Visiongain Publishes Aquaculture Additives Market Report to 2031

03 March 2021
Food and Drink

Visiongain has published a new report on Aquaculture Additives Market Report to 2031: Forecasts by By Product Type (Amino Acids, Vitamins, Feed Acidifiers, Anti-Parasitic, Antibiotics, Anesthetic & Sedation Materials, Others), By Application (Mollusks, Shrimps, Catfish, Carp, Salmon, Trout, Tilapia, Sea Bass, Others), By Distribution Channel (Online Channels, Offline Channels) PLUS Profiles of Leading Aquaculture Additives Manufacturing Companies and Regional and Leading National Market Analysis, PLUS COVID-19 Recovery Scenarios.

Global Aquaculture Additives market was valued at US$ XX million in 2020 and is projected to reach a market value of US$ xx million by 2031. Growth in the aquaculture industry coupled with the increasing seafood trade is propelling the demand for aquaculture additives.

COVID-19 Impact on Aquaculture Additives Market

The COVID-19 pandemic has hit the aquaculture industry hard, which in turn has impacted the aquaculture additives market. Aquaculture additives are primarily purchased by the animal feed producers, whose demand is predominantly determined by the downstream consumption and the demand for these products has considerably changed amid the COVID-19 pandemic. The demand for seafood has declined worldwide with most of the regions experiencing lockdown. The hospitality sector that includes lodging, food and drink service has been severely impacted with a steep decline in the outdoor visits by the public owing to the fear of getting affected by the virus. Additionally, fish and fish products are highly dependent on the international trade that has experienced the issues related to logistics and supply chain disruptions due to the closure of global markets and stalled transportation.

Market Drivers

The fast growing aquaculture industry coupled with the huge ongoing investments in the sector

Aquaculture is among the fastest growing segment among the food animal industry and the global human population is expected to eat approximately 30 million tons of fish by 2030, thereby accelerating the demand for aquaculture feed and thus the aquaculture additives. The global aquaculture production witnessed a growth rate of 527% from 1990 to 2018 and a total rise in consumption of 122% during the same period. Additionally, government initiatives are being undertaken across various countries to grab the opportunities generated by the aquaculture industry. For instance, the Government of India formulated and launched the “Development of Inland Fisheries and Aquaculture” scheme, which is a Centrally Sponsored Scheme under the macro-management approach in States/UT’s during the 10th Plan. Moreover, the Norwegian companies have developed business and co-operation links with the Vietnamese companies dealing in fishery, aquaculture, and processing industry to explore the business opportunities in Vietnam. The ever-increasing demand for seafood and investments in the sectors is accelerating the growth of aquaculture additives across the globe.

Need to fight against aquaculture diseases

Vibriosis, edwardsiellosis, renibacteriosis, pseudomonasis and aeromonasis are among the most important bacterial diseases and negatively impact the fish farming industry. To ensure healthy aquaculture life the feed manufacturers procure efficient and effective aquaculture additives in feed manufacturing. The aquatic animal disease is one of the most important constraints in the development and expansion of sustainable aquaculture. The aquaculture industry has witnessed a trend of previously unreported pathogens that leads to new diseases that spread rapidly, across national borders and thereby leading the major production loss. To tackle the diseases the aquaculture companies are procuring aquaculture feed that helps the fishes fight against these diseases. To ensure the production of healthy fishes with strong immunity, the feed manufacturers use aquaculture additives, thereby accelerating the overall growth of the market.

Market Opportunities

Technological advancement in the aquaculture additives

Technologies such as artificial intelligence (AI) is being used to ensure proper and nutritional feed for the aquaculture. This helps the fish farmers to keep their fishes healthier and improve the yield in addition to helping the researchers to gather relevant data related to the aquaculture and use it in the development of improved feed additives. For instance, in February 2019, AKVA a global aquaculture company along with Observe Technologies, a British artificial intelligence company developed software to efficiently feed the fishes. The software monitors the behaviour of fish and uses it to assist the operator to feed the fishes. Another company named eFishery, has developed a system that detects the level of hunger in fish and shrimp using sensors and it had helped the companies to reduce feed costs by approximately 25%. Technological developments like these are promoting the aquaculture feed manufacturers to use them and also benefit the aquaculture additive manufacturers.

Natural aquaculture feed additives are creating lucrative opportunities in the market

Aquaculture impacts directly on farm’s environment as after the consumption of feeds by the fish and shrimp they release ammonia and faeces in the surrounding water. Nor-Feed, an aquaculture additives manufacturing company has developed 100% natural aquaculture additive for aquatic species that decreases the amount of ammonium released by the aquatic species in water bodies. Additionally, Bionetix, a subsidiary of Cortec Corporation manufactures microbial based bio‐products as natural feed additives for the aquaculture life to help reduce diseases and mortality along with improvement in the weight gain for fish, shrimp, and other aquatic species. The research and development in the field of natural aquaculture feed additives are further expected to propel the market growth.

Competitive Landscape

Some of the companies profiled in the report include Cermaq Group AS, Cargill Incorporated, Ridley Corporation Limited, Norel Animal Nutrition, BENEO GmbH, and Royal DSM among others. Companies are investing in organic and inorganic strategies such as new product development, mergers and acquisitions, and joint ventures among others to gain a competitive edge. In December 2019, ADM installed a new animal nutrition technology center in Illinois, U.S. for the development of feed ingredients for aquaculture. The new facility will allow the company to closely collaborate with the customers to provide new ingredients and to identify the unmet needs to support the development of feed additives.

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongain.com or call her on +44 (0) 20 7549 9987.

About Visiongain
Visiongain is one of the fastest-growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.

Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.

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