Latin America Feed Phosphate Market was worth USD 0.870 Billion in 2021 and is expected to reach USD 1.03 Billion by 2026 with a CAGR of 3.5 %.
Phosphate is a vital nutrient to the animals for optimal growth, fertility, and bone development. But they couldn’t produce enough phosphate on their own and hence it is added to the animal feed to deliver required nutritional content. There are various advantages related to the phosphate feed usage which includes meat quality improvement, nutritional quality enhancement, and ease in feed digestibility.
Drivers and Restraints of Latin America Feed Phosphate Market:
Rising consumption of meat, structuring of pork and poultry industry, developing livestock during their growth stages are some of the factors driving the market. However, increasing expense of raw materials, Stringent regulations and less availability of phosphate reserves are some of the major factors restraining the market.
Latin America Feed Phosphate Market – By Type:
Latin America Feed Phosphate Market – By Livestock:
Geographically, market is further segmented into brazil, Argentina and Mexico. Latin America is expected to show significant growth during the forecast period owing to the presence of developing countries like brazil, growing consumption of meat, and rising demand for healthy food.
The major players in the market include EuroChem Ltd., The Mosaic Company, Potash Corp., PhosAgro, and OCP Group.
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