Latin America Feed Preservatives Market was worth $1.27 billion in 2021 and estimated to be growing at a CAGR of 9.13%, to reach $2.42 billion by 2026.
The market is expected to show enormous potential in the mentioned period. The market continues gaining momentum with the growing awareness about practises in feed management and customized formulations to reduce production costs and thus improve livestock health, which has in turn led to increase in investments on higher quality feed products, resulting in rising need for preservatives.
Feed Preservatives comprise of a bunch of feed additives like acidifiers, antioxidants etc. which are mainly used in maintaining a better hygiene for livestock and thus improve their productivity. They are usually used for improvement of feed quality by increasing the nutritional content of the feed.
Drivers and Restraints of Latin America Feed Preservatives Market:
There are so many factors driving the Feed preservatives market and responsible for the market to showcase immense potential in the given forecast period. The major ones include unpredictable crop harvest patterns which have led to the need for feed storage and regulatory requirements to improve feed quality. Further, Industrialization of poultry sector across developing markets has also acted as an important factor contributing to the growth of the market. As far as restraints challenges concerned there has been just one major one holding down the market’s potential recently which is, the limitation on profit margins of the End Product. As a result of the low profits the market has witnessed lower investments than its potential.
Latin America Feed Preservatives Market - By Type:
Latin America Feed Preservatives Market - By Livestock:
Latin America Feed Preservatives Market - By Feed Type:
On the basis of geography, the Latin America market is analysed under various regions namely
Major Key Players:
Some of the major companies dominating the market, by their products and services include BASF SE, Impextraco NV, E.I. Dupont De Nemours and Company, Alltech Inc., Nutreco N.V., Novus International Inc., Biomin Holding GmbH, Perstorp Holding AB, Cargill Inc., Kemin Industries Inc.
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