Latin America Feeding Systems Market size was around USD 120.59 million in 2021. It is expected to grow at a CAGR of 7.2% to reach USD 171.88 million by 2026. It captures 12% of the global market. Feeding systems are designed to efficiently manage nutritional requirements of animal husbandry and other business related to it. The main reason for installation of these systems is to automate the entire process of feeding the animals along with cost reduction.
Drivers and Restraints of Latin America Feeding Systems Market:
Augmenting size of dairy farms worldwide, rising focus of companies on technological advancements in the feeding management coupled with new product launches, and considerable cost savings related to the adoption of feeding systems are the key factors anticipated to drive the growth of the market during the aforementioned forecast period. The primary restraint for the growth of the market is the paucity of trained professionals to handle numerous types feeding systems and high upfront cost involved in the installation of automated feeding systems. Currently, there is an inadequate supply of trained professionals in the livestock industry.
Latin America Feeding Systems Market – By Offering:
Various factors, like enhanced performance of these hardware and software systems, standardization of hardware and software systems, and reduced time and cost related to the feeding management are incentivizing the livestock owners to adopt various types of feeding systems. The hardware offering category is projected to command the feeding systems market during the aforementioned forecast period.
Latin America Feeding Systems Market – By Application:
The swine farm application category of the feeding systems market is estimated to grow at the highest CAGR during the aforementioned forecast period. The high growth of this application category is due to the growing adoption of automated feeding systems like liquid feeding systems and dry feeding systems on swine farms for feeding livestock.
Latin America Feeding Systems Market – By Type:
Manual feeding of livestock is very costly and time-consuming process because of the large-scale labour involved in it. Hardware and software feeding solutions enable automatic identification of livestock and data capturing, resulting in accurate and quick tracking of livestock and their feeding.
By geography, the Latin America Feeding Systems market has been categorized into
Brazil and Argentina are predicted to lead this regional market
Major players in this market include Trioliet B.V. (Netherlands), DeLaval Holding AB (Sweden), Lely Holding S.A.R.L (Netherlands), Cormall AS (Denmark), and GEA Group AG (Germany), among others and providers of software and services for feeding systems, which include Agrologic Ltd (Israel), Cormall AS (Denmark), Rovibec Agrisolutions Inc. (Canada), and DairyMaster (Ireland), among others.
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