The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033.
According to The Business Research Company’s Aquafeed Additives, 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.
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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.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.
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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
Innovative product development is gaining popularity as a major trend in the aquafeed additives market. Product innovation enables businesses to remain relevant in their market while growing and improving over time. Aquafeed is a diverse industry that produces hundreds of species on widely disparate production platforms. Major companies focus on improving nutritional understanding by conducting better analyses of alternative raw ingredients and utilizing advanced innovation. These Innovations include water-stable supplements, organic minerals, ingredient pretreatment, gut environment modifiers, and enzymes. For instance, in September 2022, Secma Cabon Solution Vide, a France-based equipment designing and constructing company, launched MultyWays, a unique aquafeed delivery system, The CleanPipe system, DosAir, and Multiways valves are the company’s patented inventions. The interaction of these three elements maximizes output and profitability. While increasing yield and allowing for more frequent daily feedings, MultyWays also gives farmers more time to devote to other duties. Additionally, it lowers labor costs, restricts manual handling, and lessens accidents brought on by frequent feeding motions.
Top Major Players
Aker Biomarine,
Alltech,
Biorigin,
Kemin Industries Inc.,
Norel SA
The aquafeed additives market report table of contents includes:
1. Executive Summary
- Aquafeed Additives Market Characteristics
- Aquafeed Additives Market Trends And Strategies
- Aquafeed Additives Market – Macro Economic Scenario
- Global Aquafeed Additives Market Size and Growth
- Aquafeed Additives Market Segmentation
- Aquafeed Additives Market Regional And Country Analysis
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- Key Mergers And Acquisitions In The Aquafeed Additives Market
- Aquafeed Additives Market Future Outlook and Potential Analysis
- Appendix
List Of Tables :
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Aquafeed Additives Market, Segmentation By Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Aquafeed Additives Market, Segmentation By Ingredient, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Aquafeed Additives Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 74: Aker Biomarine Financial Performance
Table 75: Alltech Financial Performance
Table 76: Biorigin Financial Performance
Table 77: Kemin Industries Inc. Financial Performance
Table 78: Norel SA Financial Performance
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