The Latin American feed vitamin market is expected to reach USD 1.00 billion in 2024 and reach USD 1.15 billion by 2029, growing at a CAGR of 2.88% from 2024 to 2029.
Brazil is the largest feed-producing country with the highest number of shares. Argentina is attracting feed producers as the government is more focused on beef exports and become a leading country for beef exporting. The Latin American market is viewed as a huge market with a lot of untapped potential by key players, and they adopt product line expansion strategies to penetrate and increase the foothold of their businesses in the market.
Feed vitamins are food supplements that are given to farm animals as they are unable to get enough vitamins from their daily meals. Different vitamins required for the livestock are: Vitamin A is essential for reproduction, milk production, and growth. Vitamin D is essential to consume calcium and phosphorus in the body. Vitamin B usually gets digested in the rumen but monogastric animals require it. Vitamin E is a must for the hatching of eggs.
An increase in demand for high-quality meat generates pressure on farmers and manufacturers, which ultimately fuels the feed market. Another important driving factor in the region is the adoption of the intensive farming system. The only drawback of animal feed is that the raw materials are expensive and also processing requires investment.
This research report on the Latin America feed vitamins market is segmented and sub-segmented into the following categories.
Latin America Feed Vitamin Market – By Vitamin Type:
Latin America Feed Vitamin Market – By Livestock Type:
Latin America Feed Vitamin Market – By Formulation Type:
Latin America Feed Vitamin Market – By Function Type:
Latin America Feed Vitamin Market – By Country:
Mainly, the feed vitamin market is segmented into types of livestock, including swine, ruminants, poultry, aquatic animals, and others. They are either single-functioned or multi-functioned. On the basis of formulation, they are divided into liquid, dry, and other (powder, pellet). Poultry is the largest and fastest-growing segment due to the increase in population and, hence, the increase in the demand for meat and eggs.
KEY MARKET PLAYERS:
Key players that are involved in the market are S.A.S, Aland BASF SE, CSPC Pharmaceutical Group Ltd., Zhejiang Medicine Company Ltd., Pharmative LLC, North China pharmaceutical corporation, Archer Daniels Midland Company, Evonik Industries, and DSM N.V.
Frequently Asked Questions
The current size of the Latin America Feed Vitamin Market is estimated to be USD 1.00 billion in 2024.
Brazil is a leading consumer of feed vitamins in Latin America, with a substantial market share attributed to its large livestock industry and modernized farming practices.
The poultry sector is a major contributor to the demand for feed vitamins in Brazil, emphasizing the crucial role of vitamins in supporting poultry health, growth, and production.
The pandemic initially caused disruptions, but the Latin America Feed Vitamin Market has shown resilience, adapting to challenges, and is expected to recover steadily with a focus on animal health and nutrition.
Feed vitamin practices in Mexico contribute to meat and dairy production efficiency by supporting optimal growth rates, feed conversion ratios, and overall health in livestock.
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