The Latin America Liquid Feed Supplements Market was valued at USD 310.4 million in 2016 and is expected to show a CAGR of 5.45%, to reach USD 504.71 million by 2021.
The market is predicted to show significant growth during the mentioned forecasting period. It continues to expand along with the development in the animal healthcare sector.
Liquid feed supplements are the food additives which constitute protein, minerals and other nutritional substances required by animals. Liquid feed supplements are mixed along with the daily diets of pigs, cows, bulls, chickens and aquatic animals.
They are mostly attached to the molasses which act as carrier substances for the provision of energy to the animals and also enhance the palatability of food.
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The major drivers for the growth of Latin America Liquid Feed Supplements Market are the growing population, increased meat consumption, developing economy, growing awareness regarding meat quality and increasing usage of animal products like leather, milk,. The factors restraining this market majorly include strict regulations imposed by governments and private agencies as well as lack of awareness among people.
The Latin America Liquid Feed Supplements Market is categorized on the basis of Type into Protein, Minerals, Vitamins and Others. Based on Source, the market is classified as Molasses, Corn, Urea and Others.
In this classification, the Molasses segment has the largest share among all others. On the basis of Livestock, the market is segmented as Ruminants, Poultry, Swine, Aquaculture and Others.
The ruminants segment holds the highest share and has the highest demand for liquid feed additives because of rising meat consumption lately.
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On the basis of geography, the market is analysed under the regions Brazil, Argentina, Mexico and other countries of South America. These are emerging countries and are undergoing significant development in the animal healthcare sector.
The growing population and rising disposable income has led to the increased consumption of meat and other animal products. Thus, the market has shown substantial growth in the past few years and will continue to grow in the future.
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Some of the major companies dominating the market, by their products and services are Cargill Inc., Wesway Products, Cattle-Lac Liquid feed and Midwest liquid feeds.
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