Latin America L-carnitine Market Size & Outlook, 2020-2028
Latin America l-carnitine market, 2017-2028 (US$M)
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Latin America l-carnitine market highlights
- The Latin America l-carnitine market generated a revenue of USD 11.3 million in 2020.
- The market is expected to grow at a CAGR of 4.5% 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.
- Country-wise, Brazil is expected to register the highest CAGR from 2021 to 2028.
Latin America data book summary
| Market revenue in 2020 | USD 11.3 million |
| Market revenue in 2028 | USD 16.1 million |
| Growth rate | 4.5% (CAGR from 2020 to 2028) |
| Largest segment | Bioprocess |
| Fastest growing segment | Chemical Synthesis |
| Historical data covered | 2017 - 2019 |
| Base year for estimation | 2020 |
| Forecast period covered | 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, Latin America region accounted for 6.1% of the global l-carnitine market in 2020.
- Globally, North America is projected to lead the regional market in terms of revenue in 2028.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 69.3 million by 2028.
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L-carnitine Market Scope
L-carnitine Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America 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 76.99% in 2020. Horizon Databook has segmented the Latin America l-carnitine market based on chemical synthesis, bioprocess covering the revenue growth of each sub-segment from 2017 to 2028.
Rising demand for meat and meat products in countries including Brazil and Argentina is expected to drive the growth of animal feed industry in Central & South America. Factors such as increase in the consumption of meat, rising export opportunities, and growing disposable income are projected to further augment the growth of animal feed industry in the region.
Growing animal feed industry is, in turn, expected to boost the demand for L-carnitine in Central & South America. The production of nutraceuticals in Brazil is high due to various factors such as growing health awareness and increase in disposable income.
In addition, the government campaigns promoting the use of nutraceuticals for a healthy lifestyle are anticipated to boost the market growth. L-carnitine is used in nutraceutical products to enhance the energy production and fat metabolism process in the body.
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Target buyers of Latin America l-carnitine market databook
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Our clientele includes a mix of l-carnitine market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America l-carnitine market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America l-carnitine market from 2017 to 2028, including revenue numbers, major trends, and company profiles.
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Latin America l carnitine market size, by country, 2017-2028 (US$M)
Latin America L-carnitine Market Outlook Share, 2020 & 2028 (US$M)
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