Feed premix is a mixture of nutritional supplements such as vitamins and minerals, that are usually combined with a carrier and ready for mixing with feed. In poultry, it improves egg production in layers and fat in broilers. Manufacturers supply premixes to ensure uniform supply of nutrients to the animals and enhance the quality and productivity of the animal.
According to the report Latin America feed premix market, published by Market Data Forecast, the Market has been estimated at USD 12.83 Billion in 2016 and is projected to reach USD 15.53 Billion by 2021, at a CAGR of 3.9% during the forecast period from 2016 to 2021.
The shift in consumption pattern from red meat to white meat especially in developing countries of Latin America is leading to increase in demand for poultry meat. This factor is driving the market for compound feed which will in turn drive the market for feed premixes.
But the market is highly constrained by the increasing costs of raw materials and government regulations over the pricing of products.
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The Latin America feed premixes market is segmented into ingredient type and livestock. Each of the segments is further subdivided into various segments as follows: Ingredient type: Vitamins, Minerals, Amino acids, Antibiotics and Other ingredients (Preservatives, organic acids, antioxidants, enzyme, pigments, and flavors) and Livestock: Poultry, Ruminants, Swine, Aquatic animals and other animals that include pet animals, birds, and reptiles.
By type, Vitamins are the most widely used premix. The demand for feed premixes in poultry industry accounted for the largest share and is projected to be the fastest-growing segment.
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On geographical basis, Latin America Feed premix market is segmented into: Brazil, Argentina and Rest of Latin America. Brazil is the largest market within this area and it is also a major exporter of meat to Unites states.
South America, dominated by Brazil and Chile, may witness increase in product consumption owing to rise disposable income coupled with growth of aquaculture industry.
Leading players in the Latin America feed premix market are Cargill, Koninklijke DSM N.V., Nutreco N.V., Archer Daniels Midland Company, and InVivo Nutrition et Sante Animales. Existing companies such as DSM and Nutreco have been actively involved in acquisition of regional suppliers and ingredient manufacturers in these regions to strengthen their market presence.
Key strategies are being employed by major companies in developing markets of Latin America through the expansion of manufacturing plant capacities to meet the growing feed premix demand.
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