Global Aquafeed & Aquaculture Additives Market Size, Share and Industry Analysis Report by End-use (Crustaceans, Mollusks, Carp, Salmon, Catfish, Tilapia) and Product (Amino Acids, Antibiotics, Vitamins, Feed Acidifiers), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030

Industry Overview

Aquafeed and Aquaculture Additives Market size exceeded USD 66.5 billion in 2021 and is projected to grow at a CAGR of over 7% between 2022 and 2030 owing to the presence of favorable government policies regarding food security and nutrition. Increasing fish consumption on account of the higher availability of fish worldwide is expected to boost the market growth.
 

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Aquafeed & aquaculture additives are diets and supplements that are fed to aquatic animals such as fishes & crustaceans for delivering a complete nutritious diet. Aquaculture additives mainly include amino acids, antibiotics, vitamins, and feed acidifiers. These are responsible for the improvement of feed quality and the subsequent enhancement of animal growth performance & health.
 

The rising seafood consumption worldwide is a major factor driving the aquafeed & aquaculture additives market share. Additionally, growing population and increasing disposable income of consumers are further enhancing the consumption trends which is likely to drive the market size during the forecast period.
 

Favorable government regulations and standards such as the approval of insect protein usage in aquafeed is expected to stimulate industry growth. Insects are a natural and sustainable source of high-quality protein for aquafeed & aquaculture industry. The promising effects of the application of insect proteins as a feed ingredient for aquaculture with respect to growth and quality is a key factor driving market growth.
 

Significant health benefits towards fishes are anticipated to boost the demand for amino acids

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The amino acids market is expected to witness a substantial growth reaching beyond USD 587.5 million by 2030 at a CAGR of more than 4.5%. Higher consumption of amino acids as a feed ingredient in the aquaculture industry is a key factor attributing to the aquafeed & aquaculture additives market growth. Proteins are vital ingredients which aid in healthy metabolism & high growth rates in fishes and prawns.
 

Fishes and prawns are unable to synthesize proteins into amino acids such as valine, arginine, lysine, phenylalanine, threonine, tryptophan, methionine, and others. Thus, it is required for producers to add sources of protein to aquafeed for enhancing the health and growth rates of fishes. The major sources of amino acids used in aquafeed & aquaculture include pea and soy.
 

Moreover, the minimum diet requirement for fishes to grow at an optimal rate is around 30-55% of crude protein concentrate. The role of amino acids in fish diet is to work as a basic unit for protein synthesis. The increasing application of amino acids in fish diets owing to its multiple health benefits is expected to boost the aquafeed & aquaculture additives amino acids market size.
 

Growing consumer inclination towards protein-rich diets is anticipated to propel product demand from crustaceans end-use

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The crustaceans market was valued at around USD 6.5 billion in 2021 and is expected to grow at a CAGR of above 7.5% from 2022 to 2030. Crustaceans provide a major share of omega fatty acids, vitamins, and minerals and they are an excellent source of amino acids including methionine, leucine, histidine, threonine, and valine.
 

The rich protein content in crustaceans is a key factor responsible for the rise in cultivation and increasing product demand from the food processing industry. Crustaceans are aquatic animals that have the ability to survive in both marine & freshwater environments. The rising demand for protein-rich diets is a major factor attributing to the growth of the aquafeed & aquaculture additives market revenue.
 

Moreover, the application of  shells of crabs and some other crustaceans in treating & preventing inflammatory diseases should boost its demand from the medical industry. The growing geriatric population and unhealthy eating habits globally has attributed to numerous health disorders. This factor is expected impact the aquafeed & aquaculture additives market sales during the forecast period.
 

Significant expansion of aquaculture sector is expected to fuel the business growth in Asia Pacific

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The Asia Pacific aquafeed & aquaculture additives market is expected to go beyond USD 75.5 billion by 2030 and grow at a CAGR of more than 6.5% during the forecast period. Factors such as resource availability, inexpensive labor, and ambient environmental conditions for an exponential growth rate in aquaculture are driving market growth.
 

Improvements in cultivation technology along with the rising per-capita consumption patterns of aquatic products should lead to the fishery industry expansion in the region. The growing working population, increasing consumer income levels, and awareness regarding the benefits of protein rich diets should fuel the demand for processed seafood products in the region.
 

Additionally, the recent political instability has led to a decline in imports by the U.S. This in turn creates an opportunity for other countries, such as Thailand and Vietnam, to meet the supply deficit in Europe and North America. Thus, it is a major factor expected to boost the Asia Pacific market growth for aquafeed & aquaculture additives. Increasing government focus of government towards supporting the growth of aquaculture sector in China and India is driving the business growth.
 

Expansion in R&D facilities and strategic partnerships, mergers & acquisitions to be key business strategies adopted by key players

The global aquafeed & aquaculture additives industry share is highly fragmented due to the presence of various industrial participants. Major companies are involved in strategic partnerships and expansion of research & development activities in order to boost competition in the market. Some of the major key players include Biomar, Alltech, DSM, BASF, Ridley, Evonik, Cargill Inc, Beneo GmbH, Novus International, and others. The companies in the market are showing keen interest in capacity expansion and mergers & acquisitions to enhance the business.
 

In May 2022, Biomar A/S acquired intelligent shrimp feeding technology provider AQ1 Systems. This strategic initiative will help Biomar A/S to provide advanced intelligent feeding systems for shrimp farmers.
 

In September 2021, Alltech announced expansion of its Alltech Coppens Aqua Centre (ACAC research facility by 50%. The expansion will help Alltech focus on new recirculating aquaculture system (RAS) feed which will help in increasing profitability of fish farmers.
 

In June 2020, DSM and North Carolina State University entered in a collaboration for 10 years for research in three functional areas, animal gut health, precision nutrition, and data driven decision making for animal health. This collaboration will help the company to diversify its product portfolio, improve brand image, and strengthen market share.
 

The aquafeed & aquaculture additives market report includes in-depth coverage of the industry with estimates & forecast in terms of volume (Kilo Tons) and revenue in USD (Million) from 2022 to 2030 for the following segments:

By End-Use

• Crustaceans
• Mollusks
• Carp
• Salmon
• Catfish
• Tilapia
• Others

By Product

• Amino acids
• Antibiotics
• Vitamins
• Feed acidifiers
• Others

The above information has been provided for the following regions:

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Norway
  • Poland
  • Netherlands
  • Denmark
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • Vietnam
  • Indonesia
  • Thailand
  • Malaysia
• Latin America
  • Brazil
  • Argentina
  • Chile
  • Peru
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE