The Argentina animal feed market is expected to grow at a compound annual growth rate of 3.37% over the forecast period to reach a market size of US$6,553.790 million in 2027, from US$5,196.104 million in 2020. Animal Feed comprises such agricultural products that are used to improve animal health and provide them adequate nutrition. Animal feed enhances their immunity and also accelerates the growth and weight of animals.
The major driving factor behind the Argentina Animal Feed market is its increasing meat consumption. Since Argentina is one of the world’s prime beef-consuming nations, its Animal Feed Market is expected to grow by its beef consumption. And not just domestic consumption, but Argentina is also an important beef exporting nation, and these 2 factors are expected to boost up the animal feed market in Argentina in coming years. Besides that, growing awareness regarding animal health and increased focus of people towards animal nutrition and care is also expected to promote market growth. One of the major restraints for the growth of the animal feed market is the increase in greenhouse gas highly attributed by excessive animal feeding to the growing livestock.
Argentina has a history of high meat consumption and its increasing consumption is expected to drive the Animal Feed Market in the coming years. Meat Consumption is related to the livestock production in the economy which thus affects the animal feed market. To serve the increasing animal meat consumption, nations ensure proper nutrients to their animals and thus the role of animal feed becomes important. The consumption of animal-based products like meat, eggs, milk has always remained high in Argentina and this can be witnessed from the high beef, pork, poultry, and sheep meat consumption in the nation. According to OECD Data, Beef and Veal Consumption has always been on the priority list of the nation, surpassing the world and OECD Data both. In 2021, OECD Beef and Veal Consumption stood at 14.41 kilograms/capita, while that of Argentina was at 36.85 kilograms/capita. Pork Meat Consumption is also rising in the nation and crossed the world average in 2019. In 2021, Pork Meat Consumption stands at 11.542 kilograms/capita. Also, poultry meat consumption has increased significantly in the nation over the years currently standing at 38.12 kilograms/capita which is higher than the world and OECD Average each at 14.86 kilograms/capita and 31.82 kilograms/capita respectively.
Besides being a prime consumer of meat, particularly beef in the world, Argentina is also a prime meat exporting economy. According to the data available from National Beef Wire, Argentina stood at 5th position among the top beef exporting nations in 2020, comprising 7.58% of world beef. According to World Top Exports Data, Latin America is the leading exporter of beef based on Continental Segmentation, and in 2020, Argentina comprised 5.4% of total Beef Exports regardless of whether fresh, chilled, or frozen. Its strong performance in beef and meat exportation is expected to not just affect livestock production but also drive up the animal feed market owing to the increased need for nutrition and growth of these animals.
With an increase in livestock production, the greenhouse gas composition has also increased significantly. The growing concerns associated with it also take into the loop the impact of animal feed which can limit its growth in the coming years. Modern agricultural practices like feeding excessively to cows and cattle have had a drastic impact on the environment especially related to high methane released by the animals. This is expected to have some effect on the growth of the Argentina Animal Feed market in the coming years.
Impact of COVID-19 Pandemic:
Coronavirus pandemic had a moderately negative impact on the growth of the Argentina Animal Feed Market. With the horror of disease spreading across the states, the consumption of meat and animal products reduced significantly. Argentina is one of the prime beef consumers in the globe witnessed a downfall in Beef consumption. Owing to the lack of demand, the feed market of the nation got affected. Growing health concerns along with shutting down restaurants, malls, etc. hampered the growth of the market altogether.
|Market size value in 2020||US$5,196.104 million|
|Market size value in 2027||US$6,553.790 million|
|Growth Rate||CAGR of 3.37% from 2020 to 2027|
|Forecast Unit (Value)||USD Million|
|Segments covered||Product Type, Livestock, Raw Materials, And Production Systems|
|Companies covered||Cargill Incorporated, Archer Daniels Midland, Purina Mills LLC (Land O’Lakes), Alltech, Cladan S.A., Adisseo, Alfaban SRL, Eurotec Nutrition Group, BASF|
|Customization scope||Free report customization with purchase|
1.1. Market Definition
1.2. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. ARGENTINA ANIMAL FEED MARKET ANALYSIS, BY PRODUCT TYPE
5.4. Compound Feed
6. ARGENTINA ANIMAL FEED MARKET ANALYSIS, BY LIVESTOCK
6.3. Aquatic Animals
7. ARGENTINA ANIMAL FEED MARKET ANALYSIS, BY RAW MATERIALS
7.3. Rendered Meal
8. ARGENTINA ANIMAL FEED MARKET ANALYSIS, BY PRODUCTION SYSTEMS
8.2. Commercial Mills
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.1. Cargill Incorporated
10.2. Archer Daniels Midland
10.3. Purina Mills LLC (Land O’Lakes)
10.5. Cladan S.A.
10.7. Alfaban SRL
10.8. Eurotec Nutrition Group
Archer Daniels Midland
Purina Mills LLC (Land O’Lakes)
Eurotec Nutrition Group
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