22-Oct-2019: The 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.
In
depth research report on Aquaculture Additives 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.
Grand View Research
has segmented the global aquaculture additives market on the basis of product,
application, and region:
Aquaculture Additives Application Outlook (Revenue, USD
Million, 2014 - 2025)
·
Carp
·
Mollusks
·
Salmon
·
Shrimps
·
Tilapia
·
Catfish
·
Sea Bass
·
Trout
·
Others
Aquaculture Additives Product Outlook (Revenue, USD Million,
2014 - 2025)
·
Amino Acids
·
Antibiotics
·
Vitamins
·
Feed Acidifiers
·
Anesthetic & Sedation materials
·
Anti-Parasitics
·
Others
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more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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