Albany NY, United States, May 05, 2022 (GLOBE NEWSWIRE) -- Analysts at TMR estimate the aquafeed additives market to expand at a CAGR of 5% over the forecast period from 2019 to 2029. Substantial knowledge about nutritional significance and side-effects of additives used in aquafeed for aquaculture fuels the growth of the aquafeed additives market. The demand for plant-based additives is skewed for their naturally high protein, nutritional content, and easy to digest characteristic.
The significant human share of food in the aquaculture industry is creating opportunities in ancillary industries including aquafeed additives. According to data of the United Nations Food and Agriculture Organization, in 2017, human share of the aquaculture industry for food was 55% and increasing each year. The vast rise in consumption of seafood by humans is directly proportional to the growing demand for plant-based fish feed. Entities involved in aquaculture are emphasizing on nutritious and protein-rich aquafeed additives for the right vitamin and minerals need of aquatic animals, thus leading to substantial rise in demand for premixes.
Asia Pacific is anticipated to emerge as a key market for aquafeed additives in the upcoming years. Growing awareness among emerging economies about health implications of aquafeed additives used in aquaculture is creating opportunities in the aquafeed additives market of the region.
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Aquafeed Additives Market – Key Findings of Report
- Substantial awareness about health implications of additives used in aquaculture is compelling companies in the aquafeed additives market to invest in R&D. Feed additives such as phytomolecules, organic acids, and prebiotics are increasingly becoming mainstream. In addition, companies in the aquafeed additives market are investing in R&D to gain expertise in liquid aquafeed additives to stabilize phytomolecules using an emulsifier.
- Increasing concerns among stakeholders of aquaculture about intestinal health and digestion of aquatic animals reared for food that impacts the quality of produce is leading manufacturers to adopt measures to provide suitable nutrition
- Functional ingredients for aquafeed additives are gaining popularity about the advantages to improve the health of shrimps. Demand for functional ingredients is increasing for the formulation of novel feed additives that improve immune response and other physiological response of aquatic animals.
- Need to improve the health of shrimps and other animals for aquaculture that are susceptible to diseases and environmental fluctuations such as oxygen and salinity is leading to the formulation of novel feed additives. Manufacturers in the aquafeed additives market are engaging increasing production capabilities of feed additives that include nucleotides, which is gaining popularity to improve disease resistance, reproductive function, and increase response against oxidative stress in shrimps.
- Amino acid-based product type additives held the leading share of nearly 34.1% of the aquafeed additives market in 2019
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Aquafeed Additives Market – Growth Drivers
- Immense influence of aquafeed additives on the quality of produce of aquaculture fuels the growth of the aquafeed additives market
- Substantial awareness among aquaculture farmers about nutrition and protein content of aquatic animals reared for food stimulates growth of the aquafeed additives market
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Aquafeed Additives Market – Key Players
Some of the key players operating in the aquafeed additives market are;
- ADM Animal Nutrition
- MJI Universal Pte Ltd
- Roquette Freres S.A.
- Kemin Industries
- Green Plains Inc.
- Skretting
- Cargill Incorporated
- Aller Aqua A/S
- BIOMIN
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The aquafeed additives market is segmented as follows;
Aquafeed Additives Market, by Product Type
- Amino Acids
- Antioxidants
- Antibiotics
- Vitamins
- Minerals
- Feed Acidifiers
- Feed Enzymes
Aquafeed Additives Market, by Application
- Carps
- Marine Shrimps
- Tilapia
- Catfish
- Salmon
- Sea Bass
- Others
Aquafeed Additives Market, by Source
- Plants
- Animals
- Microorganisms
Aquafeed Additives Market, by Region
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Chile
- Peru
- Argentina
- Rest of LATAM
- Europe
- EU-5
- BENLUX
- Nordic
- Russia
- Poland
- Rest of Europe
- East Asia
- China
- Japan
- South Korea
- South Asia and Oceania (SAO)
- India
- Thailand
- Indonesia
- Malaysia
- Australia and New Zealand (ANZ)
- Rest of South Asia and Oceania (SAO)
- Middle East & Africa
- GCC Countries
- South Africa
- North Africa
- Rest of MEA
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