Home » Rising Demand for Animal Protein Drives Growth in South American Animal Feed Market
Business Featured Global News News South America

Rising Demand for Animal Protein Drives Growth in South American Animal Feed Market

According to the report, the South American animal feed market is expected to expand at a CAGR of 2.70% during the forecast period, growing from an estimated value of US$32,185.975 million in 2021 to reach US$38,774.486 million by 2028.

The South American animal feed market plays a vital role in supporting the region’s thriving livestock sector. With its rich biodiversity and abundant natural resources, the region is well-positioned for producing high-quality animal feed products.

The industry is characterized by intense competition, with both local and international players vying for a larger market share.

This competitive landscape has driven continuous improvements in product quality and the adoption of innovative technologies to enhance animal health and productivity. The main objective of the animal feed industry is to provide nutritious and cost-effective feed products to meet the growing demand for animal protein.

The rising population in South America, coupled with increasing income levels, has led to a surge in the consumption of meat and dairy products, driving the demand for animal protein. As a result, there is a growing need for high-quality animal feed to support the livestock production in the region.

The South American animal feed market’s growth has also attracted significant investment from foreign companies looking to tap into the region’s growing demand for these products.

For instance, the Innovative Finance for the Amazon, Cerrado, and Chaco (IFACC) pledge has planned to invest $1 billion in sustainable soybean and cattle farming in threatened South American ecosystems without deforestation by 2025.

This initiative offers attractive financing options to farmers who commit not to engage in deforestation or the conversion of forested land. With the total commitments under IFACC amounting to $4.3 billion, 15 companies have already joined the initiative, with optimistic expectations to achieve their $1 billion goal by 2025.

During the forecast period, Brazil is expected to hold a significant share of the South American animal feed market.

The country boasts a thriving livestock industry, with substantial beef, poultry, pork, and dairy production.

The increasing demand for animal protein, including meat, milk, and eggs, has driven the need for high-quality animal feed to support the growth and productivity of livestock. Moreover, the Brazilian government’s initiatives and policies that support the agriculture and livestock sectors further contribute to the growth of the animal feed market. Initiatives such as the AgroNordeste Program aim to foster the development of agriculture and livestock production in Brazil’s Northeast region.

The “Dietary Supplements Market – Forecasts from 2023 to 2028” report provides comprehensive and latest market information to executives and stakeholders, analyzing the competitive landscape and strategies of key market players in the animal feed industry. The report also presents in-depth information on market trends, analysis, and graphical representation, segmented by age group, usage, type, sales channel, and geography.

Companies Mentioned

  • Cargill Incorporated
  • Amandus Kahl GmbH & Co
  • Andritz AG
  • Alltech Inc
  • Novus International Inc.
  • Archer Daniels Midland Company
  • Tyson Foods
  • Purina Animal Nutrition (Land O’Lakes)
  • Hi-Pro Feeds
  • Kent Nutrition Group
  • De Heus

Source : Business Wire