Amino Acid Segment has the Largest Share of Product Type in the South and Central America Animal Feed Additives Market during 2020–2028 

According to a new market research study on “South and Central America Animal Feed Additives Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Component, Product Type, Livestock and Country” is expected to reach US$  6,119.64  million, by 2028 from US$  3,970.29 million in 2021. The market is estimated to grow at a CAGR of 6.4% from 2021 to 2028. The report provides trends prevailing in the South and Central America animal feed additives market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to increase use of additives in animal feed, and the high demand for livestock products are the key factors driving the market growth. However, the market is expected to experience slow growth during the forecast period owing to demand for animal feed additives, such as antibiotics.

Brazil has the highest number of COVID-19 cases, followed by Ecuador, Chile, Peru, and Argentina, among others. The government of South and Central America has taken an array of actions to protect their citizens and contain COVID-19’s spread. It is anticipated that South and Central America will face lower export revenues, both from the drop-in commodity prices and reduction in export volumes, especially to China, Europe, and the US, which are important trade partners. Containment measures in several countries of South and Central America will reduce economic activity in the manufacturing and service sectors for at least the next quarter, with a rebound once the epidemic is contained. The region however is expected to witness high growth over forecast period in animal feed additives market due to the inclusion of several highly developing economies. Countries such as Brazil are having a wide presence of livestock industry used for various end uses including food and beverages. Since the demand for livestock in the food and beverages industry is steadily increasing, subsequently the demand for animal feed additives is also expected to grow as the product is highly used in the livestock industry.

The market for South and Central America Animal Feed Additives Market is segmented into the product type, livestock and country. Based on product type, the South and Central America Animal Feed Additives Market is segmented into vitamins, amino acids, carotenoids, enzymes, prebiotics & probiotics, minerals, acidifiers, lipids, and others. In 2021, the amino acids segment accounted for the largest market share. Amino acid segment is dominant because amino acids are building blocks of polypeptides and proteins that are a primary component in animals’ tissues and muscles. They play an important role in metabolic and biochemical processes of an animal which in turn has propelled the demand for amino acids from the animal feed industry. However the aquaculture systems segment is estimated to register the highest CAGR during the forecast period.

Cargill, Incorporated , Archer-Daniels-Midland Company , Evonik Industries AG  , Nutreco N.V , Alltech , DuPont de Nemours, Inc., DSM , Novozymes ,Kemin Industries Inc. Among the leading companies in the South and Central America animal feed additives market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

The market for South and Central America animal feed additives market is segmented into product type, livestock. Based on product type, the South and Central America animal feed additives market is segmented into vitamins, amino acids, carotenoids, enzymes, prebiotics & probiotics, minerals, acidifiers, lipids, and others. Based on end user, the South and Central America animal feed additives market is segmented into poultry, ruminants, swine, aquaculture, and others. By Geographically, South and Central America animal feed additives market is segmented into (Brazil, Argentina and Rest of SCAM).

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