Latin America Animal Feed Additives Market to hit $3.5 billion by 2027, Says GMI
Latin America Animal Feed Additives Industry is poised to register around 5.5% CAGR through 2027 due to rising awareness of animal feed additives among livestock farmers.
Selbyville, Delaware , Feb. 08, 2022 (GLOBE NEWSWIRE) —
The Latin America animal feed additives market is expected to cross USD 3.5 Billion by 2027, according to a new research report by Global Market Insights Inc. Rising demand for supplements in livestock and increasing consumption for meat & meat products are some of the important reasons which are creating various opportunities for Latin American market growth.
Acidifiers segment exceeded USD 375 million by 2020. Acidifiers will witness substantial demand owing to its ability to improve the immune response in animals by favourably manipulating the intestinal microbial populations. They perform an activity like antibiotics in animals and counters pathogenic bacteria which will fuel acidifiers demand for animal feed application thus fostering market demand.
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Acidifiers such as propionic acid finds extensive adoption as feed additive in poultry feed owing to its ability to improve the overall performance of poultry which will promote product demand. Propionic acid with effective health enhancing, growth promoting, as well as antimicrobial effects is considered as an alternative to antibiotic growth promoters in poultry production.
Some major findings of the Latin America animal feed additives market report include:
- Probiotics segment is projected to register over 5.5% CAGR through 2027. The impact of probiotics on intestinal bacteria is of prime importance owing to which it is widely used in animal feed thus fueling product demand.
- Pigments product segment surpassed USD 150 million in 2020 due to rising awareness about the health benefits of carotenoids in animals and increasing preference for pellet feed.
- Aquaculture livestock segment is likely to surpass USD 110 million by 2027 owing to increasing preference of consumers for low calorie healthy diet.
- The market is competitive and includes manufacturers such as ADM, DSM, BASF SE, Alltech Inc., Evonik Industries AG, Kemin Industries, Cargill Incorporated, and Dupont.
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, Aquaculture, Pork/Swine, Cattle, Pet), Product (Vitamins, Amino Acids, Antioxidants, Enzymes, Sweeteners, Flavors, Pigments, Probiotics, Acidifiers), 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
Latin America animal feed additives market from swine livestock is set to surpass USD 800 million by 2027. Swine requires additives in every stage of their life cycle to ensure a normal growth and body function. The diet of swine needs to be healthy and balanced with desirable levels and ratio of various additives which provides a balanced feed. Rising penetration of technologies to reduce environmental footprint and increasing focus of livestock breeders to increase their return on investment should strengthen product demand.
Argentina animal feed additives market is likely to surpass USD 370 million by 2027 growing at a CAGR of over 5% on account of increasing beef exports. Argentina has witnessed significant growth in beef exports in recent years which has strengthened the country’s market position as a beef supplier.
Argentina has boosted its beef exports to China in recent years which has also helped the country to contribute significantly to its economy. Thus, increasing global demand for beef has influenced Argentina to increase its domestic production which should stimulate the demand for animal feed additives in the country.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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