Aquafeed & Aquaculture Additives Market Size

Aquafeed & Aquaculture Additives Market Size

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.