28 Mar Latin America Feed Antioxidants Market Projected To Reach US$ 60.3 Mn By 2023, Growing Animal Rearing and Livestock Production Expectd to Propels the Market Revenue Growth
“The Latin America Feed Antioxidants Market poised to reach US$ 60.3 Mn by 2023 with CAGR of 4.2% over six years forecast period 2017-2023 owing to increased surge in the trend towards compounded feed.
Precision Business Insights (PBI) in its report titled “Latin America Feed Antioxidants Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2012-2016 and Forecast 2017-2023” assesses the market performance over six years forecast period over 2017-2023. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
The Latin America Feed Antioxidants market was valued at US$ 45.4 Mn in 2016 and projected to reach US$ 60.3 Mn by 2023 owing to growing production and consumption livestock products and increase in farming activities across the region, increase in per capita meat consumption, rapid increase in meat industry is expected to enhance the livestock production. Rising awareness of qualitative feed for the livestock anticipated to increase the market for feed antioxidants over the forecast period.
Latin America Feed Antioxidants market segmented on the basis of antioxidant type, feed type and geography
Improving vertical integration and geographic presence through acquisition
In Latin America region companies are expanding their market presence by acquiring regional market players and improving vertical integration to secure the supply contracts. This has been helping the acquirers to devise the regional strategies for effectively managing the sales and operations.
Brazil is the largest market in Latin America Feed Antioxidants market owing to the Growing trade of meat and livestock animals
PBI’s Latin America Feed Antioxidants market report analyses the market in different geographies such as Brazil, Mexico, Argentina, Venezuela, and Rest of Latin America. According to regional analysis, Brazil accounted for larger revenue share through 2012-2016 and the same trend is projected to follow over 2017-2023. Mexico region projected to exhibit highest growth among all regions owing to growing animal rearing and livestock production.
Product Launches, M&A, Partnerships, and collaborations are the key strategies adopted by market players
Latin America Feed Antioxidants market further reveals that the key players increasingly adopting M&A, Partnerships, and collaborations strategies to improve economies of scale by increasing manufacturing capacities and gaining significant geographic presence across the regions. For instance in 2016, Alltech, a global leader in animal health and nutrition, has signed six research alliances in Latin America with four universities and two institutes linked to agricultural research from Brazil, Honduras and Mexico and in 2016, Camlin Fine Sciences acquired 65% stake in Dresen Quimica for a consideration of 7.8 Mn. Dresen is a leading Central American company engaged in the research, development, manufacture and sale of specialty chemicals. As Dresen uses the raw materials; the acquisition helps Dresen to secure raw material and secures supply contracts for CFS
Key player’s profiles in the report are Kemin Industries, Inc. (U.S.), BASF SE (Germany), Archer Daniels Midland Company (U.S.), Cargill Inc. (U.S.), Nutreco N.V. (Netherlands), Alltech Inc. (U.S.), Novus International (U.S.), Perstorp Holding AB (Sweden), Adisseo France S.A.S. (France), Oxiris, and Dupont Nutrition And Health (Danisco) (Denmark).
By Antioxidant Type
- Rosemary Extract
- Gallic Acid
- Oil Seeds
- Synthetic antioxidants
- Vitamin E
- Propyl Gallate
By Feed Type
- Broilers Pre-starter Feed
- Piglets Pre-starter Feed
- Cattle Pre-starter Feed
- Aqua Pre-starter Feed
- Pet Food
- Cattle Feed
- Poultry Feed
- Aqua Feed
- Pig Feed
- Feed Premixes
- Raw Material
- Latin America
- Rest of Latin America