Latin America Aquaculture Additives Market, By Type of Additive (Trace Minerals, Enzymes, Feed Acidifier, Mycotoxin Binders, Eubiotics, Ethoxyquin and Others), Form (Powder/Dry, Wet Form, Moist Form), Lifecycle (Starter Feed, Grower Feed, Finisher Feed and Brooder Feed), Animal Species (Carp, Shrimp, Tilapia, Catfish, Salmon, Trout, Oysters, Mussels, Sturgeon, Crabs, Krill, Grouper, Barramundi, Milkfish, Eel, Turbot, Sea Bass, Sea Bream, Yellowtail Kingfish, Meagre, Sole, Pike Perch, Rockfish and Others), Type Of Aquaculture (Marine Water and Fresh Water) – Industry Trends and Forecast to 2030.
Latin America Aquaculture Additives Market Analysis and Size
The pattern of fish consumption pattern has witnessed the main changes over the last few years owing to several factors comprising growing in the availability of a different type of fish in the retail market and changing eating habits. Moreover, increasing consumer awareness regarding the health benefits of a fish has increased the demand for the aquaculture additives in the past few years. A variety of fish, such as tuna, seal blubber, whale blubber, salmon and cod liver are used to obtain Omega 3 fatty acids. Therefore, increasing health awareness is projected to increase consumer demand for supplements such as aquaculture additives that help reduce body fat while improving overall health.
Data Bridge Market Research analyses that the aquaculture additives market is expected to reach USD 8841.54 million by 2030, which is USD 5505.60 million in 2022, registering a CAGR of 6.10% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Latin America Aquaculture Additives Market Scope and Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2023 - 2030
|
|
Base Year
|
2022
|
|
Historic Years
|
2021 (Customizable to 2015 - 2020)
|
|
Quantitative Units
|
Revenue in USD Million, Volumes in Units, Pricing in USD
|
|
Segments Covered
|
Type of Additive (Trace Minerals, Enzymes, Feed Acidifier, Mycotoxin Binders, Eubiotics, Ethoxyquin and Others), Form (Powder/Dry, Wet Form, Moist Form), Lifecycle (Starter Feed, Grower Feed, Finisher Feed and Brooder Feed), Animal Species (Carp, Shrimp, Tilapia, Catfish, Salmon, Trout, Oysters, Mussels, Sturgeon, Crabs, Krill, Grouper, Barramundi, Milkfish, Eel, Turbot, Sea Bass, Sea Bream, Yellowtail Kingfish, Meagre, Sole, Pike Perch, Rockfish and Others), Type Of Aquaculture (Marine Water and Fresh Water)
|
|
Countries Covered
|
Ecuador, Mexico, Peru, Colombia, Honduras, Guatemala, Costa Rica, Panamá, El Salvador, Dominican Republic, Jamaica, Puerto Rico and Rest of Latin America
|
|
Market Players Covered
|
Cargill, Incorporated (U.S.), ADM (U.S.), Evonik Industries AG (Germany), DuPont (U.S.), BASF SE (Germany), DSM (Netherlands), Ajinomoto Co., Inc. (Japan), Novozymes (Denmark), Chr. Hansen A/S (Denmark), TEGASA (Spain), Nutreco (Netherlands), Kemin Industries Inc. (U.S.), Adisseo (France), Alltech (U.S.), Palital Feed Additives B.V (Netherlands), Global Nutrition International (France), Centafarm SRL (Italy), Bentoli (U.S.), NUQO Feed Additives (France) and Novus International, Inc. (U.S.)
|
|
Market Opportunities
|
|
Market Definition
Aquaculture additives are those supplements and diets fed to aquatic animals such as crustaceans and fishes to deliver a complete nutritious diet. These additives primarily include vitamins, amino acids, antibiotics and feed acidifiers. Aquaculture additives boost the immunity of the organisms in the aquatic bodies and protect them from infections. Aquaculture additives are rich source of nutrients and energy.
Aquaculture additives Market Dynamics
Drivers
- Growing demand for seafood
Growing demand for seafood is surging the growth of the aquaculture additives market. There are numerous product types of aquaculture additives such as feed acidifiers, antibiotics, vitamins, and phytogenic, amino acids among others. Increasing usage of aquaculture additives in feeding fishes coupled with the growing availability of the numerous additives are boosting the market's growth. Growing consumption of seafood by customers is directly proportional to the rising demand for the plant based fish feed. Therefore, growing the growth of the aquaculture additives market in the forecast period 2023-2030.
- Surging consumption of nutritional food
Rising consumption of nutritional foods is enhancing the growth of the aquaculture additives. This is because of their health beneficial and nutritional properties. It is extensively used due to anti-inflammatory and its antioxidant effect. Some of the major health benefits associated with aquaculture additives comprise destroying cancer cells, controlling blood sugar, reducing inflammation, and preventing heart disease. Consequently, surging consumption of nutritional food is expected to boost the market growth.
Opportunities
- Increasing consumption of omega-3 based supplements
The growing prevalence of cardiovascular diseases, obesity, and other illnesses, such as diabetes are expected to increase the consumption of the omega-3 based supplements in the upcoming years. The aquaculture additives are the major source of omega-3 based which increase the demand for these additives and create numerous opportunities for market growth. Furthermore, the consumption of LC-omega 3 which is derived from either wild and the encapsulated fish oil or farmed fish oil, helps to maintain cardiovascular health and eczema, asthma, psoriasis and Crohn’s disease. It also aids the development of brain tissue and plays a vital role in the last trimester of pregnancy and in the infant nutrition. The surging demand for protein that is witnessing as a result of increasing consumer awareness regarding the consumption of a high nutritional food will generate lucrative opportunities for the growth of the market during the forecast period.
Restraints/ Challenges
- Fluctuating cost of the raw materials and lack of awareness about the correct use of additives
Some of the major factors that are expected to impede the growth of the aquaculture additives market are fluctuating price of the raw materials used for producing these additives and lack of awareness regarding the proper use of these additives. Stringent government rules and regulations is also set to hamper the market growth during the forecast period 2023-2030.
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.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Development
- In 2020, Alltech started their partnership with Corey Nutrition to deliver a new range of feed products in North America. They will bring innovative products and good quality to the market, which will surge their product portfolio and lead to revenue generation.
- In 2020, Minervet S.A. launched its new products as substitute additives for animal nutrition in the Bolivian market. The procedure for the registration of the products AISEN PLUS and AISEN has already started. This has aided in organization development and will lead to geographically augmented revenue.
Latin America Aquaculture Additives Market Scope
The aquaculture additives market is segmented on the basis of type of additive, form, lifecycle, animal species and type of aquaculture. 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.
Type of Additive
- Trace Minerals
- Enzymes
- Feed Acidifier
- Mycotoxin Binders
- Eubiotics
- Ethoxyquin
- Others
Form
- Powder/Dry
- Wet Form
- Moist Form
Lifecycle
- Starter Feed
- Grower Feed
- Finisher Feed
- Brooder Feed
Animal Species
- Carp
- Shrimp
- Tilapia
- Catfish
- Salmon
- Trout
- Oysters
- Mussels
- Sturgeon
- Crabs
- Krill
- Grouper
- Barramundi
- Milkfish
- Eel
- Turbot
- Sea Bass
- Sea Bream
- Yellowtail Kingfish
- Meagre
- Sol
- Pike Perch
- Rockfish
- Others
Type of Aquaculture
- Marine Water
- Fresh Water
Agricultural Sprayers Market Regional Analysis/Insights
The aquaculture additives market is analyzed and market size insights and trends are provided by country, product type, capacity, power source, nozzle type, usage and crop type as referenced above.
The countries covered in the aquaculture additives market report are Ecuador, Mexico, Peru, Colombia, Honduras, Guatemala, Costa Rica, Panamá, El Salvador, Dominican Republic, Jamaica, Puerto Rico and Rest of Latin America.
Mexico is expected to dominate the agricultural sprayers market in terms of revenue and market share owing to the high production of aquaculture feed in this country. Hence the demand for these additive is also high due to rising demand for high quality product for the aqua feed in market in this region.
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 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 (U.S.)
- ADM (U.S.)
- Evonik Industries AG (Germany)
- DuPont (U.S.)
- BASF SE (Germany)
- DSM (Netherlands)
- Ajinomoto Co., Inc. (Japan)
- Novozymes (Denmark)
- Chr. Hansen A/S (Denmark)
- TEGASA (Spain)
- Nutreco (Netherlands)
- Kemin Industries Inc. (U.S.)
- Adisseo (France)
- Alltech (U.S.)
- Palital Feed Additives B.V (Netherlands)
- Global Nutrition International (France)
- Centafarm SRL (Italy)
- Bentoli (U.S.)
- NUQO Feed Additives (France)
- Novus International, Inc. (U.S.)
SKU-