Latin America Vitamin D Market 2023-2030
MARKET OUTLOOK
Triton Market Research’s report suggests that the vitamin D market in Latin America is projected to progress with a compound annual growth rate of 7.23% during the forecast period 2023-2030. Brazil, Mexico, and Rest of Latin America are studied in the region’s market.
Mexico is among the largest feed manufacturers globally. The demand for vitamin D in animal feed has soared substantially over the past few years. In this regard, the adoption of vitamin D premixes is expected to greatly benefit the studied market. Another factor driving the demand for this nutrient is the high rate of medical conditions like diabetes and deficiency. Hence, as per our estimates, the growing animal feed industry and vitamin D deficiency propel the studied market on a growth path.
Argentina is also one of the major suppliers of food and raw materials across the agriculture, livestock, and dairy sectors. Over recent years, diary supplements and organic foods have gained significant traction, influencing the inclusion of vitamin D ingredients to a large extent. These factors are thus expected to widen the scope and growth of the vitamin D market across the country.
COMPETITIVE OUTLOOK
The well-known enterprises in the vitamin D market are BASF SE, Synthesia a.s, LycoRed Ltd, and Adisseo.
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