Latin America Animal Feed Additives Market size to exceed $3.5bn by 2027

Latin America Animal Feed Additives market size is set to surpass USD 3.5 Billion by 2027, according to a new research report by Global Market Insights Inc.
 

Animal feed additives are food supplements for animals raised in farms, as it helps to improve animal feed quality coupled with the quality of food from animal origin as well as enhances animal performance & health. They improve the value of livestock by overcoming various animal health issues such as nutrient problems, deficiencies, weak bone structure, trouble in digesting feed, troubled pregnancies, and lack of appetite. Feed additives include vitamins, pigments, antioxidants, amino acids, flavors, and probiotics for swine, poultry, aquaculture, pets & cattle.

 

Increasing consumption of meat & meat products in different countries of Latin America including Brazil, Argentina, and Chile, among others due to increasing livestock production along with the easy availability of meat products owing to efficient distribution channels, such as supermarkets and retail stores, is likely to stimulate Latin America animal feed additives market demand. An upsurge in monetary support for livestock farmers to start various businesses, which includes livestock rearing and breeding is estimated to boost the feed additives adoption in the foreseeable timeframe.
 

The shifting preference of livestock and pet owners toward the use of natural & organic animal feed products is likely to further promote the market expansion in the region over the forecast period. Consumers in Latin America exhibit growing awareness of the undesirable impacts of antibiotics and synthetic growth promoters on animal & human health which represents ample growth opportunities.
 

Increasing adoption of vitamins to enhance the livestock’s reproduction abilities and body development should propel Latin America animal feed additives market statistics

Vitamins product segment surpassed USD 425 million in 2020 and is estimated to record a CAGR of above 5% in the forecast period.  Vitamins are anticipated to witness significant demand as they are essential and irreplaceable micronutrients for normal physiological functions in animals, which will proliferate product demand and thus contribute to the business growth. Vitamins are highly used in animal feed owing to their ability to provide various health benefits to animal body such as reproduction, body development, growth & animal wellbeing.
 

The deficiency of vitamin D leads to impaired bone mineralization & abnormal skeletal development and results in a condition called rickets in young animals & osteomalacia in growing animals; therefore, vitamin D additive is essential for animal feed. Livestock, such as poultry and pigs, raised indoors can be vitamin D deficient; therefore, the incorporation of vitamin D in their feed becomes essential, which is projected to contribute to Latin America animal feed additives market demand.
 

Rising concerns regarding feed shelf life among livestock breeders should trigger feed antioxidants demand in Latin America

Antioxidants restrict oxidation through free radicals and increase product shelf life. They are used to protect nutritional supplements, such as vitamins, fats, and pigments, used in the feed from deterioration. Thus, the surging demand for high and improved quality feed products coupled with rising focus of feed manufacturers on adding functional ingredients in the products will stimulate the demand for feed antioxidants.
 

Latin America animal feed additives market from antioxidants is set to surpass USD 185 million by 2027. The substantial expansion of the animal feed industry in Brazil and Argentina in recent years has resulted in booming demand for feed antioxidants. Moreover, rising feed costs have prompted livestock farmers to incorporate antioxidants to prevent spoilage and enhance product shelf life which should augment market trends.
 

Browse key industry insights spread across 650 pages with 576 market data tables and 49 figures & charts from the report, “Latin America Animal Feed Additives Market Forecasts by Livestock (Poultry {Boilers, Layers, Turkey}, Aquaculture {Salmon, Trout, Shrimps}, Pork/Swine, Cattle {Dairy, Beef, Calf}, Pet), By Product (Vitamins {Vitamin A, C, D, E, K, B1, B2, B6, B12, Biotin, Folic Acid, Niacin, Caplan}, Amino Acids {Tryptophan, Lysin, Methionine, Threonine}, Antioxidants {Natural, Synthetic}, Enzymes {Phytase, Non-Starch Polysaccharide}, Sweeteners {Natural[Stevia, Thaumatin], Synthetic[Neotame, Saccharine]}, Flavors {Natural, Synthetic}, Pigments {Synthetic Red, Natural Red, Synthetic Yellow, Natural Yellow}, Probiotics {Lactobacilli, Bacillus, Bifidobacterium, Streptococcus}, Acidifiers {Propionic Acid, Malic Acid, Lactic Acid, Formic Acid}), Regional Outlook, Industry Analysis Report, Price Trend, Competitive Market Share & Forecast, 2021– 2027 ” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/latin-america-animal-feed-additives-market
 

Increase in adoption of animal feed additives among cattle breeders to get higher return on investment should stimulate product demand

Latin America animal feed additives market demand from cattle livestock exceeded USD 615 million in 2020. Increasing cattle production and awareness among breeders is making the segment dominant. Breeders use many animal feed additives to enhance the growth of cattle. Flavors also play an essential role in cattle feed production as cows have several taste buds.
 

Increasing compound feed industry in Mexico should drive animal feed additives demand

Mexico is likely to surpass a market value of around USD 1.2 billion by 2027 owing to high production of animal feed in the country. High economic growth, industrialization of the livestock industry, increasing farmers' awareness about the animal feed additives, and government’s support are some of the major factors propelling the regional market growth. Increasing consumption of processed meat, as well as product has further increased the incorporation of compound feed and feed additives in the country. Rising production and export of meat in Mexico has raised animal feed additives penetration in the country.
 

Latin America animal feed additives market ‘s share comprises of several companies such Cargill Incorporated, DSM, Alltech Inc., Dupont, BASF SE, Kemin Industries, ADM, and Evonik Industries AG.