Latin America Aquafeed Market was worth $10.53 billion in 2021 and estimated to be growing at a CAGR of 7.20%, to reach $14.91 billion by 2026.
Aquafeed is a mixture of raw materials, additives, and other supplements, sourced from either natural or synthetic sources and is fed to the aquaculture.Aquafeed additives include amino acids, vitamins, minerals, enzymes, probiotics, antibiotics, flavors, and colorants are the most common additives blended to form fish feed. Fish production in the world is mainly from both Aquaculture and Capture. The end consumers of Aquafeed are fish, mollusks, crustaceans etc. Tilapia is the most farmed fish, raised in 135 countries whereas Shrimp is the largest aquaculture commodity.
Latin America Aquafeed Market Drivers:
The growth of the Latin America Aquafeed market is majorly driven by factors such as the growth in fish consumption, an increase in mass production of fish, and limited availability of marine feed resources. Volatile economies and rising costs of raw materials are the main factors hindering the growth of the market.
Latin America Aquafeed Market - By End Use:
Latin America Aquafeed Market - By Additives:
Latin America market region includes countries such as Brazil, Mexico, Argentina, and the remaining countries of South America. It is one of the fastest-growing Aquafeed markets in the world. There are essentially four major players in this region. Chile, the largest aquafeed producer in the region, has built a highly advanced salmon industry. It is followed by Brazil, then Ecuador, which is a leading shrimp exporter. Mexico ranks fourth, with shrimp and tilapia, and to a lesser extent, trout and marine species.
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