GCC Feed Premix Market
The GCC Feed premix market was estimated at USD 21.7 million in 2015 and is estimated to reach a value USD 26.7 million by 2020 with a CAGR of 4.3%. Feed Premix is a uniform mixture of one or more micro-ingredients such as vitamins, minerals, amino acids with diluent and/or carrier. Premixes are used to facilitate uniform dispersion of micro-ingredients in a larger mix. The manufacturers supply premixes to assure regular uniform supply of nutrients to the animals, enhance the quality of feed and productivity of the animals.
The end consumers of feed premix are compound feed manufacturers, integrators, farmers, home-mixers, livestock and aquaculture industry. Scientific evidence may help the feed premix sector gain considerable market share in the future. This would be possible by increasing the investments in R&D and cost management, coupled with information flow for nutrient requirements of animals. Adoption rate of farmers & meat producers, pricing and availability of raw materials have brought about changes in the feed premix market in terms of formulations, usage and production priorities.
The GCC countries depend heavily on the imports for Feed ingredients, livestock and also meat, the reasons being arid land conditions and water scarcity. The changing demographic structures, rising income levels, awareness on the quality of meat and dairy products being consumed is largely driving the Feed Premix market and each of these variables are analysed. The importance and emerging opportunities of adopting local production system is also seen. The role of Government in encouraging these feeds which help in the wellbeing of the citizens is also driving the feed premix market in the GCC countries.
The market is segmented by ingredients into Vitamins, Antibiotics, Antioxidants, Minerals and Others. Vitamins and Antioxidants have the highest market among all the ingredients and Minerals has a high estimated growth rate. By animal type, the feed premix market is segmented into Poultry, Ruminant, Fish and Others. While Poultry accounted for the highest share followed by Ruminants. Among the regions UAE, KSA, Oman, Bahrain, Kuwait and Qatar, KSA has the highest market share.
The major players in the GCC countries are ARASCO, Trouw nutrition, IFFCO, AL Ghurair etc which have a relatively major share in the market. Several strategies like expansion, acquisition, mergers are being adopted by these players in order to increase their market share. Setting up own production facilities in these regions provides a huge opportunity for growth of the feed premix market in the GCC.