Market Trends of South America Feed Antioxidants Industry
This section covers the major market trends shaping the South America Feed Antioxidants Market according to our research experts:
Increasing Meat Consumption Drives the Market
The animal production industry in South American countries is largely driven by meat consumers. Demand for healthy meat has been continuously increasing in South America for the last few years. For example, The meat consumption demand was recorded as 2.39 million metric tons in 2017 increasing to 2.47 million metric tons in 2018. Therefore, a climbing meat consumption demand is anticipated to boost the feed antioxidants sales in the coming years.
Brazil Dominates the Market
Brazil holds more than half of the feed antioxidants market share in South America. Well developed animal production industry with huge meat consumption demand determines the feed antioxidants market. The country has one of the largest cattle farming industry with 232 million heads of cattle in 2019. The meat consumption demand was recorded as 19.91 million metric tons in 2017 growing to 20.26 million metric tons in 2018. The increasing animal production industry coupled with the huge domestic consumption demand is anticipated to boost the feed antioxidants market in Brazil.
