SAN FRANCISCO, July 10, 2019 /PRNewswire/ -- 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.
Key suggestions from the report:
- 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.
Read 125 page research report with TOC on "Aquaculture Additives Market Size, Share & Trends Analysis Report By Product (Amino Acids, Vitamins, Anti-Parasitics, Feed Acidifiers, Anesthetic & Sedation Materials), By Application, And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/aquaculture-additives-market
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.
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)
- Sea Bass
- Aquaculture Additives Product Outlook (Revenue, USD Million, 2014 - 2025)
- Amino Acids
- Feed Acidifiers
- Anesthetic & Sedation materials
- Aquaculture Additives Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- Asia Pacific
- Central & South America
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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