GCC Feed Premixes Market

Description

The Feed Premix market in the Gulf Countries Cooperation has been approximated to be worth US$XX Million and is expected to grow to US$XX Million by 2022, at a CAGR of XX% during the forecast period. Although the macro nutrients market dominates the mineral feed additives market, feed premix market, which consists of a mixture of micronutrients and trace elements, has helped the micro nutrients segment to show a noticeable growth in recent years. Growing awareness about animal health, changing food habits and rising awareness about the side-effects of chemical additives in processed meat has helped the market to grow.

Market Dynamics:

Changing demographic structure, rising income levels and a growing awareness about the quality of meat consumed have been the fundamental reasons in the current status of the industry. Enhanced industrialization of the livestock industry, growth of the compound feed and feed additives industry and an overall growth in the consumption of meat have been the key factors in the development of feed premix market. Growing organization in the animal foods industry and recent findings in the field of animal nutrition have helped the feed premix market to grow recently. For maximum efficacy, the provision of supplements has to be done in a regulated manner. Increasing research is being done to find out the effect of various elements on growth and development of animals and the perfect combination of a premix of nutrients for optimum results.

Although countries some in the GCC, like Saudi Arabia have significant volumes of meat produced domestically, it is still not enough to meet the local demands and a large amount of meat has to be imported. Although many government initiatives have increased the production of domestic meats, the imported meat and meat products give tough competition, in terms of quality. This has promoted the research in the entire feed additives industry in the region.

Market Segmentation:

On the basis of ingredients, the market is broadly divided into Amino Acids, Antibiotics, Antioxidants, Vitamins, Minerals, etc. The Vitamins comprise of largest market share. On the basis of animal type, the market is divided into Pork, Cattle, Fish and Poultry feed. The Poultry feed premixes have the largest market share, followed by the Cattle feed and Fish segments.

Geographical Analysis:

Among the regions UAE, KSA, Oman, Bahrain, Kuwait and Qatar, the Kingdom of Saudi Arabia (KSA) has the highest market share, followed by Oman and Kuwait. Saudi Arabia leads in all the three prominent segments- Poultry, Cattle and Aquatic feed premixes, in terms of volume as well as revenue.

Key Players

Some of the key players in the industry include ARASCO, Trouw Nutrition, IFFCO, AL Ghurair, Abalioglu Group and the Arab Company for Livestock Development (ACOLID).