Peru Animal Feed Market Share, Size, Gorwth and Forecast 2022-2027
An increasing number of various product launches for livestock animals is expected to drive the growth of Peru animal feed market
According to TechSci Research report, “Peru Animal Feed Market By Type, By Livestock, By Raw Materials, By Distribution Channel, By Region, Competition, Forecast & Opportunities, 2027” the Peru animal feed market is expected to grow at a steady rate during the forecast period owing to the adoption of new feed manufacturing technologies and increasing investment in the livestock market.
However, high import duties on feed ingredients, vague regulatory regimes, volatility in raw material prices, and frequent disease outbreaks, among others can hamper the growth of the market during the forecast period.
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Additionally, the high price of non-GMO animal feed, the development of clean meat products, and the growing consumer inclination towards vegan food can further restrict the growth of the market during forecast years.
The Peru animal feed market is segmented based on type, livestock, raw material, distribution channel, company, and regional distribution. Based on livestock, the market can be categorized into swine, aquatic animals, cattle, poultry, and others. The poultry feed segment is anticipated to dominate the market during the forecast years. This can be accredited to the increasing consumption of poultry meat. The rising prevalence of salmonella, avian influenza attacks, and efforts to improve poultry productivity are creating more demand for nutritious eatables in the country.
Low cost, easy availability, and excessive demand for protein-rich poultry meat by health-conscious populations are some of the factors driving the poultry industry.
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Cargill, Nutriad, BASF SE, Archer Daniels Midland Company, Alltech International, Novus International, and others are some of the leading players operating in Peru animal feed market.
The companies operating in the market are using organic strategies such as product launches, mergers, and collaborations to boost their share.
“Peru animal feed market is projected to witness significant growth during the forecast years owing to the growing energy requirements along with increasing animal meat consumption which is creating a higher need for processed aqua, poultry, and dairy products in the country.
Additionally, the presence of established players such as Cargill, and BASF SE, among others is further expected to spur the market through 2027,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Peru Animal Feed Market By Type, By Livestock, By Raw Materials, By Distribution Channel, By Region, Competition, Forecast & Opportunities, 2027” has evaluated the future growth potential of the Peru animal feed market and provides statistics & information on the market size, structure and future market growth.
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The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Peru animal feed market.
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