Market Size –
The aquafeed additives market size has grown strongly in recent years. It will grow from $1.63 billion in 2023 to $1.76 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to growing aquaculture industry, nutritional requirements, health and disease management.
The aquafeed additives market size is expected to see strong growth in the next few years. It will grow to $2.32 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to population growth and urbanization, environmental sustainability, regulatory changes, global economic trends. Major trends in the forecast period include research and development, sustainable practices, alternative proteins, functional feed ingredients, digitalization and precision aquaculture, customization in formulations, clean label additives.
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Scope Of Aquafeed Additives Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The rise in consumption and demand for seafood is expected to propel the growth of the aquafeed additives market. Consumer preference for seafood as a protein source, and increased demand for exotic marine species such as shrimp and oysters, is boosting the growth of seafood. These species improve the protein requirements as they contain significant levels of vitamins, fat, and fatty oils such as sardine oil, squid oil, essential amino acids, phospholipids, and cholesterol, which are very beneficial for one’s health. For instance, according to the Organization for Economic Cooperation and Development (OECD), a France-based intergovernmental economic organization, 90% of the fish produced will be consumed by humans, with consumption anticipated to increase by 16.3% by 2029. Therefore, the rise in seafood and marine species consumption will drive the aquafeed additives market.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The aquafeed additives market covered in this report is segmented –
1) By Source: Animal, Microorganisms, Plant
2) By Ingredient: Anti-Parasitic, Feed Acidifiers, Prebiotics, Essential Oils And Natural Extracts, Palatants, Other Ingredients
3) By Application: Carp, Rainbow Trout, Salmon, Crustaceans, Tilapia, Catfish, Sea Bass, Grouper, Other Application
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Regional Insights –
North America was the largest region in the aquafeed additives market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aquafeed additives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the aquafeed additives market report are Aker Biomarine, Alltech, Biorigin, Kemin Industries Inc., Norel SA, BioMar Group A/S, Cargill Inc., DuPont de Nemours Inc., Nutreco NV, Nutriad Ltd., Calanus AS, Olmix Group, Lallemand Inc., Nouryon B. V., Delacon Biotech Nik Ges. m. b. H., Camlin Fine Sciences Ltd., Diana S. A. S., Aller Aqua A/S, Archer Daniels Midland Company, Ridley Corporation Ltd., Thai Union, Inve Aquaculture Inc., Growel Feeds Pvt. Ltd., BASF SE, Bluestar Adisseo Company, Wilbur-Ellis Nutrition LLC, Purina Animal Nutrition LLC, Koninklijke DSM N. V., Skretting, Clextral S. A. S., Trouw Nutrition LLC, Balchem Corporation, AquaBounty Technologies, Scoular, Nutra Blend LLC
Table of Contents
1. Executive Summary
2. Aquafeed Additives Market Report Structure
3. Aquafeed Additives Market Trends And Strategies
4. Aquafeed Additives Market – Macro Economic Scenario
5. Aquafeed Additives Market Size And Growth
…..
27. Aquafeed Additives Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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