SAN FRANCISCO, Sept. 17, 2019 /PRNewswire/ -- The global aquafeed additives market size is expected to reach USD 2.5 billion by 2025, progressing at a CAGR of 3.2% over the forecast period, as per a new report by Grand View Research, Inc. Initiatives, such as Made in China by the government of China and Make in India by the government of India, are mainly beneficial for manufacturing sector and anticipated to boost the production of aquafeed in the domestic market. This is in turn anticipated to drive the demand for aquafeed additives.
Key suggestions from the report:
- Asia Pacific held the largest market revenue share in 2018 and is projected to ascend at the highest CAGR of 3.7% over the forecast period
- In 2018, China emerged as the prominent producer of aquafeed additives and importer of barley, fishmeal, rapeseed, soybeans, and sorghum, which are extensively utilized in producing aquafeed additives
- About 80% of the producers of aquafeed additives sell their products directly to fish farmers or feed manufacturers either on credit or in cash and the remaining 20% producers sell their products through intermediaries such as traders
- Aquafeed additives, such as antiparasites, feed acidifiers, and palatants, are preferred while preparing aquafeed as they assist in diminishing bacteria present in the feed, enhance quality of the feed, and minimize the risk of diseases in fish
- High fluctuations in raw material prices coupled with moderate prices of aquafeed owing to rising competition among manufacturers are anticipated to restrict the growth of the market.
Read 111 page research report with ToC on "Aquafeed Additives Market Size, Share & Trends Analysis Report By Ingredient (Anti-Parasitic, Feed Acidifiers, Prebiotics, Palatants), By Application, By Region, And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/aquafeed-additives-market
In 2018, China emerged as the prominent producer of aquatic feed additives and importer of barley, fishmeal, rapeseed, soybeans, and sorghum, which are extensively utilized in producing aquafeed additives. In addition, increasing consumption of salmon, catfish, and crustaceans in food sector in Asia Pacific is anticipated to drive the demand for feed for these species. In February 2019, Olmix Group launched its Searup and Algimun from the Olmix's Immunity range to establish a successful market presence, which is also likely to drive the growth of aqua feed additives market in the near future.
The requirement of nutrients varies with the diet and the life stage of animals. Addition of insect meal in the diet of fish helps improve their immune system as well as promote performance. Hence, several feed manufacturers are focusing on the production of insect meal. Increasing preference toward natural feed and organic feed products among aquafeed manufacturers is an evolving trend, which is anticipated to drive the use of plant-based feed additives.
Grand View Research has segmented the global aqua feed additives market on the basis of ingredient, application, and region:
- Ingredient Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
- Feed Acidifiers
- Essential Oils & Natural Extracts
- Yeast Extracts
- Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
- Rainbow Trout
- Sea Bass
- Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
- South Africa
Find more research reports on Animal Feed and Feed Additives Industry, by Grand View Research:
- Mannan Oligosaccharide (MOS) Market – Increasing demand for livestock on account of rising consumption of animal based nutritional products is expected to act as a driving factor for global MOS market over the forecast period.
- Animal Antimicrobials And Antibiotics Market – Growing demand for livestock products is anticipated to positively influence the global animal antimicrobials and antibiotics market over the next seven years.
- Phytogenics Market – Global phytogenics market is anticipated to witness substantial growth owing to its increasing application in animal feed on account of growing demand for meat over the forecast period.
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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