Aquaculture Additives Market Size, Share, Growth, Trends and Forecast Report, 2019 to 2025
by Susan Hill Business ConsultantThe
global aquaculture additives market size is expected to
reach USD 1.52 Billion by 2025, according to a new report by Grand View
Research, Inc. It is projected to register a CAGR of 3.2% during the forecast
period. Rising awareness regarding the benefits of additives to promote healthy
development of fish is anticipated to be a key driver for aquafeed market
growth.
Importance
of certain mollusks, such as clams and oysters as a source of food for humans
coupled with their health benefits is expected to boost their demand in near
future. Demand for mollusks to improve quality of the surrounding environment
has also been prevalent in polyculture systems. Due to their multiple
applications for consumers and the agriculture industry, demand for this
species is likely to increase significantly during the forecast period boosting
the demand for aquafeed. The global aquaculture additives market is expected to
witness a decent growth on account of the surge in demand for fish food, which
is expected to grow on account of a rise in preference for high protein,
calcium, vitamin D, and iodine rich food.
Asia Pacific
led the global aquafeed
market with over 50% of overall market value and is anticipated to
continue leading over the forecast period. Rise in aquaculture activities in
the region owing to abundant availability of land coupled with favorable
climatic conditions has resulted in a significant growth in demand for aquafeed.
China, Vietnam, Indonesia, India, Thailand, and Bangladesh contribute to a
major share of the global aquafeed production leading to increased aquaculture
additives in the region. Rising number of government initiatives to create
awareness regarding the benefits of additives is anticipated to further aid the
product consumption over the forecast period.
Europe
aquaculture additives and aquafeed market expanded significantly over the past
decade primarily as a result of the expansion of marine aquaculture sector in
the European Union (EU) and European Free Trade Association countries.
Significant improvement in the efficiency of feed and environmental management
is expected to drive the regional aquaculture sector, propelling aquafeed
market.
Further
key findings from the report suggest:
- Amino
acids
product segment held the dominant market share of over 32.2% in 2017
- Carp application segment is
projected to ascend at a CAGR of 5.0% over the forecast period
- Sea bass aquafeed is anticipated
to expand at the highest CAGR, while salmon and mollusk segments are
anticipated to witness above average growth over the forecast period
- Aquaculture and aquafeed market
players adopt strategies, such as acquisitions to widen their product
offerings and countering the issues faced by aqua producers such as
mineral absorption, feed costs, and efficiency
- Some of the key companies present in the aquaculture additives market are Alltech, Inc.; BioMar A/S; Cargill, Inc.; Ridley Corporation Limited; Norel S.A.; Aller Aqua A/S; Beneo GmbH; Cermaq Group AS; Dibaq A.S.; and Addcon GmbH.
Access
full research report on global aquaculture additives market:
www.grandviewresearch.com/industry-analysis/aquaculture-additives-market
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Created on Oct 14th 2019 08:28. Viewed 533 times.