Latin America Animal Feed Market Outlook Report - Market Size, Share Analysis and Forecast (2025-2034)

The Latin America animal feed market reached approximately 193.18 Million Tons in 2024. The market is projected to grow at a CAGR of 1.70% between 2025 and 2034, reaching a volume of around 228.65 Million Tons by 2034.

Latin America Animal Feed Market Growth

Rising demand for meat and dairy products, advancements in feed production techniques, and growing usage of organic feed are some of the key factors propelling the growth of Latin America animal feed market. The usage of high-yield crop varieties and improved farming techniques have increased the efficiency and affordability of feed production.

Furthermore, with the increasing costs of traditional feed ingredients such as corn and soy, there has been a shift towards alternative options like insect meal, algae, and by-products from the food and biofuel sectors. These substitutes are not only cost-effective but also contribute significantly to the trend of sustainability. The usage of innovative technologies such as precision feeding systems and IoT-enabled smart feeding equipment, is also becoming very common in the market as these advancements aid in enhancing feed utilisation and boosting the growth of the livestock.

Key Trends and Recent Developments

The growing consumption of poultry products, rising fish exports, increased production of broiler feed, and enhanced pet food consumption are accelerating the Latin America animal feed market value.

June 2024

The International Finance Corporation (IFC) announced an investment worth USD 2 million in ProNuvo, a Costa Rica-based animal feed company, specializing in producing insect-based animal feed. The funding was meant for the company's construction of a brand-new insect feed plant with a capacity to produce 4000 metric tonnes of feed additives in a year.

March 2024

Uruguay-based Feedlatina announced its association with global institutions such as the Food and Agriculture Organization, the International Feed Industry Federation (IFIF), the World Organization for Animal Health, and ALA, among others. The association aimed to promote the development, harmonisation and maintenance of regulatory frameworks that guarantee free trade in the animal nutrition market, based on quality, safety and food security.

May 2023

NUQO, a leading supplier of animal feed in Latin America, announced the establishment of its affiliate in Mexico, namely, NUQO Feed Additives Mexico. The affiliate was made responsible for promoting and distributing its feed additive products in Mexico and surrounding countries, thereby achieving its long-standing objective of global expansion and network building.

September 2022

The Victam Corporation, a Bangkok-based organizer of educational campaigns and events for the animal feed industry, introduced its business in Latin America. The first events it organized in the region included VICTAM LatAm from October 3 to 5, 2023, GRAPAS LatAm, and GEAPS.

Growing Poultry Consumption Propelling the Growth of the Latin America Animal Feed Industry

The increasing meat consumption is a key driver for the growth of the poultry farming industry, a major source of animal feed consumption in Latin America. The industry demands high-quality feed for a range of poultry animals including chicken, pigs, cows, sheep, goats, and veils. Moreover, the Food and Agriculture Organisation (FAO) has projected that meat consumption in the region will grow by 12% between 2021 and 2030, which is expected to provide a major boost to the Latin American animal feed market.

Rising Fish Exports Increasing the Overall Latin America Animal Feed Market Revenue

Latin America is majorly a coastal region, known for fish production and exports around the world, resulting in an increased aquafeed demand for its fisheries and aquaculture farming sectors. The feed to be consumed is expected to have high nutritional value, sourced from quality and sustainable ingredients. According to the World Bank, the fish supply in Latin America is expected to reach 21,829,000 tonnes by 2030, immensely benefitting exporters, domestic traders, and the region's animal feed market.

Increasing Production of Broiler Feed Aiding Market Expansion for Key Players

Broiler feed is a specific animal feed served to broiler chickens in poultry farming businesses. According to Alltech, a pioneer in animal nutrition within the Latin American region, broiler feed production increased by 1.27% between 2021 and 2022, reaching an absolute value of 67.5 million tonnes in the latter year. Moreover, Latin America accounted for 18.5% of the world's broiler feed production in 2022. These values are expected to grow in the coming years owing to the increased chicken meat consumption, producing new market expansion opportunities for key industry players.

Enhanced Pet Food Production Increasing the Animal Feed Consumption in Latin America

The growing pet culture is leading to an increased supply of pet food in Latin America. According to industry reports, the region witnessed the highest growth in pet food producers among all American countries. Moreover, the production was estimated to grow to 8.863 million metric tonnes in 2022, from 7.434 million metric tonnes in 2021, a 19.22% year-on-year increase. As pet adoption in Latin America grows further, the demand for pet food is expected to rise, thereby fuelling the animal feed market revenue in the region.

Latin America Animal Feed Industry Segmentation

“Latin America Animal Feed Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Fodder and Forage
• Compound Feed

Market Breakup by Livestock

• Pork
• Aquatic Animal
• Cattle
• Poultry
• Others

Market Breakup by Raw Material

• Soy
• Corn
• Others

Market Breakup by Country

• Brazil
• Mexico
• Argentina
• Others

Latin America Animal Feed Market Share

Based on livestock, the market is divided into pork, aquatic animal, cattle, and poultry, among others. Poultry accounts for a substantial market share as the Latin American region has a strong preference for poultry meat due to its affordability and cultural acceptance, making it one of the most consumed animal proteins in the region. This high demand for poultry meat supports a thriving domestic market for poultry feed, boosting the segment expansion in the region.

Leading Companies in the Latin America Animal Feed Market

The market participants are expanding their production capacities to meet the growing demand in the region.

• Alltech Inc.
• Archer-Daniels-Midland Company
• Cargill, Incorporated
• Nutreco N.V.
• BRF S.A.
• Guabi Nutrição e Saúde Animal S.A.
• De Heus Voeders BV
• JA Teixeira Veterinária Ltda.
• ITALCOL S.A.
• Contegral SAS
• BioMar Group
• Others