Latin America Animal Feed Micronutrients Market was worth USD 320.11 Million in 2021 and is expected to reach USD 425.79 Million by 2026 with a CAGR of 5.8 %. The Latin America Animal Feed Micronutrients Market is increasing at a tremendous pace because of its large population and increasing economies in developing countries.
Animal Feed Micronutrients are important animal feed additives for improving animal feed quality to produce high quality animal products like milk, wool etc. and also for the good health of pet animals. Animal Feed micronutrients are becoming famous essentially because of the greater performance and growing applications, for example, development promoter, prevention, and cure of illnesses, for amplifying reproduction rate and for improving feed digestibity in animals.
Drivers and Restraints of Latin America Animal Feed Micronutrients Market:
Growing expenses on animal wellbeing, Rising interest of owning pet animals, and wellness combined with success of animal feed micronutrients in development and fertility of the animals are some of the major factors driving the Latin America animal feed micronutrients market. Furthermore, the rising demand for animal protein from milk and meat delivering cattle combined with recent illness epidemic in cattle is further driving the Latin America animal feed micronutrients market.
The critical dosage use of animal feed micronutrients and lack of awareness about the advantages of micronutrients among uneducated and poor farmers are major factors restraining the Latin America animal feed micronutrients industry.
Latin America Animal Feed Micronutrients Market – By Types of Micronutrients:
Latin America Animal Feed Micronutrients Market – By Livestock:
Geographically, this market is further segmented in to
Latin America is increasing at a significant pace because its growing demand of protein rich foods.
Major companies operating in the Latin America market include Archer Daniels Midland Company (ADM), Balchem Corp., Lallemand Inc, Alltech Inc., Cargill Inc., Novus International Inc., Kemin Industries Inc., Zinpro Corporation, Nutreco N.V. and Qualitech Inc.
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