The Market Insights Reports has added a new statistical data to its repository titled as, Mexico Compound Feed Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on recent developments and technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries.
The Mexico compound feed market is projected to register a CAGR of 3.5% during the forecast period.
According to a survey conducted by the National Institute of Statistics and Geography (INEGI), the annual production value of animal feed manufacturing in the country has significantly increased by USD 4.1 billion in 2017. This growth is strongly driven by the growing pig, cattle, and poultry sector in the country. Poultry is the most developed animal feed livestock subsector in Mexico, driven by high demand for poultry meat and eggs. According to the Mexican feed industry, 40 million metric tons of feed were produced in 2018, about 55% of which was used by the poultry industry. For every million metric tons of chicken meat produced, 72.5% of the cost involved is from the feed. The animal feed is the crucial component in the production of eggs, with 63% of share in the cost of eggs.
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Top Key Players in the Mexico Compound Feed Market are Alltech, Cargill, Kent Nutrition Group, Land O’Lakes, Purina Animal Nutrition, Tyson Foods (broiler), Smithfield Foods, Industrias Bachoco, and J.D. Heiskell & Co, and others.
Key Market Trends:
Industrialization of Livestock Sector
The per capita consumption of red meat and poultry products has increased rapidly, as it is actively considered as an important source of nutrition/protein by the consumers under different demographics, thus, resulting in increased production of meat products. According to a survey conducted by OECD_FAO, meat production increased from 317.17 million metric tons in 2016 to 327 million metric tons in 2018._ In response to globalization and the rising demand for animal-sourced foods, the global livestock sector attained a strong growth in the past, in both developed and developing nations. For instance, according to FAO, from 2016 to 2018, the production of live chicken increased by approximately 4% (22,826,754 in 2016 to 23,707,134 in 2018) across the world._ This, in turn, has paved a significant opportunity for the manufacturers to use compound feed, in order to optimize their livestock production in a sustainable manner and meet the burgeoning demand from both the meat and dairy industries from different countries around the world.
Increased Consumption of Animal Protein
In developed countries, priority is given to convenience and variety, and most of the fish for human consumption are processed. The Food and Agriculture Organization (FAO) estimates that the demand for food will grow by 60% between 2010 and 2050. Furthermore, it also estimated that the production of animal proteins is projected to grow by around 1.7% per year, with meat production projected to rise by nearly 70%, aquaculture by 90%, and dairy by 55%. According to the United States Department of Agriculture, the consumption of meat products in Mexico increases significantly year after year from 8.13 million metric tons in 2016 to 8.65 million metric tons in 2018. Based on the AllTech feed survey, Mexico as of 2019 has a total of 547 mills and is estimated to produce feeds of 36.2 million metric tons and the poultry segment accounts for the highest amount of feed produced.
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Highlights of TOC:
Market Overview: It starts with product overview and scope of the Mexico Compound Feed market and later gives consumption and production growth rate comparisons by application and product respectively. It also includes a glimpse of the regional study and Compound Feed market size analysis for the review period 2015-2025.
Company Profiles: Each company profiled in the report is assessed for its market growth keeping in view vital factors such as price, Compound Feed market gross margin, revenue, production, markets served, main business, product specifications, applications, and introduction, areas served, and production sites.
Manufacturing Cost Analysis: It includes industrial chain analysis, manufacturing process analysis, the proportion of manufacturing cost structure, and the analysis of key raw materials.
Market Dynamics: Readers are provided with a comprehensive analysis of Compound Feed market challenges, influence factors, drivers, opportunities, and trends.
Market Forecast: Here, the Compound Feed report provides consumption forecast by application, price, revenue, and production forecast by product, consumption forecast by region, production forecast by region, and production and revenue forecast.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides Mexico and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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