Latin America Compound Feed Market

Latin America Compound Feed Market (2023 to 2028)

The Latin American compound feed market is predicted to grow to USD 54.02 billion in 2023 and is estimated to be growing at a CAGR of 1.90% to reach USD 59.35 billion by 2028.

 The compound feed consists of food products manufactured especially for animals. The Latin America compound feed market is developing at a significant rate due to the increase in the livestock population. Compound feed is a mixture of raw materials and supplements sourced from either plants or animals, fed to the livestock orally. The most commonly used raw materials are soybean, corn, barley; wheat, and sorghum. The most common additives to form compound feed are minerals, amino acids, antibiotics, and colorants. Compound feed has become an essential part of the globally increasing livestock industry and meat production industry. The end consumers of the compound feed are poultry, pigs, ruminants, fish, etc.

The growth of the Latin American compound feed market is majorly driven by factors such as the rise in meat consumption, the increase in mass production of meat, and recent livestock disease outbreaks. Different regulatory structures, volatile economies, and increasing costs of operations 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 Latin America Compound feed market is segmented and sub-segmented into the following categories:

Latin America Compound Feed Market - By Ingredients:

• Cereals
• Cereals by-Product
• Oilseed Meal
• Oil
• Molasses
• Supplements
• Others

Latin America Compound Feed Market - By Supplements:

• Vitamins
• Antibiotics
• Antioxidants
• Amino Acids
• Feed Enzymes
• Feed Acidifiers
• Others

Latin America Compound Feed Market - By Animal:

• Ruminant
• Swine
• Poultry
• Aquaculture
• Others

Poultry, pork, and cattle are the largest consumers of compound feed in this region, accounting for the major share of the overall compound feed market.

Latin America Compound Feed Market – By Country:

• India
• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of Latin America

The Latin American market is one of the fastest-growing markets for the Compound feed market. Brazil accounts for the largest market share and is expected to lead the market during the forest period. The Latin America region is expected to offer lucrative growth opportunities, owing to the considerable increase in feed production and increasing awareness among consumers about the quality of meat products and due to the rise in disposable incomes in developing economies, primarily in Brazil. For example, Aquaculture is a major economic activity in Chile.

KEY MARKET PLAYERS:

Cargill Inc, Charoen Pokphand Foods, Archer Daniels Midland Company, Land o’ Lakes, Inc, Nutreco, ALLTECH, INC, New Hope Group Co. Ltd, Wen’s Group, For Farmers B.V, Agribusiness Holding Miratorg, Kyodo Shiryo Company, Sodrugestvo Group S.A, DeKalb Feeds, Inc, De Heus B.V, Ballance Agri-Nutrients Ltd, J.D. Heiskell & CO, Kent Feeds, Weston Milling Animal Nutrition, EWOS GROUP are some of the major key players involved in the Latin America compound feed market.