South America Feed Premix Market - Segmented by Ingredients, Composition, Animal Type and Geography - Growth, Trends and Forecasts (2017 - 2022)
South America is the potential market for feed premix manufacturers. The market was worth around $612.40 million in 2013 and is expected to grow at the CAGR of 2.8% during the forecast period.Brazil which is one of the largest compound feed producer accounts for more than 60% of the premix market share in the region. The increasing demand for high quality meat from meat processing industry is expected to exert pressure on farmers and meat manufacturers to use high quality feed, thereby increasing demand for feed additives and premixes. Argentina provides an opportunity to the producers as the government is focussed on increasing beef exports and gaining the top spot among the beef exporting countries. Other important driving factor in the region is adoption of intensive farming system. Chile which is one of the major aquaculture producers is expected to exhibit the fastest growth rate during the forecast period. Cattle feed and swine feed are the largest consumer of feed premixes. The fish feed industry is estimated to show a healthy CAGR with the expansion of aquaculture industry. The key players are acquiring the local manufacturers to enter in the market. Product line expansion is another strategy adopted by the established players to maintain market share.