The global aquafeed additives market size is expected to reach USD 2.86 billion by 2030, according to a new study by Polaris Market Research. The report “Aquafeed Additives Market Share, Size, Trends, Industry Analysis Report, By Product; By Application (Carp, Rainbow Trout, Salmon, Crustaceans, Tilapia, Catfish, Sea Bass, Groupers, Others); By Source; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The incidence of fish mortality owing to parasite infections during aquacultural drives the usage of anti-parasites. The rising adoption of aquafeed, including prebiotics, essential oils, natural extracts, palatants, and feed acidifiers, is expected to drive demand in the long run.
Key firms are pursuing mergers and acquisitions to increase their footprint across the value chain. To lower operational expenses, these actors are active in numerous operations simultaneously, including manufacturing chicken products, feeding, farming, and advertising. Also, an epidemic of many livestock diseases has raised worries about meat quality and safety, which is expected to boost the usage of animal feed additives.
Based on the application, the catfish segment accounted for the leading share in the industry in 2021. This is due to increased customer demand for the product's high vitamin D and omega-6 fatty acid content. Tilapia is a freshwater fish cultivated in aquaculture in over 135 countries due to its low-cost vegetarian feed, main ingredient, enormous size, and rapid growth. Its adaptability and sturdiness to different cultural systems are projected to broaden its product area.
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Industry players such as Nutriad Inc., Kemin Industries Inc., Dupont De Nemours Inc. ALLER AQUA A/S, Coppens International B.V., ALLTECH, INC., Biomin GmbH, Charoen Pokphand Foods Public Company Limited, Avanti Feeds Limited, Diana Group, Norel S.A., Olmix Group, Delacon Biotechnik Gmbh, Lallemand Inc., and Camlin Fine Sciences Inc.Are some key players operating in the global industry.
Several manufacturers often opt for varied marketing strategies to expand their business operations globally. In February 2021, Kemin Industries, a worldwide ingredient manufacturing company that strives to improve the quality of life for 80 percent of the worldwide people every day through its products and services, has introduced KemTRACE Chromium-OR, a biological chromium propionic acid feed compound found for use in swine, cattle, broiler, and horse diets.
Polaris Market Research has segmented the aquafeed additives market report based on product, application, source, and region:
Aquafeed Additives, Product Outlook (Revenue - USD Million, 2018 - 2030)
Aquafeed Additives, Application Outlook (Revenue - USD Million, 2018 - 2030)
Aquafeed Additives, Source Outlook (Revenue - USD Million, 2018 - 2030)
Aquafeed Additives, Regional Outlook (Revenue - USD Million, 2018 - 2030)