Aquafeed Market Size By Application (Crustaceans, Mollusks, Carp, Salmon, Catfish, Tilapia), Aquaculture Additives Market Size By Product (Amino Acids, Antibiotics, Vitamins, Feed Acidifiers), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 - 2023

Published Date: June 2016 | 90 Pages | Report ID: GMI495 Report Format: PDF

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Summary Table of Contents Industry Coverage Methodology

Industry Trends

Global Aquafeed Market size was over 46 million tons in 2015, and is forecast to grow at more than 11% CAGR up to 2023. Global aquaculture additives market size was worth over USD 900 million in 2015, with estimated gains at 4.1% CAGR from 2016 to 2023.

North America aquafeed market size, by end-use, 2012-2023 (Kilo Tons)
North America aquafeed market size, by end-use, 2012-2023 (Kilo Tons)

Global direct human fish consumption was above 138.00 million tons in 2015 and proejected to surpass 205 million tons by 2023, growing at over 4% CAGR up to 2023. Increased fish consumption owing to consumer awareness pertaining to health benefits is among the key trending factors to stimulate aquafeed & aquaculture additives industry.

As per industry estimation approximately 72% of the global fish harvested is used as food. Increasing per-capita disposable income along with growth in nutritional product demand are encouraging factors to propel direct fish consumption.

Reduces cardiovascular diseases risks, cognitive development improvisationin fetus & children, and reducing fat levels in the body are the key lucrative factor to drive industry growth. Increased fish availability in retail market accompanied by changing food consumption habbit is another lucrative factor to propel aquafeed market growth.

Omega-3 fatty acids mainly derived from salmon, tuna, cod liver whale blubber, and seal blubber. Increasing consumer demand for natural health supplements due to rising awareness may drive aquafeed demand. Rising cardiovascular diseases & health issues including diabetes is another factor to fuel industry growth.

Furthermore, LC-omega 3 consumption, which is obtained from from wild & farmed fish or encapsulated fish oil, helps in maintaining cardiovascular health, Crohn’s disease asthma, eczema and psoriasis.

Aquaculture deals in breeding and rearing of aquatic species which includes carps, mollusks, , salmons, catfish and trout. They are farmed in fresh, brackish, amrine and fresh water. Aquafeed is commercialcially meant for direch fish consumption. These feeds are include additives such as amino acids, antibiotics and vitamins ifor improving fish health and improve yield. The contents of the feed can be changed depending upon the climate and species type.

Increasing fish meal & fish oil demand from pharmaceuticals and other applications has tightened supply for fish feed application. Conventionally, fish meal & fish oil were used in the aquafeed production, however, surging ingredients prices due to scarcity of fish which is capctured and may affect aquafeed market price trend.

Aquafeed Market, By End Use

Carps dominated the global aquafeed market and was valued at over USD 21.5 billion in 2015.

Increasing importance in food & beverage industry due to reducing cholesterol levels properties should increase farming activities meant for carps. Carps penetration is increasing in rice paddies for feeding insects to improve agricultural yield.

Atlantic salmon are the most commercially farmed owuing to ease in farming techniues.  Recently, its farming has shown increasing signs of growth in Chile and Norway. Its consumption helps in improving metabolism and strengthen hearth and muscle activities.

Aquafeed Market, By Product

Amino acids dominated the aquaculture product segment and was worth more than USD 250 million in 2015. Amino acids are used for improving mineral absorption, maintain fish metabolism. Key aquaculture additives include, lysine, tryptophan, methionine and thrionine.

European Commission  also regulates to promte plant based growth regulators which is likely to boost product demand.

Feed acidifiers is projected to grow at the highest rate, increasing at over 6% CAGR from 2015 to 2023. FDA restriction on using antibiotics usage and promote livestock production should drive feed acidifiers market growth.

Aquafeed Market, By Region

APAC aquafeed market size was the dominant regional industry and was valued at over USD 49 billion in 2015. Aquaculture production expansion in China accompanied by growth in  salmon farming due to easy farming techniques, species hardiness and ability to grow within land based farm systems should promote aquafeed market size growth.

Increasing seafood demand particularly fish meal in Thailand and Vietnam south promote aquaculture farming in South East Asia countries and promote aqauafeed market size.

Europe is set to grow at more than 11.5% CAGR up to 2023. Aquacuture industry expansion in Nordic countries such as Denmark and Norway should drive regional industry growth. Mussels are gaining popularity for consumption of low cost proteins should drive product demand.

Competitive Market Share

Global aquafeed market share is moderately fragmented due to presence of numerous participants presence. Biomar,Alltech, Addcon, Aller Aqua, Ridley,Dibaq Aquaculture, Cargill Inc, and Biomin are the key industry players.

Other industry participants includes Norel Animal Nutrition, Beneo, Cermaq ASA, Archer Daniel Midland, BASF SE, Skretting, DSM, Evonik, InVivo NSA, Novus International, De Heus, Nutriad International, Avanti Feeds, NK Ingredients Pte, and EWOS.

Aquafeed Industry Background

Key raw materials for manufacturing aquafeed include, fish oil, fish meal, corn, soybean and wheat. Increasing raw materials demand from DHC, industrial and healthcare and industrial processes for biofuel production may result in supply demand deficit. Also, fish oil prices based in Peru has witnessed an increase in prices owing to farming restrictions.

Aquacuture industry growth have promted industries to expand their regional precsence. In September 2013, Aller Aqua established a new R&D to perform relevant studies to introduce new product portfolio in order to gain competeitive advantage over its competitors.. Norel In Novenber 2012, Acuanox launced an ethoxyquin free antioxidant for aquaculture aaplications.

Alltech, Ridley an Cargill procure raw materials for different raw material grades for numerous species which are then manufactured as feed and supplied via different agents and distribution channels. Long term suppy agreements are mosty observed in the industry with the end-users.


What Information does this report contain?

What was the historic market data from 2012 to 2015, what is the industry growth forecast from 2016 to 2023?
A detailed analysis of regulatory trends, growth drivers, industry pitfalls, challenges and opportunities for participants
Which are the leading market products, applications & regions and how will they perform by 2023?
What are the technology & innovation trends, how will they evolve by 2023?
Which companies lead the industry, how are they positioned in the market in terms of sustainability, competency, production capacity and strategic outlook?

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