Market Trends of South America Feed Prebiotics Industry
This section covers the major market trends shaping the South America Feed Prebiotics Market according to our research experts:
Rising Feed production Drives the Market
The rising meat consumption has lead to a shift in the mass production of livestock. According to the Food and Agriculture Organisation (FAO) in 2016, the poultry population in Brazil was 1383.4 million which increased to 1505.6 million in 2018. The rising livestock population coupled with the health concern will result in the inclusion of prebiotics in the feed. According to the Alltech feed survey, in 2019 the feed production in Brazil and Argentina has reached 70 million metric tons and 21 million metric tons respectively. In Brazil, broiler feed accounted for 32.1 million metric tons followed by pig feed which accounts for 17 million metric tons. Thus, the growing animal population and increasing compound feed production drive the vitamins market as vitamins are used as feed additives.
Brazil Dominates the Market
Brazil is one of the major countries for feed prebiotics because of increasing meat consumption in the country and large meat export opportunities, especially in the high demand European market. With an increase in per capita income in Brazil, there is an increase in meat consumption, especially poultry and beef meat. According to the Organisation for Economic Co-operation and Development (OECD), in 2019 per capita consumption of poultry meat in the country was 40.3 Kg as compared to 38.3 Kg in 2018.
According to ITC Trade, in 2019 Brazil exported swine meat accounting for USD1,071.5 million as compared to USD 1,471.4 million in 2018. China, Chile, and Russia are some of the major export destinations for Brazil. Regulatory concerns from the European countries are forcing the livestock industry in Brazil to look for better and safe feed raw material and an additive which drives the market for prebiotics.
