Global Aquaculture Additives Market – Industry Trends and Forecast to 2029

Global Aquaculture Additives Market Analysis and Size

With the rising focus of aquaculture farming, i.e. farming of mollusc, aquatic plants, algae, fish and other aquatic organisms. Aquaculture additives enhance the quality of the feed and therefore improve the animal growth and performance.

• Data Bridge Market Research analyses that the aquaculture additives market is expected to undergo a CAGR of 4.37% during the forecast period. This indicates that the market value, which was USD 1.23 billion in 2021, would rocket up to USD 1.73 billion by 2029. “Amino Acids” dominates the product segment of the aquaculture additives market owing to the rising number of product innovations in the aquaculture feed. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.

Global Aquaculture Additives Market Definition

From the name itself, it is clear that aquaculture additives are chemical compounds that enhance the immunity of the organisms in the aquatic bodies, protect them from infections and fulfil the basic nutritional requirement in aquatic animals. Aquaculture additives are rich source of nutrients and energy.       

Report Scope and Market Segmentation

Aquaculture Additives Market Dynamics

Drivers

• Rising demand for protein rich products

Growing demand for fish and fish related products globally is one of the major factor fostering the growth of the market. In other words, rising consumption of fish due to the rich source of protein and vitamins is bolstering the growth of the market.   

• Research and development proficiencies

Rising expenditure for research and development proficiencies especially in the developed and developing economies will further create lucrative market growth opportunities. Research and development proficiencies being conducted to study the effects of aquaculture additives on the immunity system is also bolstering the market growth rate.

• Growing awareness about the benefits

Surging awareness about the benefits of aquaculture additives is fostering the growth of the market. Rising number of patients suffering from cardiovascular diseases along with help in the development of foetus. It improves cognitive development in foetus and children, and reduces the levels of fat in the body, thereby minimizing the risks associated with obesity. This is yet another important market growth determinant.   

Opportunities

Furthermore, upsurge in the public-private funding for target research activities, changing lifestyle of individuals, growing prevalence of obesity, rising geriatric population base and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period of 2022 to 2029. Additionally, rising personal disposable income and rising advancements in amino acid nutrition technology will further expand the market's growth rate in the future. 

Restraints/Challenges Global Aquaculture Additives Market

On the other hand, high cost associated with the research and development proficiencies is expected to obstruct market growth. Stringent environmental regulations imposed on fishing and volatility in prices of raw materials may hamper the growth of the cold pressed juice market. Large scale availability of cheap alternatives by the local manufacturers and pricing pressure on vendors in the market are projected to challenge the market in the forecast period of 2022-2029.

This aquaculture additives market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the aquaculture additives market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Aquaculture Additives Market

COVID-19 had a negative impact on the market. Though there is rising health awareness among the individuals in the pandemic era, the decreased consumption rate of fish and fish related products owing the food sector being grievously hit by the pandemic has created hindrances in the way of the growth. Travel restrictions were led to shutdown of the fishing activities. The manufacturers are facing problems as the raw materials supply has been affected due to lockdown of international boundaries. However, supply chain disruptions created challenges for the transportation and distribution of the products. Also, restrictions imposed on the movement further created hindrances.   

Recent Development

•  In February 2021, Kemin Industries launched a new product named KemTRACE Chromium-OR, an organic compliant chromium propionate feed ingredient for swine, cattle, broiler, and horse diets.
• In July 2020, ADM launched NutriPass L, an encapsulated lysine supplement that is rumen-stable and intestinally available to cows. Through effective encapsulation, NutriPass supplies a consistent and stable supply of metabolizable lysine for lactating cows and growing cattle.
• In February 2021, Alltech and DLG Group came together to focus on delivering profitability and efficiency to livestock producers in Scandinavia. Both the companies are finalizing the purchase of the Finnish company, Kärki-Agri.
• In November 2020, Evonik expanded its customer service offering for its animal nutrition customers by introducing a new digital portal called ‘myAMINO.’ Through this portal, the company has brought together its digital customer activities and services and added two web stores. It would help the company to strengthen its animal nutrition business.

Global Aquaculture Additives Market Scope

The aquaculture additives market is segmented on the basis of product and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Amino Acids
• Antibiotics
• Vitamins
• Feed Acidifiers
• Anesthetic and Sedation Materials
• Anti-Parasitics
• Others

On the basis of product, the aquaculture additives market is segmented into amino acids, antibiotics, vitamins, feed acidifiers, anesthetic and sedation materials, anti-parasitics, and others.

Application

• Carp
• Mollusks
• Salmon
• Shrimps
• Tilapia
• Catfish
• Sea Bass
• Trout
• Others

Based on application, the aquaculture additives market is segmented into carp, mollusks, salmon, shrimps, tilapia, catfish, sea bass, trout, and others.

Aquaculture Additives Market Regional Analysis/Insights

The aquaculture additives market is analysed and market size insights and trends are provided by country, product and application as referenced above.

The major countries operating in the aquaculture additives market are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

Asia-Pacific dominates the aquaculture additives market due to the increasing production of aquaculture and aqua feed in a favourable climatic condition along with prevalence of cheap labour while North America will expect to grow in the forecast period 2022 to 2029 because of the prevalence of government as well as private support in the expansion of aquaculture.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Aquaculture Additives Market Share Analysis

The aquaculture additives market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to aquaculture additives market.

Some of the major players operating in the aquaculture additives market are:

• Cargill, Incorporated (US)
• ADM (US)
• Evonik Industries AG (Germany)
• DuPont (US)
• BASF SE (Germany)
• DSM (Netherlands)
• Ajinomoto Co., Inc. (Japan)
• Novozymes (Denmark)
• Chr. Hansen A/S (Denmark)
• TEGASA (Spain)
• Nutreco (Netherlands)
• Kemin Industries Inc. (US)
• Adisseo (France)
• Alltech (US)
• Palital Feed Additives B.V (Netherlands)
• Global Nutrition International (France)
• Centafarm SRL (Italy)
• Bentoli (US)
• NUQO Feed Additives (France)
• Novus International, Inc. (US)

Research Methodology : Global Aquaculture Additives Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-aquaculture-additives-market

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