The Latin America feed phosphate market size is expected to reach USD 0.96 Billion in 2024 and reach USD 1.14 billion by 2029, growing at a CAGR of 3.5 % from 2024 to 2029.
Phosphate is a vital nutrient to the animals for optimal growth, fertility, and bone development. But they couldn’t produce enough phosphate on their own, and hence, it is added to the animal feed to deliver the required nutritional content. There are various advantages related to phosphate feed usage, which include meat quality improvement, nutritional quality enhancement, and ease of feed digestibility.
Rising consumption of meat, the structuring of the pork and poultry industry, and the development of livestock during their growth stages are some of the factors driving the market. However, increasing expense of raw materials, Stringent regulations and less availability of phosphate reserves are some of the major factors restraining the market.
Geographically, market is further segmented into brazil, Argentina and Mexico. Latin America is expected to show significant growth during the forecast period owing to the presence of developing countries like brazil, growing consumption of meat, and rising demand for healthy food.
The major players in the market include EuroChem Ltd., The Mosaic Company, Potash Corp., PhosAgro, and OCP Group.
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