The Latin American feed premix market is expected to be valued at USD 13.84 billion in 2023 and is projected to reach USD 16.76 billion by 2028, growing at a CAGR of 3.9% during the forecast period from 2023 to 2028.
Feed premix is a mixture of nutritional supplements such as vitamins and minerals, that are usually combined with a carrier and ready for mixing with feed. In poultry, it improves egg production in layers and fat in broilers. Manufacturers supply premixes to ensure a uniform supply of nutrients to the animals and enhance their quality and productivity.
The shift in consumption patterns from red meat to white meat especially in developing countries of Latin America is leading to an increase in demand for poultry meat. This factor is driving the market for compound feed which will in turn drive the market for feed premixes.
However, the market is highly constrained by the increasing costs of raw materials and government regulations over product pricing.
This research report on the Latin America feed premix market is segmented and sub-segmented into the following categories:
Latin America Feed Premix Market - By Ingredient Type:
Latin America Feed Premix Market - By Livestock:
Latin America Feed Premix Market – By Country:
Brazil is the largest market within this area and it is also a major exporter of meat to the United States. South America, dominated by Brazil and Chile, may witness an increase in product consumption owing to rising disposable income coupled with the growth of the aquaculture industry.
KEY MARKET PLAYERS:
Cargill, Koninklijke DSM N.V, Nutreco N.V, Archer Daniels Midland Company, InVivo Nutrition et Sante Animales, and Existing companies such as DSM and Nutreco have been actively involved in the acquisition of regional suppliers and ingredient manufacturers in these regions to strengthen their market presence. Key strategies are being employed by major companies in developing Latin American markets through the expansion of manufacturing plant capacities to meet the growing feed premix demand.
As of the latest market data, the Asia Pacific feed premix market is valued at USD 13.84 billion.
The growth in the feed premix market is primarily driven by increasing demand for high-quality animal products, rising awareness about animal nutrition, and a growing livestock industry.
Asia Pacific feed premix market segments are covered by Ingredient, And by livestock.
The poultry industry accounted for the largest share and is projected to be the fastest-growing segment.
Brazil is the largest market within this area and it is also a major exporter of meat to the United States.
Cargill, Koninklijke DSM N.V., Nutreco N.V., Archer Daniels Midland Company, InVivo Nutrition et Sante Animales, and Existing companies such as DSM and Nutreco have been actively involved in the acquisition of regional suppliers.
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