Aquafeed Modifiers Market - Industry Trends and Forecast

Aquaculture has a long history dating back to the ancient era and there have been many recent developments in the aquaculture industry. Aquaculture practises began in 1990 when the construction of concrete tanks for fish farming began and the production expanded to meet market demand. Aqua feed modifiers are being introduced into the market to provide the necessary nutritional feeds.

Data Bridge Market Research analyses that the aquafeed modifiers market which was growing at a value of 3.15 billion in 2021 and is expected to reach the value of USD 4.41 billion by 2029, at a CAGR of 4.30% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis.

Access Full Report: https://www.databridgemarketresearch.com/reports/global-aquafeed-modifiers-market

Drivers

Rising investments and development in the aquaculture industries
Rising fish farming activities around the world as well as increased spending on research and development activities are driving the growth of the aqua feed modifiers market. Rising need and demand for compounded meals to maintain aquatic species' health as well as growing awareness about aquafeed modifiers are some other market growth determinants.

Aquaculture as a form of livelihood
Global fish and aquaculture production has increased as a result of population growth, rising incomes in developing countries, and urbanisation. The increasing consumption of seafood at the expense of staple foods is positively related to income and consumption of animal protein. Global consumption of fish is increasing faster than the growing global population owing to rising incomes and urbanisation. Fisheries and aquaculture are becoming a major source of protein, foreign exchange, livelihoods, and population well-being around the world.

Opportunity

Manufacturers' increased emphasis on innovative product offerings combined with increased restrictions on animal-based food products will create even more lucrative growth opportunities for the aqua feed modifiers market. Furthermore, growing concerns about animal welfare have created a demand for aqua feed additives that improve aquatic animals' intestinal health and digestion. Manufacturers are raising awareness about the proper use of feed additives in order to avoid negative consequences during production.

Recent Development

Skretting, a Nutreco company, will launch a new starter and grower feed for rainbow trout in December 2021, dubbed Nutra Sprint and Celero, respectively, to assist farms in reaching their full potential. Validation trials for the launched product revealed growth increases of up to 8% and an 8% decrease in Feed Conversion Ratio.
In September 2021, Cargill announced a multi-year agreement with The Conservation Fund's Freshwater Institute to develop, evaluate, and improve feeds for the land-based aquaculture industry. The Institute can provide Cargill nutritionists and researchers with experience in recirculating aquaculture systems. The collaboration will improve the environmental and economic performance of land-based aquaculture by developing and testing feeds specifically for recirculating aquaculture systems.

Some of the major players operating in the aquafeed modifiers market are:

Bayer AG (Germany)
Cargill Incorporated (U.S.)
BASF SE (Germany)
Yara International (Norway)
Compass Minerals (U.S.)
Syngenta Crop Protection AG (Switzerland)
Adama Ltd (Israel)
Sumitomo Chemicals Co. Ltd., (Japan)
Nufarm Limited (Australia)
UPL (India)
K+S Group (Germany)
Israel Chemical Company (Israel)
Nutreco (Netherlands)
Adisseo (France)
Alltech (U.S.)
Novus International (U.S.)
Biomin (Austria)
Impextraco NV (Belgium)
Norel SA (Spain)
Global Nutritech (Turkey)

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