Latin America Feed Antioxidants Market was worth USD 31.63 million in 2021 and estimated to be growing at a CAGR of 5.13%, to reach USD 42.2 million by 2026.
The Latin America Feed Antioxidants Market has continued to rise as a result of essential contribution by Antioxidants to all kinds of animal feeds and hence is expected to exhibit steady growth in coming years, resulting in companies in agriculture industry to show interest in the market.
Feed Antioxidants are chemical compounds used as additives in feed for animals to provide them with a better shelf life by preventing oxidation in finished feeds and animal guts. Antioxidants also help in saving the nutritional supplements in the animal feed from deteriorating, which includes fats, vitamins and pigments.
Drivers and Restraints of Latin America Feed Antioxidants Market:
Increasing awareness about benefits of antioxidants on animal health among farmers has led the market to show evident growth lately. Other important factors driving the Latin America Feed Antioxidants market include industrialization of livestock industry, rising feed prices, reduced wastage due to oxidation and the outbreak of livestock disease fuelling additives market. These factors played a key in the recent growth of the Latin America Feed Antioxidants market. Besides these factors, the Latin America market is also facing some challenges and restraints which include stringent government regulations, competition for raw materials with other industries, and price volatility of Agri-commodities.
Latin America Feed Antioxidants Market – By Livestock:
Poultry accounts for the highest share in the Latin America Feed Antioxidants market due to the adoption of intensive farming system for it more than in any other segment.
Latin America Feed Antioxidants Market – By Antioxidant Type:
The market is dominated by ethoxyquin because of its efficacy, closely followed by BHT and BHA.
On the basis of geographical analysis, the Latin America Feed Antioxidants market is segmented under various regions namely Brazil, Argentina, Mexico and Rest of Latin America.
Some of the major companies leading the Latin America Feed Antioxidants market include AllTech, Perstorp, Adisseo France SAS, Archer Daniels Midland Company, Cargill Inc, DSM, Danisco, Nutreco N.V., Kemin Europa, Novus International.
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