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Aquafeed Additives Market Size, Share & Trends Analysis Report By Application, By Ingredient, By Region And Segment Forecasts, 2021 - 2028

·3-min read

Aquafeed Additives Market Size, Share & Trends Analysis Report By Application (Tilapia, Catfish), By Ingredient (Feed Acidifiers, Essential Oil & Natural Extracts, Prebiotics), By Region (APAC, CSA), And Segment Forecasts, 2021 - 2028

New York, Jan. 04, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aquafeed Additives Market Size, Share & Trends Analysis Report By Application, By Ingredient, By Region And Segment Forecasts, 2021 - 2028" - https://www.reportlinker.com/p06191057/?utm_source=GNW

Aquafeed Additives Market Growth & Trends

The global aquafeed additives market size is expected to reach USD 2.76 billion by 2028. The market is estimated to reach a CAGR of 3.2% during the forecast years. Increasing consumption of the product for carp, salmon, tilapia, and catfish, due to their rising demand driven by their rich protein content, is anticipated to boost the industry’s growth. The high content of omega-3 fatty acids in carp and its ability to reduce cholesterol levels have augmented their demand, which, in turn, is projected to propel the product demand over the forecast period.

The prevalence of fish mortality due to infections caused by parasites during fish farming also drives the consumption of anti-parasites.Moreover, increasing acceptance for aquafeed containing prebiotics, essential oils & natural extracts, palatants, and feed acidifiers is anticipated to boost the demand in the extended run.

In Asia Pacific, increasing Direct Human Consumption (DHC) of fish coupled with growing population is anticipated to drive the market over the forecast period. The rapid growth in emerging countries, such as China and India can be attributed to large-scale fish farming due to favorable climatic conditions, cheap labor, and abundant availability of resources.

Initiatives, such as Made in China, by the government of China and Make in India by the government of India, are mainly beneficial for the manufacturing sector and are anticipated to boost the production of the product domestically, which is further anticipated to drive the overall market.The market is highly fragmented with the presence of many participants.

Key players focus on mergers and acquisitions to strengthen their presence across the value chain. These players are simultaneously involved in several activities including the production of poultry products, feeding, farming, and marketing to reduce the operational costs.

Aquafeed Additives Market Report Highlights
• The feed acidifiers segment accounted for more than 11% of revenue share in 2020 due to the restricted usage of antibiotics and rising focus on animal health management
• Yeast extracts emerged as the fastest-growing palatant ingredient segment in 2020 and are estimated to expand further at a steady CAGR from 2021 to 2028
• Catfish emerged as the largest application segment in 2020. The segment is estimated to grow at a steady CAGR during the forecast period
• The segment growth is attributed to the increasing demand for catfish on account of its rich content of vitamin D and omega-6 fatty acids
• Central & South America is projected to witness the fastest growth rate from 2021 to 2028 due to the availability of locally produced fish feed made from basic raw materials, such as fish oil and fish meal
• Aquafeed additive manufacturers are engaged in R&D activities to produce natural & organic feed products
• Online distribution of products is growing rapidly compared to direct sales; however, direct sales still hold a larger market value due to easy access
Read the full report: https://www.reportlinker.com/p06191057/?utm_source=GNW

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