MARKET REPORT FEED & ADDITIVE MAGAZINE February 2021 61 2020. Brazil, which achieved a 10 percent increase in compound feed production, increased its production from 70.4 million tons in 2019 to 77.6 million tons in 2020. Broiler feed production in the country was 34.4 million tons and pig feed production was 18.6 million tons. Mexico and Argentina follow Brazil in feed production in Latin America. While Mexico increased feed production by 4 percent, Argentina became the second country with the largest increase with 7 percent after Brazil. These three countries account for 78 percent of regional feed production. 24,1% 13,5% 28% 10,8% 9,8% 4,1% 2,5% Broilers Dairy Pets Layers Beef Pigs Aquaculture Share of Types in Total Production (2020) According to IFIF, the annual turnover of global commercial feed production exceeded $ 400 billion in 2018. More than 130 countries have a share in the production and sales side of this commercial value. According to the animal feed market research prepared by Technavio, the global size of the market between 2020 and 2024 has a growth potential of over $ 92 billion in total. During this period, the compound annual growth rate in the sector is expected to be 4 percent. Asia-Pacific countries (APAC) in particular continue to stand out as the most important key market in the industry. In the coming years, it is expected that the most important contribution to the growth of the global animal feed market will be provided by this region. According to the researches, it is predicted that 40 percent of the growth in the market will originate from this region in the period of 2020-2024, and growth in the Asia-Pacific region will be much faster compared to other regions. The most important market in the region is China. On the basis of types, according to Technavio market research, the increasing demand for egg and poultry meat will increase the demand for feed production in this field. However, market growth in the poultry group will be slower than in the pig, ruminant and aquaculture group. Considering the growth rates in 2020, it is likely that there will be a faster growth especially in aquaculture feeds in the coming periods. FUTURE FORECASTS AND FEED INDUSTRY IN TERMS OF COMMERCIAL VALUE
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