The Latin American feed additives market is expected to reach USD 3.46 billion in 2024 and anticipated to reach USD 5.11 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.70% during the forecast period of 2024 to 2029.
Factors such as growth in the development of animal nutrition and the requirement for quality-based meat products in some of the emerging economies such as Mexico, Colombo, Peru, Ecuador, Jamaica and some other countries in Latin America are driving the growth of the feed additives market in Latin America. One of the major driving factors that help the growth of the Latin American feed additives market is the technological advancement in animal nutrition to fulfill the nutrients in livestock production. Rapid urbanization and increasing preference for processed food and growing consumption of poultry and pork as sources of protein are some of the driving factors of the Latin America Feed Additives market.
Strict regulations required for approving new products into the market are a growth-affecting factor in the Latin America feed additives market. The sustainability of feed and livestock is also among the critical restraints to the development of the market for feed additives in this locale.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2029 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2029 |
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CAGR |
7% |
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Segments Covered |
By Type, Livestock, Form, Source and Country |
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Various Analyses Covered |
Global, Regional and country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
Brazil, Mexico, Argentina and Rest of Latin America |
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Market Leaders Profiled |
DowDuPont (US), ADM (US), Evonik (Germany), BASF (Germany), DSM (Netherlands), Solvay (Belgium), Ajinomoto (Japan), Novozymes (Denmark), Cargill (US), InVivo (France), Nutreco (Netherlands), Kemin (US), Adisseo (France), Chr. Hansen (Denmark) and Alltech (US). |
Among these, the mineral segment accounted for a prominent share in terms of volume as they are essential for sustaining and enhancing the overall health of the livestock.
Latin America region is estimated to progress with a considerable share of the feed additives market because of the increasing focus on animal nutrition and the need for high-quality meat products in some of the local provinces like Mexico, Colombo, Peru, Ecuador, Jamaica, and others in Latin America.
Some of the key players in the Latin America feed additives market are Cargill Asia-Pacific Holdings Pte Limited, Lonza Biologics Tuas Pte Ltd, ADM (Shanghai) Management Company, Chr. Hansen (Beijing) Trading Co., Ltd, Evonik (SEA) Pte. Ltd., DuPont Asia-Pacific, Ltd., Novozymes (China) Investment Co., Ltd., BASF Asia-Pacific, DSM Dyneema, Adisseo Asia-Pacific Pte Ltd.
Frequently Asked Questions
The Latin America feed additives market is likely to register a compound annual growth rate (CAGR) of 7% during the forecast period of 2023 to 2028,
The mineral segment accounted for a prominent share in terms of volume as they are essential for sustaining and enhancing the overall health of the livestock.
Some of the key players in the Latin America Feed Additives market are Cargill Asia-Pacific Holdings Pte Limited, Lonza Biologics Tuas Pte Ltd, ADM (Shanghai) Management Company, Chr. Hansen (Beijing) Trading Co., Ltd, Evonik (SEA) Pte. Ltd., DuPont Asia-Pacific, Ltd., Novozymes (China) Investment Co., Ltd., BASF Asia-Pacific, DSM Dyneema, Adisseo Asia-Pacific Pte Ltd. They are playing a dominant role in the Latin America feed additives market.
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