As per the report published by Fior Markets, The global aquaculture additives market is expected to grow from USD 1,212.3 Million in 2017 to USD 1,656.7 Million by 2025 at a CAGR of 4.0% during the forecast period from 2018-2025.Asia Pacific is dominating the market. Increase in aquaculture activities in the region due to plentiful availability of land along with favorable climatic conditions has resulted in a significant growth in demand for aquafeed.
Aquaculture Additives Market by Product (Amino Acids, Antibiotics, Vitamins, Feed Acidifiers,Anesthetic& Sedation Materials, Anti-Parasitics,Others), Applications,Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025.
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Leaders in the industry Biomar, Ridely, Aller Aqua, and Archer Daniels Midland Company (ADM); BASF SE; Biomin Holding GmbH; Skretting A.S.; DSM; Evonik Industries AG; NEOVIA; Novus International, Inc.; De Heus Animal Nutrition B.V.; Nutriad International NV; Avanti Feeds Ltd.; NK Ingredients Pte Ltd.; and Bentoli, Inc.among otherswhich are offering greater opportunities and major players are continuously focused on new product developments and venture capital investments to obtain market share.Various companies likeAirbus, Under Armour and Stanley Black & Decker, are using Aquaculture Additives to solve engineering challenges and come up with complete fresh and innovative design solutions. For instance, in January 2018, Cargill, Inc. opened a feed mill dedicated to the fish species in Andhra Pradesh, India. The facility, with a total capacity of over 90,000 tons annually, is anticipated to enable the company to increase its fish feed capacity threefold in the country.
The product segment is classified into amino acids, antibiotics, vitamins, feed acidifiers, anesthetic& sedation materials, anti-parasitics, and others. The amino acids are dominating the market and valued around USD 378.23 million in 2017. Proteins are crucial ingredients for a healthy growth rate of fish. Fish and prawns are incapable of synthesizing proteins into amino acids including threonine, tryptophan, methionine, lysine, valine, and arginine. The applications segment is segmented into carp, mollusks, salmon, shrimps, tilapia, catfish, sea bass, trout, and others. The crustaceans are dominating the market with the highest share of 29.60% in 2017. Crustaceans are aquatic species and live both in marine and freshwater environments, while some have adapted to life on lands such as crabs. They provide a major share of omega fatty acids, vitamins, minerals and excellent source for amino acids including methionine, leucine, histidine, threonine, and valine, thereby driving the industry growth.
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Increasing consciousness regarding the health benefits associated with the additives to promote fish development and government regulations and standards regarding the use of insect protein in the product are two factors estimated to drive the aquaculture additives market during the forecast period. Also, the rise in disposable income increases the market size will drive both demand to produce higher-quality goods. But stringent environmental regulations regarding the fish catching process which may obstruct the growth of the market. However, rising production along with the growth of fisheries will drive the overall growth in fish production, thereby resulting in increased product demand which may boost up the market in coming years.
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