Argentina L-carnitine Market Size & Outlook, 2020-2028
Argentina l-carnitine market, 2017-2028 (US$M)
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Argentina l-carnitine market highlights
- The Argentina l-carnitine market generated a revenue of USD 2.7 million in 2020 and is expected to reach USD 3.9 million by 2028.
- The Argentina market is expected to grow at a CAGR of 4.7% from 2021 to 2028.
- In terms of segment, bioprocess was the largest revenue generating process in 2020.
- Chemical Synthesis is the most lucrative process segment registering the fastest growth during the forecast period.
L-carnitine market data book summary
| Market revenue in 2020 | USD 2.7 million |
| Market revenue in 2028 | USD 3.9 million |
| Growth rate | 4.7% (CAGR from 2020 to 2028) |
| Largest segment | Bioprocess |
| Fastest growing segment | Chemical Synthesis |
| Historical data | 2017 - 2019 |
| Base year | 2020 |
| Forecast period | 2021 - 2028 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Chemical Synthesis, Bioprocess |
| Key market players worldwide | Lonza Group Ltd, Neogen Corp, WuXi Biologics (Cayman) Inc, Merck KGaA, Tokyo Chemical Industry, CEVA Inc |
Other key industry trends
- In terms of revenue, Argentina accounted for 1.5% of the global l-carnitine market in 2020.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2028.
- In Latin America, Brazil l-carnitine market is projected to lead the regional market in terms of revenue in 2028.
- Brazil is the fastest growing regional market in Latin America and is projected to reach USD 6.4 million by 2028.
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L-carnitine Market Scope
L-carnitine Market Companies
| Name | Profile | # Employees | HQ | Website |
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Argentina l-carnitine market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to l-carnitine market will help companies and investors design strategic landscapes.
Bioprocess was the largest segment with a revenue share of 77.78% in 2020. Horizon Databook has segmented the Argentina l-carnitine market based on chemical synthesis, bioprocess covering the revenue growth of each sub-segment from 2017 to 2028.
Animal feed industry in Argentina is expected to grow owing to the increased consumption and export of meat from the country. According to a report published by the USDA Foreign Agricultural Service, as of 2016, the country ranked second in per capita consumption of beef.
Increase in the consumption of beef in the country is projected to fuel the demand for animal feed. In addition, rising cases of animal diseases are anticipated to boost the animal feed industry as the customers are seeking for feed equipped with functional ingredients. The use of L-carnitine in animal feed promotes healthy growth of the animals.
The aforementioned are likely to augment the growth of L-carnitine market over the forecast period. Healthcare industry in Argentina is expected to grow owing to the change in government administration from 2015. The new political and economic environment promoted trade by eliminating the restriction imposed on imports, unifying the exchange rates, and removing the limitations put on the dividend repatriation & floating.
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Horizon Databook provides a detailed overview of country-level data and insights on the Argentina l-carnitine market , including forecasts for subscribers. This country databook contains high-level insights into Argentina l-carnitine market from 2017 to 2028, including revenue numbers, major trends, and company profiles.
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Argentina l carnitine market size, by process, 2017-2028 (US$M)
Argentina L-carnitine Market Outlook Share, 2020 & 2028 (US$M)
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