Aquaculture additives play a vital role in promoting sustainable growth and nutrition in the aquaculture industry. These specialized compounds enhance feed quality, boost immunity, improve digestion, and optimize growth rates of aquatic organisms. By providing essential nutrients and supporting overall health, aquaculture additives contribute to increased productivity and reduced environmental impact. As the demand for sustainable seafood rises, the proper utilization of aquaculture additives becomes crucial in ensuring the industry's growth while maintaining ecological balance and meeting global nutritional needs.
According to Data Bridge Market Research, the Global Aquaculture Additives Market is accounted for USD 1.23 billion in 2021 and expected to reach USD 1.73 billion by 2029. The market is expected to grow with a CAGR of 4.37% in the forecast period of 2022 to 2029.
“Increasing demand for protein-rich products boosts the market’s growth”
The increasing demand for protein-rich products, especially in the food and nutrition sector, has led to a surge in aquaculture activities to meet global protein needs. Aquaculture additives play a vital role in enhancing the growth and health of aquatic species, improving their nutritional value, and increasing overall yield. As the aquaculture industry expands to cater to the rising protein demand, the market for aquaculture additives is experiencing significant growth, driven by the need to optimize production and ensure sustainable fish and seafood supply.
What restraints the growth of the global aquaculture additives market?
“High cost associated with research and development (R&D) restraints the market’s growth”
The aquaculture additives market's growth is hindered by the high cost associated with research and development (R&D) efforts required to develop innovative and efficient additives. The expenses incurred in conducting rigorous studies, testing, and obtaining regulatory approvals for new products create financial barriers for many companies. As a result, limited R&D resources may lead to slower innovation and adoption of advanced aquaculture additives, restricting the market's overall expansion.
Segmentation: Global Aquaculture Additives Market
The global Aquaculture additives market is segmented on the basis of product and application.
- On the basis of product, the aquaculture additives market is segmented into amino acids, antibiotics, vitamins, feed acidifiers, anesthetic and sedation materials, anti-parasitics, and others.
- On the basis of application, the aquaculture additives market is segmented into carp, mollusks, salmon, shrimps, tilapia, catfish, sea bass, trout, and others.
Regional Insights: Asia-Pacific dominates the Global Aquaculture Additives Market
Asia-Pacific dominates the aquaculture additives market owing to the combination of favorable climatic conditions and the presence of affordable labor has led to a significant increase in aquaculture and aqua feed production. These factors have created a conducive environment for the growth of these industries, driving their expansion in recent times.
North America will expect to grow in the forecast period 2022 to 2029 due to the expansion of aquaculture has been facilitated by substantial support from both government and private sectors. This backing includes financial assistance, infrastructure development, technological advancements, and research initiatives, which have collectively contributed to the growth and success of the aquaculture industry.
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Recent Developments
- In February 2021, Kemin Industries introduced a novel product called KemTRACE Chromium-OR, which serves as an organic compliant chromium propionate feed ingredient suitable for swine, cattle, broiler, and horse diets.
- In July 2020, ADM has unveiled NutriPass L, a groundbreaking encapsulated lysine supplement designed to be stable in the rumen and easily absorbed in the intestines of cows. This innovative encapsulation technology ensures a reliable and steady source of metabolizable lysine, benefiting both lactating cows and growing cattle in their nutritional needs.
- In February 2021, In a collaborative effort, Alltech and DLG Group are working together to enhance profitability and efficiency for livestock producers in Scandinavia. As part of their joint initiative, the two companies are in the process of acquiring Kärki-Agri, a Finnish company, to further strengthen their commitment to the region's agricultural sector.
- In November 2020, Evonik has bolstered its customer service for animal nutrition clients by launching 'myAMINO,' a new digital portal. This innovative platform consolidates the company's digital customer activities and services while also introducing two web stores.
The Prominent Key Players Operating in the Global Aquaculture Additives Market Include:
- Cargill, Incorporated (U.S.)
- ADM (U.S.)
- Evonik Industries AG (Germany)
- DuPont (U.S.)
- BASF SE (Germany)
- DSM (Netherlands)
- Ajinomoto Co., Inc. (Japan)
- Novozymes (Denmark)
- Chr. Hansen A/S (Denmark)
- TEGASA (Spain)
- Nutreco (Netherlands)
- Kemin Industries Inc. (U.S.)
- Adisseo (France)
- Alltech (U.S.)
- Palital Feed Additives B.V (Netherlands)
- Global Nutrition International (France)
- Centafarm SRL (Italy)
- Bentoli (U.S.)
- NUQO Feed Additives (France)
- Novus International, Inc. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global aquaculture additives market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Aquaculture Additives Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
