Aquafeed Additives Market

Aquafeed Additives Market Size Analysis 2020-2025:

Aquafeed Additives Market size was estimated at USD 1.2 billion in 2020 and is anticipated to reach an extent of USD 2.2 billion by the end of the assessment period. The market is likely to experience reasonable growth to record a CAGR of 5.0% throughout the envisioned period 2022 - 2027.

Aquafeed additives are nutritious ingredients that are used in the manufacture of aquafeeds with the aim of improving the quality of the final product. These additives help keep fish healthier by preserving the chemical and physical qualities of their diet. They help in the ingestion of food and in the supply of essential nutrients in their purified form.

Aquafeed Additives Market Recent Developments

1. In February 2019, the company Archer Daniels Midland has announced that it has successfully completed its acquisition of Neovia for € 1,544 million, creating a world leader in value-added products and solutions for livestock and companion animals.
2. Adisseo, a leading company in animal nutrition, published about its purchase of Nutriad, a renowned feed additive maker for almost five decades. The companies said this initiative will accelerate their success and expand their distribution network.

Aquafeed Additives Market Drivers and Restraints:

The growth of these countries can be attributed to large-scale fish farming due to favorable weather conditions, cheap labor, and abundant availability of resources. Also, the increasing acceptance of prebiotics containing aquafeeds, essential oils and natural extracts, palatants, and food acidifiers is expected to drive long-term market growth. The dramatic rise and emergence of aquaculture in the global market, along with increased consumer awareness of nutrition, have fueled sales of compound feed and aquafeed additives globally. For example, fish consumption in Asian countries, particularly in East and Southeast Asia, has been driven by a combination of a large, growing, and growing urban population, a dramatic population expansion. Fish production, an increase in the international fish trade, and an increase in disposable income will stimulate the market for aquafeed additives during the forecast period.

Antiparasitics are responsible for reducing and minimizing the appearance of such diseases. Antiparasitics are used in aquatic foods to improve food quality and prevent parasite infections in fish. Control of parasitic infections during fish farming is very complicated due to the availability of products with a limited license that is not resistant to the parasite population. Aquafeed additives are a rich source of protein and omega-3 fatty acids. When these additives are added to aquafeed Additives, they improve the nutritional value of the feed and provide benefits such as a higher growth rate, higher protein digestibility, better feed conversion, an improved immune system, and reduced species mortality aquatic. Therefore, increasing awareness among aquafeed additives manufacturers about the nutritional benefits of high protein additives is expected to spark demand for these additives.

Aquafeed Additives Market Report Statistics:

Aquafeed Additives Market Segmentation:

The global aquafeed market is segmented by product and application. The increased emphasis on animal health management, along with the FDA's trend to restrict the use of antibiotics, is expected to have a positive impact in the near future on the demand for aquafeed additives as feed additives for animals. Benefits associated with food acidifiers include a higher growth rate, higher protein digestibility, better food conversion, a better immune response, lower mortality, and greater resource efficiency in aquaculture. Phytogenic food additives are natural additives obtained from the roots, leaves, spicy fruits and tubers of herbs or other plants. Protein hydrolyzates are important sources of nutrients to improve food performance. Salmon protein hydrolyzate is used as a palatability enhancer in aquatic foods. In addition, hydrolyzates from food shrimp promote fish growth performance and have antimicrobial properties to combat pathogens in aquaculture.

Carps are grown due to the health benefits they offer. The increasing importance of omega-3 fatty acids in the food and beverage industry due to their ability to lower cholesterol levels is expected to increase carp farming activities. Aquafeed Additives such as microbial phytase to release phosphorus from phytic acid in vegetable protein concentrates, astaxanthin for fillet pigmentation, and eggs in the case of breeders are added to trout feed to improve quality foods. Other additives are also used to improve food intake. For example, betaine is added to foods that contain rapeseed protein concentrate.

Impact of covid-19 on Aquafeed Additives Market

The Covid-19 pandemic has affected revenue in almost all end-user verticals with the strict government regulations to lockdown countries and shut down all the manufacturing units. The aquafeed industry all witnessed a huge impact with the stopping of exports and closure of storage units. The decline in the purchase prices of aqua products has pushed farmers to halt aquaculture, resulting in the declined usage of aquafeed. However, with the increasing government interference, the aquafeed industry is touted to witness a moderate growth rate in the coming years.

Aquafeed Additives Market Regional Analysis:

The global Aquafeed Additives market has been categorized based on geography to offer a deeper understanding of the international marketplace, which is spread across the areas of North America, Asia Pacific, Europe, Latin America, and Middle East and Africa. The Aquafeed Additives industry in the North American market is likely to experience significant growth due to increased consumption of shellfish in countries such as the United States and Canada. The increasing consumption of species such as salmonids and molluscs, especially hard clams, oysters and mussels, contributes significantly to the growth of the market. The North American Aquafeed Additives market serves international and national markets. The increasing demand for shellfish produced by Aquafeed Additives can be attributed to a deficit in the production of wild fisheries, as well as the increased consumption of shellfish as part of the diet of individuals in the region.

The demand for Aquafeed Additives in the European market has increased significantly in the last decade, mainly due to the expansion of marine aquaculture in Norway, Denmark and Ireland. The significant improvement in the efficiency of food and nutrient consumption together with better environmental management has contributed to the growth of the market for aquatic food additives in the region. The growing aquaculture sector in the European market is expected to boost demand for Aquafeed Additives during the forecast period. The growing popularity of mussels in the region as a cheap source of protein along with the presence of fish farming bases in Europe is expected to complement the growth of the aquatic food additive market during the forecast period.

Leading Company

Nutriad had the largest share of the Aquafeed Additives Market in terms of sales revenue in 2019.

Aquafeed Additives Market Key Players

The global aquafeed additives market is concentrated with key players like Aker Biomarine, Nutriad, Calanus AS, Olmix Group, Norel S.A, Lallemand, Alltech, Diana Group, Phileo by Lesaffre, DuPont de Nemours, Inc, Delacon, and others.