Global aquaculture additives market is expected to reach to USD 1,656.7 Million by 2025 at a CAGR of 4.0% during the forecast period from 2018-2025. Rising consumption of seafood due to increasing awareness regarding the health benefits associated with the additives to promote fish development is stimulating the market demand.
Farming of mollusk, aquatic plants, fish, algae, crustaceans, and other aquatic organisms is termed as aquaculture. It includes growing seawater and freshwater aquatic organisms under controlled conditions so as to get high production output. Aquaculture additives are chemical compounds which helps to boost up the immunity of the organisms, protect aquatic animals from infection and offer basic nutrients to aquatic organisms. They contains energy and nutrient sources which are important for fish growth and health. They act as a food supplements for aquatic animals to enhance feed quality, thus augmenting the animal growth performance and health. Growing fish consumption along with consumer awareness towards health benefits is driving industry growth.
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- The base year for the study has been considered 2017, historic year 2015 and 2016 and, the forecast period considered is from 2018 to 2025. The aquaculture additives market is analysed on the basis of value (USD Million) and volume (Tonnes).
- The study delivers a comprehensive analysis of global aquaculture additives market by product, applications and regions.
- The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2018 to 2025.
- Porter’s Five Forces model is used in order to recognize the competitive scenario in the global aquaculture additives market. This report incorporates the applications analysis which is focused on providing an extensive view of the aquaculture additives market.
- The study also includes attractiveness analysis of product, applications and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
- The report provides company profile of the key players operating in the aquaculture additives market and a comparative analysis based on their business overviews product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
- The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.
- Rising consumption of seafood stimulates market demand.
- Supportive government regulations and standards regarding the usage of insect protein in the product
- Increase in disposable income increases the market size.
- Rising consciousness regarding the health benefits associated with the additives to promote fish development.
- Stringent environmental regulations regarding the fish catching process may hinder industry growth
- Fluctuation in prices of raw materials is projected to hamper the market.
- Rising production along with growth of fisheries will drive the overall growth in fish production, thereby resulting in increased product demand.
- Constraints related to effluent discharge and access to freshwater.
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Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. TheAsia Pacific region is dominating the market with the highest share in 2017.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.
The major players of market include 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.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.
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