Market Research Report
Brazil Feed Additives Market - Growth, Trends and Forecasts (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||392143|
|Published||Content info||120 Pages
Delivery time: 2-3 business days
|Brazil Feed Additives Market - Growth, Trends and Forecasts (2020 - 2025)|
|Published: June 1, 2020||Content info: 120 Pages||
The Brazilian feed additives market is projected to register a CAGR of 5.5%, during the forecast period. Economic growth, the industrialization of the livestock industry, rising farmers' awareness, and government support are the major factors for market attractiveness in this region. Feed additives are products that enhance animal nutrition and are added to animal feed, to provide complete nutrition to farm animals. The end consumers of feed additives are feed mills that manufacture compound feed. The market scope excludes supplements directly purchased by farmers to add to the nutritional qualities of home-grown feed.
Increased Production Of Compound Feed
The market is expected to increase, as the government aims to increase meat exports. The increased consumption of processed meat, after the entry of key meat processors in the region, has also led to a rise in the consumption of compound feed and feed additives. Due to the increased consumer preference for pork meat and increasing industrialization in the livestock industry, the demand for compound feed is also expected to rise. The trend of aquaculture farming is recent in this region. The aquafeed market is estimated to grow, with the rise in the adoption of aquaculture. The recent outbreak of food-borne diseases highlights the need for reducing bacterial pathogens in meat and dairy products. The risk of developing multiple antibiotic resistances in pathogenic bacteria in livestock is expected to enhance the opportunities in the feed additives sector of the country.
Increasing Meat Consumption Is Driving The Market
The feed industry is one of the fastest-growing industries in Brazil, owing to the increasing meat consumption in the country and meat export opportunities. The positive outlook for the crop industry and the high demand for compound feed from the livestock industry provide great leverage for the feed ingredients industry in Brazil. The Brazilian feed additives market is driven by the increase in meat consumption and exports in the country and the rising awareness regarding the quality of meat and dairy products. The industrialization of meat production is also fuelling the demand for feed additives in the country. The rising demand for meat products, expansion of the processed meat industry, and the growth in meat exports are the major demand driving factors in the market.
The feed additives market is highly consolidated, with the top ten companies accounting for more than 50% of the market share. The leading players in the market studied are focused on business expansion. They are targeting countries in South America for business expansion, by either investing in new production units or acquiring established small players in the region. Cargill, Novozymes, AllTech, BASF SE are some of the major players in the country.