GLOBAL FEED PREMIX MARKET 2014 - 2020 Market Shares, Forecasts & Trends
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TABLE OF CONTENTS 1 INTRODUCTION ............................................................................................................................................1 1.1
METHODOLOGY ..........................................................................................................................1
1.2
DEFINITION OF THE MARKET ....................................................................................................2
2 EXECUTIVE SUMMARY ................................................................................................................................4 3. MARKET OVERVIEW....................................................................................................................................6 3.1 COMPOUND FEED INDUSTRY TREND ...................................................................................................6 3.2 LIVESTOCK INDUSTRY TREND .............................................................................................................7 3.3 MEAT INDUSTRY TREND ......................................................................................................................8 3.3.1 BOVINE MEAT ................................................................................................................................8 3.3.2 PIG MEAT .......................................................................................................................................8 3.3.3 POULTRY MEAT .............................................................................................................................9 3.4 THRESHOLD MATTER OF THE INDUSTRY ............................................................................................9 3.4.1 USE OF ANTIBIOTICS .....................................................................................................................9 3.5 FACTORS AFFECTING THE MARKET ................................................................................................. 10 3.5.1.DRIVERS ..................................................................................................................................... 10 3.5.2. RESTRAINTS...............................................................................................................................14 3.5.3 OPPORTUNITIES ..........................................................................................................................16 3.6 PORTERS ANALYSIS...........................................................................................................................17 3.6.1 BARGAINING POWER OF BUYERS...............................................................................................17 3.6.2 BARGAINING POWER OF SUPPLIERS .........................................................................................17 3.6.3 DEGREE OF COMPETITION ..........................................................................................................18 3.6.4 THREAT OF NEW ENTRANTS ......................................................................................................18 3.6.5 THREAT OF SUBSTITUTES ..........................................................................................................19
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3.7 GLOBAL REGULATORY ENVIRONMENT-IMPACT ANALYSIS ..............................................................19 3.7.1 NORTH AMERICA .........................................................................................................................19 3.7.2 EUROPE ...................................................................................................................................... 20 3.7.3 ASIA .............................................................................................................................................21 4. FEED PREMIX MARKET, BY INGREDIENTS ...............................................................................................22 4.1 INTRODUCTION ...................................................................................................................................22 4.2 ANTIBIOTICS .......................................................................................................................................25 4.3 VITAMINS............................................................................................................................................27 4.4 ANTIOXIDANTS ...................................................................................................................................28 4.5 AMINO ACIDS ..................................................................................................................................... 30 4.6 MINERALS...........................................................................................................................................31 4.7 OTHERS ..............................................................................................................................................33 5. FEED PREMIX MARKET, BY ANIMAL TYPE ...............................................................................................35 5.1 INTRODUCTION ...................................................................................................................................35 5.2 RUMINANT ..........................................................................................................................................37 5.3 POULTRY ............................................................................................................................................38 5.4 SWINE ................................................................................................................................................ 40 5.5 AQUACULTURE ...................................................................................................................................42 5.6 OTHERS ..............................................................................................................................................43 6. FEED PREMIX MARKET, BY GEOGRAPHY.................................................................................................46 6.1 INTRODUCTION ...................................................................................................................................46 6.2 NORTH AMERICA ................................................................................................................................48 6.2.1 U.S. ..............................................................................................................................................49 6.2.2 CANADA .......................................................................................................................................51 6.2.3 MEXICO ........................................................................................................................................54 6.2.4 OTHERS .......................................................................................................................................56
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6.3 EUROPE...............................................................................................................................................58 6.3.1 SPAIN ......................................................................................................................................... 60 6.3.2 U.K. ..............................................................................................................................................62 6.3.3 FRANCE .......................................................................................................................................65 6.3.4 GERMANY ....................................................................................................................................67 6.3.5 RUSSIA ....................................................................................................................................... 70 6.3.6 ITALY ...........................................................................................................................................72 6.3.7 OTHERS .......................................................................................................................................74 6.4 ASIA-PACIFIC ......................................................................................................................................76 6.4.1 CHINA ..........................................................................................................................................78 6.4.2 INDIA........................................................................................................................................... 80 6.4.3 JAPAN .........................................................................................................................................83 6.4.4 THAILAND ....................................................................................................................................85 6.4.5 VIETNAM......................................................................................................................................87 6.4.6 AUSTRALIA ..................................................................................................................................89 6.4.7 OTHERS .......................................................................................................................................92 6.5 SOUTH AMERICA ................................................................................................................................94 6.5.1 BRAZIL .........................................................................................................................................95 6.5.2 ARGENTINA .................................................................................................................................98 6.5.3 OTHERS .................................................................................................................................... 100 6.6 AFRICA ............................................................................................................................................. 102 6.7 SOUTH AFRICA ................................................................................................................................ 104 6.7.1 EGYPT ....................................................................................................................................... 106 6.7.2 OTHERS .................................................................................................................................... 108 7. COMPETITIVE LANDSCAPE .................................................................................................................... 112 7.1 INTRODUCTION ................................................................................................................................ 112
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7.2 MOST ACTIVE 5 COMPANIES BY MARKET STRATEGIES ................................................................ 114 7.3 FEED PREMIX MARKET SHARE ANALYSIS - 2013 .......................................................................... 115 8 COMPANY PROFILES .............................................................................................................................. 116 8.1 Godrej Agrovet ................................................................................................................................. 116 8.2 Land O Lakes Feed ........................................................................................................................... 117 8.3 DBN Group ....................................................................................................................................... 119 8.4 ForFarmers B.V. ............................................................................................................................... 122 8.5 DLG Group........................................................................................................................................ 123 8.6 DSM NV (The Netherlands) .............................................................................................................. 128 8.7 Nippai............................................................................................................................................... 135 8.8 De Heus............................................................................................................................................ 136 8.9 Lallemand Animal Nutrition ............................................................................................................. 138 8.10 Biomin ............................................................................................................................................ 140 8.11 InVivo NSA ..................................................................................................................................... 142 8.12 BEC Feed Solutions ....................................................................................................................... 144 8.13 Nutreco NV .................................................................................................................................... 146 8.14 Cargill Inc. ...................................................................................................................................... 152 8.15 Archer Daniels Midland .................................................................................................................. 155 8.16 Charoen Pokphand ........................................................................................................................ 158 8.17 Continental Grain Company ........................................................................................................... 161 8.18 Kent Feeds ..................................................................................................................................... 162 9. DISCLAIMER ........................................................................................................................................... 165
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3. MARKET OVERVIEW 3.3 MEAT INDUSTRY TREND Despite high meat prices, prospects for growth of meat and milk products slowed down due to high feed costs and market uncertainty as a result of volatility in agriculture market. In 2012, high feed cost and weak consumption reduced the profits of meat producers. As a result producers who planned for year of expansion have been scrambling to rebalance livestock supplies. Against this backdrop, global meat output is expected to grow by 1.5% in 2014, to 312.1 million tonnes. The expansion of the industry is anticipated to be slowing down in the developing countries, as more industrialized operations in the developed countries have reduced spending in response to escalating costs and lacklustre consumption prospects.
3.3.1 BOVINE MEAT Low cattle numbers in developed countries, high feed prices and reduced industry proďŹ tability are leading to stagnating global beef production. The downsizing of the US herd, initiated in 2008, has pushed cattle numbers to a 60 year low. Similarly, lingering drought problems are depressing slaughter weights and output in the Russian Federation, Ukraine and Mexico. Lower government support to beef sector and increasing demand for milk products resulting in less supply of dairy animals for slaughter has resulted in less beef output in EU. New Zealand and Australia are expected to witness a modest growth rate due to favourable weather, excellent pasture and abundant forages. The number of cattle and slaughter has been rising since the past five years in South America particularly in Argentina, Brazil, Paraguay and Uruguay. Due to the increased processing operations the production of beef has increased in India and Vietnam. Beef production is estimated to slow down in China in next five years due to labor shortages and high production costs.
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3.5 FACTORS AFFECTING THE MARKET 3.5.1. DRIVERS The global feed premix market is driven mainly due to increasing consumption of compound feed and feed additives across the globe. Growth in the industrial production of livestock and processed meat industry are driving the demand for feed premixes. Other factors responsible for growth in the market are population growth and increase in the income of middle class population in developing countries. The flexibility to choose from numerous raw materials is also triggering the growth of the industry.
3.5.1.1 GROWTH IN COMPOUND FEED & ADDITIVES INDUSTRY The global compound feed market revenue is estimated to grow at a CAGR of 1.5% from 2014 to 2020. The industry is driven by factors such as increasing meat consumption across the globe and growth in the processed meat industry due to increase in the income of middle class population in developing countries. Demand for high quality compound feed from livestock industry due to increased industrial production of meat and dairy products has elicited the growth in consumption of the compound feed and feed additives. The raw materials used for compound feed production such as maize, barley, soybean are used for human consumption and production of ethanol. In this scenario the feed industry competes with the food industry for raw materials. This condition has generated the demand for additives which are cost effective and enhances production. The home mixers and large farm owners provide additives and their premixes to the livestock to ensure steady supply of high quality meat, dairy and derived products. The large scale producers and meat manufacturers use the additive premixes to ensure steady supply of nutrients to the animals, enhance production and performance. The global animal feed additives industry is expected to grow at the CAGR of around 4% during 2014-2020. Thus the rise in demand for feed additive is driving the market for feed premixes.
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3.5.2. RESTRAINTS The main obstacle in the growth of feed premix market is the rising cost of important raw materials. Another restraint is the regulatory structure of the animal feeds industry which restricts the use of certain materials such as antibiotics which will enhance the productivity.
Impact of major restraints on global feed premix market Driver
1 – 2 years
3 – 4 years
5 – 6 years
Rising cost of raw materials
High
High
Medium
Government regulations
High
Medium
Medium
Source: Primary Interviews, Mordor Intelligence Analysis
3.5.2.1 Rising cost of raw materials Availability of feed has become a critical issue for the industry. With the growing global population and corresponding rise in the food shortage, the industry is facing severe pressure in procuring raw feed such as maize, wheat, barley, etc. Feed acids, antioxidants, and vitamins are mainly extracted from natural sources such as seeds, tree barks, and plant leaves. The rising cost of extraction from these sources coupled with stringent regulations for waste bio-materials and waste water treatment have had a limiting effect on the feed additives and feed premix market.
Locally grown and easily available plant sources such as maize, wheat, barley, soybean, etc. are used as major sources of additives. These ingredients are used widely for human consumption as well as to produce feeds. In the last 50 years, global population has grown at an alarming rate whereas the production of agriculture has been declining gradually. Increased demand and steady supply along with unpredictable weather has led to rise in the prices of secondary raw materials.
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The major concern for feed industry is severe pressure in procuring raw feed such as maize, wheat, barley, etc and the rising prices of these major ingredients. Thus, the rising prices of feed raw materials can adversely affect market growth, especially in the large, price sensitive Asian and Latin American markets. With the economic recovery, demand for maize and wheat in different industries such as biofuel production, human food, and animal feed is going to increase. Prices are expected to soar due to an increasing demand and will adversely affect the feed additives and premix market.
3.5.2.2 Regulatory Structure Regulatory issues are the biggest constraints in the compound feed industry. Animal feed production comes under feedstuff regulations in most countries. Regulatory framework is increasingly getting stringent, such as in the year 2006 in EU and in 2009 in U.S., which banned the use of antibiotics as growth promoters in animals. Europe had imposed a ban on the use of animal proteins in aquafeed.
Many countries including China, Thailand, and Vietnam that export fish to Europe and U.S. do not have such regulations against antibiotics or animal proteins usage in animals or in feeds. Such disparities in regulations have adverse effects on the global fish and aquafeed trade especially between developed and developing economies. Producers of feed and feed additives are required to follow strict regulations related to regional and national health and safety for their products approval in the developed nations. This ultimately affects the cost of the final products. Such regulatory initiatives are posing challenges for existing feed products and increasing the cost of new feeds development.
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4. FEED PREMIX MARKET, BY INGREDIENTS 4.1 INTRODUCTION The global feed premix market is primarily dependent on the type of feed, the type of animal/livestock and the regulatory structure in the market. The industry is witnessing favourable market trends such as rising demand for high protein diets, especially in the developing economies of China and Brazil where per capita income is also rising rapidly. The demand for feed additives and feed premix is also rising because of increasing facilities for mass meat production.
Asia-Pacific and North America are the top two consumers of feed additives in the world, where AsiaPacific alone accounts for a 60% share of the global feed premix market. Asia-Pacific is the largest market for feed premix consumption and it holds a lot more potential due to the large untapped and unorganized livestock production sector, which still lacks awareness about the benefits of feed additive. Asia-Pacific market is showing the fastest CAGR of 3.2% due to increasing per capita meat consumption in the region and rising consumer awareness towards meat quality. North America is the second largest consumer of feed additives with 29% market share. Global Feed Premix market volume, by Ingredients, 2012 - 2020 ('000 Metric tons) Ingredient
2012
2013
2014
2020
CAGR% (2014-2020)
Antibiotics
XX
185.1
XX
XX
XX
Vitamins
1,526.1
XX
XX
XX
XX
Antioxidants
XX
XX
XX
689.2
XX
Amino Acids
XX
XX
575.2
XX
XX
Minerals
XX
XX
XX
XX
3.0
Others
XX
XX
XX
XX
XX
Total
XX
XX
XX
XX
XX
Source: All About Feed Magazine, The poultry site, The fish site, Primary Interviews, IFIF
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5. FEED PREMIX MARKET, BY ANIMAL TYPE 5.2 RUMINANT The continuously inflating raw materials cost has made feeding the ruminant a costly affair even for small farmers who feed the ruminant with farm mixes. It is estimated that feed cost for cows and buffalos is nearly 35% to 50% of the overall milk and meat produced. Thus farmers are looking for better alternatives to improve and maintain growth of the animal by providing important nutrients such as amino acids, minerals and vitamins. Ruminant livestock are the second largest consumers of feed premix in the world and the market will get support from the globally increasing cattle meat production and demand for high quality meat. More numbers of feed mills, compound feed manufacturers are switching to feed premixes as the source of additives as it ensures uniform supply of desired nutrients and enhanced feed productivity. Demand for feed premix in cattle meat production is expected to grow stronger in developing nations such Brazil, China, and Mexico due to increasing consumption of meat & milk products.
Ruminant: Feed Premix market Volume, by Region, 2012-2020 ('000 metric tons) Region
2012
2013
2014
2020
CAGR% (20142020)
North America
XX
277.0
XX
XX
XX
Europe
XX
XX
XX
310.6
XX
Asia-Pacific
360.6
XX
XX
XX
XX
South America
XX
XX
106.5
XX
XX
Africa
XX
XX
XX
XX
2.0
Total
XX
XX
XX
XX
XX
Source: All About Feed Magazine, The poultry site, The fish site, Primary Interviews, IFIF
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Ruminants: Feed Premix market revenue, by Region, 2012-2020 ($Million) Region
2012
2013
2014
2020
CAGR% (20142020)
North America
XX
360.9
XX
XX
XX
Europe
301.4
XX
XX
XX
XX
Asia-Pacific
XX
XX
XX
XX
3.3
South America
XX
XX
142.3
XX
XX
Africa
XX
XX
XX
59.5
XX
Total
XX
XX
XX
XX
XX
Source: All About Feed Magazine, The poultry site, The fish site, Primary Interviews, IFIF
The global ruminant compound feed market was worth $1,359.5 million in 2013 and is expected to reach $1,684.9 million by 2020, with an expected CAGR of 3.1% from 2014 to 2020. The rising awareness among the consumers about the health hazards of pork meat has slowed down the consumption rate of cattle meat. However the demand for high quality meat & milk from processing industry has created the demand for high quality efficient compound feed and additives generating the market for feed premix especially in North America and Europe. Growth in Asia-Pacific is primarily driven by the high levels of beef consumption in Islamic countries like Pakistan, UAE, and Iran.
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8. COMPANY PROFILES 8.6 DSM NV (The Netherlands) OVERVIEW Royal DSM is a global science-based company active in health, nutrition and materials. By connecting its unique competences in Life Sciences and Materials Sciences DSM is driving economic prosperity, environmental progress and social advances to create sustainable value for all stakeholders simultaneously. DSM delivers innovative solutions that nourish, protect and improve performance in global markets such as food and dietary supplements, personal care, feed, medical devices, automotive, paints, electrical and electronics, life protection, alternative energy and bio-based materials. FINANCIALS Net sales (total continuing operations) were $5824 million in 2014 as of 2013. The total net profit in 2013 was $345 million. PRODUCTS AND SERVICE S Premix production is one of DSM's core businesses and the company has a long history of developing quality feed essential for the healthy growth and physical well-being of animals. The premix will be produced under the ROVIMIX速 trademark to the highest Optimum Vitamin Nutrition standards and products will include innovations such as the use of phytase for environmental protection during animal production, beta-carotene for improved dairy cow productivity and ROVIMIX 速Hy-D for improved performance of poultry and pigs.
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Category
Product
Description Carotenoids are vital antioxidants and vitamin A
CAROPHYLL®
precursors. Carotenoid additives allow producers to deliver precisely-colored and pigmented food reliably and consistently. A supplement of ß-Carotene which- Increases ovulation rates and
Carotenoids
ROVIMIX® ß-Carotene
heat expression -Raises progesterone levels, which in turn reduces embryo mortality rates -Improves embryo quality It is a specific and published
patent solution to boost the MaxiChick™
productivity of the breeder flock and to combat hen culling, infertility, embryo mortality and low-quality chicks It contains essential oil components proven in trials to
CRINA® Eubiotics
increase gut microflora, stimulate the animal to produce more digestive enzymes, and improve feed digestion.
CYLACTIN®
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Cyclatin improves animal performance by-
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- Limiting the growth of harmful bacteria including E.coli, Salmonella and Clostridia - Increasing numbers of lacticacid-producing bacteria - Reducing toxin levels in the intestine - Synthesizing protective shortchain fatty acids - Stimulating the protection of the intestinal wall It is an ultra-pure source of
benzoic acid and is an excellent VevoVitall速
feed preservative. It reduces the activity of micro-organisms on feed, and is particularly effective against fungi and yeasts. It is a fish feed product rich in free nucleotides- an effective
ROVIMAX
速
aqua feed supplement to improve the immune system and health. It is a vitamin E supplement and is shown toReduce the intramammary infection rate at calving by up to
Vitamins
ROVIMIX速 E50
80% Cut the duration of mastitis cases in infected cows by up to 50%, meaning a faster return to production Lower herd somatic cell counts
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It is a specific vitamin D3 metabolite. Vitamin D3 is essential for developing robust bones. It regulates the absorption of calcium and phosphorus, which both play a critical role in bone calcification.
Hy-D®
Hy-D® is supplied as a spraydried beadlet using DSM’s patented technology. This gives a more uniform, better-flowing product with outstanding mixing properties. It is a fish feed vitamin C supplement. Vitamin C is crucial in farmed fish. Fish are unable to synthesize vitamin C themselves, so it must be obtained through their diets. Vitamin C is needed ®
®
ROVIMIX STAY-C 35
for: 1) Growth and development 2) Reproduction 3) Wound healing 4) Resistance to disease and immune system strength Phosphorus is an essential nutrient in livestock diets. It affects growth, reproduction and
Feed Enzymes
®
RONOZYME phytases
feed use. Much of the naturally occurring phosphorus in feed ingredients is unavailable to animals. With
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most plant phosphorus being excreted undigested, inorganic phosphate has to be added to diets to compensate.
RONOZYME® range of carbohydrases has been developed to increase the
RONOZYME® Carbohydrases
efficiency of energy utilization, giving better performance and lower feed costs. RONOZYME® ProAct can:
Increase protein digestibility
Improve protein utilization by the animal
®
RONOZYME ProAct
Allow lower quality protein sources to be included in diets
Protect the environment by reducing the nitrogen excretion from animal husbandry
Source: Company Website STRATEGIES AND INSIGHTS DSM has opened its new feed premix plant in Liaocheng in Shandong province, China. The new facility demonstrates the company's continuing commitment to supporting China's fast growing animal nutrition and health industry. It aims to provide animal nutrition vitamin and mineral premixes with advanced formulas to feed customers in North and North East China.
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The Strategy that DSM embarked on in September 2010- DSM in motion: driving focused growth, marks the shift from a time of intensive portfolio transformation to a new era of maximizing sustainable and profitable growth. Since the beginning of the strategy period, DSM has successfully invested USD $3.65 billion in new businesses, primarily in Nutrition, and radically transformed its portfolio. It has also completed a number of partnerships that have met the company’s strict criteria. The key financial criteria for acquisitions are:
Acquisitions should enable DSM to remain within the boundaries defined for maintaining its Single A credit rating.
They should contribute to cash earnings per share from the beginning.
They should contribute to earnings per share from year two.
They should support DSM’s other financial targets.
By 2015, DSM wants innovative products and solutions to account for 20 percent of its total sales. The company is well on track to deliver on this ambition. Innovation sales are defined as sales of products and applications that have been introduced over the last five years. In 2013, these products and services accounted for 19 percent of total sales and strongly contributed to DSM’s sales and EBITDA growth with gross margins over 5 percent higher than the average of the running business. A key element of the DSM in motion: driving focused growth strategy has been for DSM to broaden its international presence to capture greater megatrend opportunities in high growth economies such as Brazil, Russia, India and China. It is DSM’s aim to increase sales to high growth economies as a portion of DSM’s total sales to about 45 percent by 2015. So far, these economies have accounted for around 60 percent of DSM’s organic growth since the launch of the strategy.
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DEVELOPMENTS Year
Approach
Description DSM Nutritional Products, through its Italian subsidiary Istituto delle Vitamine S.p.A., acquired Italian Cilpaz S.r.l., an animal
July 2012
Acquisition
health and nutrition premix manufacturer. This move is a part of DSM’s inorganic growth strategy that helps to strengthen its position in that region through extended premixes and macropremixes product portfolio. DSM unveiled its animal nutrition and health premix facility in
February 2011
Expansion
Mumbai, India. It will produce high quality feed premixes under the Rovimix brand. The plant facilitates the company to directly supply its high quality products to the Indian Subcontinent, and allows it to capture the rapidly developing animal nutrition and health industries in key growth countries. DSM unveiled its premix facility with a capacity of 15,000 MT in ChangChun City, China; with a total investment of $5 million. The plant is situated in North East China. The addition of the new
June 2010
facility increases the company’s manufacturing reach throughout Expansion
China as its earlier plants are situated in Shanghai, Shandong and Hunan. The company also entered into a framework contract with the ChengDu Modern Industry Park for investment in its next plant in PiXian Country, Sichuan. The new facility will have a capacity of 18,000 MT vitamin/vitamin mineral mixes. It was expected to be operational in the third quarter of 2011. DSM Nutritional Products entered into a joint venture contract
January 2010
Joint venture
with Tatenergo JSC, Tatarstan to build an Animal Nutrition and Health premix facility in the Republic of Tatarstan. The agreement is part of the company’s strategy to enhance its global presence in micronutrient premixes and facilitate business expansion in Russia. The plant was to be operational in early 2011.
Source: Company Website, Press Release
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