Articles
Aquafeed Additives Market Size, Share, Growth, Trend Analysis and Forecast Report
by Susan Hill Business ConsultantThe
global aquafeed additives market size is expected to
reach USD 2.5 billion by 2025, progressing at a CAGR of 3.2% over the forecast
period, as per a new report by Grand View Research, Inc. Initiatives, such as
Made in China by the government of China and Make in India by the government of
India, are mainly beneficial for manufacturing sector and anticipated to boost
the production of aquafeed in the domestic market. This is in turn anticipated
to drive the demand for aquafeed additives.
In 2018,
China emerged as the prominent producer of aquatic feed additives and importer
of barley, fishmeal, rapeseed, soybeans, and sorghum, which are extensively
utilized in producing aquafeed additives. In addition, increasing consumption
of salmon, catfish, and crustaceans in food sector in Asia Pacific is
anticipated to drive the demand for feed for these species. In February 2019,
Olmix Group launched its Searup and Algimun from the Olmix’s Immunity range to
establish a successful market presence, which is also likely to drive the
growth of aqua feed additives market in the near future.
The
requirement of nutrients varies with the diet and the life stage of animals.
Addition of insect meal in the diet of fish helps improve their immune system
as well as promote performance. Hence, several feed manufacturers are focusing
on the production of insect meal. Increasing preference toward natural feed and
organic feed products among aquafeed
manufacturers is an evolving trend, which is anticipated to drive the use of
plant-based feed additives.
Further key
findings from the report suggest:
- Asia Pacific
held the largest market revenue share in 2018 and is projected to ascend
at the highest CAGR of 3.7% over the forecast period
- In 2018, China
emerged as the prominent producer of aquafeed additives and importer of
barley, fishmeal, rapeseed, soybeans, and sorghum, which are extensively
utilized in producing aquafeed additives
- About 80% of
the producers of aquafeed additives sell their products directly to fish
farmers or feed manufacturers either on credit or in cash and the remaining
20% producers sell their products through intermediaries such as traders
- Aquafeed
additives, such as antiparasites, feed acidifiers, and palatants, are
preferred while preparing aquafeed as they assist in diminishing bacteria
present in the feed, enhance quality of the feed, and minimize the risk of
diseases in fish
- High
fluctuations in raw material prices coupled with moderate prices of
aquafeed owing to rising competition among manufacturers are anticipated
to restrict the growth of the market.
Access full
research report on global aquafeed additives market:
www.grandviewresearch.com/industry-analysis/aquafeed-additives-market
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About Susan Hill 
Business Consultant
145 connections, 2 recommendations, 567 honor points.Joined APSense since, September 25th, 2017, From California, United States.
Created on Oct 10th 2019 02:10. Viewed 351 times.
