Latin America Compound Feed Market was worth $52.02 billion in 2021 and estimated to be growing at a CAGR of 1.90%, to reach $57.15 billion by 2026. 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. The 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, pig, ruminants, fish, etc.
Latin America Compound Feed Market Drivers:
The growth of the Latin America Compound feed market is majorly driven by factors such as the rise in meat consumption, increase in mass production of meat, and recent livestock disease outbreaks. Different 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 Compound Feed Market - By Ingredients:
Latin America Compound Feed Market - By Supplements:
Latin America Compound Feed Market - By Animal:
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.
The Market is geographically divided into:
The Latin America market is one of the fastest growing markets for Compound feed market. Brazil accounts for the largest market share and is expected to lead the market during the forecast period. The Latin America region is expected to offer lucrative growth opportunities, owing to the considerable increase in feed production and increasing awareness among the 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.
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