Global Aquafeed Additives Market was valued at US $ XX Mn and expected to grow at XX% Compound Annual Growth Rate (CAGR) from 2018 to 2024.
Market Outline: Global Aquafeed Additives Market
Aquafeed additives are the nutritive or non-nutritive ingredients that are added in trace amounts (alone or in combination) for a specific purpose, such as to improve the quality of a fish as a final product and to preserve the physical and chemical quality of the diet and to assist the growth of the fish with the help of growth promoters such as antibiotics and hormones. These are also used in facilitating feed ingestion and also increases the consumer acceptance of the products as it contains essential nutrients in purified form. In recent days, these are used to reduce the diseases that are occurring aquatic animals due the rise in environmental pollution.
Market Dynamics: Global Aquafeed Additives Market
Increase in consumption and demand for the seafood are the major driving factors for the growth of the market over the forecasted period. In addition, government initiatives for the development of products and investments by the major companies in new product development in local and international market to expand their portfolio expected to offer significant growth for the aquafeed additives market. However, strict environmental regulations regarding the fish catching process expected to restrain the growth of the aquafeed additives market
Market Scope: Global Aquafeed Additives Market
Global Aquafeed Additives market is segmented based on Product Type and By Application type
Based on Product type, market is segmented into the following:
- Amino acids
- Feed Acidifiers
Based on Application type, market is segmented into the following:
Regional Analysis: Global Aquafeed Additives Market
Geographically, global aquafeed additives market is widespread into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Asia Pacific accounted for major share in the aquaculture feed additives market due to expansion of the production and growth of salmon farming in the region owing to easy farming techniques and ability to grow within the land based farm systems expected to boost the growth of the aquafeed additives market. Moreover, high resource availability and low labor wages drive the Asia Pacific aquafeed additives market. North America is expected to propel the highest growth rate in the forecasted years. Europe and Latin America are expected to show significant in the upcoming years
Competition Assessment: Global Aquafeed Additives Market
Some of the players in the global Aquafeed Additives market include:
- Alltech Inc.
- Cargill, Inc.
- Bentoli Inc.
- Kemin Industries
- Nore;l S.A.
New updates: Global Aquafeed Additives Market
- In October 2018, Cargill, Inc. has announced the launch of Latitude ™, a plant based fish oil alternatives that provides long chain Omega-3 fatty acids for aquafeed for fish feed applications.