Global Aquafeed Modifiers Market, By Species (Fish, Crustaceans, Mollusks, Other Species), Flavour (Blackcurrant Supreme, Crayfish and Thermidor, Creamy Vanilla, Hexed Cream, Indian Bun Spice, Maple, Tropical Fruit, Tutti Fruiti), Form (Extruded, Pellet, Liquid and Powder) – Industry Trends and Forecast to 2029
Aquafeed Modifiers Market Analysis and Size
Aquaculture has a long history dating back to the ancient era and there have been many recent developments in the aquaculture industry. Aquaculture practises began in 1990 when the construction of concrete tanks for fish farming began and the production expanded to meet market demand. Aqua feed modifiers are being introduced into the market to provide the necessary nutritional feeds.
Data Bridge Market Research analyses that the aquafeed modifiers market which was growing at a value of 3.15 billion in 2021 and is expected to reach the value of USD 4.41 billion by 2029, at a CAGR of 4.30% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, 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.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Species (Fish, Crustaceans, Mollusks, Other Species), Flavour (Blackcurrant Supreme, Crayfish and Thermidor, Creamy Vanilla, Hexed Cream, Indian Bun Spice, Maple, Tropical Fruit, Tutti Fruiti), Form (Extruded, Pellet, Liquid and Powder)
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Countries Covered
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U.S., Canada, Mexico in North America, Germany, 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)
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Market Players Covered
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Bayer AG (Germany), Cargill Incorporated (U.S.), BASF SE (Germany), Yara International (Norway), Compass Minerals (U.S.), Syngenta Crop Protection AG (Switzerland), ADAMA (Israel), Sumitomo Chemicals Co. ltd., (Japan), Nufarm Limited (Australia), UPL (India), K+S Group (Germany), Israel Chemical Company (Israel), Nutreco (Netherlands), Adisseo (France), Alltech (U.S.), Novus International (U.S.), Biomin (Austria), Impextraco NV (Belgium), Norel SA (Spain), Global Nutritech (Turkey)
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Opportunities
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Market Definition
Aquafeed modifiers is made up of compounded meals made from raw materials such as sunflower, corn, soybean, fish meal, and fish oil. The name implies that the feed is intended for consumption by aquatic species such as fish, shrimp, and crustaceans. These have a high nutritional content and a variety of growth-promoting properties.
Aqua feed Modifiers Market Dynamics
Drivers
- Rising investments and development in the aquaculture industries
Rising fish farming activities around the world as well as increased spending on research and development activities are driving the growth of the aqua feed modifiers market. Rising need and demand for compounded meals to maintain aquatic species' health as well as growing awareness about aquafeed modifiers are some other market growth determinants.
- Aquaculture as a form of livelihood
Global fish and aquaculture production has increased as a result of population growth, rising incomes in developing countries, and urbanisation. The increasing consumption of seafood at the expense of staple foods is positively related to income and consumption of animal protein. Global consumption of fish is increasing faster than the growing global population owing to rising incomes and urbanisation. Fisheries and aquaculture are becoming a major source of protein, foreign exchange, livelihoods, and population well-being around the world.
Opportunity
Manufacturers' increased emphasis on innovative product offerings combined with increased restrictions on animal-based food products will create even more lucrative growth opportunities for the aqua feed modifiers market. Furthermore, growing concerns about animal welfare have created a demand for aqua feed additives that improve aquatic animals' intestinal health and digestion. Manufacturers are raising awareness about the proper use of feed additives in order to avoid negative consequences during production.
Restraints
Volatility in raw material prices will be a restraint on the growth of the aqua feed modifiers market during the forecast period. Growing environmental and human health concerns will pose a significant challenge to market growth.
This aquafeed modifiers 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 aquafeed modifiers 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 Aquafeed Modifiers Market
The COVID-19 pandemic has slowed operations, resulting in staff shortages and new sanitary guidelines for fisheries and processing. Many countries consider the marine ingredients industry to be an essential part of the food supply chain, which explains why fishing and reduction operations have continued almost everywhere. Feed companies have ensured that farmers have the supplies they need to protect their animals' health and welfare while maintaining farm production levels. Growing fish demand has increased export-oriented aquaculture and the adoption of 'Scientific Aquaculture Management Practices' (SAMP).
Recent Development
- Skretting, a Nutreco company, will launch a new starter and grower feed for rainbow trout in December 2021, dubbed Nutra Sprint and Celero, respectively, to assist farms in reaching their full potential. Validation trials for the launched product revealed growth increases of up to 8% and an 8% decrease in Feed Conversion Ratio.
- In September 2021, Cargill announced a multi-year agreement with The Conservation Fund's Freshwater Institute to develop, evaluate, and improve feeds for the land-based aquaculture industry. The Institute can provide Cargill nutritionists and researchers with experience in recirculating aquaculture systems. The collaboration will improve the environmental and economic performance of land-based aquaculture by developing and testing feeds specifically for recirculating aquaculture systems.
Global AquaFeed Modifiers Market Scope
The aquafeed modifiers market is segmented on the basis of species, form, and flavours. The growth amongst these segments will help you analyse 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.
Species
- Fish
- Crustaceans
- Mollusks
- Other Species
Form
- Extruded
- Pellet
- Liquid
- Powder
Flavours
- Blackcurrant Supreme
- Crayfish and Thermidor
- Creamy Vanilla
- Hexed Cream
- Indian Bun Spice
- Maple
- Tropical Fruit
- Tutti Fruiti
Aquafeed Modifiers Market Regional Analysis/Insights
The aquafeed modifiers market is analysed and market size insights and trends are provided by country species, form, and flavours as referenced above.
The countries covered in the aquafeed modifiers market report are U.S., Canada, Mexico in North America, 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 region dominated the aquafeed market. This is due to the significant growth of the regional aquaculture sector. This expansion is due to the availability of cheap labour, favourable conditions for aquaculture growth, and the presence of natural resources in the region.
North America is expected to grow significantly over the forecast period.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact 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 Aquafeed Modifiers Market Share Analysis
The aquafeed modifiers 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 aquafeed modifiers market.
Some of the major players operating in the aquafeed modifiers market are:
- Bayer AG (Germany)
- Cargill Incorporated (U.S.)
- BASF SE (Germany)
- Yara International (Norway)
- Compass Minerals (U.S.)
- Syngenta Crop Protection AG (Switzerland)
- Adama Ltd (Israel)
- Sumitomo Chemicals Co. Ltd., (Japan)
- Nufarm Limited (Australia)
- UPL (India)
- K+S Group (Germany)
- Israel Chemical Company (Israel)
- Nutreco (Netherlands)
- Adisseo (France)
- Alltech (U.S.)
- Novus International (U.S.)
- Biomin (Austria)
- Impextraco NV (Belgium)
- Norel SA (Spain)
- Global Nutritech (Turkey)
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