The Latin America animal feed market is expected to exhibit a growth rate (CAGR) of 3.55% during 2023-2028.
Animal feed refers to processed, semi-processed, and raw products that are fed to livestock and poultry. Some of the most common feed types include cereal grains, hay and silage crops, pasture grasses, and other by-products of food crops, such as sugar beet pulp, pineapple bran, brewers' grains, etc. Animal feed offers several nutritional ingredients, mainly comprising of proteins, fibers, minerals, carbohydrates, enzymes, antibiotics, acidifiers, antioxidants, etc. The feed acts as a source of energy for enhancing the growth and development of animals along with improving the quality of various end-products, including eggs, meat, and milk.
In Latin America, the increasing consumption of animal-based products has led to the expansion of the livestock and poultry sectors, which is currently driving the demand for animal feed. In line with this, the changing consumer inclination from a high-calorie, carb-based diet towards protein-rich alternatives, including milk, egg, seafood, and meat, is also propelling the market growth. Additionally, the growing penetration of industrialization trends in the meat sector to cater to the increasing food consumption is further augmenting the demand for animal feed in Latin America. Moreover, numerous government bodies are launching innovative support policies that aid the breeders in using high-quality products to ensure optimum animal health and prevent disease outbreaks. Apart from this, the shifting consumer preferences from conventional livestock and poultry products, which usually contain antibiotics, GMOs, chemical additives, etc., towards organic variants are also fueling the market growth. Furthermore, the growing awareness towards the numerous benefits associated with algae-based animal feed in producing premium quality eggs, milk, and meat, is further bolstering the market growth. In the coming years, the rising incorporation of non-genetically modified organisms (non-GMO) ingredients in animal feed will continue to drive the market in Latin America.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the Latin America animal feed market report, along with forecasts at the regional and country levels from 2023-2028. Our report has categorized the market based on type, livestock, raw material and production system.
Breakup by Type:
- Compound Feed
Breakup by Livestock:
- Aquatic Animals
Breakup by Raw Material:
- Rendered Meal
Breakup by Production System:
- Commercial Mills
Breakup by Country:
The competitive landscape of the industry has also been examined with some of the key players being Agrosuper S.A., BRF S.A., Cooperativa Central Aurora Alimentos, JBS S.A, Goncalves Tortola S.A., Grupo Pilar S.A., Industrias Bachoco S.A.B. de C.V. and Italcol S.A.
|Base Year of the Analysis
| Historical Period
||US$ Million, ‘000 Tons
||Type, Livestock, Raw Material, Production System, Country
||Brazil, Mexico, Argentina, Colombia, Chile, Others
||Agrosuper S.A., BRF S.A., Cooperativa Central Aurora Alimentos, JBS S.A, Goncalves Tortola S.A., Grupo Pilar S.A., Industrias Bachoco S.A.B. de C.V. and Italcol S.A.
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Key Questions Answered in This Report:
- How has the Latin America animal feed market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the Latin America animal feed market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the livestock?
- What is the breakup of the market based on the raw material?
- What is the breakup of the market based on the production system?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the Latin America animal feed market and who are the key players?
- What is the degree of competition in the industry?