Aquafeed Additives Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.60 Billion |
| Market Size (2029) | USD 2.02 Billion |
| CAGR (2024 - 2029) | 4.81 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Aquafeed Additives Market Analysis
The Aquafeed Additives Market size is estimated at USD 1.60 billion in 2024, and is expected to reach USD 2.02 billion by 2029, growing at a CAGR of 4.81% during the forecast period (2024-2029).
Aquafeed additives are rich sources of proteins and omega-3 fatty acids. These additives are added to aquafeed to enhance the feed quality and prevent infections in fish caused by parasites. Controlling parasites during fish farming is highly important as it can lead to economic losses. These additives provide benefits such as healthy growth, improved immunity system, enhanced feed conversion, and reduced mortality rate of aquafeed. Thus increasing awareness among the manufacturers regarding the additives will boost the market. For instance, Aquafeed additives such as palatants and feed acidifiers, in several cultivar species such as carp, tilapia, salmon, and catfish, especially in emerging economies, are witnessing huge demand. This will add complementary growth during the forecast period.
Aquafeed Additives Market Trends
Increase in Sea Food Consumption
According to the Food and Agriculture Organization of the United Nations ( FAO), in per capita terms, global food fish consumption grew from 9 Kg in 1961 to 20.2 Kg in 2015, representing an average expansion rate of 1.5 percent per annum. In 2016 the consumption rate was 20.3 Kg. The dramatic rise and emergence of aquaculture in the global market place, coupled with the increased nutritional awareness among consumers, spurred the sales of compound feed and feed additives globally. For instance, fish consumption in Asian countries, particularly eastern and southeastern Asia, has been driven by a combination of large, growing, and increasing urban population, dramatic expansion of fish production, rising international fish trade and increasing disposable income will drive the aquafeed additive market during the forecast period.
Asia Pacific Dominates the Market
The Asia-Pacific feed additives market for aquaculture species grew significantly, contributing 9.3% in 2022, with an estimated USD 962.8 million. The growth was driven by a 5.9% increase in fish production between 2017 and 2022, thus boosting the demand for feed additives from aquaculture species. China led the region's aquaculture feed additives market, accounting for 48.6% of the market value, while Vietnam is projected to record a CAGR of 5.5% during the forecast period. The primary driver for the Chinese market was the 54.1% growth in the country's feed production from 2017 to 2022. The Asia-Pacific feed additives market for aquaculture has grown significantly in recent years, with fish being a highly-produced segment in the region. Fish accounted for 73.9% of the Asia-Pacific feed additives market for aquaculture and 6.8% of the region's total feed additives market in 2022. The increasing demand for natural aquaculture feed additives and the region's rising production and consumption of seafood drove this growth.
Aquafeed Additives Industry Overview
The aquafeed additive industry is fragmented, with the top 5-6 companies accounting for almost 40% of the market share. These companies are targeting countries in most parts of the world for business expansion, either by investing in new production units or acquiring established small players in specific regions. The investment in R&D activities to introduce new and efficient products is another strategy manufacturers adopt to stay ahead of their competition in the matured markets.
Aquafeed Additives Market Leaders
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Thai Union
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Inve Aquaculture
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Growel Feeds Pvt Ltd
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BASF
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Cargill
*Disclaimer: Major Players sorted in no particular order
Aquafeed Additives Market News
July 2022: Cargill has extended its partnership with Innovafeed to provide aquafarmers with innovative and nutritious ingredients, including additives.
Aquafeed Additives Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 By Species Type
- 5.1.1 Fish
- 5.1.2 Mollusks
- 5.1.3 Crustaceans
- 5.1.4 Others
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5.2 By Additives
- 5.2.1 Vitamins
- 5.2.2 Minerals
- 5.2.3 Antioxidants
- 5.2.4 Amino Acids
- 5.2.5 Enzymes
- 5.2.6 Acidifiers
- 5.2.7 Others
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5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Mexico
- 5.3.1.4 Rest of North America
- 5.3.2 Europe
- 5.3.2.1 Germany
- 5.3.2.2 United Kingdom
- 5.3.2.3 France
- 5.3.2.4 Russia
- 5.3.2.5 Spain
- 5.3.2.6 Rest of Europe
- 5.3.3 Asia Pacific
- 5.3.3.1 India
- 5.3.3.2 China
- 5.3.3.3 Japan
- 5.3.3.4 Rest of the Asia-Pacific
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
6. COMPETITIVE LANDSCAPE
- 6.1 Market Share Analysis
- 6.2 Most Adopted Strategies
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6.3 Company Profiles
- 6.3.1 Thai Union Group
- 6.3.2 Inve Aquaculture Inc.
- 6.3.3 Growel Feeds Pvt Ltd
- 6.3.4 BASF
- 6.3.5 South East Asia Pte Ltd
- 6.3.6 Adisseo Asia Pacific Lte
- 6.3.7 CP Group
- 6.3.8 Cargill incorporated
- 6.3.9 Nutreco N.V
- 6.3.10 Archer Daniels Midland Company (US)
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityAquafeed Additives Industry Segmentation
The report covers the extensive study of segments and factors driving the growth of the commercial global aquafeed additive market. An in-depth analysis of the futures markets and trends is exclusively measured in this report. Factors driving region-wise analysis are also covered with great observations. The report provides an in-depth analysis of the various parameters of the aquafeed additive market. The aquafeed additive market has been segmented based on species and additives.
| By Species Type | Fish | |
| Mollusks | ||
| Crustaceans | ||
| Others | ||
| By Additives | Vitamins | |
| Minerals | ||
| Antioxidants | ||
| Amino Acids | ||
| Enzymes | ||
| Acidifiers | ||
| Others | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Rest of North America | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Russia | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia Pacific | India |
| China | ||
| Japan | ||
| Rest of the Asia-Pacific | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Aquafeed Additives Market Research FAQs
How big is the Aquafeed Additives Market?
The Aquafeed Additives Market size is expected to reach USD 1.60 billion in 2024 and grow at a CAGR of 4.81% to reach USD 2.02 billion by 2029.
What is the current Aquafeed Additives Market size?
In 2024, the Aquafeed Additives Market size is expected to reach USD 1.60 billion.
Who are the key players in Aquafeed Additives Market?
Thai Union, Inve Aquaculture, Growel Feeds Pvt Ltd, BASF and Cargill are the major companies operating in the Aquafeed Additives Market.
Which is the fastest growing region in Aquafeed Additives Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Aquafeed Additives Market?
In 2024, the Asia Pacific accounts for the largest market share in Aquafeed Additives Market.
What years does this Aquafeed Additives Market cover, and what was the market size in 2023?
In 2023, the Aquafeed Additives Market size was estimated at USD 1.52 billion. The report covers the Aquafeed Additives Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Aquafeed Additives Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Aquafeed Additives Industry Report
Statistics for the 2024 Aquafeed Additives market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Aquafeed Additives analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
