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Global Aquafeed Additives Market 2021: By Ingredient (Anti-Parasitic, Feed Acidifiers, Prebiotics, Essential Oils & Natural Extracts, Palatants, Hydrolysates, Yeast Extracts, Others), By Application (Carp, Rainbow Trout, Salmon, Crustaceans, Tilapia, Catfish, Sea Bass, Grouper, Others)The Global Aquafeed Additives market size was valued at USD $24.23 Billion in 2020, USD $25.61 Billion in 2021, forecasted to reach USD $27.06 Billion in 2022, and is projected to reach USD $52.03 Billion by 2030, and is anticipated to expand at a CAGR of 5.66% over the forecast period from 2020 to 2030. Global Aquafeed Additives Market is an upcoming market research report by Trusted Business Insights. In the report, various data and information on the global aquafeed additives market including competitive landscape, details of key players, market restraints, potential revenue growth opportunities, revenue details, trends, threats, drivers, and recent developments are included in detail. Final conclusions and research findings are verified by experts from the industry. The global aquafeed additives market research report is segmented on the basis of ingredients, applications, and regions/countries.
OverviewAquafeed additives are nutritive ingredients that are used in the manufacture of aquafeed for the purpose of improving the quality of the final product. Aquafeed additives assist in keeping the fish healthier by preserving the chemical and physical qualities of their diets. It aids in feed ingestion and in supplying vital nutrients in its purified form. Aquafeed additives are used to combat various aquatic life diseases that arise due to environmental pollution.
DynamicsThe rise in demand for various aquafeed additives, especially in developing economies, for several species including salmon, tilapia, carp, and catfish is projected to drive market growth over the coming years. This is due to the availability of cheap labor, favorable climatic conditions, and abundant resources. In addition, the growing acceptance of aquafeed that contains essential oils and natural extracts, prebiotics, and acidifiers are projected to further expand the growth of the global aquafeed additives market over the forecast period. In order to prevent infection in fish (which are caused by parasites) and to enhance the quality of aquafeed, antiparasitics are used in aquafeed. Controlling parasites in fish farming is very complicated as there are no effective licensed products for it. Aquafeed additives are rich sources of omega-3 fatty acids and proteins. These additives to aquafeed enhance its nutritional value and provides various benefits such as increased protein digestibility, augmented growth rate, an improved immunity system, reduced mortality rates, and enhanced feed conversions. Benefits such as these are leading to an increase in the consumption of these products. On account of this, the global aquafeed additives market is projected to experience growth over the forecast period.
Global Aquafeed Additives Market Segment Analysis:By Ingredient: The feed acidifiers segment is expected to continue to account for the highest revenue share of the market. This can be attributed to the FDAs inclination towards restricting the use of various antibiotics and a growing focus on animal health management. In addition, different benefits of feed acidifiers such as increased protein digestibility, augmented growth rate, increased resource efficiency in aquaculture, enhanced feed conversion, reduced mortality, and improved immune response are attributed to the growth of the segment. By Application: The carp segment is projected to continue to account for a majority revenue share over the coming years due to the health benefits offered by the products of this segment. Carps are a rich source of omega-3 fatty acids and low-fat protein. In addition, the growth of the segment can also be attributed to the increasing application of Omega-3 fatty acids in the food & beverage industry as they have the ability to reduce cholesterol levels.
Global Aquafeed Additives Market Regional Analysis:The aquafeed additives market in North America is projected to account for the majority revenue share over the next ten years. This can be attributed to the increasing consumption of seafood in countries in the region such as Canada and the US. The rise in the consumption of different species such as mollusks and salmonids, especially oysters, hard clams, and mussels in the region is also contributing to the growth of the market in this region. The market in Europe is projected to index significant revenue growth over the coming years due to expanding marine aquaculture in countries such as Denmark, Norway, and Ireland.
Below are the leading companies profiled in this Aquafeed Additives Market Report:
Chapter 1 Methodology and Scope