Selbyville, Delaware, Oct. 05, 2021 (GLOBE NEWSWIRE) --
The aquafeed and aquaculture additives market value is projected to cross USD 116 billion by 2027, according to a new research report by Global Market Insights Inc. Growing demand for fish meal production and fish farming trends is stimulating market growth.
Aquafeed and aquaculture additives market size from another products segment was valued at over USD 60 million in 2020. Other types of aquafeed additives include organic & inorganic trace minerals, feed enzymes, antioxidants and NPN. The increasing applications of antioxidants to prevent various nutrients in livestock from deterioration and perform proper metabolism activities are likely to drive product demand in aquaculture applications.
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Minerals are necessary for various biochemical processes in fish body, and they maintain osmotic pressure, acid-base balance, regulation of blood pH level, hemolymph, urine, and other body fluids. They play an important role in developing soft tissues, hormones, respiratory pigments, and vitamins. They also perform essential muscle contraction and transmission of nerve impulse. This creates a need for the incorporation of minerals into aquafeed to regulate optimal growth and production. Minerals involve in cellular metabolism, formation of skeletal structure, operating colloidal system, and regulation of acid-base equilibrium.
Some major findings of the aquafeed and aquaculture additives market report include:
- The market is anticipated to gain traction with a CAGR of over 5% through 2027.
- Tilapia segment is anticipated to register a CAGR of over 5% through 2027. Tilapia is among the easiest & most profitable to farm owing to its omnivorous diet, mode of reproduction, rapid growth, and tolerance to high stocking density.
- Catfish segment is anticipated to reach over USD 10.75 billion by 2027 as catfish is a source of omega-3 and omega-6 fatty acids, protein, B-12 vitamin, and minerals such as magnesium.
- Some of the key players operating in the market are NK Ingredients Pte. Ltd., Dibaq A.S., Evonik Industries, Growel Feeds, Skretting, and others.
- North America market is projected to witness a CAGR of over 4.7% during the forecast period owing to the increasing fish farming trends and significant aquaculture expansion.
Browse key industry insights spread across 280 pages with 326 market data tables and 46 figures & charts from the report, “Aquafeed And Aquaculture Additives Market Forecasts By Application (Crustaceans, Mollusks, Carp, Salmon, Catfish, Tilapia), Aquaculture Additives Market Size By Product (Amino Acids, Antibiotics, Vitamins, Feed Acidifiers), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/aquafeed-and-aquaculture-additives-market
Europe Aquafeed and aquaculture additives market is expected to register over 4.7% between 2021 and 2027. The Europe aquaculture industry is dependent on complex commercial aquafeed. Rainbow trout, Atlantic salmon, seabass, and sea breams are mots farmed species in the European market. Countries including Norway, Greece, Scotland, and Spain are major producers of these species, driving the regional aquafeed industry demand.
Europe is a rich and huge base for aquafeed manufacturing resources such as fish meal, fish oil plant-based proteins, and water bodies. Substantially, the rising processed food and fast-food industry, changing consumer preference of ready-to-eat foods, and rising disposable income will propel the regional aquaculture industry along with the aquafeed market. The recent approval of insect-based protein for aquaculture by the EU for manufacturers complying with hygiene & safety standards will drive product demand.
Browse the Toc of this report @ https://www.gminsights.com/toc/detail/aquafeed-and-aquaculture-additives-market
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
