Some of the prominent players operating in global aquafeed market Cargill, Alltech, Ridley Corporation, Norel Animal Nutrition, Aller Aqua A/S, Beneo Ingredients GmbH, BASF, DSM, ADDCON, Novus International and Evonik Industries
SELBYVILLE, Del. (PRWEB) December 19, 2018
The Aquafeed market from tilapia production is expected to reach over USD 22 billion by the end of 2024. Rapid expansion of tilapia production capacity in South Asia and Southeast Asia will drive aquafeed industry and meet country's food security needs. Tilapia is cultured globally which improves pond water quality and improves shrimp, production, and survival. In Mexico, there are over 4,625 licensed tilapia farms out of over 9,230 aquaculture licenses. Tilapia and other carps have low protein requirements and can survive on plant-based diets. These aquatic species require small amount of fishmeal which are required to enhance the overall aquafeed market demand.
Global Aquafeed & Aquaculture Additives Market will hit USD 215 billion by 2024; according to a new research report by Global Market Insights, Inc. High quality aquafeed demand has led to rise in feed additives and compound feed consumption. Fish meal and fish oil are the key ingredients used for aquafeed production process. Manufacturers are investing in R&D and looking for suitable replacement to these raw materials which are used for functional feeds, which in turn will promulgate industry growth.
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Growing consumer demand towards seafood products and its types should stimulate aquafeed and aquaculture additives market size. Rise in consumer demand for fish mainly in China, India, Malaysia and Thailand owing to wide range of fishery sources in marine and freshwater will result into enhanced product demand.
Aquaculture additive market from amino acid is likely to reach over USD 400 million at the end of 2024. Manufacturers are using amino acids in aquatic feed as they can potentially reduce nitrogen excretion. Increase in consumption of seafood along with shift in traditional aquatic feeding ways to commercial feeding techniques should enhance product demand.
Salmons should witness significant growth close to 11% during the forecast period. Increasing production of finfish along with market development of Atlantic salmon should drive aquafeed & aquaculture additive market. Over 50% of the finfish is produced in Europe owing to consumer's preference towards salmon and benefits associated with these aquatic animals.
Browse key Aquafeed & Aquaculture Additives Market insights from the 2018 report spread across 275, pages offering 326 market data tables as well as 46 figures & charts along with the table of contents:
Fish oil and fish meal are the major raw materials used in aquafeed production process. Climatic changes and stringent regulations pertaining to catching of fish may affect aquafeed & aquaculture additive market demand supply gap and challenge industry profitability.
North America, with significant gains in the U.S. aquaculture additives market should witness gains close to 4% in sales during the projected timeline. Rise in imported fish and fishery products joined with growing demand for tilapia and catfish feed in this region has resulted in regional aquaculture industry expansion. Low cost and easily available feeds for farmers along with consumption of disease resistance and healthy seafood should fuel product demand in the region.
Aquafeed market from mollusks is projected to reach USD 40 billion by 2024. Farming of mollusks is considered sustainable and human intervention is required to feed them. Microorganisms such as bacteria which are found in guts of mollusks are used in medicinal purpose for neurological treatment of humans. Technological advancement in medical industry also have proven that microorganism found in mollusks can be used in therapeutic treatment of brain.
Feed acidifiers market from aquaculture additives is may witness gains at over 6% during the forecast period. Acidifier functions as conserving agent by reducing the pH of the feed, and thereby inhibiting microbial and other pathogens. Increasing usage of acidifiers to preserve food, minimize pathogen impacts and enhance feed conversion rate should propel demand in aquaculture.
Cargill, Alltech, Norel Animal Nutrition, ADM and Skretting are the key manufacturers in aquafeed & aquaculture additives market. Most of the companies are focusing to develop advanced products to increase the market demand which in turn may escalate the market over the foreseeable time-frame.
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