Latin America Poultry Feed Market was worth USD 0.93 billion in 2021 and estimated to be growing at a CAGR of 6.93%, to reach USD 1.3 billion by 2026. The market is not so big in this region when compared to big players in terms of regions, but the growth rate in this region is large. Poultry Feed is the food given to the farm animals mainly, chickens, turkeys, or any other animals which give meat. The objective of poultry feed is to make the farm animals healthier so that they can provide better meat or other products, like eggs.
For poultry feed to be healthy, it should contain lots of protein and carbohydrates, along with a sufficient amount of vitamins, minerals, and an adequate amount of water. With the increase in demand of meat and eggs, the market has also grown a lot. Hence, the research to make better poultry feed has increased and there have been many developments since the early 2000s. With North America being, which is the most developed region in the world, its neighbor and technology export to this region is very fast, so because of technological advancements in this region, the market is growing at a faster rate.
With the increase in spending capabilities of people due to increased incomes of people, more urbanization, mainly drivers moving to big cities, and increasing population, there has been a huge increase in demand for animal protein, especially meat and eggs, hence triggering the increase in demand of poultry feed and additives. In addition, people’s increasing fondness of eating outside at fancy restaurants is also driving this market. There has also been an increase in poultry-related diseases in the recent past, so it is the factor that is concerning people and taking away from poultry products which affect the poultry feed market. Besides this, economic conditions in the countries of Latin America is not that good, so it is also affecting this market as people are not able to afford poultry products that often.
Feed acidifiers attribute to the largest share among all other poultry additive segments in this region.
Latin America market region includes countries such as Brazil, Mexico, Argentina, and the remaining countries of South America. Brazil has the fastest growing market in this region followed by Argentina.
Some of the major companies dominating the market, by their products and services include JBS S.A. (Brazil), Tyson Foods (U.S.), BRF (Brazil), and Cosuel (Mexico).
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