Global Aquafeed Antioxidants Market – Industry Trends and Forecast to 2029

Global Aquafeed Antioxidants Market, By Ingredient (Soybean, Fishmeal, Corn, Fish Oil, Additive, Others), Species (Fish, Crustaceans, Mollusks, Others), Form (Dry Form, Wet Form, Moist Form), Lifecycle (Grower Feed, Finisher Feed, Starter Feed, Brooder Feed) – Industry Trends and Forecast to 2029.

Aquafeed Antioxidants Market Analysis and Size

The world's population increasingly depends on fisheries and aquaculture as their main source of protein, income, and well-being. For Instance, in 2019, 19.2 pounds of seafood were consumed per person in the United States (US.). Additionally, the increasing demand for fish and aquatic goods in Europe and other parts of the world is increasing aquaculture output, which fuels worldwide aquafeed sales.  Therefore, owing to such factors the market is estimated to flourish over forecasted period.

Global aquafeed antioxidants market was valued at USD 69.17 million in 2021 and is expected to reach USD 101.42 million by 2029, registering a CAGR of 4.90% during the forecast period of 2022-2029. 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, and climate chain scenario.

Market Definition

Aquafeeds are produced meals for aquatic animals by combining a variety of additives and raw materials. These mixtures are made in accordance with the specific requirements of the animal's species and age. Aquafeed’s nutritional, immune-suppressing, and growth-promoting qualities have made it essential to the aquaculture sector. Aquafeed, also referred to as fish feed, is manufactured commercially to feed a variety of aquatic animals. It assists in supplying fish and other aquatic organisms with a full diet and the necessary nutrients. Molluscs, carps, shrimp, crustaceans, catfish, trouts, and other aquatic animals are among the countless aquatic species.

Aquafeed Antioxidants Market Scope and Segmentation

Aquafeed Antioxidants Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Rise in Aquaculture and Seafood Consumption

The rising worldwide seafood consumption and rising consumer awareness of the quality of seafood products will boost the market growth. Along with increased resource competence in aquaculture, growing preference for plant-based additives, increasing growth in the aquaculture industry, increasing trade in seafood, benefits associated with feed acidifiers, increasing protein digestibility among consumers, and improved immune response among others, the rising demand for exotic protein and omega 3 enriched fish species is the key factor escalating the market growth.

Furthermore, the presence of many market participants will further propel the growth rate of aquafeed antioxidants market. Additionally, growth in the aquafeed market has been aided by increase in per capita income, particularly in emerging countries, which will support the expansion of the aquaculture and aquafeed industries.

Opportunities

• Surging Innovation and Improvements

Furthermore, the improvement of innovative products as a source of protein further extend profitable opportunities to the market players in the forecast period of 2022 to 2029. The companies in the aquafeed industry are concentrating on creating cutting-edge goods with greater nutrition and increased feed conversion. For instance, in order to meet the requirements for RAS feed in terms of feed efficiency, fish growth, and water cleanliness, Aller Aqua, a manufacturer of aquafeed with headquarters in Denmark, created new feed technology called PowerRAS in February 2019.

• Increased Favorable Initiatives by Government

Additionally, the growing focus of government and the favorable initiatives towards the aquafeed antioxidants will further expand the future growth of the aquafeed antioxidants market. The American market supplies the majority of the world's demand for seafood. The National Marine Fisheries Service has put in place strict regulatory frameworks for the production, use, and marketing of fishing products, which has improved the organization and modernity of the aquafeed market.

Restraints/Challenges

• Issues Associated With Raw Material Costs

The rise in raw material costs will create hindrances for the growth of the aquafeed antioxidants market.

• Environmental and Health Concerns

Also, there has been growth in environmental and health concerns associated with the usage of the antioxidants for the aquafeed, which will prove to be a demerit for the aquafeed antioxidants market. The increasing concerns associated with its usage will further challenge the aquafeed antioxidants market growth rate.

This aquafeed antioxidants market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the aquafeed antioxidants market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Aquafeed Antioxidants Market

The impact of COVID-19 lockout was massive on a global scale, and particularly devastating in key consuming market for aquafeed, as  a result, the coronavirus had an overall negative impact on the aquafeed antioxidants market. Operations were slowed down by the COVID-19 epidemic, which resulted in staff shortages and increased hygienic standards for processing and fishery operations. Due to the fact that many nations view the marine ingredients sector as a crucial link in the food supply chain, fishing and harvesting activities have persisted practically everywhere. Moreover, the market has experienced a massive financial setback due to distribution channel weaknesses.

The major firms have also undertaken inorganic expansion strategies, such as acquiring locally based manufacturers to increase their geographic reach. Additionally, the negative effects of COVID-19 on the production and distribution of aquafeed antioxidants are progressively waning, with some of the biggest markets gradually reverting to normal. On the other hand, the full-fledged growth speed will start to materialize in the third or fourth quarter of 2022, as estimated in the pre-COVID phase.

Recent Development

• In March 2021, The majority of Viet-shares UC's were purchased by BioMar, a maker of fish feed products with headquarters in Denmark, for an undisclosed sum. BioMar anticipates expanding the market for premium feed products that emphasise sustainability, traceability, quality, and performance with this acquisition.
• In September 2021, Cargill announced a multi-year collaboration with the Freshwater Institute of the Conservation Fund to create, assess, and improve feeds for the land-based aquaculture sector. The institute offers expertise in recirculating aquaculture systems to Cargill nutritionists and researchers. Through feeds created and put through rigorous testing specifically for recirculating aquaculture systems, the alliance will enhance the environmental and financial performance of land-based aquaculture.

Global Aquafeed Antioxidants Market Scope

The aquafeed antioxidants market is segmented on the basis of ingredients, species, form and lifecycle. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Ingredient

• Soybean
• Fishmeal
• Corn
• Fish Oil
• Additive
• Others

 Species

• Fish
• Tilapia
• Salmon
• Carp
• Trout
• Crustaceans
• Shrimp
• Crabs
• Krill
• Mollusks
• Oysters
• Mussels
• Others

Form

• Dry Form
• Wet Form
• Moist Form

 Lifecycle

• Grower Feed
• Finisher Feed
• Starter Feed
• Brooder Feed

Aquafeed Antioxidants Market Regional Analysis/Insights

The aquafeed antioxidants market is analyzed and market size insights and trends are provided by country, ingredients, species, form and lifecycle as referenced above.

The countries covered in the aquafeed antioxidants market report are U.S., Canada, Mexico in North America, Germany, Poland, Ireland, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Chile, Rest of South America as a part of South America, UAE, Saudi Arabia, Egypt, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).

Asia-Pacific dominates the aquafeed antioxidants market during the forecast period of 2022-2029. The region is estimated to be dominant because of the increasing use of aquafeed antioxidants due to the rising urbanization, changing diet patterns, increasing population, and improving economic growth within the region.

North America on the other hand, is estimated to show lucrative growth due to the favorable initiatives towards the aquafeed antioxidants over the forecast period of 2022-2029.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Aquafeed Antioxidants Market Share Analysis

The aquafeed antioxidants market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to aquafeed antioxidants market.

Some of the major players operating in the aquafeed antioxidants market are

• Cargill Incorporated (U.S.)
• ADM (U.S.)
• Alltech (U.S.)
• Purina Animal Nutrition LLC (U.S.)
• Nutreco N.V. (Netherlands)
• Ridley Corporation Limited (Australia)
• DSM (Netherlands)
• BASF SE (Germany)
• DOW (U.S.)
• DuPont (U.S.)
• Frutarom Industries Ltd. (Israel)
• Chr. Hansen Holding A/S (Denmark)
• Ajinomoto Co. Inc. (Japan)
• Prinova Group LLC. (U.S.)
• Dishman Carbogen Amcis Ltd (India)
• Adisseo (China)
• AkzoNobel N.V. (U.S.)
• Kalsec Inc. (U.S.)