South America Feed Palatability Enhancers Market Expected to Rise at A Higher CAGR Value

The South America Feed Palatability Enhancers Market is projected to register a CAGR of 5.2% during the forecast period(2020-2025). The rise in meat consumption in the region, increased awareness among farmers about scientific methods of feeding, the growing trend of commercial production, and an attractive export market is driving the meat production. The end consumers are compound feed manufacturers, integrators, farmers, home-mixers, livestock, and aquaculture industry. Additionally, compound feed production in the country is increasing which will further develop the market for palatability enhancers as it masks the unpleasant taste. These help to improve the rate of weight gain, prevent diseases in animals, prevent vitamin deficiencies, and improve feed digestion and conversion. Some of the notable players are DuPont de Nemours, Inc., Pancosma, Kerry Inc., Symrise, Adisseo, Elanco, Kent Nutrition Group, Grupo Diana, and others.

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Key Market Trends

Rising Demand for Animal Sourced Proteins

Economic growth and lower inflation will lead to an increase in income and thus, fuel growth in the consumption of meat and other products. According to the Organisation for Economic Co-operation and Development(OECD), in 2019 per capita poultry meat consumption in Brazil was 40.3 Kg as compared to 40Kg in 2016. Also in Argentina, beef and veal meat is the most consumed which amounted to 39.7 Kg in 2019 as against 39 Kg in 2016. In addition to meeting the domestic meat consumption, brazil is also one of the leading exporters of beef meat for instance, according to ITC Trade, in 2016 export of bovine meat accounted for USD 757,207 thousand that has increased to USD 880,818 thousand in 2019. Also, Argentina exported bovine meat worth USD 600,566 thousand in 2016 that has constantly risen to reach USD 771,875 thousand in 2019. Thus the rising domestic meat consumption coupled with the attractive meat export market is driving the meat production in the region which impacts the feed intake by the livestock positively to increase the yield. Thus, in order to improve the feed intake palatability enhancers are included in the feed.

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Christophe Rude

Christophe Rude

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