Latin America Medicated Feed Additives Market value of USD 1150 million in 2021 and is forecasted to exhibit a CAGR of 5.31% and reach USD 1960 million by 2026.
The Medicated Feed Additives market is predicted to showcase huge potential in the forecasting period. The market has continued to gain momentum with the rising awareness about the benefits of nutrient content of the meat and dairy products. Therefore, more and more companies have started taking interest in the market lately.
The medicated feed term refers to the various products in an animal feed which are responsible for maintaining a proper balance of nutrients in it. It basically involves products such as supplements, concentrates etc., which are an important part of the animal diet. Medical feed additives are the additives for animal feed to keep the feed enriched with nutrients and in turn enhance the productivity.
Drivers and Restraints of Latin America Medicated Feed Additives Market:
The rising population has created a need for higher quality meat rich in nutrients, resulting in a path for the market to breakthrough. Other important factors fuelling the growth include increase in disposable income, organization in livestock industry, epidemic outbreak in animals, and different animal husbandry practises implemented for the purpose of improvement of quality of meat. However, on the different side the market faces few challenges and restraints as well, the major ones being stringent regulations by the government, alternatives like organic products being used and the risk factor for humans with the use of the products.
Latin America Medicated Feed Additives Market – By Type:
The enzymes segment leads the market share.
Latin America Medicated Feed Additives Market – By Livestock:
The cattle segment had for the highest market share under livestock segmentation due to increase in production of cattle meat over the recent years and is expected to grow even further.
Latin America Medicated Feed Additives Market – By Misture Types:
On the basis of geography, the Latin America market is analysed under various regions namely Brazil, Argentina, Mexico and rest of Latin America.
The major companies dominating the market share include Cargill, Zoetis Inc., Archer Daniels Midland Company, Purina Animal Nutrition (Land O’ Lakes), CHS Inc., Adisseo France Sas, Biostadt India Limited, Alltech Inc. (Ridley), Hipro Animal Nutrtion, Zagro.
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