Market Trends of South America Swine Feed Industry
This section covers the major market trends shaping the South America Swine Feed Market according to our research experts:
Increasing Pig Stocks in the Region
Among the South American countries, Brazil leads to pig production. According to FAO, Brazil's pig stocks went up from 40 million heads in 2016 to 41.4 million heads in 2018. Also, Argentina's pig stocks increased from 5.1 million heads in 2016 to 5.6 million heads in 2018. Pork is cheaper than other meat sources which are a major factor for its high consumption. In Addition, its palatability, fat content, and texture fascinates the consumer. A large middle-class population and changing consumer preference are levitating the pork demand. Thus increased popularity of pork meat in the region is likely to drive the market for swine feed in the forecast period.
Brazil has the Largest Market for Swine Feed in the Region
Among the South American countries, Brazil is not only the leading producer but also the leading exporter of live swine. Since pig meat quality is a major criterion in determining export value, Brazilian farmers prefer high-quality feed for growing their pigs. Export value increased from USD 4.2 million in 2017 to USD 6.5 million in 2019, as per ITC Trade Map. Rice bran, broken rice, maize, soya beans, cassava, and vegetables are commonly used in pig feed ingredients in the country. Export of swine is a significant part of the economy in the country and thus, investment of swine feed for producing high-quality hog can be expected to increase further during the forecast period.
