Aquaculture Additives Market - Forecast(2024 - 2030)
Aquaculture Additives Market Overview
The Aquaculture Additives Market size is forecast to reach $1.6 billion by 2026, growing at a CAGR of 3.9% during the forecast period 2021-2026. Aquaculture is a process of breeding fish, aquatic plants, algae, molluscs, trout, and salmon among others. Aquaculture additives act as an extra nutrients for aquatic animals that helps in protecting them from infections, boosting their levels of immunity, and maintaining the overall health of the aquatic animals. Increasing knowledge regarding the advantages of adequate nutrition to fish among the fish breeders, increasing reduction in the cardiovascular diseases, and increasing improvement in cognitive development in children is the major factor driving the growth of the market. Increasing advancements in the nutrition technology of amino acid and increasing demand for fish protein as a supplements is set to further enhance the overall market demand for the Aquaculture Additives Market during the forecast period 2021-2026.
Aquaculture Additives Market Report Coverage
The report: “Aquaculture Additives Market Forecast
(2021-2026)”, by Industry ARC, covers an in-depth analysis of the following
segments of the Aquaculture Additives Market.
By Product Type: Amino Acids, Antibiotics, Vitamins, Feed
Acidifiers, Sedation Materials, Anti- Parasitic, Phytogenic, and Others
By Applications: Carp, Molluscs, Salmon, Shrimps, Tilapia,
Catfish, Sea Bass, Trout, Crustaceans, and Others
By Geography: North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom
(U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China,
Japan, India, South Korea, Australia, and New Zealand, and Rest of Asia
Pacific), South America (Brazil, Argentina, and Rest of South America), and
Rest of the World (Middle East, and Africa)
Key Takeaways
- North America dominated the Aquaculture Additives Market in 2020 owing to the increasing demand for clean label organic ingredients and increasing health awareness among the consumers. The Aquaculture Additives Market scope for different regions will be provided in the final report.
- Increasing usage of nutritional supplements and increasing consumer inclination towards healthy diets are likely to aid the market growth of the Aquaculture Additives Market report.
- Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be Aquaculture Additives Market report.
- Lack of awareness regarding the proper use of additives among farmers and fluctuating costs of raw materials is poised to create the hurdles for the Aquaculture Additives Market.
Aquaculture Additives Market Revenue Share, By Geography, 2020(%)
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Aquaculture Additives Market Segment Analysis – By Product Type
Amino Acids held the
largest share in the
Aquaculture Additives
Market in 2020 and is estimated to grow at a CAGR 4.3% during the forecast
period 2021-2026. This is owing to the various health benefits that are
associated with the amino acids such as fish metabolism and nutrition. Amino
acids helps in appetite stimulation, feed intake, larval metamorphosis,
osmoregulation, and are resistance to pathogenic organisms among others.
Increasing demand of the aquaculture additives in nutrition applications are
increasing the demand of the amino acids. Amino acids are estimated to register
the higher CAGR over the period 2021-2026.
Aquaculture Additives Market Segment Analysis – By Applications
Molluscs held the largest share in the Aquaculture Additives Market in 2020 and is estimated to grow at a CAGR 4.5% during the forecast period 2021-2026. This is attributed to the increasing demand of molluscs as a source of food for humans including their health benefits. In polyculture systems, there is an increasing demand for molluscs to improve the quality of the surrounding environment. Increasing applications of molluscs for consumers and the agriculture industry along with the increasing demand for fish food is increasing the growth of the segment. Molluscs are estimated to register the higher CAGR over the period 2021-2026.
Aquaculture Additives Market Segment Analysis – By Geography
North America dominated the Aquaculture Additives Market with a major share of 34.3% in 2020. This is attributed to the
increasing government initiatives to enhance consumer knowledge towards new
innovations in the field of aquaculture additives, and increasing demand for
new & unique taste. Increasing inclination of the consumers towards the
healthy diet, and increasing applications in the nutrition industry is also
increasing the growth of the market in this region.
However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to the favorable climatic condition and ease of resource availability. Increasing demand of aquaculture additives in petrochemical industry and increasing awareness regarding health and fitness is increasing the growth of the market in this region.
Aquaculture Additives Market Drivers
Increasing Demand for Seafood
Increasing demand for seafood is increasing the growth of the Aquafeed Additives Market. There are various product types of aquaculture additives such as amino acids, antibiotics, vitamins, feed acidifiers, and phytogenic among others. Increasing usage of aquaculture additives in feeding fishes along with the increasing availability of the various types of additives are increasing the growth of the market. Increasing consumption of seafood by consumers is directly proportional to the increasing demand for the plant based fish feed. Thus, increasing the growth of the Aquafeed Additives Market during the forecast period 2021-2026.
Increasing Consumption of Nutritional Food
Increasing
consumption of nutritional foods is increasing the growth of the Aquafeed Additives Market. This is owing to their nutritional and
health beneficial properties. It is widely used owing to its antioxidant and
anti-inflammatory effect. Some of the potential health benefits associated with
aquaculture additives include reduction in inflammation, destroying cancer cells,
controlling blood sugar, and prevention of heart disease. Thus, increasing the
growth of the Aquafeed
Additives Market during the
forecast period 2021-2026
Aquaculture Additives Market Challenges
Lack of Awareness Regarding the Proper Use of Additives and Fluctuating Cost of the Raw Materials
Some of the factors that are set to impede the growth of the Aquafeed Additives Market are lack of awareness regarding the proper use of additives and
fluctuating cost of the raw materials. Stringent government regulations is also
set to hinder the growth of the market during the forecast period 2021-2026.
Aquaculture Additives Market
Landscape
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Aquafeed Additives Market. In 2020, the Aquafeed Additives Market share is consolidated by the top ten players present in the market. The Aquafeed Additives Market, top 10 companies are Alltech Inc, Neovia, Novus International Inc., Biomar, Aller Aqua, Biomin Holding GmbH, and Norel S.A. among others.
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LIST OF TABLES
LIST OF FIGURES
1.US Aquaculture Additives Market Revenue, 2023-2030 ($M)2.Canada Aquaculture Additives Market Revenue, 2023-2030 ($M)
3.Mexico Aquaculture Additives Market Revenue, 2023-2030 ($M)
4.Brazil Aquaculture Additives Market Revenue, 2023-2030 ($M)
5.Argentina Aquaculture Additives Market Revenue, 2023-2030 ($M)
6.Peru Aquaculture Additives Market Revenue, 2023-2030 ($M)
7.Colombia Aquaculture Additives Market Revenue, 2023-2030 ($M)
8.Chile Aquaculture Additives Market Revenue, 2023-2030 ($M)
9.Rest of South America Aquaculture Additives Market Revenue, 2023-2030 ($M)
10.UK Aquaculture Additives Market Revenue, 2023-2030 ($M)
11.Germany Aquaculture Additives Market Revenue, 2023-2030 ($M)
12.France Aquaculture Additives Market Revenue, 2023-2030 ($M)
13.Italy Aquaculture Additives Market Revenue, 2023-2030 ($M)
14.Spain Aquaculture Additives Market Revenue, 2023-2030 ($M)
15.Rest of Europe Aquaculture Additives Market Revenue, 2023-2030 ($M)
16.China Aquaculture Additives Market Revenue, 2023-2030 ($M)
17.India Aquaculture Additives Market Revenue, 2023-2030 ($M)
18.Japan Aquaculture Additives Market Revenue, 2023-2030 ($M)
19.South Korea Aquaculture Additives Market Revenue, 2023-2030 ($M)
20.South Africa Aquaculture Additives Market Revenue, 2023-2030 ($M)
21.North America Aquaculture Additives By Application
22.South America Aquaculture Additives By Application
23.Europe Aquaculture Additives By Application
24.APAC Aquaculture Additives By Application
25.MENA Aquaculture Additives By Application
26.Alltech, Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.BioMar A/S, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Cargill, Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Ridley Corporation Limited, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Norel S.A., Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Aller Aqua A/S, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Beneo GmbH, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Cermaq Group AS, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Dibaq A.S., Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Addcon GmbH, Sales /Revenue, 2015-2018 ($Mn/$Bn)
36.Archer Daniels Midland Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
37.BASF SE, Sales /Revenue, 2015-2018 ($Mn/$Bn)
38.Biomin Holding GmbH, Sales /Revenue, 2015-2018 ($Mn/$Bn)
39.Skretting A.S., Sales /Revenue, 2015-2018 ($Mn/$Bn)
40.DSM, Sales /Revenue, 2015-2018 ($Mn/$Bn)
41.Evonik Industries AG, Sales /Revenue, 2015-2018 ($Mn/$Bn)
42.NEOVIA, Sales /Revenue, 2015-2018 ($Mn/$Bn)
43.Novus International, Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
44.De Heus Animal Nutrition B.V., Sales /Revenue, 2015-2018 ($Mn/$Bn)
45.Nutriad International NV, Sales /Revenue, 2015-2018 ($Mn/$Bn)
46.Avanti Feeds Ltd., Sales /Revenue, 2015-2018 ($Mn/$Bn)
47.NK Ingredients Pte Ltd., Sales /Revenue, 2015-2018 ($Mn/$Bn)
48.Bentoli, Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)