AI Analysis: Key Insights from the Press Release
Show Key InsightsMarket Size (2022): US$ 1,107.55 Mn
Forecast Market Size (2030): US$ 1,557.90 Mn
CAGR (2023–2030): 4.4%
Primary Growth Drivers: Increase in demand for animal feed supplements, Growth in the global livestock and poultry industry
Key Trends: Focus on animal health and nutrition, Trends in feed premix formulations to support the growing livestock industry
Growth Opportunities: Growth in animal husbandry and livestock farming, Expanding market for feed premixes as part of a growing animal nutrition sector
Base Value (2022)
US$ 1,107.55 Mn
Projected (2030)
US$ 1,557.90 Mn
CAGR (2023-2030)
4.4%
At 4.4% CAGR, South & Central America Feed Premix Market is Projected to be Worth US$ 1,557.90 Million by 2030, Says The Insight Partners
According to The Insight Partners' research, the South & Central America feed premix market was valued at US$ 1,107.55 million in 2022 and is expected to reach US$ 1,557.90 million by 2030, registering a CAGR of 4.4% from 2022 to 2030. Growing demand for feed premix from developing countries and rising preference for organic feed are among the critical factors attributed to the South & Central America feed premix market expansion.
The main causes of the rising demand for feed premixes in developing countries have been population growth, urbanization, and a rise in wages in developing countries. According to the Feed Industry Federation (FIF), compound feed production has reached 1000 million tons annually. This growth in production rate is particularly higher in developing countries than developed countries. Modernizing livestock farms in developing regions to meet the growing demand for animal protein aids the South & Central America feed premix market. Thus, the rising demand for feed premixes from developing countries is expected to provide a huge opportunity for the market growth.
On the contrary, bans on antibiotics as feed additives hampers the growth of South & Central America feed premix market.
Based on type, the South & Central America feed premix market is segmented into vitamins, minerals, amino acids, antibiotics, antioxidants, blends, and others. The blends segment held 37.3% share of the South & Central America feed premix market in 2022, amassing US$ 412.83 million. It is projected to garner US$ 591.70 million by 2030 to expand at 4.6% CAGR during 2022-2030.
By form, the South & Central America feed premix market is bifurcated into dry and liquid. The dry segment held 69.9% share of the South & Central America feed premix market in 2022, amassing US$ 773.67 million. It is projected to garner US$ 1,099.83 million by 2030 to expand at 4.5% CAGR during 2022-2030.
By livestock, the South & Central America feed premix market is segmented into poultry, ruminants, swine, aquaculture, and others. The poultry segment held 46.9% share of the South & Central America feed premix market in 2022, amassing US$ 519.46 million. It is projected to garner US$ 745.82 million by 2030 to expand at 4.6% CAGR during 2022-2030.
Based on country, the South & Central America feed premix market is segmented into Brazil, Argentina, Chile, Colombia, and the Rest of South & Central America. Brazil held 52.5% share of South & Central America feed premix market in 2022, amassing US$ 581.35 million. It is projected to garner US$ 806.84 million by 2030 to expand at 4.2% CAGR during 2022-2030.
Key players operating in the South & Central America feed premix market are Agrifirm Group BV, Archer-Daniels-Midland Co, Cargill Inc, De Heus Voeders BV, Kemin Industries Inc, Koninklijke DSM NV, and Nutreco NV, among others.
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