Latin America Direct fed Microbials Market 2021: Research, Analysis, Statistics and Growth Report

According to the report Latin America Direct fed Microbials market, published by Market Data Forecast, the Market was worth USD 112.82 million in 2016 and estimated to be growing at a CAGR of 7.28%, to reach USD 160.3 million by 2021.

Direct fed microbial-based feed plays a crucial role in providing medicinal and health benefits to livestock, for example, prevention and cure of diseases. Lactic acid bacteria are broadly utilized for feed of poultry and ruminants, for healthy development.

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The market is driven by factors such as increase in awareness about sustain quality and safety, rising demand for fabricated animal nourish, growth in demand for animal protein, changes in farming practices and technology, and replacing anti-toxin growth promoters (AGPs) with direct-fed microbials. The continuous rise in the population has also resulted in an increase in the demand for food and the necessity for direct-fed microbials, to increase meat and milk production in a sustainable manner. A decline in the usage of anti-infection growth promoters across the globe is driving the sales of direct-fed microbials. Factors such as, high cost of direct-feed microbials and low shelf life are prompting an ascent in the cost of production and limiting the development of the market.

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The Direct fed Microbials market is segmented on the basis of type, livestock, form and region. On the Basis of Type, market is segmented into Lactic Acid Bacteria, Bacillus subtilis, Other bacteria. Based on Lactic Acid Bacteria, market is further segmented into Lactobacilli, Bifidobacteria, Streptococcus thermophiles. Further based on Bacillus subtilis, market is segmented into Bacillus licheniformis and Other bacteria. On the basis of Livestock, market is segmented into Swine, Poultry, Ruminants, Aquatic Animals, Others. On the basis of form, market is segmented into dry form and liquid form. On the basis of geography, the Latin America market is analysed under various regions namely Brazil, Argentina, Mexico. Based on type, lactic acid bacteria segment is expected to be the quickest developing, as these direct fed microbials are highly viable. In terms of market share Lactic acid bacteria dominates then trailed by bacillus segment. Based on livestock, poultry segment led the market in 2015.

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Some of the major companies dominating the market, by their products and services include Archer Daniels Midland Company, E.I. Dupont De Nemours and Company, Koninklijke DSM N.V., Novozymes, Chr. Hansen Holding A/S, Kemin Industries, Inc., Biomin Holding GmbH, Lallemand, Inc., Novus International, Inc., Bio-Vet.

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