Mexico Animal Feed Market - Forecasts from 2024 to 2029

Mexico Animal Feed Market - Forecasts from 2024 to 2029

The Mexico animal feed market is evaluated at US$13.47 billion for the year 2022 growing at a CAGR of 6.19% reaching the market size of US$20.511 billion by the year 2029.

As per the USDA Grain and Feed Annual Report published in March 2022, Mexico continues to be a major importer of basic grains. The United States is expected to remain Mexico’s principal supplier due to logistical advantages coupled with existing business relationship benefits. Furthermore, feed consumption of wheat is expected to continue to decline, owing to the relatively higher cost of wheat than alternatives such as corn. At higher consumer incomes, expenditures on cereals and basic crops tend to decrease, while the expenditure on the consumption of poultry, pork, and beef meats, milk, and eggs increases.

Market Drivers

Growing livestock production & meat consumption drive the market growth

Feed represents a notable share of the total cost of the production of broiler meat. Chicken meat and egg consumption are also increasing, due to being affordable in an increasingly price-sensitive market. Also, these sources of protein are increasingly being considered viable and healthy alternatives to beef and pork. Livestock production in Mexico continues to grow because of the vertical integration of farms coupled with better biosecurity measures. Furthermore, beef exports are also expected to increase in Mexico, especially to Asian markets where high-labor, added-value meat products command a price premium. Additionally, the domestic pork industry also continues to grow owing to the consumer preference for more affordable animal proteins. Therefore, with such aforementioned factors that are conducive to Mexico’s animal feed market expansion, it will this market is expected to witness healthy growth during the forecast period.

Key Developments
In June 2022: Buhler Group created a joint venture with IMDHER S.A. de C.V., one of the best-recognized players in the Mexican animal feed market. The joint venture expands the offering to Mexican customers with the help of Buhler’s technology solution and IMDHER’s existing assets.
In March 2022: Archer Daniels Midland’s pet solution division announced the expansion of its pet food production capacity in Mexico by adding a new production line at the existing Guadalajara pet food. The new operation of the company aims to provide the northern markets of Mexico and Colombia with quality pet food.

Segmentation:

By Type
Fodder
Forage
Compound Feed
By Livestock
Aquatic Animal
Cattle
Poultry
Others
By Form
Liquid
Dry
By Production System
Integrated
Commercial Mills
By Raw Materials
Soya
Corn
Rendered Meal
Others