Latin America Poultry Feed Premix Market was worth $0.40 million in 2021 and estimated to be growing at a CAGR of 3.60%, to reach $0.61 million by 2026. Feed premix is a blend of nutritional supplements such as vitamins and minerals, that are usually combined with a carrier and ready for mixing with feed.
Poultry is the most widely consumed meat in the world and its production is more than any other meat category. Poultry Feed Premix has become a vital part of the globally increasing livestock industry and meat production industry.
Latin America Poultry Feed Premix Market Drivers:
The growth of the Latin America Poultry Feed Premix market is majorly driven by factors such as the rise in meat consumption, increase in mass production of meat, and shift in consumption pattern from red meat to white meat. Strict regulatory structures, volatile economies, and increasing cost of operations are the major hindrances for the market in this region. And, an increase in the cost of raw materials is also a key challenge for the companies in the market.
Latin America Poultry Feed Premix Market – By Ingredient Type:
Vitamins segment leads the Poultry Feed Premix market followed by the minerals segment. Vitamins and minerals have been gaining substantial growth, as they serve as a vital factor in enhancing the growth of the livestock and in the growth of the immune system. Reputation of trace minerals such as zinc, manganese, iodine, and selenium for its functional benefits lead to the strong growth of this segment along with vitamins.
Latin America market region includes countries such as Brazil, Mexico, Argentina, and remaining countries of South America. The Latin America market is one of the fastest growing market for Poultry Feed Premix. Brazil accounts for the largest market share and is expected to lead the market during the forecast period. This region is expected to offer lucrative growth opportunities, mainly due to the rise in disposable incomes in developing economies, primarily in Brazil.
Some of the major companies dominating the market in this region are Cargill, Koninklijke DSM N.V., Nutreco N.V., Archer Daniels Midland Company, and InVivo Nutrition et Sante Animales.
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