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Global Aquaculture Additives Market 2021: By Product (Amino Acids, Antibiotics, Vitamins, Feed Acidifiers, Anesthetic & Sedation materials, Anti-Parasitic, Others), By Application (Carp, Mollusks, Salmon, Shrimps, Tilapia, Catfish, Sea Bass, Trout, Others)Global Aquaculture Additives Market Trends Insights, Applications and Opportunity Analysis, Market Growth Rate and Forecast 2019 to 2028” is among the latest reports produced by Trusted Business Insights. The report includes drivers and challenges for growth of the global market, ongoing trends and future opportunities. Company profiles for prominent players have also been included in the final report. The target market is projected to register substantially high CAGR over the next 10 years. To offer a holistic aspect of the global aquaculture additives market, the report has been bifurcated based on product, application, and region & country.Request Covid - 19 Impact The Global Aquaculture Additives market size was valued at USD $1.24 Billion in 2020, USD $1.29 Billion in 2021, forecasted to reach USD $1.34 Billion in 2022, and is projected to reach USD $1.82 Billion by 2030, and is anticipated to expand at a CAGR of 3.95% over the forecast period from 2020 to 2030.
Aquaculture Additives: Product OverviewAquaculture, also known as aquafarming, is a procedure of breeding fish, mollusks, crustaceans, aquatic plants, algae, and other aquatic organisms. Types of aquaculture include shrimp farming, fish farming, Mariculture, oyster farming, cultivation of ornamental fish and algaculture. Aquaculture additives are chemical compounds that act as extra nutrients for aquatic animals that help to boost their immunity levels, protect from infections, and maintain overall health of the aquatic organisms.
Global Aquaculture Additives Market Dynamics
Drivers:One of the rich sources of vitamins and proteins for human consumption is fish. Fishes have the lowest fat levels as compared to that in other meat alternatives. Fish is very useful for patients having cardiovascular diseases, and fish also plays important role in development of fetus, helps in overall development of the children with protein deficiency, and reduces the levels of fat in obese people. These are some of the benefits of fish, which is among the major factors expected to drive revenue growth of the global aquaculture additives market. In addition, changing eating habits, rising consumer awareness about health benefits of consumption of aquatic animals and organisms are factors boosting growth of the target market. Worldwide consumption rate of seafood has been witnessing a steady increase in the recent past owing to rising awareness regarding health benefits and nutritional value associated with seafood. Shrimps and Salmon are rich sources with high nutritional value comprised of vitamins, proteins, omega-3 fatty acids, and minerals. Demand for seafood globally is significantly high and increasing steadily. Seafood makes up one-sixth of all animal-based proteins consumed around the world. Increasing demand for seafood is encouraging sustainable aquaculture practices and the trend is expected to continue in future. Several certification programs have made progress in defining key characteristics of sustainable aquaculture. Sustainability of species totally depends on its lifecycle and feeding habits, as well as on farming operations. Hence, adoption of aquatic additives to feed underwater animals and in order to get certification is one of the major factors fueling market growth. Moreover, rising government initiatives to spread awareness about benefits of additives is expected to support growth of the global market. Some facts and figures by authentic organizations that are indicative that the demand for seafood is rising and this is expected to impact the target market positively. For instance, according to the United Nations Food and Agriculture Organization (FAO), in 2014, world per capita apparent fish consumption increased from an average of 9.9 kg in the 1960s to 14.4 kg in the 1990s, and 19.7 kg in 2013, with preliminary estimates for 2016 and 2017 pointing at further growth beyond 25 kg. In addition, FAO also reported that production from feed-dependent aquaculture increased over fourfold from 12.2 to 50.7 Mn tons, largely through intensification of production methods during the period 1995–2015. According to FAO, fish accounted for around 17% of the global populations intake of animal protein and 6.7% of all protein consumed in 2013. Moreover, fish provides over 3.1 billion individuals with around 20% of their average per capita intake of animal protein. Although annual per capita consumption of fish has grown steadily in developing economies (from 5.2 kg in 1961 to 18.8 kg in 2013) and in low-income food-deficit countries (LIFDCs) (from 3.5 to 7.6 kg), it is still considerably lower than that in more developed economies, even though the gap is narrowing. Restraints: Fluctuation in prices of raw materials used to make additives, easy availability of additives by local players at low cost are major factors that could restrain growth of the global aquaculture additives market.
Global Aquaculture Additives Market: Segment Analysis
Product Segment Insights:Among the product segments, the amino acid segment is expected to dominate in the global aquaculture additives market, as amino acid plays an important role in increasing metabolism level and nutrition of fish. In addition, amino acid is important for cell signaling, appetite stimulation, growth and development regulation, feed intake, osmoregulation, nutrient and energy utilization, immunity, stress responses, reproduction, larval metamorphosis, and resistance to pathogenic organisms. Moreover, supplements made of essential amino acids help to develop new strategies to balanced feed in animal. Furthermore, rising awareness about importance of amino acids for improving effectiveness of protein usage in aquaculture feeding is anticipated to boost the market growth over the 10-year forecast period.
Application Insights:Among the applications of aquaculture additives, the carp segment is expected to account for the highest revenue share in the target market and is projected to continue with its dominance over the 10-year forecast period, as carp is one of the vital aquaculture species in the Asian and European countries. In addition, carps are a rich source of low-fat protein and rich in omega 3 fatty acids, which have ability to reduce cholesterol, and this is one of the key factors boosting growth of the carp segment in the market. The catfish segment is projected to register significant growth rate in the next 10 years, as catfish is rich in vitamin D and omega 6 fatty acids.
Global Aquaculture Additives market: Region AnalysisThe Asia Pacific market is projected to register the highest CAGR in the global aquaculture additives market over the 10-year forecast period, owing to favorable climatic conditions in countries in the region. In addition, growing aquaculture additives markets in India and China due to ease of induced conditions for aquaculture, resource availability, and cheap labor is projected to register high growth rate in Asia Pacific market over the forecast period. Moreover, growing consumption of seafood in Southeast Asian countries such as Thailand and Vietnam, coupled with inclining demand for high-quality seafood is projected to boost growth of the global aquaculture additives market in countries in the region. The North America market is projected to witness a significant growth rate in the global market, due to rising awareness regarding health benefits of consumption of seafood in countries such as the US and Canada in the region.
Below are the leading companies profiled in this Aquaculture Additives Market Report:
Chapter 1 Methodology and Scope