The global aquafeed additives market size is anticipated to surpass US$ 3.4 billion by 2033. It is estimated to record a steady CAGR of 4.3% in the review period 2023 to 2033. It is likely to exceed a valuation of US$ 2.3 billion in 2023. The global aquafeed additives market registered an astonishing CAGR of 6.1% in the historical period between 2018 and 2022.
The aquafeed additive market is a critical component of the aquaculture feed additives business, which involves the cultivation of aquatic species like as fish, prawns and shellfish for human consumption. Aquatic feed additives are specialised compounds found in the feed of these marine species. They provide a variety of functions, including improving nutrition, refining development and health, and ensuring farmed seafood quality.
The aquafeed additives market is quickly expanding to fulfil rising seafood demand. This is resulting in a dramatic increase in sales of high-quality aquaculture feeds. This comprises chemicals that improve the nutrition and health of farmed aquatic creatures.
Aquafeed additives include many ingredients, including proteins, vitamins, minerals, amino acids, enzymes, probiotics, prebiotics, antioxidants, and more. These additives are carefully selected and formulated to meet the specific nutritional needs of diverse aquatic species at different growth stages.
One of the key functions of aquafeed additives is to offer essential nutrients that may be lacking in the main diet. This ensures that aquatic species receive balanced and complete nutrition, enough for their growth and reproduction. Some additives are designed to boost the immune system and overall health of aquatic species, thereby reducing disease risk and the need for antibiotics.
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Sustainable sourcing of environmentally friendly aquafeed ingredients and additives is becoming increasingly significant in the aquafeed market. Reducing reliance on limited resources such as fishmeal and fish oil is important.
Continuous research and development efforts are aimed at enhancing the nutritional value of aquafeed additives. This reduces environmental impact and improves the overall sustainability of farming operations in seafood. The aquafeed additives market is integral to the success of the aquaculture industry as it plays an important role in safeguarding the efficient and sustainable production of aquatic products.
Key Takeaways from the Aquafeed Additives Market Report
- China’s aquafeed additives market is projected to cross a value of US$ 524.3 million by 2033.
- Japan’s aquafeed additives market is projected to top a valuation of US$ 347.9 million with a CAGR of 4.9% by 2033.
- South Korea’s aquafeed additives market is estimated to exceed a valuation of US$ 197 million by 2033.
- Based on ingredients, the anti-parasitic category is projected to surge at a CAGR of 6.0% from 2018 to 2022.
- In terms of application, the carp segment is expected to surge at a 4.0% CAGR by 2033.
“Increased fish farming activity globally coupled with augmented spending on activities such as research and development is pouring the growth of the aquafeed additives market. The growing demand for a compound meal to maintain the health of aquatic species coupled with the rising awareness of aquafeed additives are other drivers for the market’s growth.”– says a lead analyst at Future Market Insights (FMI).
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Competitive Landscape
The market is highly competitive, with several companies offering a wide variety of products for diverse species of aquatic animals. Leading players have a robust global presence and supply a range of aquaculture feed additives, such as vitamins, amino acids, minerals, and enzymes. In addition, having a robust distribution network, marketing and good sales efforts, and competitive pricing are all significant factors for remaining competitive.
For instance,
- In May 2022, Biomar A/S acquired smart shrimp feeding technology supplier AQ1 Systems.
- In September 2021, Alltech announced a 50% expansion of the Alltech Coppens Aqua Center research facility.
Get More Valuable Insights into the Aquafeed Additives Market Report
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global aquafeed additives market presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study incorporates compelling insights on the aquafeed additives industry based on ingredient (anti-parasitic, feed acidifiers, prebiotics, essential oils and natural extracts, palatants, hydrolysates, yeast extracts, others) application (carp, rainbow trout, salmon, crustaceans, tilapia, catfish, sea bass, grouper, others) across several regions.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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