Latin America Animal Feed Additives Market Size

North America Micronutrient Fertilizers Market Size

Latin America Animal Feed Additives Market size exceeded USD 2.5 billion in 2020 and is estimated to grow at a CAGR of over 5.5% through 2027. Rising awareness of animal feed additives among livestock farmers is projected to drive overall market growth.

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Animal feed additives play an important role in animal nutrition by enhancing the yield & quality of feed and ensures improved animal health & performance. Animal feed suppresses harmful microbes and helps to promote beneficial microorganism’s growth, thus boosting gut health and effective digestive & immunoregulatory mechanism. A rise in financial support for farmers to undertake various agribusinesses, such as livestock and poultry, is likely to raise the demand for cost-effective animal nutrition products, thereby driving the animal feed additives market size in Latin America.

Furthermore, growing inclination towards the use of natural animal feed additives is another factor propelling the market expansion. Natural animal feed additives, are made of ingredients that are derived from natural bioactive compounds, have a positive impact on animal health and growth. The growing awareness among livestock owners regarding the importance of animal safety and health coupled with growing concerns regarding food quality is estimated to drive the demand for natural animal feed additives over the coming years.
 

Feed phytogenic is a type of natural feed additives that possess antiviral, antifungal, antioxidative, and antimicrobial properties. They are known for improving livestock productivity through the amelioration of feed properties and enhancing the food quality derived from them. Thus, increasing awareness about this product among local livestock breeders is propelling the market statistics.
 

Increasing health consciousness among the global population is encouraging people to adopt a healthy lifestyle and incorporate protein-rich foods in their daily diets, thus raising the demand for meat and boosting the livestock sector growth. Moreover, increasing desk-bound lifestyle, hectic schedules, lack of time to cook & consume food, and changing consumption patterns are likely to raise the demand for ready-to-eat & processed meat products, fostering the Latin America animal feed additives market forecasts.