Wilmington, Delaware, United Stat, Feb. 02, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global aquafeed additives market is estimated to flourish at a CAGR of 4.6% from 2023 to 2031. Transparency Market Research projects that the overall sales revenue for aquafeed additives is estimated to reach US$ 3.8 billion by the end of 2031.
A prominent driver is the exploration of alternative protein sources. As the aquaculture, industry seeks sustainable alternatives to traditional protein ingredients, researchers and companies are delving into novel protein-rich additives derived from insects, microorganisms, and plant-based sources.
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Some prominent manufacturers are as follows:
- DuPont
- Kemin Industries Inc.
- Adisseo
- Aker Biomarine
- Calanus AS
- Norel S.A.
- Alltech
- Diana Group
- Camlin Fine Sciences Ltd.
- Delacon
- Nouryon
- Biorigin
- Lallemand Inc.
- Olmix Group
- Inve Aquaculture
- Growel Feeds Pvt. Ltd.
- BASF SE
- Cargill Incorporated
Microbiome modulation is emerging as an influential driver. Understanding the gut microbiota of aquatic species and developing additives that positively influence digestive health and nutrient absorption is gaining prominence. The market is witnessing a surge in demand for probiotics, prebiotics, and other microbiome-targeted additives.
The integration of precision aquaculture technologies is reshaping the industry. From smart feeding systems to real-time monitoring, the adoption of precision technologies optimizes feed utilization and health management, driving the demand for specialized aquafeed additives.
Aquafeed additives with immunostimulatory properties represent a significant driver. With a growing recognition of the importance of immune health in aquaculture, additives that enhance the innate immune response of aquatic species are gaining traction, contributing to disease resistance and overall well-being.
Key Findings of the Market Report
- Prebiotics emerge as a leading type segment in the aquafeed additives market, fostering gut health and enhancing overall digestive efficiency in aquaculture.
- Animal sources dominate the aquafeed additives market, providing essential nutrients for optimal growth and health in farmed fish.
- Marine shrimp takes the lead in the aquafeed additives market, with a focus on enhancing growth, health, and sustainability in aquaculture.
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Aquafeed Additives Market Growth Drivers & Trends
- Growing emphasis on environmentally friendly aquaculture fuels demand for additives supporting sustainable and responsible fish farming.
- Increasing focus on fortified aquafeed additives to enhance the nutritional value of fish and improve overall growth and health.
- Consumer demand for ethically sourced and nutritionally enriched seafood drives innovation in aquafeed formulations and additives.
- Ongoing research and development efforts lead to the introduction of advanced additives, leveraging technology for improved feed efficiency and disease resistance in aquaculture.
- The expanding aquaculture industry, particularly in Asia-Pacific, drives the demand for high-quality aquafeed additives, presenting growth opportunities for market players.
Global Aquafeed Additives Market: Regional Profile
- In the aquafeed additives market, North America stands as a key player, boasting a robust aquaculture industry. The region is characterized by leading companies like Cargill and Archer Daniels Midland Company, which contribute to the market's growth with innovative additives.
- Western Europe is a significant contributor to the global aquafeed additives market, with a strong emphasis on sustainable and environmentally friendly aquaculture practices. Countries like Norway and Spain are pivotal in the industry, hosting major players like BioMar and Nutreco. The region's commitment to responsible aquaculture aligns with the rising consumer demand for ethically sourced seafood.
- The South Asia & Pacific region is emerging as a key player in the aquafeed additives market, driven by the expanding aquaculture industry in countries like India, Vietnam, and Indonesia. Rising disposable incomes and increased awareness of the nutritional benefits of seafood contribute to the growing demand for high-quality aquafeed.
Aquafeed Additives Market: Competitive Landscape
The aquafeed additives market is characterized by intense competition, with key players vying for market share. Companies like Cargill, Archer Daniels Midland Company, and Alltech dominate with extensive product portfolios, emphasizing sustainable and high-performance additives. Emerging players such as Norel Animal Nutrition and Biomin are gaining traction, introducing innovative formulations.
The industry is propelled by a rising focus on aquaculture sustainability, driving continuous research and development. Strategic collaborations, mergers, and acquisitions are prevalent, reflecting the dynamic nature of the market as companies strive to meet the evolving demands for efficient, eco-friendly, and nutritionally enriched aquafeed solutions.
Product Portfolio
- Calanus AS specializes in sustainable harvesting of Calanus finmarchicus, a tiny crustacean rich in omega-3 fatty acids. Their innovative marine ingredients support human and animal health, offering nutritional solutions derived from the pristine waters of the North Atlantic.
- Norel S.A. is a global leader in animal nutrition, providing cutting-edge feed additives and health solutions. With a focus on innovation, Norel enhances animal performance, welfare, and product quality, contributing to sustainable and efficient farming practices worldwide.
Aquafeed Additives Market: Key Segments
By Type
- Amino Acids
- Antioxidants
- Antibiotics
- Anti-parasitics
- Palatants
- Essential Oils & Natural Extracts
- Minerals
- Prebiotics
- Vitamins
- Enzymes
- Others
By Source
- Plant
- Animal
- Microorganism
By Application
- Carp
- Marine Shrimp
- Tilapia
- Catfish
- Salmon
- Seabass
- Rainbow Trout
- Grouper
- Others
By Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa
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