Aquaculture Feed and Pharmaceutical Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

The global market size for aquaculture feed and pharmaceuticals is currently estimated to be at US$999.4 million in 2024. It is anticipated that there will be a steady demand for these products worldwide, with a projected Compound Annual Growth Rate (CAGR) of 7.4%. As a result, the market is expected to reach a valuation of US$2 billion by the conclusion of 2031.

The global aquaculture feed and pharmaceuticals market is poised for significant growth through 2031, driven by continuous advancements and research in the field of pharmaceuticals and biologics. A recent market analysis indicates that the pharmaceutical and biologics segment will emerge as the dominant force in this industry, both in terms of value and growth with the biologics sub-segment expected to outperform others, boasting an impressive 7.7% compound annual growth rate (CAGR) during the forecast period.

Most Lucrative Segment with Strong Market Attractiveness

Among various product types, the pharmaceutical and biologics segment is set to be the most lucrative, boasting a market attractiveness index of 1.6. In contrast, the medicated feed segment is expected to be the least attractive, with a market attractiveness index of 0.4.

Driving Factors Behind Market Growth

Several factors are fueling the growth of the pharmaceutical and biologics segment in the aquaculture feed and pharmaceuticals market. There is a growing demand for structured research and development in the aquaculture field, particularly in biologics research. This has led to a faster introduction of drugs, medicated feed, and vaccines into regional markets, particularly in developed countries such as the United States and Canada. Such initiatives have stimulated inorganic growth through strategic partnerships and M&A activities among key industry players.

Key Trends and Developments

In the United States, the use of extra label drugs in aquaculture, under the guidance of licensed veterinarians, has opened up opportunities for the development of medicated feed and pharmaceuticals. Regulatory bodies, such as the FDA, support the use of approved extra label aquaculture medicated feeds, provided they meet compliance conditions. This development is expected to expand the scope for further advancements in medicated feed and pharmaceuticals for aquaculture.

Furthermore, the demand for in-feed medication as a prophylactic measure is on the rise in the global aquaculture feed and pharmaceutical market. The adoption of in-feed medication to prevent the spread of diseases among healthy fish is growing, particularly in organized fishing farms across Europe. This trend aligns with the limited use of antibiotics in the region.

Governmental Collaborations Drive R&D

Governments in various countries are initiating collaborative research and development efforts in partnership with regulatory bodies to enhance the availability of high-quality medicated feed and pharmaceuticals for aquaculture. As aquaculture becomes a crucial source of food for human consumption, the need for safe and effective treatments for various fish diseases has grown significantly.

Challenges Ahead

Despite the growth prospects, the lack of harmonization of veterinary medicinal products and medicated feed regulations across different regions, particularly in the European Union, poses challenges. Different laws for manufacturing veterinary medicines and medicated feed, along with varying residue limits of veterinary medicines in feed, hinder market estimation and forecasting efforts.

Competitive Analysis:

Some of the prominent players in the global market for aquaculture feed & pharmaceutical market are:

• Zoetis, Inc.
• Schouw & Co
• Ridley Corporation Ltd
• Merck & Co Inc
• Biomin Holding GmbH
• Aller Aqua A/S
• Nutriad Ltd.
• Alltech Inc.
• Avanti Feeds Ltd.
• Norel S.A.
• Cargill, Incorporated
• Beneo GmbH
• Skretting AS
• Novus International Inc.
• Growel Feeds Pvt. Ltd.
• Neovia Vietnam
• Evonik Industries AG
• Bayer AG
• Koninklijke DSM N.V
• Others.

Market Segmentation

Product Type

• Pharmaceutical and Biologics
• Anti-infectives
• Parasiticides
• Biologics
• Others
• Medicated Feed
• Vitamins and Minerals
• Amino Acids
• Acidifiers
• Others

Species

• Molluscs
• Shrimp
• Salmons
• Carps
• Tilapia
• Catfish
• Others

Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa (MEA)

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