Latin America Aquafeed Market

Latin America Aquafeed Market Size (2024 to 2029)

The Latin American aquafeed market is expected to be valued at USD 15.97 billion in 2024 and reach USD 32.01 billion by 2029, growing at a CAGR of 7.20% from 2024 to 2029.

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.

The growth of the Latin American 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.

This research report on the Latin America aquafeed market is segmented and sub-segmented into the following categories:

Latin America Aquafeed Market - By End Use:

• Fish
  • Carp
  • Salmon
  • Tilapia
  • Catfish
  • Others
• Mollusks
  • Shrimp
  • Crab
  • Others
• Crustaceans
  • Oyster
  • Mussel
  • Others

Latin America Aquafeed Market - By Additives:

• Vitamins
• Minerals
• Antioxidants
• Amino Acids
• Enzymes
• Acidifiers
• Binders

Latin America Aquafeed Market – By Region:

• Mexico
• Brazil
• Argentina
• Chile
• Rest of Latin America

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.

KEY MARKET PLAYERS:

Cargill, Inc., Nutreco N.V, Alltech Inc., AllerAqua A/S, Beneo GmbH, Biomar A/S, Charoen Pokphand Foods Public Company Limited, Coppens International B.V.. some of the market players dominating the Latin America aquafeed market.