Aquafeed Additives Global Market Report 2024

Aquafeed additives refer to substances used to enhance the quality of aquatic species' diets by preserving the physical and chemical integrity of their feed. These additives, whether nutritive or non-nutritive, are incorporated in small quantities. Characterized by high protein and omega-3 fatty acids content, aquafeed additives contribute to improved nutritional value in feed, resulting in benefits such as accelerated growth rates, enhanced feed conversion efficiency, and a bolstered immune system.

The primary sources of aquafeed additives are animals, microorganisms, and plants. Animal-sourced additives encompass growth promotants, antibiotics, hormones, and essential nutrients in refined forms, such as vitamins, minerals, amino acids, cholesterol, and phospholipids. Aquafeed additive ingredients include anti-parasitic agents, feed acidifiers, prebiotics, essential oils, natural extracts, palatants, and other components. These ingredients are utilized in formulating feeds for various aquatic species, including carp, rainbow trout, salmon, crustaceans, tilapia, catfish, sea bass, and grouper.

The aquafeed additives market research report is one of a series of new reports that provides aquafeed additives market statistics, including aquafeed additives industry global market size, regional shares, competitors with a aquafeed additives market share, detailed aquafeed additives market segments, market trends and opportunities, and any further data you may need to thrive in the aquafeed additives industry. This aquafeed additives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The aquafeed additives market size has grown strongly in recent years. It will grow from $1.63 billion in 2023 to $1.76 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The expansion observed in the historical period can be attributed to factors such as the burgeoning aquaculture industry, increasing emphasis on nutritional requirements, and a focus on health and disease management within the sector.

The aquafeed additives market size is expected to see strong growth in the next few years. It will grow to $2.32 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The anticipated growth in the forecast period can be attributed to several key factors, including population growth and urbanization, a heightened focus on environmental sustainability, regulatory changes, and the influence of global economic trends. Noteworthy trends expected during this period encompass increased investment in research and development, the adoption of sustainable practices, the emergence of alternative proteins, the use of functional feed ingredients, the integration of digitalization and precision aquaculture, a trend towards customization in formulations, and the incorporation of clean label additives.

The growth trajectory of the aquafeed additives market is anticipated to surge due to the escalating consumption and demand for seafood. Consumer preferences for seafood as a primary protein source, coupled with the rising interest in exotic marine species like shrimp and oysters, are driving this surge. These marine species offer substantial health benefits with high levels of vitamins, fats, essential amino acids, and beneficial oils like sardine oil and squid oil. For instance, the OECD projects a substantial rise in fish consumption, estimating a 16.3% increase by 2029, with 90% of produced fish anticipated for human consumption. Thus, the escalating consumption of seafood and marine species is a prime driver for the aquafeed additives market.

The aquafeed additives market is set to witness significant growth owing to increased governmental initiatives supporting aquaculture practices. Governments worldwide, exemplified by nations such as India, the USA, and China, are implementing strategic initiatives to bolster the aquaculture sector. Aquafeed additives play a crucial role in enhancing feed quality and fostering the growth and well-being of aquatic species. An illustrative example is Australia's introduction of the National Aquaculture Statement in April 2021, demonstrating a commitment to fostering a robust, innovative, and sustainable domestic aquaculture industry. This initiative, developed in collaboration with various stakeholders, showcases governmental support crucial for driving the aquafeed additives market.

Innovation stands as a pivotal trend shaping the aquafeed additives market. Embracing innovation enables companies to stay competitive and continually enhance their offerings. This sector sees considerable diversification, producing numerous species across various production platforms. Companies focus on elevating nutritional knowledge, analyzing alternative raw ingredients, and employing cutting-edge innovations. Notably, in September 2022, Secma Cabon Solution Vide introduced MultyWays, a revolutionary aquafeed delivery system, featuring the patented CleanPipe system, DosAir, and Multiways valves. This integration optimizes output and profitability, allowing for increased yield with more frequent daily feedings, reduced manual handling, lower labor costs, and improved safety through minimized feeding motions.

Major players in the aquafeed additives market are strategically introducing rotifer substitution diets, aiming to innovate and gain a competitive advantage. Rotifer substitution diets serve as formulated feed alternatives designed to decrease or replace the reliance on live rotifers, a primary feed source for early-stage fish and crustaceans in aquaculture. An example of this strategic approach was seen in December 2021, when INVE Aquaculture, a Belgium-based aquafeed producer, introduced Natura pRo and ExL feed lines, the first-ever rotifer substitution diets. These diets offer hatcheries the opportunity to cut down their dependence on rotifers by over half while significantly enhancing fry quality and survival rates. The formulations provide comprehensive technical and nutritional support, assisting from the initial stages of exogenous feeding to the weaning phase. Natura pRo specifically focuses on ingredient selection to ensure superior nutritional digestion and palatability, making the feed highly appealing to larvae right from the onset of exogenous feeding.

In April 2022, Marel, an Iceland-based food processing company, completed the acquisition of Wenger Manufacturing LLC for a significant deal amounting to $540 million. This strategic move by Marel involves investing in emerging and complementary growth markets, marking the formation of a new business segment. Wenger Manufacturing LLC, based in the United States, specializes in processing solutions for pet food, plant-based proteins, and aquafeed, aligning well with Marel's expansion goals into new market segments, including the aquafeed sector.

Major companies operating in the in the aquafeed additives market report are Aker Biomarine, Alltech, Biorigin, Kemin Industries Inc., Norel SA, BioMar Group A/S, Cargill Inc., DuPont de Nemours Inc., Nutreco NV, Nutriad Ltd., Calanus AS, Olmix Group, Lallemand Inc., Nouryon B. V., Delacon Biotech Nik Ges. m. b. H., Camlin Fine Sciences Ltd., Diana S. A. S., Aller Aqua A/S, Archer Daniels Midland Company, Ridley Corporation Ltd., Thai Union, Inve Aquaculture Inc., Growel Feeds Pvt. Ltd., BASF SE, Bluestar Adisseo Company, Wilbur-Ellis Nutrition LLC, Purina Animal Nutrition LLC, Koninklijke DSM N. V., Skretting, Clextral S. A. S., Trouw Nutrition LLC, Balchem Corporation, AquaBounty Technologies, Scoular, Nutra Blend LLC

North America was the largest region in the aquafeed additives market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aquafeed additives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the aquafeed additives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The aquafeed additives market consists of sales of preservatives, antioxidants, and emulsifiers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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