Global Aquafeed Additives Market Report 2024, Forecast To 2033
14 Feb, 2024
The aquafeed additives market has exhibited strong growth, rising from $1.63 billion in 2023 to $1.76 billion in 2024, reflecting a 7.8% compound annual growth rate (CAGR). This growth is attributed to the expanding aquaculture industry, nutritional requirements, and health management. Projected to see strong growth, the market is expected to reach $2.32 billion in 2028, boasting a 7.1% CAGR. Contributing factors include population growth, environmental sustainability, regulatory changes, and global economic trends. Key trends include research and development, sustainable practices, alternative proteins, functional feed ingredients, digitalization in precision aquaculture, and customization in formulations.
Global Aquafeed Additives Market Key Driver
The aquafeed additives market is poised for growth with the rising consumption and demand for seafood. Consumer preference for seafood, especially exotic marine species like shrimp and oysters, boosts seafood demand. The Organization for Economic Cooperation and Development predicts a 16.3% increase in seafood consumption by 2029, driving the aquafeed additives market.
Get A Free Sample Of The Global Aquafeed Additives Market ReportGlobal Aquafeed Additives Market Segments
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
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North Americawas 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
Major Aquafeed Additives Industry Players
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
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Aquafeed Additives Market Overview
Aquafeed additives refer to a substance that is used for improving the quality of aqua species by protecting the physical and chemical quality of their diet. It is a nutritive/non-nutritive ingredient provided in a small amount. Aquafeed additives are high in protein and omega-3 fatty acids, boosting the nutritional value of the feed and giving benefits such as a higher growth rate, feed conversion, and a more robust immune system.
Aquafeed Additives Global Market Report 2023 provides data on the global aquafeed additives market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The aquafeed additives market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.