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Aquafeed & Aquaculture Additives Market size worth over USD 117 billion by 2030

  • Published Date: June 29, 2022

 According to a new research report by Global Market Insights Inc., the Aquafeed & Aquaculture Additives Market size is set to surpass USD 117 billion by the end of 2030.

Aquafeed formulations are produced by adding vegetable proteins, vitamins, minerals, and cereal grains and serve as healthy diets for various aquatic animals such as crustaceans, carp mollusks, salmon, catfish, tilapia, and others. In other words, they are feed given to aquatic farmed animals as a part of aquaculture in order to ensure healthy growth and achieve a more sustainable aquaculture.

Aquaculture additives are chemical compounds used to enhance immunity, boost growth, provide basic nutrients and protect the aquatic animals from infection. These are mainly required to overcome the mineral deficit in aquafeed and complete the overall diet of aquatic animals. Rising disposable income and increasing urbanization has resulted in growing demand for seafood which should stimulate market growth.

Growing aquaculture industry worldwide led to increasing production of fish, in turn, is projected to boost the growth of aquafeed and aquaculture additives market during the stipulated timeframe. The rising global population has resulted in an increase in the consumption of animal protein. Various countries such as China, Indonesia, Norway, India, Australia, UK, and Singapore are investing heavily on aquaculture infrastructure and boosting up the fishery resources.

Increasing prevalence of aquaculture diseases should enhance the requirement of antibiotics additives in aquaculture

The antibiotics product of the aquafeed & aquaculture market surpassed USD 305 million in 2021 and should grow at a rate of 3.5% CAGR during the forecast period. Antibiotics aid in the promotion of all-round growth by providing better health in crowded conditions, maximizing productivity and preventing the occurrence of diseases in aquaculture animals.

The excessive use of antibiotics may create an antibody for the species & medical conditions deemed untreatable. The development of antibiotic resistance bacteria in aquaculture should result in the formulation of regulations by countries to limit the use of antibiotics in feed and additives. Innovations in medical technologies have attributed to the development of alternatives and plant-based antibiotics.

High protein content and associated health benefits are expected to drive the aquafeed & aquaculture additives market from carp

The aquafeed & aquaculture additives market from the carp end- is anticipated to cross USD 27 billion in the stipulated timeframe, indicating over 7% gains. Carps are a viable source of protein, containing low fats and high omega-3 fatty acids that protect heart health. Moreover, calcium or iron deficiencies, which affect the immune system, can also be cured by carp consumption, which in turn should drive the aquafeed & aquaculture additives market.

The rise in global geriatric population, unhealthy diets, and tobacco consumption has increased the occurrence of cardiovascular diseases. This should be a key factor which may lead to increase in the consumption of carps in human food.

Browse key industry insights spread across 335 pages with 402 market data tables and 56 figures & charts from the report, “Global Aquafeed & Aquaculture Additives Market Size by End-use (Crustaceans, Mollusks, Carp, Salmon, Catfish, Tilapia), By Product (Amino Acids, Antibiotics, Vitamins, Feed Acidifiers)” in detail along with the table of contents:

Available reserves of insect-based protein and growing market for processed and fast foods in the region should boost the Europe aquafeed & aquaculture additives market

Europe industry was valued at USD 10 billion in 2021 with a projected CAGR of around 5% by the end of the forecast timeframe. The recent approval of insect-based proteins for aquaculture by the EU for manufacturers complying with the hygiene & safety standards should drive product demand.

In addition, changes in the consumer preference of ready-to-eat food products and rising disposable income levels of consumers should propel the regional aquaculture industry expansion. The growing processed and fast-food market in the region, high consumption of seafood products, and the increasing adoption of supplements made from aqua animals should propel the regional aquaculture industry growth as well as expand the aquafeed & aquaculture additives market size.

The aquafeed & aquaculture additives industry include various key players such as AG, Growel Feeds, Dibaq AS, NK Ingredients Pte Ltd, Alicorp, Avanti Feeds Ltd, Skretting, Nutriad International, De Heus Animal Nutrition and Purina Animal Nutrition LLC. The companies are focusing on expanding R&D infrastructure and merger & acquisition strategies for driving the market.

Authors: Kunal Ahuja, Sarita Bayas

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