According to the latest report by IMARC Group, titled “Latin America Animal Feed Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The latin america animal feed market is expected to exhibit a CAGR of 3.6% during 2022-2027.
Animal feed is an edible material made with high nutritional products, such as hay, silage, legumes, and sprouted grains, for maintaining the healthy growth of livestock and poultry. It is a rich source of minerals, proteins, fibers, acidifiers, enzymes, antioxidants, antibiotics, and carbohydrates. It is widely used across Latin America to improve life processes and maintain muscular activity among domestic animals, aquatic animals, ruminants, and swine.
In recent years, the cases of lifestyle-related metabolic diseases, such as obesity, hyperlipidemia, and diabetes mellitus, have increased in animals of the Latin American region. As these diseases can be transmitted to human beings, the increasing consumption of meat and other animal products and the rising awareness of food safety represents one of the key factors driving the market in the region. Apart from this, the growing consumer awareness about genetically modified organisms (GMO) is catalyzing the demand for healthier foods, which, in turn, is significantly influencing the adoption of non-GMO animal feed across the region.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Competitive Landscape with Key Player:
- 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.
- Italcol S.A.
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:
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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