As per our analysis report, the global Aquaculture Additives Market is expected to reach USD 2.97 Billion by 2032 from USD 2.1 billion in 2024, growing at a compound annual growth rate (CAGR) of 4.45% during the forecast timeline.
The amino acids are expected to have a significant share in the market and expand at a considerable rate owing to the increase in the demand for aquaculture additives in nutrition applications. The increase in the consumption of nutritious food by consumers propels the aquaculture additives market owing to the nutritional and health benefits associated with it, such as the properties of antioxidant and anti-inflammatory effects.
Global Aquaculture Additives Market Drivers
The increasing demand for seafood is acting as a major driving factor for the aquaculture additives market. The aquaculture additives product types include amino acids, antibiotics, vitamins, and feed acidifiers, to name a few. The rise in the availability of various product types of aquaculture additives, along with the increase in the usage of these products in feeding the fish, fuels the market growth. There is a direct relationship between the increase in seafood consumption and the demand for plant-based fish feed. Thus, the market is expected to see significant growth during the forecast timeline. The consumption trend of fish has seen a dramatic shift in recent years due to a variety of reasons, such as changes in eating habits and the availability of diverse varieties of fish in the retail market. The increase in consumer knowledge about the health benefits associated with the consumption of fish also boosts the market. A wide range of fish varieties, including whale blubber, tune, cod liver, seal blubber, and salmon, provide omega-3 fatty acids, which have great health benefits for the human body. The rise in consumer awareness is anticipated to boost the demand for supplements that help in the improvement of overall health.
The increase in the consumption of nutritious food by consumers propels the aquaculture additives market owing to the nutritional and health benefits associated with them. These products have antioxidant and anti-inflammatory properties. There are certain potential health benefits present with aquaculture additives, including destroying cancer cells, controlling blood sugar, decreasing inflammation, and preventing heart disease. Thus, the market has significant growth.
Moreover, the advances in technology in the amino acid nutrition category and their application in the manufacturing of eco-friendly and functional feeds are propelling the aquaculture additives market. These are also driving the expansion of the market in the coming years. The increase in the demand from emerging economies for aquaculture additives and the diverse use range of these additives are expected to boost aquaculture production. There are certain regulations that aim to lower the nitrogen level in the feeds and are expected to increase the importance of the low-protein amino acids. These are some factors that are likely to drive the global market and encourage manufacturers to boost aquaculture additives production.
Global Aquaculture Additives Market Restraints
The restraints that hinder the aquaculture additives market include the lack of awareness about the proper use of additives and volatility in the cost of the raw materials. These factors may impede the aquaculture additives market’s growth during the forecast period. Stringent government rules and regulations also limit the growth of the market. On the other hand, the high-cost requirement for research and development is expected to obstruct the growth of the market. The imposition of stringent environmental regulations on overfishing hampers the growth. Another major challenge to the market and the global market players is the large-scale availability of cheap alternatives by the local manufacturers and pressure on the vendors about the price in the market.
REPORT COVERAGE
REPORT METRIC |
DETAILS |
Market Size Available |
2023 to 2032 |
Base Year |
2023 |
Forecast Period |
2024 to 2032 |
CAGR |
4.45% |
Segments Covered |
By Product, Application, And Region |
Various Analyses Covered |
Global, Regional and Country Level Analysis; Segment-Level Analysis; DROC; PESTLE Analysis; Porter’s Five Forces Analysis; Competitive Landscape; Analyst Overview of Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
Archer Daniels Midland Company (ADM), BASF SE, Cargill, Incorporated, DuPont, Alltech, Avanti Feeds Ltd, De Heus Animal Nutrition B.V., NEOVIA, Biomin, Holding GmbH, Skretting A.S., DSM, Novus International, Inc, Nutriad International NV, Evonik Industries AG, Kemin Industries |
This research report on the global aquaculture additives market has been segmented and sub-segmented based on product, application, and region.
Global Aquaculture Additives Market By Product
The amino acids are expected to have a significant share in the aquaculture additives market and expand at a considerable rate. The increase in the demand for aquaculture additives in nutrition applications is driving segmental growth in the market. Amino acids have a vital role in fish metabolism and nutrition and have various health benefits. Amino acids play a role in appetite stimulation, feed intake, larval metamorphosis, and osmoregulation and are resistant to pathogenic organisms. Amino acids are expected to have a higher CAGR during the forecast period.
Global Aquaculture Additives Market By Application
Mollusks are expected to have a large share in the aquaculture additives market and are expected to grow at a higher CAGR during the forecast period. The increase in demand for mollusks is attributed to the increase in their usage as a source of food for human beings due to the various health benefits offered by them. The demand for mollusks in the polyculture systems is increasing to improve the quality of the surrounding environment. There is an increase in the demand for mollusks with the increased application from the consumers and agriculture sector. The increase in the demand for fish food also drives the growth of the segment.
Carps are also an important aquaculture species in certain regions like European and Asian countries. Carps are omnivorous species that consume animal feed, like larvae of insects, water insects, and others. Common carp are cultivated by providing natural and additional supplemental feed in stagnant water ponds. These carps are rich in omega-3 fatty acids and a good source of low-fat protein. The rise in the importance of omega-3 fatty acids in the food and beverage industries drives the growth of the segment in the aquaculture additives market.
Global Aquaculture Additives Market By Region
North America is expected to have a dominant share in the aquaculture additives market during the forecast timeline. There are increasing government initiatives to enhance consumer knowledge about the new innovations in aquaculture additives and to increase the demand for new and unique tastes. The increase in consumer focus on the healthy diet and increasing applications in the nutrition industry also drive the growth of the market in this region.
However, the Asia-Pacific region is anticipated to grow at a higher CAGR in the aquaculture additives market during the forecast time period. The favorable climatic conditions and ease of resource availability are major contributors to the market growth in the region. In the petrochemical industry, there is an increase in the demand for aquaculture additives. The rise in awareness about health and fitness among consumers propels the growth of the market in the region.
KEY MARKET PLAYERS
Companies playing a significant role in the global aquaculture additives market are Archer Daniels Midland Company (ADM), BASF SE, Cargill, Incorporated, DuPont, Alltech, Avanti Feeds Ltd, De Heus Animal Nutrition B.V., NEOVIA, Biomin Holding GmbH, Skretting A.S., DSM, Novus International, Inc, Nutriad International NV, Evonik Industries AG, Kemin Industries.
RECENT HAPPENINGS IN THE MARKET
Frequently Asked Questions
Challenges include regulatory complexities, formulation stability, variability in feed ingredients, potential for antibiotic resistance, environmental concerns, and consumer preferences for organic or natural additives.
Additives offer various benefits, such as improved growth rates, enhanced feed conversion efficiency, disease prevention, stress reduction, better water quality, and increased resistance to environmental fluctuations.
Market trends such as increasing demand for seafood, aquaculture production growth, aqua feed technology advancements, and regulatory changes influence the demand for aquaculture additives.
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