Latin America Animal Antimicrobial And Antibiotics Market Size & Outlook
Latin America animal antimicrobial and antibiotics market, 2018-2030 (US$M)
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Latin America animal antimicrobial and antibiotics market highlights
- The Latin America animal antimicrobial and antibiotics market generated a revenue of USD 79.2 million in 2022.
- The market is expected to grow at a CAGR of 2.8% from 2023 to 2030.
- In terms of segment, antibiotics was the largest revenue generating type in 2022.
- Antimicrobial is the most lucrative type segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2023 to 2030.
Latin America data book summary
| Market revenue in 2022 | USD 79.2 million |
| Market revenue in 2030 | USD 99.0 million |
| Growth rate | 2.8% (CAGR from 2022 to 2030) |
| Largest segment | Antibiotics |
| Fastest growing segment | Antimicrobial |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Antimicrobial, Antibiotics |
| Key market players worldwide | Boehringer Ingelheim, CEVA Inc, Elanco Animal Health Inc, Neogen Corp, Phibro Animal Health Corp Class A, Vetoquinol SA, Virbac SA, Zoetis Inc Class A |
Other key industry trends
- In terms of revenue, Latin America region accounted for 11.7% of the global animal antimicrobial and antibiotics market in 2022.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 270.2 million by 2030.
Antibiotics was the largest segment with a revenue share of 57.95% in 2022. Horizon Databook has segmented the Latin America animal antimicrobial and antibiotics market based on antimicrobial, antibiotics covering the revenue growth of each sub-segment from 2018 to 2030.
Central & South America emerged as the major market for animal antimicrobial and antibiotic in 2022 it is anticipated to witness a strong demand owing to the growing animal antimicrobial and antibiotics, primarily in Brazil
Brazil is a significant producer and exporter of food, so it is important to consider the panorama of resistant bacteria related to farm animals. Poultry feed emerged as the largest feed additive segment in this market owing to the strong presence of Brazilian poultry in the global poultry industry. As per Foreign Agriculture Service consumption for poultry and products is 10.54 million tons in 2022.
Favorable feed cost is another major factor which is positively impacting the Brazilian animal antimicrobial and antibiotic market as antimicrobial and antibiotics are commonly used in poultry feed to prevent and treat infections in chickens, ducks, and others.
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Animal Antimicrobial And Antibiotics Market Scope
Animal Antimicrobial And Antibiotics Market Companies
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Latin America animal antimicrobial and antibiotics market size, by country, 2018-2030 (US$M)
Latin America Animal Antimicrobial And Antibiotics Market Outlook Share, 2022 & 2030 (US$M)
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