Latin America Animal Feed Market - Industry Size, Opportunity, Growth, Demand, & Forecast To 2027

Animal feeds are important source of nutrients for animals. Animal feeds are food items grown or produced for consumption of livestock. The animal feed industry encompasses various sectors such as poultry, aquaculture and cattle. As one human needs, vital and crucial nutrients for development and growth of their body, animal’s even needs nutrients for their livelihood and growth. Different types of feeds are available in the market sourced from plants, animal meat, organic or inorganic substances. From last few years, protein-based feeds have increased awareness and importance among the minds of farmers farming for livestock and animal feed. Changes in lifestyle and awareness of animal based protein products have increased the demand for animal feed. The animal feed industry is wearing a substantial growth potential in the market owing to increased consumption of animal based products, rising livestock population, and increase in domestic consumption. According to the research report “Latin America Animal Feed Market Outlook, 2027" published by Actual Market Research, animal feed requires large and plentiful amount of protein feeds. Latin America is the fastest enlarging market for Animal feed. It is estimated to grow with CAGR of 3.21% for the forecasted period. Currently, Brazil is the leader of Latin American market holding more than 40% in the animal feed market. The animal meat sourced market in Brazil is also dominating as they are leading meat producers in the world. A great portion of animal feed is expected to grow by Pig feed which will witness increase in consumption due to growth of pig meat production. Change in lifestyle of consumers and urbanization have resulted in preference towards meat and other animal products. Colombia exports its poultry meat to countries such as China, & Thailand. The demand for protein-rich feeds is rising in all over Latin America. With ban on use of antibiotic growth promoters of meat and antimicrobials coupled with increased frequency of meat related disease outbreaks such as swine flu, is driving demand for quality and safe meat products with high nutritional value which in turn expected to raise the animal feed market. Expansion of urbanization, increase in preferences of processed foods and use of animal feeds additives to improve feed utilization are expected to boost demand for animal feed additives in Latin American region during the forecast period. The severe covid-19 pandemic compelled the implementation of preventive measures that drastically altered the status of animal feed industry and negatively impacted the growth of animal feed market. Covid-19 had adversely impacted the availability of raw materials necessary for manufacturing of animal feed. The availability in most countries has become quite difficult due to shutting down of feed plants. The consumption of meat and every other animal feed has been badly affected due to closure of every kind of transportation services. Since, the pandemic is getting off slowly; the demand for animal feed is on the way to rise. Investments by prominent manufacturers are expected to drive the industry of animal feed market. Major Companies present in the market: Cargill Inc., Guangdong Haid Group, Chareon Pokphand Foods, For Farmers, New Hope Liuhe Co Ltd, Archer Daniels Midland Co, Feed One Co, Ltd, Alltech Inc, Nutreco N.V, Kent Nutrition Group Considered in this report: • Geography: Latin America • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • Latin America animal feed market with its value and forecast along with its segments • Country-wise animal feed products market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Countries covered in the report: • Brazil • Argentina • Columbia • Rest of Latin America Types of feed ingredients in the report: • Cereals • By-Products • Cakes & Meals • Supplements Types of feed by livestock in the report: • Cattle Feeds • Poultry Feeds • Pig Feeds • Aqua Feeds Types of feed by form in the report: • Pellet • Mash • Crumbles • Cubes & Cakes The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Animal Feed Industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.