all report title image
  • Published On : Nov 2022
  • Code : CMI5279
  • Industry : Food and Beverages
  • Pages : 175
  • Formats :

The global fish, fish feed, fish feed additive, shrimp, shrimp feed, shrimp feed additive market size was valued at USD 44878.54 million in 2021 and is anticipated to witness a compound annual growth rate (CAGR) of 5.97% from 2022 to 2030. Increasing demand for aquatic feeds is driven by a number of factors including growing population and rising income. In addition, the market is facilitated by technological advancements, which have improved production and distribution channels. For example, the use of feed acidifiers is increasing due to its high growth rate. It has the potential to boost aquaculture production by improving protein digestibility and increasing resource efficiency. Growing consumption of fish meat and fish products, coupled with improving government regulations, will further favor the market growth.

Global Fish, Fish Feed, Fish Feed Additive, Shrimp, Shrimp Feed, Shrimp Feed Additive Market: Regional Insights

Regionally, North America is projected to dominate the global fish, fish feed, fish feed additive, shrimp, shrimp feed, shrimp feed additive market over the forecast period. The consumption of shrimps and fishes has been growing gradually in the US with shrimps being the most consumed sea food in the country. According to the Coherent Market Insights analysis, the United States Fish, Fish Feed, Fish Feed Additives, Shrimp, Shrimp Feed, Shrimp Feed Additives Market accounted for a market value of USD 2152.89 million in 2017, and is expected to reach USD 2899.89 million by 2023, at a CAGR of 5.19% during the forecast period.

Asia Pacific is also projected to witness significant growth over the forecast period owing to the increasing population especially in China and India which is creating high demand for food. Asia-Pacific fish, fish feed, fish additives and shrimp, shrimp feed, shrimp additives market had registered a market value of USD  18286.97 million in 2017 and expected to reach USD 26513.60 million by 2023, growing at a CAGR of 6.56% during the forecast period.

Figure 1. Global Fish, Fish Feed, Fish Feed Additive, Shrimp, Shrimp Feed, Shrimp Feed Additive Market Share (%) in terms of Values, By Region, 2021

Fish Feed Additive and Shrimp Feed Additive  | Coherent Market Insights

Global Fish, Fish Feed, Fish Feed Additive, Shrimp, Shrimp Feed, Shrimp Feed Additive Market Drivers:

Rapid growth in aquaculture industry is primarily fueling growth of the global fish, fish feed, fish feed additive, shrimp, shrimp feed, shrimp feed additive market. Increasing consumption of fish across the globe and growing popularity of processed seafood owing to an increase in the income of middle class population, in developing countries is again creating demand for seafood. This in turn, augmenting market growth.

Supportive government regulations is also acting as major driver factor for the global market. For instance, in September 2022, Indian government has announced an outlay of USD 1.6 billion to support fisheries, animal husbandry and aqua culture industry, which is expected to drive the industry in India increasing the demand for feed and feed additives.

Global Fish, Fish Feed, Fish Feed Additive, Shrimp, Shrimp Feed, Shrimp Feed Additive Market Opportunities:

Growing demand for feed additives and feed premix manufacturers with nutrients is creating lucrative growth opportunities for manufacturers in the global fish, fish feed, fish feed additive, shrimp, shrimp feed, shrimp feed additive market.

China has emerged as a lucrative market for business expansion. Moreover, shrimp farming in the country is gaining popularity due to the increased demand for feed supplements. Availability of insect protein as it is highly digestible compared to animal protein is again fueling market expansion.

Global Fish, Fish Feed, Fish Feed Additive, Shrimp, Shrimp Feed, Shrimp Feed Additive Market Trends:

Increasing awareness about aqua feed additives is expected to positively shape the market growth. As fish consumption continues to increase around the world, there is a growing demand for nutritional and mineral-rich additives. This trend is expected to continue in near future as well.

Bioavailability of fish feed, fish feed additive, shrimp feed, and shrimp feed additive is also acting as an important trend for market. Moreover, increasing awareness of the benefits of premixes and supplements is another factor stimulating market growth.

CMI table icon

Fish, Fish Feed, Fish Feed Additive, Shrimp, Shrimp Feed, Shrimp Feed Additive Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2021: US$ 44878.54 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2022 to 2030
Forecast Period 2022 to 2030 CAGR: 5.97% 2030 Value Projection: US$ 67450 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Animal Type: Fish, Shrimp
  • Fish Feed Additive by Additive Type: Binders, Vitamins, Amino Acids, Antioxidants, Enzymes, Antibiotics, Minerals, Acidifiers
  • Shrimp Feed Additive by Additive Type: Binders, Vitamins, Amino Acids, Antioxidants, Enzymes, Antibiotics, Minerals, Acidifiers
Companies covered:

Alltech Inc., Aller Aqua A/S, Biomar A/S, Biomin GMBH, Cargill Incorporated, Nutreco NV, Ridley Corporation, Archer Daniels Midland Co., BASF SE, and Nutriad International

Growth Drivers:
  • Rapid growth in aquaculture industry
  • Supportive government regulations
Restraints & Challenges:
  • Increasing use of antibiotic in aquaculture
  • Outbreak of disease across major markets

Global Fish, Fish Feed, Fish Feed Additive, Shrimp, Shrimp Feed, Shrimp Feed Additive Market Restraints:

Increasing use of antibiotic in aquaculture is due to growing prevalence of bacterial disease is projected to restrict the market growth. The governments of developed countries are taking measures to ban export and import of fish and shrimp from countries that use antibiotics in fish farms. For instance the EU has returned more than 30 containers of shrimp exported from India due to presence of antibiotics. Similarly the US FDA also rejected shrimp shipments from the country due to presence of dangerous levels of antibiotics.

Outbreak of disease across major markets is disrupting the production and supply of seafood.  For example, in China, Shrimp production decreased owing to outbreak of diseases as a typhoon in 2017 resulting in flooded Shrimp farms in the country thereby pushing it to import shrimps. This factor is projected to hamper the market growth to some extent

Figure 2. Global Fish, Fish Feed, Fish Feed Additive, Shrimp, Shrimp Feed, Shrimp Feed Additive Market Share (%) in terms of Values, By Animal Type, 2021

Fish Feed Additive and Shrimp Feed Additive  | Coherent Market Insights

Global Fish, Fish Feed, Fish Feed Additive, Shrimp, Shrimp Feed, Shrimp Feed Additive Market Segmentation:

The global fish, fish feed, fish feed additive, shrimp, shrimp feed, shrimp feed additive market report is segmented into animal type, fish feed additive by additive type, shrimp feed additive by additive type, and geography

Based on animal type, the market is segmented into Fish and Shrimp. Out of which, Shrimp is expected to dominate the global market over the forecast period as it is one of the major species of aquaculture. The shrimp feed market registered a market value of USD 3733.75 million in 2017, and is expected to reach USD 5099.75 million by 2023, at a CAGR of 5.26 % during the forecast period. In 2017, the major shrimp importing countries were United States, Japan and Europe. The United States registered a 10% increase from 2016 to nearly 610,000 metric tons in 2017, imports increased in Japan by 9% while Europe continued to remain flat by about 1% from their previous years.

Fish segment is also expected to witness significant growth in the near future owing to the growing demand for fish for processed fish meat. The fish feed market registered a market value of USD 32425.52 million in 2017, and is expected to reach USD 45897.75 million by 2023, at a CAGR of 6.05% during the forecast period.

Based on fish feed additive by additive type, the market is segmented into Binders, Vitamins, Amino Acids, Antioxidants, Enzymes, Antibiotics, Minerals, and Acidifiers. Out of which, Binders is expected to dominate the global market over the forecast period and this is attributed to the growing need to improve the efficiency of the process of feed production, to develop a water-stable diet, and to eliminate feed wastage. The binders market for fish feed additives is anticipated to grow at a CAGR of 7.51%, and it is expected to reach USD 201.11 million by 2023. As of 2017, the market accounted to USD 133.11 million

Vitamins segment is also expected to witness significant growth in the near future and this is owing to the growing government initiatives to promote the usage of vitamin in feed additives. For instance, The European Food Safety Authority (EFSA) has recently reported that vitamin E is both effective and safe as a feed additive. Its FEEDAP Panel has also made a number of recommendations on maximum levels of inclusion in feed, labelling, and restrictions on certain product forms. The vitamin market for fish feed additives is anticipated to grow at a CAGR of 7.71%, and it is expected to reach USD 89.66 million by 2023. As of 2017, the market accounted to USD 55.66 million.

Based on shrimp feed additive by additive type, the market is segmented into Binders, Vitamins, Amino Acids, Antioxidants, Enzymes, Antibiotics, Minerals, and Acidifiers. Out of which, Binders is expected to dominate the global market over the forecast period owing to the improving water stability in feed. Moreover, they are also used to enhance the physical form of shrimp food. The binders market for shrimp feed additives is anticipated to grow at a CAGR of 7.26%, and it is expected to reach USD 18.38 million by 2023. As of 2017, the market accounted to USD 11.74 million.

Vitamins segment is also expected to witness significant growth in the near future and this is owing to the growing trend of shrimp farming which is augmenting demand for vitamin additive for shrimp feed. The vitamins market for shrimp feed additives is anticipated to grow at a CAGR of 7.31%, and it is expected to reach USD 7.71 million by 2023. As of 2017, the market accounted to USD 4.91 million.

Global Fish, Fish Feed, Fish Feed Additive, Shrimp, Shrimp Feed, Shrimp Feed Additive Market: Key Developments

  1. In November 2017, Alltech establishes a base in Cambodia.
  2. In November 2017Alltech acquires Montana-based, WestFeeds.
  3. In November 2017Alltech launches first biogas solution, DIGEST P3.
  4. In November 2017Alltech joins the soil and fertilizer alliance of China, Dr. Mark Lyons named vice president.
  5. In November 2017Alltech acquires Solbiosur, a specialised Spanish agricultural and horticultural crop solutions company.
  6. In October 17, Aller Aqua Group inaugurates its sixth factory, Aller Aqua Qingdao.
  7. In September 2017, Aller Aqua launches Power 2 which is a new generation of feed and the composition of the feeds is adjusted to neutralize the natural variation of the raw materials

Global Fish, Fish Feed, Fish Feed Additive, Shrimp, Shrimp Feed, Shrimp Feed Additive Market: Key Companies Insights

The global fish, fish feed, fish feed additive, shrimp, shrimp feed, shrimp feed additive market is highly competitive. This is attributed to continuous launch of new technologies due to ongoing R &D and efforts by value chain participants. Moreover, key players are adopting various business growth strategies in order to expand their presence on regional as well as global basis. Some of the key players in the global fish, fish feed, fish feed additive, shrimp, shrimp feed, shrimp feed additive market are Alltech Inc., Aller Aqua A/S, Biomar A/S, Biomin GMBH, Cargill Incorporated, Nutreco NV, Ridley Corporation, Archer Daniels Midland Co., BASF SE, and Nutriad International

*Definition: Feed additives are used to increase the growth rate of fish and shrimp. These additives are essential in aquaculture production. They enhance feed efficiency and can increase profits. These additives can be nutritive or nonnutritive, and they affect different systems.

A fish feed additive is a product designed to boost fish and shrimp growth. They can be nutritive or non-nutritive, and influence different systems within the animal. In addition to aiding in the overall growth of the animal, feed additives may also reduce the cost of production by increasing feed efficiency. Natural feed additives have been proven to improve shrimp survival. Some additives are effective against Vibrio species, while others are better at protecting the shrimp's gut flora.

Market Dynamics:

Rapid growth in aquaculture industry due to increasing consumption of fish is primarily fueling growth of the global fish, fish feed, fish feed additive, shrimp, shrimp feed, shrimp feed additive market. Moreover, supportive government regulations for fisheries and aquaculture industry is again propelling market growth. For instance, in September 2022, Indian government has announced an outlay of USD 1.6 billion to support fisheries, animal husbandry and aqua culture industry, which is expected to drive the industry in India increasing the demand for feed and feed additives.

On the other hand, outbreak of disease across major markets coupled with the increasing use of antibiotics are projected to hamper market growth.

Key features of the study:

  • This report provides in-depth analysis of the global fish, fish feed, fish feed additive, shrimp, shrimp feed, shrimp feed additive market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global fish, fish feed, fish feed additive, shrimp, shrimp feed, shrimp feed market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include Alltech Inc., Aller Aqua A/S, Biomar A/S, Biomin GMBH, Cargill Incorporated, Nutreco NV, Ridley Corporation, Archer Daniels Midland Co., BASF SE, and Nutriad International
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global fish, fish feed, fish feed additive, shrimp, shrimp feed, shrimp feed market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global fish, fish feed, fish feed additive, shrimp, shrimp feed, shrimp feed market

Detailed Segmentation:

  • Global Fish, Fish Feed, Fish Feed Additive, Shrimp, Shrimp Feed, Shrimp Feed Additive Market, By Animal Type:
    • Fish
    • Shrimp
  • Global Fish, Fish Feed, Fish Feed Additive, Shrimp, Shrimp Feed, Shrimp Feed Additive Market, By Additive Type:
    • Binders
    • Vitamins
    • Amino Acids
    • Antioxidants
    • Enzymes
    • Antibiotics
    • Minerals
    • Acidifiers
  • Global Fish, Fish Feed, Fish Feed Additive, Shrimp, Shrimp Feed, Shrimp Feed Additive Market, By Additive Type:
    • Binders
    • Vitamins
    • Amino Acids
    • Antioxidants
    • Enzymes
    • Antibiotics
    • Minerals
    • Acidifiers
  • Global Fish, Fish Feed, Fish Feed Additive, Shrimp, Shrimp Feed, Shrimp Feed Additive Market, By Geography (Fish and Shrimp):
    • North America
    • Asia Pacific
    • South America
    • Middle East and Africa
    • Europe
  • Company Profiles:
    • Alltech Inc.
    • Aller Aqua A/S
    • Biomar A/S
    • Biomin GMBH
    • Cargill Incorporated
    • Nutreco NV
    • Ridley Corporation
    • Archer Daniels Midland Co.
    • BASF SE
    • Nutriad International

Frequently Asked Questions

The global fish, fish feed, fish feed additive, shrimp, shrimp feed, shrimp feed additive market size is estimated to be valued at US$ 44878.54 Million in 2021 and is expected to exhibit a CAGR of 5.97% between 2022 and 2030.
Rapid growth in aquaculture industry and supportive government regulations are fuelling growth of the market.
The Fish animal type segment is the leading component segment in the market.
Increasing use of antibiotic in aquaculture and outbreak of disease across major markets are the major factors restraining growth of the market.
Alltech Inc., Aller Aqua A/S, Biomar A/S, Biomin GMBH, Cargill Incorporated, Nutreco NV, Ridley Corporation, Archer Daniels Midland Co., BASF SE, and Nutriad International

Related Reports

EXISTING CLIENTELE

Joining thousands of companies around the world committed to making the Excellent Business Solutions.

View All Our Clients
trusted clients logo