Latin America is an emerging market for feed vitamin which is estimated to reach 1.25 billion in 2026 from 0.92 billion in 2021 by growing at a high CAGR of 2.88% in the forecast period 2022 - 2027. Brazil is the largest feed producing country with the highest number of shares. Argentina is attracting feed producers as the government is more focused on beef exports and become a leading country for beef exporting. The Latin American market is viewed as a huge market with lot of untapped potential by key players and they adopt product line expansion strategies to penetrate and increase the foothold of their businesses in the market.
Feed vitamins are food supplements which are given to farm animals as they are unable to get enough vitamins from the daily meals. Different vitamins required for the livestock are: Vitamin A is essential for reproduction, milk production and growth. Vitamin D is essential to consume calcium and phosphorus in the body. Vitamin B usually gets digested in the rumen but monogastric animals require it. Vitamin E is must for hatching of the eggs.
Latin America Feed Vitamin Market Drivers:
Increase in demand of high quality meat generates a pressure on farmers and manufacturers which ultimately fuels the feed market. Other important driving factor in the region is adoption of intensive farming system. The only drawback of animal feed is that the raw materials are expensive and also processing requires investment.
Mainly the feed vitamin market is segmented into type of livestock including swine, ruminants, poultry, aquatic animals and others. They are either single functioned or multi functioned. On the basis of formulation, they are divided into liquid, dry and others (powder, pellet). Poultry is the largest and fastest growing segment due to increase in population and hence increase in the demand of meant and egg.
Key players in the market are S.A.S, Aland BASF SE, CSPC Pharmaceutical Group Ltd., Zhejiand Medicine company Ltd., Pharmative LLC, North China pharmaceutical corporation, Archer Daniels Midland company, Evonik industries and DSM N.V.
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