Pet Premixes Market Forecast and CAGR
A recent study conducted by FACT.MR projected pet premixes to grow with a CAGR of 5.4 in the forecasted period, as pet premixes are used by about 80% of the pet food industry in the manufacture of full and healthy pet food items. A pet premix is a combination of micronutrients that are applied to pet food in "micro" quantities like vitamins, minerals, antibiotics, fermentation products, chemical preservatives and other ingredients
Through combining these ingredients in a premix, the weighing process is simplified, and the mixing and distribution of these micronutrients in the body is improved in a meal
The industry would benefit from increased emphasis on pet’s health as pets are being treated as family members, as well as increased use of advanced technology to improve feed premix.
Increasing Humanization in Pet Foods Driving the Pet Premixes Market
Pet foods are also becoming more humanized, as they closely follow human food patterns such as clean labels, transparency, sustainability, and practical health benefits.
Another feature of today's pet food industry is premiumization. As pet owners are willing to spend more on expensive pet foods, treats, and supplements because they want the best and most healthy diet for their pets. Fresher formats or fortification with usable ingredients are examples of this which is driving the pet premix market.
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Functional Pet Snacks a New Trend Providing an Opportunity for the Manufacturers Operating in Pet Premix Market
Pet snacks are becoming increasingly popular. Although pet snacks have been following in the footsteps of pet food in terms of humanization, with natural ingredients becoming increasingly necessary, a clean label claim is no longer sufficient. Even treats are expected to offer something extra by pet owners.
Furthermore, Manufacturers may transform any existing pet snack product into a functional pet snack by merely adding some custom nutrient pet premix. Vitamins, amino acids, minerals, coenzyme, glucosamine, and even probiotics can all be used in a custom vitamin premix for your pet. Until being mixed into a personalized nutrient pet premix, the most susceptible nutrients can be microencapsulated, allowing them to survive even high-toxin environments.
Increasing demand by pet food and animal feed manufacturers are creating a huge opportunity for the pet premix market due to which manufactures are expanding their business.
For instance- in 2018 DSM, a leading company that specializes in the fields of medicine, nutrition, and materials, opened its second animal nutrition and health premix plant in India in October 2018.
US and Canada Demand Outlook for Pet Premixes Market
North America has the highest pet population, and the pet population in both US and Canada is rising at a very good rate, people in the region treat pets as their family member and are always in search of the best food enriched with nutrients for their pets.
Furthermore, the demand for pet premixes is growing as people in the area become more conscious of their pet’s health. Additionally, producers in these regions use advanced processing technology, which aids in the production of pet premix.
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Europe Pet Premixes Market outlook
Europe is projected to be a huge opportunity for pet premix, which is unsurprising given that the pet population increasing in the region.
Furthermore, Pet food manufacturers in the region are eager to meet the demand for organic goods, particularly because the majority of pet owners are Millennials, a generation known for its environmental consciousness. Although attempts to make pet food more sustainable could concentrate on processes or ingredients, the packaging is currently at the forefront.
Pet premixes market: key players
Some key manufacturers operating the business in the pet premixes market globally includes
- AB Agri Ltd.
- Nutreco N.V.
- Koninklijke DSM N.V Archer Daniels Midland Company
- InVivo Nutrition Et Sante Animales
- DLG Group.
Many major manufacturers of pet premix are focusing on developed and emerging markets like India, China, and Mexico as pet preference and pet population are increasing. Moreover, pet premix expected to have a lot of scope in the developing Asian and Latin American markets.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
An Adaptive Approach to Modern-day Research Needs
Pet premixes Market Report Highlights:
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Pet Premix: Market Segmentation
Based on Ingredient, the global pet premixes market can be segmented as:
- Amino acids
- Other ingredient types (Fibers, nucleotides, preservatives, organic acids, enzymes, pigments, and flavors)
Based on form, the global pet premixes market can be segmented as:
Based on pet type, the global pet premixes market can be segmented as:
Based on the region, the global pet premixes market can be segmented as:
- North America
- U.S. and Canada
- Latin America
- Mexico, Brazil, Peru, Chile, and others
- Western Europe
- Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg
- Eastern Europe
- Poland and Russia
- Asia Pacific
- China, India, Japan, ASEAN, Australia, and New Zealand
- The Middle East and Africa
- GCC, Southern Africa, and North Africa
- North America
NOTE - Although care has been taken to maintain the highest levels of accuracy in Fact.MR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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