Aquafeed & Aquaculture Additives Market Size
Aquafeed and Aquaculture Additives Exceeding USD 66.5 billion in 2021, market size is expected to rise at a CAGR of over 7% between 2022 and 2030 thanks to government programs supporting food security and nutrition. Increasing fish consumption in line with global fish availability should help to drive market expansion.
To get key market trends
Feeding aquatic animals such fish and crustaceans a comprehensive nutritional meal, aquafeed and aquaculture additives are diets and supplements. Mostly amino acids, antibiotics, vitamins, and feed acidifiers, aquaculture additives also include These are in charge of the feed quality improvement as well as the consequent increase in animal growth performance and health.
The aquafeed and aquaculture additive market share is mostly driven by the global growing seafood consumption. Furthermore improving the consumption patterns and probably influencing the size of the market throughout the forecast period are rising population and rising consumer disposable income.
| Report Attribute | Details |
|---|---|
| Base Year | 2021 |
| Aquafeed and Aquaculture Additives Market Size in 2021 | 66.6 Billion (USD) |
| Forecast Period | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR | 7% |
| 2030 Value Projection | 117 Billion (USD) |
| Historical Data for | 2017 to 2021 |
| No. of Pages | 335 |
| Tables, Charts & Figures | 458 |
| Segments covered | End-Use and Product |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
Expected to boost industrial development are favorable government rules and standards including the acceptance of insect protein use in aquafeed. For aquafeed and aquaculture, insects provide a natural and sustainable supply of premium protein. Key driver of market expansion is the expected benefits of using insect proteins as a feed component for aquaculture concerning growth and quality.
Aquafeed & Aquaculture Additives Market Analysis
Learn more about the key segments shaping this market
At a CAGR of more than 4.5%, the amino acids market is predicted to see significant expansion surpassing USD 587.5 million by 2030. One of the main reasons for the aquafeed and aquaculture additive market expansion is increased consumption of amino acids as a feed ingredient in the aquaculture sector. Essential components, proteins help fish and prawns have high rates of growth and good metabolism.
Not able to synthesis proteins into amino acids like valine, arginine, lysine, phenylalanine, threonine, tryptophan, methionine, and others are fishes and prawns. To improve the health and growth rates of fish, producers must thus include sources of protein to aquafeed. Pea and soy are the main sources of amino acids applied in aquaculture and aquafeed.
Furthermore, fish require a minimum diet ranging from 30 to 55 percent of crude protein concentration in order to develop at a desired rate. Amino acids' function in fish diets is as fundamental units for protein synthesis. Amino acids' growing use in fish diets because of its several health advantages is predicted to increase the size of aquafeed and aquaculture additives industry.
Learn more about the key segments shaping this market
The crustaceans market was valued at around USD 6.5 billion in 2021 and is expected to grow at a CAGR of above 7.5% from 2022 to 2030. Crustaceans provide a major share of omega fatty acids, vitamins, and minerals and they are an excellent source of amino acids including methionine, leucine, histidine, threonine, and valine.
The rich protein content in crustaceans is a key factor responsible for the rise in cultivation and increasing product demand from the food processing industry. Crustaceans are aquatic animals that have the ability to survive in both marine & freshwater environments. The rising demand for protein-rich diets is a major factor attributing to the growth of the aquafeed & aquaculture additives market revenue.
Moreover, the application of shells of crabs and some other crustaceans in treating & preventing inflammatory diseases should boost its demand from the medical industry. The growing geriatric population and unhealthy eating habits globally has attributed to numerous health disorders. This factor is expected impact the aquafeed & aquaculture additives market sales during the forecast period.
Looking for region specific data?
The Asia Pacific aquafeed & aquaculture additives market is expected to go beyond USD 75.5 billion by 2030 and grow at a CAGR of more than 6.5% during the forecast period. Factors such as resource availability, inexpensive labor, and ambient environmental conditions for an exponential growth rate in aquaculture are driving market growth.
Improvements in cultivation technology along with the rising per-capita consumption patterns of aquatic products should lead to the fishery industry expansion in the region. The growing working population, increasing consumer income levels, and awareness regarding the benefits of protein rich diets should fuel the demand for processed seafood products in the region.
Additionally, the recent political instability has led to a decline in imports by the U.S. This in turn creates an opportunity for other countries, such as Thailand and Vietnam, to meet the supply deficit in Europe and North America. Thus, it is a major factor expected to boost the Asia Pacific market growth for aquafeed & aquaculture additives. Increasing government focus of government towards supporting the growth of aquaculture sector in China and India is driving the business growth.
Aquafeed & Aquaculture Additives Market Share
The global aquafeed & aquaculture additives industry share is highly fragmented due to the presence of various industrial participants. Major companies are involved in strategic partnerships and expansion of research & development activities in order to boost competition in the market. Some of the major key players include
- Biomar
- Alltech
- DSM
- BASF
- Ridley
- Evonik
- Cargill Inc
- Beneo GmbH
- Novus International
The companies in the market are showing keen interest in capacity expansion and mergers & acquisitions to enhance the business.
Biomar A/S bought provider of sophisticated shrimp feeding technologies AQ1 Systems in May 2022. This critical project will enable Biomar A/S to supply innovative intelligent feeding systems for prawn producers.
In September 2021, Alltech announced expansion of its Alltech Coppens Aqua Centre (ACAC research facility by 50%. The expansion will help Alltech focus on new recirculating aquaculture system (RAS) feed which will help in increasing profitability of fish farmers.
In June 2020, DSM and North Carolina State University entered in a collaboration for 10 years for research in three functional areas, animal gut health, precision nutrition, and data driven decision making for animal health. This collaboration will help the company to diversify its product portfolio, improve brand image, and strengthen market share.
The aquafeed & aquaculture additives market report includes in-depth coverage of the industry with estimates & forecast in terms of volume (Kilo Tons) and revenue in USD (Million) from 2022 to 2030 for the following segments
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By End-Use
- Crustaceans
- Mollusks
- Carp
- Salmon
- Catfish
- Tilapia
- Others
By Product
- Amino acids
- Antibiotics
- Vitamins
- Feed acidifiers
- Others
The above information has been provided for the following regions
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Norway
- Poland
- Netherlands
- Denmark
- Russia
- Asia Pacific
- China
- India
- Japan
- Vietnam
- Indonesia
- Thailand
- Malaysia
- Latin America
- Brazil
- Argentina
- Chile
- Peru
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
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