The Latin American compound feed market is predicted to grow to USD 55.05 billion in 2024 and is anticipated to reach USD 60.48 billion by 2029, estimated to be growing at a CAGR of 1.90% from 2024 to 2029.
The compound feed consists of food products manufactured especially for animals. The Latin America compound feed market is developing at a significant rate due to the increase in the livestock population. Compound feed is a mixture of raw materials and supplements sourced from either plants or animals, fed to the livestock orally. The most commonly used raw materials are soybean, corn, barley; wheat, and sorghum. The most common additives to form compound feed are minerals, amino acids, antibiotics, and colorants. Compound feed has become an essential part of the globally increasing livestock industry and meat production industry. The end consumers of the compound feed are poultry, pigs, ruminants, fish, etc.
The growth of the Latin American compound feed market is majorly driven by factors such as the rise in meat consumption, the increase in mass production of meat, and recent livestock disease outbreaks. Different regulatory structures, volatile economies, and increasing costs of operations are the major hindrances to the market in this region. An increase in the cost of raw materials is also a key challenge for companies in the market.
Poultry, pork, and cattle are the largest consumers of compound feed in this region, accounting for the major share of the overall compound feed market.
The Latin American market is one of the fastest-growing markets for the Compound feed market. Brazil accounts for the largest market share and is expected to lead the market during the forest period. The Latin America region is expected to offer lucrative growth opportunities, owing to the considerable increase in feed production and increasing awareness among consumers about the quality of meat products and due to the rise in disposable incomes in developing economies, primarily in Brazil. For example, Aquaculture is a major economic activity in Chile.
Cargill Inc, Charoen Pokphand Foods, Archer Daniels Midland Company, Land o’ Lakes, Inc, Nutreco, ALLTECH, INC, New Hope Group Co. Ltd, Wen’s Group, For Farmers B.V, Agribusiness Holding Miratorg, Kyodo Shiryo Company, Sodrugestvo Group S.A, DeKalb Feeds, Inc, De Heus B.V, Ballance Agri-Nutrients Ltd, J.D. Heiskell & CO, Kent Feeds, Weston Milling Animal Nutrition, EWOS GROUP are some of the major key players involved in the Latin America compound feed market.
Frequently Asked Questions
The current size of the Latin America compound feed market at USD 54.02 billion in 2023.
The Latin America compound feed market is predicted to grow to USD 59.35 billion by 2028.
Poultry, pork, and cattle are the largest consumers of compound feed in this region, accounting for the major share of the overall compound feed market.
Cargill Inc, Charoen Pokphand Foods, Archer Daniels Midland Company, Land o’ Lakes, Inc, Nutreco, ALLTECH, INC, New Hope Group Co. Ltd, Wen’s Group, For Farmers B.V, Agribusiness Holding Miratorg, Kyodo Shiryo Company, Sodrugestvo Group S.A, DeKalb Feeds, Inc, De Heus B.V, Ballance Agri-Nutrients Ltd, J.D. Heiskell & CO, Kent Feeds, Weston Milling Animal Nutrition, EWOS GROUP. Are some of the major key players involved in the Latin America compound feed market.
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