Global Aquatic Feed Additives Market - 2023-2030

Market Overview

Global Aquatic Feed Additives Market reached US$ 2.2 billion in 2022 and is expected to reach US$ 3.3 billion by 2030 growing with a CAGR of 5.3% during the forecast period 2023-2030. The aquatic feed additives market is experiencing significant growth, driven by the increasing demand for fish and shrimp feed additives, as well as the rising focus on aqua nutrition and overall aquatic animal health.

Fish feed additives play a crucial role in enhancing the growth, health, and performance of fish species. They are designed to provide essential nutrients, vitamins, and minerals that may be lacking in conventional fish feed. These additives promote optimal growth rates, improve feed conversion ratios, and enhance the overall health and disease resistance of fish.

Various types of additives such as growth promoters, prebiotics, probiotics, enzymes, immune modulators, antioxidants, and digestive enhancers are contributing to the growth of global aquatic feed additives market.

Market Dynamics

Market Demand for Feed Additives is Being Driven by Growing Aquaculture Industry

The aquaculture industry is being driven by an increase in global fish consumption as well as an increase in processed seafood sales as a result of rising middle-class incomes in developing countries. Due to the growing demand for high-quality aqua feed, the compound feed additive market has grown along with the aquaculture industry. Feed additives are primarily used in fish and prawn diets to improve growth and decrease mortality.

For instance, According to National Oceanic and Atmospheric Administration, with a market value of USD 958.9 million in 2021, fish has a sizable market share for feed additives, compared to the USD 70.5 million market for prawns. This is brought on by both the rising fish consumption and the 1.5% volumetric increase in fish population between 2020 and 2021.

Increasing Direct Human Consumption of Fish and Fish Products

The increasing direct human consumption of fish and fish products is indeed driving the overall demand for aquaculture and fisheries, it may not directly impact the aquatic feed additives market. As wild fish stocks face challenges such as overfishing and environmental changes, aquaculture has emerged as a sustainable solution to meet the increasing demand for seafood.

Aquaculture involves the farming of fish and other aquatic species in controlled environments. To ensure optimal growth, health, and nutritional value of the farmed fish, aquaculture producers utilizing specialized feeds that incorporate aquatic feed additives.

Stringent Regulatory Environment and Compliance.

The aquatic additives market is encountering challenges due to the presence of a stringent regulatory environment and compliance requirements enforced by governing bodies. These regulations are implemented to guarantee the safety, efficacy, and environmental sustainability of the additives utilized in aquaculture. However, for manufacturers and suppliers, navigating through the intricate regulatory landscape can be a laborious and costly process.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Artificial Intelligence Analysis

AI algorithms can process and analyze large volumes of data related to aquatic feed additives. This includes information on ingredients, nutritional composition, production processes, and performance metrics. AI can identify patterns, correlations, and trends within the data, enabling researchers to gain a deeper understanding of the effects of different additives on aquatic animals.

AI analysis in the study of aquatic feed additives offers opportunities for data-driven insights, predictive modeling, optimization, monitoring, compliance assessment, and decision support. By leveraging AI technologies, researchers, producers, and farmers can gain a deeper understanding of the effects of feed additives, improve formulation strategies, and enhance the overall performance and sustainability of aquaculture practices.

Segment Analysis

The global aquatic feed additives market is segmented based on ingredient, species type, and region.

In the Global Market of Aquatic Feed Additives, the Crustacean is the Fastest Growing Segment

The increasing demand for crustacean products, such as shrimp, lobster, and crab, has been driving the growth of this segment. Crustaceans, particularly shrimp, have gained popularity as a seafood choice worldwide. The rising consumer demand for crustacean products, both domestically and in international markets, has led to increased production in the aquaculture sector. This growth in crustacean production has created a parallel demand for feed additives that enhance the growth, health, and overall performance of these species.

For instance, according to the Marine Products Export Development Authority (MPEDA), the overall export of shrimp during 2021-22 was to the tune of 7,28,123 MT worth USD 5,828.59 Million which is all time high for both quantity and value. USA is the largest importer (3,42,572 MT) of frozen shrimp followed by China (1,25,667 MT), European Union (90,549 MT), South East Asia (44,683 MT), Japan (38,492 MT), Middle East (37,158 MT) and Other Countries (49,002 MT).

Geographical Analysis

North America Held the Largest Market Share in the Aquatic Feed Additives Market

In 2022, the North America region accounted for approximately 31.1% of the market share in the global aquatic feed additives market. North America has witnessed a steady growth in its aquaculture sector, driven by increasing demand for seafood, the decline of wild fish stocks, and a focus on sustainable food production. This growth has led to an increased need for high-quality and nutritionally balanced feeds, thereby boosting the demand for aquatic feed additives.

For instance, on June 6, 2022, ADM launched Acquatrax, functional nutritional solutions to enhance shrimp immunity and growth. The innovative Pichia guilliermondii yeast-based feed additive called AquaTrax was created for prawns. Additionally, it is incorporated into the Api Camaron functional feed formulation, which is currently sold in Mexico and will soon be available in other parts of the world.

Competitive Landscape

The major global players in the market include: Norel SA, Lallemand Inc., DuPont de Nemours Inc, Biorigin, Olmix Group, Calanus AS, Aker Biomarine, Nutriad Inc., Nouryon, and Olmix Group.

Why Purchase the Report?

• To visualize the global aquatic feed additives market is segmented based on ingredient, species type, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities in the market by analyzing trends and co-development.
• Excel data sheet with numerous data points of aquatic feed additives market-level with all segments.
• The PDF report consists of cogently put-together market analysis after exhaustive qualitative interviews and in-depth market study.
• Product mapping is available as Excel consists of key products of all the major market players.

The global aquatic feed additives market report would provide approximately 61 tables, 58 figures and 190 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies