Aquafeed Additives Market Growing Demand for Quality Fish Products

As demonstrated by Precision Business Insights (PBI), the latest report, the Aquafeed Additives Market was valued at USD 1,925.9 million in 2023, growing at an 5.4% CAGR from 2024 to 2030. Factors influencing the growth of global Aquafeed Additives market include increasing demand for seafood especially fish for protein diet, development of newer products by the companies, and increase in the adoption of aquaculture feed and feed additive products by the farmers across the globe.

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The Aquafeed Additives Market Detailed Segmentation:
Based on the product type, the market is segmented into the following:
• Acidifiers
• Amino Acids
• Antibiotics
• Antioxidants
• Binders
• Enzymes
• Vitamins
• Minerals
• Phosphates
• Phytogenic
• Probiotics
• Others

Based on the Species, the market is segmented into the following:
• Salmon
• Seabass
• Seabream
• Trout
• Turbot
• Carp
• Tilapia
• Catfish
• Shrimp
• Crawfish
• Others

Based on the product type segment, the global aquaculture feed additive market is segmented into Acidifiers, Amino Acids, Antibiotics, Antioxidants, Binders, Enzymes, Vitamins, Minerals, Phosphates, Phytogenic, Probiotics, and Others. Among all of these Amino Acids are anticipated to account for a larger revenue share in the global Aquafeed Additives market, with a value share of 23.0%, and the segment is projected to grow at 5.16% CAGR over 2024 - 2030. Increasing usage of various amino acids such as arginine, histidine, isoleucine, leucine, lysine, methionine, phenylalanine, threonine, tryptophan, and valine and facilitating balanced amino acid profiles in the feed will help in protein synthesis in aqua animals which in turn, drives the Aquafeed Additives market. Moreover, Aquafeed additive manufacturers are investing significantly in R&D to innovate and develop new products. R&D efforts involve conducting studies, trials, and tests to better understand the nutritional needs of different species, evaluate the efficacy of additives, and explore new ingredients and formulations. High R&D investments enable manufacturers to improve the performance, functionality, and sustainability of aquafeed additives. This includes developing novel additives, exploring alternative protein sources, enhancing ingredient digestibility, and optimizing nutrient utilization.

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Based on the geography the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

The Asia-Pacific dominated the Aquafeed Additives market in 2023. In 2023, The Asia-Pacific accounted for 36.3% in the global Aquafeed Additives market and is projected to grow at 5.24% CAGR over 2024 - 2030. The Asia Pacific market is expected to increase in the future due to a rise in consumption of seafood especially fish for protein diet in emerging countries, assembled with efforts to improve aquaculture infrastructure. The Asia-Pacific market is expected to reach US$ 462.5 Mn by 2030. The expansion of the market in the region can be attributed to the constantly evolving aquaculture practices in terms of farming techniques, technological adaptations, ongoing research and development pertaining to feed and government policies that promote sustainable aquaculture farming methods. Europe generated the second largest share in the global Aquafeed Additives market due to an increase in aquaculture species production, the presence of global leading market players, and a rise in awareness among aquaculture farmers about the feed and feed additives.

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Strategic New Product Launches, Mergers, Acquisitions, and Concurrence are the key tactics adopted by market players:
In the recent research the Aquafeed Additives market further divulge that the key players are intensively adopting strategies such as the launch of newer feed additives, sea foods, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In November 2021, the Company opened a new animal nutrition laboratory in Rolle, Switzerland to support the development of science-based feed additives to meet worldwide customer needs for pet food, aquaculture, and livestock species.

Key players profiles in the Aquafeed Additives Market report are Phileo, Growel, Kemin Industries, Cargill, Incorporated., Ridley Corporation Limited, Lallemand Inc., Avanti Feeds Ltd.

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