the major markets for feed additives in the world, with a share of 34%. The U.S. is the major market for the feed premix industry within North America. The U.S. market is focused on innovating cost-effective production processes. Poultry is the largest consumer of feed premixes in North America. In North America, companies are committed to research, sourcing, quality, and education in providing nutritional technologies that are central to the success of customers.
Cargill, Koninklijke DSM N.V, Nutreco N.V, Archer Daniels Midland Company, InVivo Nutrition et Sante Animales. Existing companies such as DSM and Nutreco have been actively involved in the acquisition of regional suppliers and ingredient manufacturers in these regions to strengthen their market presence.
Frequently Asked Questions
The current size of the North American feed premix market is expected to be valued at USD 29.76 Billion in 2023
Poultry and swine are the major contributors to the growth of the Feed Premix market in North America.
North America is one of the major markets for feed additives in the world, with a share of 34%.
The Canadian market shows growth opportunities through the development of fortified and functional premix solutions to specific nutritional needs.
Collaborations and partnerships in the United States foster innovation, research, and development of advanced Feed Premix market solutions.
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