New Jersey, NJ, Sept. 17, 2019 (GLOBE NEWSWIRE) -- Rising consumption of seafood due to increasing awareness regarding the health benefits associated with the additives is stimulating the market demand. The global aquaculture additives market is expected to reach USD 1.66 Billion by 2025 at a CAGR of 4.0% during the forecast period from 2018-2025, according to the new report published by Fior Markets.
Farming of mollusk, aquatic plants, fish, algae, crustaceans, and other aquatic organisms is termed as aquaculture. It includes growing seawater and freshwater aquatic organisms under controlled conditions to get high production output. Aquaculture additives are chemical compounds which help to boost up the immunity of the organisms, protect aquatic animals from infection and offer basic nutrients to aquatic organisms. They contain energy and nutrient sources which are important for fish growth and health. They act as a food supplement for aquatic animals to enhance feed quality, thus augmenting the animal growth performance and health. For instance, in January 2018, Cargill, Inc. opened a feed mill dedicated to the fish species in Andhra Pradesh, India. The facility, with a total capacity of over 90,000 tons annually, is anticipated to enable the company to increase its fish feed capacity threefold in the country.
Increasing consciousness regarding the health benefits associated with the additives to promote fish development, government regulations and standards regarding the use of insect protein in the product are the factors estimated to drive the aquaculture additives market during the forecast period. Also, the rise in disposable income increases the market size which will drive the demand to produce higher-quality goods. But stringent environmental regulations regarding the fish catching process which may obstruct the market growth. However, rising production will drive the overall growth in fish production, thereby resulting in increased product demand which may boost up the market in the coming years.
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Key players operating in the global Aquaculture Additives market include Biomar, Ridley, Aller Aqua, and Archer Daniels Midland Company (ADM); BASF SE; Biomin Holding GmbH; Skretting A.S.; DSM; Evonik Industries AG; NEOVIA; Novus International, Inc.; De Heus Animal Nutrition B.V.; Nutriad International NV; Avanti Feeds Ltd.; NK Ingredients Pte Ltd.; and Bentoli, Inc. To enhance their market position in the global Aquaculture Additives market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
- For instance, In July 2019, Ridley has opened a new $50 million aquafeed facility in Westbury, Australia, which will produce high-quality feed for salmon. The factory is targeting the salmon and fish feed sectors as well as pet food producers.
- In February 2018, Archer Daniels Midland Company announced that it has agreed to terms granting exclusivity in discussions to purchase Neovia, a global provider of value-added animal nutrition solutions, with 72 production facilities and a presence in 25 countries, headquartered in Saint-Nolff, Britanny, France. The 100 percent cash deal has an approximate enterprise value of €1.535 billion, subject to customary adjustments.
The amino acids segment is dominating the market with the highest share of 31.20% in 2017
The product segment is classified into amino acids, antibiotics, vitamins, feed acidifiers, anesthetic & sedation materials, anti-parasitics, and others. The amino acids are dominating the market and valued around USD 378.23 million in 2017. Proteins are crucial ingredients for healthy growth of fish. Fish and prawns are incapable of synthesizing proteins into amino acids including threonine, tryptophan, methionine, lysine, valine, and arginine.
The crustaceans segment is dominating the market and valued around USD 358.84 million in 2017
The applications segment is segmented into carp, mollusks, salmon, shrimps, tilapia, catfish, sea bass, trout, and others. The crustaceans segment is dominating the market with the highest share of 29.60% in 2017. Crustaceans are aquatic species and live both in marine and freshwater environments, while some have adapted to life on lands such as crabs. They provide a major share of omega fatty acids, vitamins, minerals and excellent source for amino acids including methionine, leucine, histidine, threonine, and valine, thereby driving the industry growth.
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Regional Segment Analysis of the Aquaculture Additives Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
Asia Pacific region dominated the global aquaculture additives market with USD 499.46 Million in 2017 whereas the European region is growing rapidly in the market. The Asia Pacific is dominating the market. Increase in aquaculture activities in the region due to the plentiful availability of land along with favorable climatic conditions has resulted in significant growth in demand for aquafeed. The European region is expected to grow rapidly because of the expansion of the marine aquaculture sector in the European Union (EU) and European Free Trade Association countries. Noteworthy progress in the efficiency of feed and environmental management is expected to drive the regional aquaculture sector, pushing the growth of the market.
About the report:
The global Aquaculture Additives market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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