The Mexico feed additives market size is projected to register a CAGR of 4.6% during the forecast period, 2021–2028. The growth of the market is attributed to increasing per capita meat consumption and rising farmers’ awareness.
Feed additives are consumed by animals to improve their strength and performance. The COVID-19 pandemic has posed a major medical, social, and economic concerns. Whereas the medical community is focused on producing effective diagnostic & medical treatments, the feed sector is focused on generating healthy products for animals that employ animal feed additives to battle illnesses by providing immunological support.
The Mexico feed additives market is expected to grow at a healthy rate during the projected period due to growing requirement for animal protein sources such as meat, milk, and eggs puts pressure on the livestock business to expand production to keep up with demand. Growing industrial production of meat & dairy products and demand for high-quality compound feed from the livestock sector have resulted in increased usage of compound feed and feed additives in the nation. According to the Alltech feed study, Mexico produced 34.6 million metric tons of compound feed in 2018 and is on track to produce 36.2 million metric tons in 2019.
The feed business competes with the food sector for raw ingredients in this scenario. As the requirement for raw materials in the country grows, this condition has created a desire for cost-effective additives. To maintain a consistent supply of high-quality meat, dairy, and derivative goods, home mixers and big farm owners feed additives to the cattle.
Market Trends, Drivers, Restraints, and Opportunities
- Rising demand for livestock-based products is projected to drive the market growth.
- Rapid growth of the poultry industry is estimated to fuel the growth of the feed additives market.
- Maize, barley, and soybeans, which are utilized in compound feed manufacturing, are also used for human consumption and ethanol generation in the nation. Thus, such factor is anticipated to spur the market.
- Growing raw material prices can hamper the market.
- Stringent rules for waste biomaterials and wastewater treatment can hamper the market.
- The shift from synthetic growth promoters and movement toward natural growth is expected to create lucrative opportunities for key players.
Scope of the Report
The report on the Mexico feed additives market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Feed Additives Market - Mexico Industry Analysis, Growth, Trends, and Forecasts
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Base Year
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2020
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Historic Data
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2018-2019
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Forecast Period
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2021-2028
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Segmentation
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Additive Type (Antibiotics, Vitamins, Antioxidants, Amino Acids, Enzymes, Mycotoxin Detoxifiers, Prebiotics, Probiotics, Flavors & Sweeteners, Pigments, Binders, and Minerals) and Animal Types (Ruminants, Swine, Poultry, and Others)
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Country Scope
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Mexico
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Helm de Mexico.; Alltech.; Cargill Inc.; BASF SE.; and Adisseo
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Mexico Feed Additives Market Segment Insights
Poultry segment is expected to grow at a rapid pace
Based on animal types, the Mexico feed additives market is divided into ruminants, swine, poultry, and others. The poultry segment is expected to grow at a rapid pace during the forecast period due to increasing consumption of chicken meat and egg for feed in Mexico. Consumer dietary tastes have changed as a result of rapid urbanization and rising disposable money, resulting in higher per capita intake of meat and seafood in the country. The swine segment is estimated to grow at a steady rate in the coming years. Increasing demand for high-quality pork products is fueling the segment growth.
Amino acids segment is projected to expand at a high CAGR during the forecast period
On the basis of additive types, the market is segregated into antibiotics, vitamins, antioxidants, amino acids, enzymes, mycotoxin detoxifiers, probiotics, flavors & sweeteners, pigments, binders, and minerals. The amino acids segment is projected to expand at a high CAGR during the forecast period. Amino acids are the building blocks of protein and polypeptides, and they play a key role in animal muscle and tissue development.
Segments
The Mexico feed additives market has been segmented on the basis of
Additive Types
- Antibiotics
- Vitamins
- Antioxidants
- Amino acids
- Enzymes
- Mycotoxin Detoxifiers
- Prebiotics
- Flavors & Sweeteners
- Pigments
- Binders & Minerals
Animal Types
- Ruminants
- Swine
- Poultry
- Others
Country
Key Players
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