The Latin American poultry feed premix market size is expected to reach USD 0.44 billion in 2024 and USD 0.53 billion by 2029, growing at a CAGR of 3.60% from 2024 to 2029.
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.
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 patterns from red meat to white meat. Strict regulatory structures, volatile economies, and increasing operational costs are the major hindrances to the market in this region. An increase in the cost of raw materials is also a key challenge for companies in the market.
The 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 livestock and in the growth of the immune system. The reputation of trace minerals such as zinc, manganese, iodine, and selenium for their functional benefits leads to the strong growth of this segment along with vitamins.
Latin America market region includes countries such as Brazil, Mexico, Argentina, and the remaining countries of South America. The Latin American market is one of the fastest-growing markets 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.
Frequently Asked Questions
As of the latest data, the Latin American poultry feed premix market will be valued at USD 0.44 million in 2024.
Latin America includes Brazil, Mexico, and Argentina, where a thriving poultry industry and increasing demand for quality poultry products drive the need for feed premixes.
In Mexico, key trends include the adoption of sustainable feed premix formulations, the incorporation of natural additives, and a focus on precision nutrition to enhance poultry performance.
In Argentina, the demand for organic poultry products influences the use of organic feed premixes, leading to the development of formulations compliant with organic farming practices.
Regulatory frameworks in Brazil play a significant role in guiding the formulation of poultry feed premixes, ensuring compliance with safety standards, and promoting animal health.
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