Aquafeed Additives - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Aquafeed Additives Market is accounted for $1.22 billion in 2019 and is expected to reach $2.01 billion by 2027 growing at a CAGR of 6.5% during the forecast period. Increasing international fish trade and growing disposable income are the major factors propelling the market growth. However, factor such as stringent regulations is hampering the market growth.
Aquafeed additives are a rich source of proteins and omega-3 fatty acids. While these additives are added to aquafeed, they improve the nutritive value of the feed and provide benefits such as increased growth rate, improved feed conversion, better immunity system, and reduced mortality of aquatic species. Therefore, mounting awareness among aquafeed manufacturers regarding the nutritive benefits of aquafeed additives that are rich in protein content is anticipated to trigger the demand for these additives.
Based on the application, the carps segment is estimated to have a lucrative growth due to their ability to decrease cholesterol levels is expected to boost carp farming activities. The aforementioned factors are projected to fuel aquafeed additives demand in the carp application segment and also benefit the growth of overall market.
By geography, North America is likely to have a huge demand due to increase with raise in seafood consumption in countries like Canada and the U.S. raise consumption of species such as salmonids and mollusks are majorly contributing to the growth. North America serves both global as well as domestic markets.
Some of the key players profiled in the Aquafeed Additives Market include Aker Biomarine, Calanus AS, Norel S.A., Alltech, Diana Group, Phileo by Lesaffre, Camlin Fine Sciences Ltd., Delacon, DuPont de Nemours, Inc., Nouryon, Biorigin, Lallemand, Inc., Kemin Industries, Inc., Olmix Group and Nutriad.
Product Types Covered:
• Feed Acidifiers
• Feed Enzymes
• Amino Acids
• Essential Oils & Natural Extracts
• Marine Shrimps
• Sea Bass
• Rainbow Trout
• Fish Feed
• Crab Feed
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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