Latin America Feed Additives Market

Latin America Feed Additives Market (2023 to 2028)

The Latin American feed additives market is expected to grow at a compound annual growth rate (CAGR) of 7% during the forecast period of 2023 to 2028.

Factors such as growth in the development of animal nutrition and the requirement for quality-based meat products in some of the emerging economies such as Mexico, Colombo, Peru, Ecuador, Jamaica and some other countries in Latin America are driving the growth of the feed additives market in Latin America. One of the major driving factors that help the growth of the Latin American feed additives market is the technological advancement in animal nutrition to fulfill the nutrients in livestock production. Rapid urbanization and increasing preference for processed food and growing consumption of poultry and pork as sources of protein are some of the driving factors of the Latin America Feed Additives market.

Strict regulations required for approving new products into the market are a growth-affecting factor in the Latin America feed additives market. The sustainability of feed and livestock is also among the critical restraints to the development of the market for feed additives in this locale.

Impact of COVID-19 on Latin America Feed Additives Market:

The coronavirus pandemic has affected the business mainly in three ways directly affecting production, creating supply chain and market disturbance, and financially. COVID-19 has impacted different sectors like restaurants, manufacturing units, flights, traveling and so many other sectors, resulting in a halt of services. Due to the coronavirus, the Latin American feed additives market has been facing some problems and recorded financial losses because of the crisis for production units in this industry. As per the analysis, the industry experts are predicting that the market will boost up and likely to return to the normal stage once the vaccine gets released. As we all are aware in most countries, the government has already lifted the lockdown and given permission for the manufacturing companies to start their businesses with strict rules and regulations, which will act positively for the feed additives market.

REPORT COVERAGE:

This market research report on the Latin American feed additives market is segmented and sub-segmented into the following categories.

Latin America Feed Additives Market – By Type:

• Vitamins
• Acidifiers
• Amino acids
• Phosphates
• Carotenoids
• Enzymes
• Mycotoxin detoxifiers
• Flavors & sweeteners
• Antibiotics
• Minerals
• Antioxidants
• Non-protein nitrogen
• Phytogenics
• Preservatives
• Probiotics

Among these, the mineral segment accounted for a prominent share in terms of volume as they are essential for sustaining and enhancing the overall health of the livestock.

Latin America Feed Additives Market – By Form:

• Powder/dry and liquid

Latin America Feed Additives Market – By Source:

• Natural
• Synthetic

Latin America Feed Additives Market – By Livestock:

• Ruminants
• Poultry
• Swine
• Aquatic animal
• Others, such as equine and pets

Latin America Feed Additives Market – By Region:

• Brazil
• Mexico
• Argentina
• Chile
• Rest of Latin America

Latin America region is estimated to progress with a considerable share of the feed additives market because of the increasing focus on animal nutrition and the need for high-quality meat products in some of the local provinces like Mexico, Colombo, Peru, Ecuador, Jamaica, and others in Latin America.

KEY MARKET PLAYERS:

Some of the key players in the Latin America feed additives market are Cargill Asia-Pacific Holdings Pte Limited, Lonza Biologics Tuas Pte Ltd, ADM (Shanghai) Management Company, Chr. Hansen (Beijing) Trading Co., Ltd, Evonik (SEA) Pte. Ltd., DuPont Asia-Pacific, Ltd., Novozymes (China) Investment Co., Ltd., BASF Asia-Pacific, DSM Dyneema, Adisseo Asia-Pacific Pte Ltd.