Press release
Soaring Demand Set to Propel Aquafeed Additives Market to $2.43 Billion by 2029
Aquafeed Additives
What Is the Expected CAGR for the Aquafeed Additives Market Through 2025?
Recent years have seen a robust expansion in the aquafeed additives market size. The market is expected to strengthen from a worth of $1.75 billion in 2024 to a value of $1.86 billion in 2025, with a compound annual growth rate (CAGR) of 6.8%. Factors such as the burgeoning aquaculture industry, nutritional necessities, and health & disease management have fuelled the growth during the historic period.
What's the Projected Size of the Global Aquafeed Additives Market by 2029?
In the coming years, the market size of aquafeed additives is anticipated to experience substantial growth, with a projected worth of $2.43 billion by 2029 and a compound annual growth rate (CAGR) of 6.9%. Influencing factors for this growth include population expansion, urbanization, environmental sustainability, changes in regulations, and global economic trends. The forecast period will also witness key trends such as research and development, sustainable practices, the use of alternative proteins, functional feed constituents, digitization and precision in aquaculture, customized formulations, and neat label additives.
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Top Growth Drivers in the Aquafeed Additives Industry: What's Accelerating the Market?
The growth of the aquafeed additives market is anticipated to be driven by the increasing consumption and demand for seafood. Seafood, being a favored source of protein, along with the growing desire for exotic marine varieties like shrimp and oysters, is contributing to the surge in seafood consumption. These marine species not only meet protein needs but also provide significant amounts of vitamins, fat and fatty acids like sardine oil, squid oil, essential amino acids, phospholipids, and cholesterol, all of which are extremely beneficial to health. For example, the Organization for Economic Cooperation and Development (OECD), based in France, has predicted that 90% of fish produced will be for human consumption, and expects this consumption to rise by 16.3% by 2029. As a result, the elevated consumption of seafood and marine species is expected to fuel the aquafeed additives market.
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What Trends Will Shape the Aquafeed Additives Market Through 2029 and Beyond?
The trend of creating innovative products is gaining momentum in the aquafeed additives market. Staying current in the industry while fostering growth and improvement is made possible through product innovation. Aquafeed encompasses a broad industry producing hundreds of species on varied production bases. Key companies are working on enhancing their comprehension of nutrition by conducting in-depth analysis of alternate raw materials and deploying advanced innovation. Such advancements comprise of water-stable fortifiers, organic minerals, pre-treatment of ingredients, gut modifiers, and enzymes. For example, in September 2022, Secma Cabon Solution Vide, a company based in France that designs and builds equipment, introduced a novel aquafeed delivery system named MultyWays. The company's patented inventions include the CleanPipe system, DosAir, and Multiways valves. The combination of these three components optimizes performance and boosts profits. MultyWays not only augments yield and allows for more regular daily feedings, but also provides farmers with more time for other responsibilities. In addition, it reduces labor costs, curtails manual involvement, and minimizes accidents associated with frequent feeding mechanisms.
What Are the Main Segments in the Aquafeed Additives Market?
The aquafeed additives market covered in this report is segmented -
1) By Source: Animal, Microorganisms, Plant
2) By Ingredient: Anti-Parasitic, Feed Acidifiers, Prebiotics, Essential Oils And Natural Extracts, Palatants, Other Ingredients
3) By Application: Carp, Rainbow Trout, Salmon, Crustaceans, Tilapia, Catfish, Sea Bass, Grouper, Other Application
Subsegments:
1) By Animal: Fish Meal, Bone Meal, Blood Meal
2) By Microorganisms: Probiotics, Yeast Extracts, Fermented Products
3) By Plant: Plant Meals, Algal Extracts, Herbal Additives
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Which Top Companies are Driving Growth in the Aquafeed Additives Market?
Major companies operating in the aquafeed additives market include Alltech, Biorigin, Kemin Industries Inc., Norel SA, BioMar Group A/S, Cargill Inc., DuPont de Nemours Inc., Nutreco NV, Nutriad Ltd., Calanus AS, Olmix Group, Lallemand Inc., Nouryon B. V., Delacon Biotech Nik Ges. m. b. H., Camlin Fine Sciences Ltd., Diana S. A. S., Aller Aqua A/S, Archer Daniels Midland Company, Ridley Corporation Ltd., Thai Union, Inve Aquaculture Inc., Growel Feeds Pvt. Ltd., BASF SE, Bluestar Adisseo Company, Wilbur-Ellis Nutrition LLC, Purina Animal Nutrition LLC, Koninklijke DSM N. V., Skretting, Clextral S. A. S., Trouw Nutrition LLC, Balchem Corporation, AquaBounty Technologies, Scoular, Nutra Blend LLC
Which Regions Will Dominate the Aquafeed Additives Market Through 2029?
North America was the largest region in the aquafeed additives market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aquafeed additives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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