The aqua feed additives market is estimated to surpass US$ 1.6 billion in 2022, and is predicted to reach US$ 2.7 billion by 2032, with a CAGR of 5.5 percent from 2022 to 2032.
Some of the key factors driving the rise of the aqua feed additives market share are growing worries about receiving the right vitamin and mineral additives for aquatic animals.
As individuals become more aware of premixes, the demand for aqua feed additives has increased. As a result of the increased demand for mineral-rich aqua feed additives, companies are seeing an increase in sales of aqua feed additives.
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Increased understanding of bioavailability in these compounds is another important driver of the aqua feed additives market size. As a result, aquafeed additives manufacturers are increasing production of direct mineral supplements to suit end-user demand.
The trade of fish and aquaculture products plays a significant role in expanding fish consumption and building a global market for aqua feed additives by connecting various worldwide suppliers and manufacturers.
As adaptive pathogens can be infected by a variety of stress factors, including poor nutritional status, sales of aqua feed additive are on the rise.
Antibiotics are also used to treat diseases such as red pest disease, which drives up demand for aqua feed additives around the world.
The growing demand for high-protein diets is presenting excellent growth opportunities for the aqua feed additives market, particularly in emerging economies like Brazil, India, and China, where per capita income is rapidly rising, resulting in increased sales of aqua feed additives.
Key Takeaways from the Aqua Feed Additives Market Study:
- The US is estimated to account for more than 60% of the North American market in 2022, due to the rising in seafood consumption.
- The aqua feed additives market in the United States is predicted to grow at a CAGR of 2.6 percent from 2016 to 2032, reaching a market size of US$ 0.1 billion.
- Due to a considerable availability of raw materials and the presence of large-scale companies, Egypt has a strong demand for aqua feed additives.
- According to FMI, the aqua feed additives market in India is worth US$ 1.4 billion and is predicted to grow at a CAGR of 7.2 percent through 2032.
“Key market players are investing much in R&D in order to introduce new products and obtain a competitive advantage. Companies are also pursuing tactics such as collaboration, acquisitions, mergers, and partnerships in order to extend their client base and increase revenues.”- Lead Analyst at FMI.
Competition Landscape of Aqua Feed Additives Market
Key players operating in the global aqua feed additives market are focusing on reaching a large consumer base by implementing various strategies such as product innovations, marketing & promotional activity, strengthening distribution channels, and adopting sustainable production.
Some of the leading companies in aqua feed additives market are Cargill, Inc., NK Ingredients Pte. Ltd., Beneo GmbH, Dibaq A.S., Nutreco N.V., Evonik Industries, Biomar A/S, Growel Feeds, Coppens International B.V., Aker Biomarine and others.
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Recent Developments in Aqua Feed Additives Market:
- ADM purchased Neovia (formerly known as InVivo NSA) (France) in January 2019 for USD 1.82 billion (Euro 1.54 billion). This acquisition would give ADM a strong foundation on which to build future expansion.
- In November 2018, Cargill invested USD 70 million in Thailand to provide new technologies to the country’s aquaculture and poultry industries.
- In June 2017, Nutreco completed the acquisition of Hi-Pro Feeds LP (Canada). The acquired company’s global brand, Trouw Nutrition, would be used to market the acquired company.
Get Valuable Insights into Aqua feed additives Market
FMI, in its new offering, provides an unbiased analysis of aqua feed additives presenting historical demand data (2017-2022) and forecast statistics for the period from (2022-2032).
The study divulges compelling insights on the demand for aqua feed additives based on additives type (amino acids, vitamins, minerals, antibiotics, acidifiers, binders, antioxidants, prebiotics, palatants, and others), by species type (crustaceans, catfish, salmonids, carp, tilapia, mollusks, and mullet), by ingredient (corn, soybean, fish oil, peas, sunflower seed, others) across five major regions.
About the Food & Beverage Division at Future Market Insights
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.