Market Trends of South America Feed Binders Industry
This section covers the major market trends shaping the South America Feed Binders Market according to our research experts:
Expansion in Animal Meat Market
According to the Organisation for Economic Co-operation and Development (OECD), poultry meat is the highest consumed in the country, in 2019 the per capita poultry meat consumption 40.3 Kg as compared to 40 Kg in 2016. Rising meat consumption led to a shift towards commercial livestock production in the country. Due to the increase in the consumption of meat and other animal products in the region, there is an increase in the demand for the quality feed that is fed to animals so as to produce quality meat and to increase productivity. This will thus be driving the feed binders market during the forecast period. According to the Food and Agricultural Organization (FAO), in 2016, South America produced 42.52 million tons of meat that has increased to 46.11 million tons in 2018. Thus the rising production will indirectly create demand for feed binders market in the region.
Brazil Dominating the Market
Brazil is the largest country in South America with a population of 0.2 trillion in 2018. The country is the largest exporter of meat in the region. As per the International Trade Statistics (ITC), Brazil exports 88,169 USD thousand of meat to Argentina in the year 2019. Chile, Uruguay, and Paraguay are largely depending on Brazil for meat. According to the Food and Agriculture Organization, in 2018 the poultry bird population in the country was 1383.4 million as compared to 1505.6 million in 2016. Thus, the mass production of livestock is resulting in higher feed production, and to reduce feed disintegration, the inclusion of binders has become most necessary. According to the Alltech global feed survey, Brazil produces 70 million tons of feed production in the year 2019 of which 32.10 million tons is for broilers, 17 million tons is for pigs, and the rest of it is for cattle's, layer and pets.
