The Asia-Pacific Poultry Feed Premix Market was worth $530 million in 2016 and estimated to be growing at a CAGR of 3.80%, to reach $640 million by 2021.
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Premix is defined as a uniform mixture of one or more micro-ingredients with diluent and/or carrier, which are usually required in small amounts and are not intended for direct feeding to animals.
Poultry is the most widely consumed meat in the world and its production is more than any other meat category. Poultry Feed Premix has become an essential part of the globally increasing livestock industry and meat production industry.
Manufacturers supply premixes to ensure uniform supply of nutrients to the animals and to enhance the quality and productivity of the animal.
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The growth of the Asia-Pacific Poultry Feed Premix market is mainly driven by reasons such as the rise in the global meat consumption, rise in the mass production of meat, and swing in consumption pattern from red meat to white meat. Increasing population in this part of the world is also supporting the growth of the Asia-Pacific meat market, ultimately increasing demand for Poultry Feed Premix.
Volatile economies, and growing cost of operations are the major restrictive factors for the Asia-Pacific market.
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The Asia-Pacific Poultry Feed Premix market is segmented based on Ingredient type. On the basis of Ingredient type, the Poultry Feed Premix market is segmented into Minerals, Antibiotics, Vitamins, Amino Acids, and Other Ingredients.
Vitamins segment leads the Poultry Feed Premix market followed by the minerals segment. Vitamins and minerals have been gaining substantial growth, as they serve as a vital factor in enhancing the growth of the livestock and in the growth of the immune system.
Reputation of trace minerals such as zinc, manganese, iodine, and selenium for its functional benefits lead to the strong growth of this segment along with vitamins.
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The Asia-Pacific region is geographically segmented into China, India, Japan, South Korea, and Australia. This region offers substantial opportunities for the Poultry Feed Premix market, with China and India being the most populous countries in this region contributing to the increasing demand.
China is the major Poultry Feed Premix manufacturer in the world and accounts for around half the production of Poultry Feed Premix in Asia-Pacific region.
Some of the major companies dominating the market in this region are Cargill, Koninklijke DSM N.V., Nutreco N.V., Archer Daniels Midland Company, and InVivo Nutrition et Sante Animales.
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