Fish fish feed fish feed additive shrimp shrimp feed shrimp feed additive market

Fishfeed Additive Shrimp Feed Additives Market, By Animal Type (Fish, Shrimp), By Additive Type (Binders, Vitamins, Amino Acids, Antioxidants, Enzymes, Antibiotics, Minerals, Acidifiers), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

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Sep 2023
CMI5279
175 Pages
Excel & Pdf
Food and Beverages

Summary

The global fish feed additive and shrimp feed additive market is projected to reach around US$ 79.64 Billions by the end of 2030, in terms of revenue, growing at CAGR of 7.6% during the forecast period (2023-2030).

Global Fish feed additive and shrimp feed additive Market: Growth Drivers

Strong growth in aquaculture industry

Rapid growth in the aquaculture industry is primarily fueling growth of the Global Fish feed additive and shrimp feed additive market. Increasing consumption of fish across the globe and the growing popularity of processed seafood owing to an increase in the income of middle-class populations in developing countries are again creating demand for seafood.

Supportive government regulation

Supportive government regulations are also acting as a major driver factor for the global market. For instance, in September 2022, the Indian government announced an outlay of US$ 1.6 billion to support the fisheries, animal husbandry, and aquaculture industries, which is expected to drive the industry in India by increasing the demand for feed and feed additives.

Global Fish feed additive and shrimp feed additive Market: Restraints

The increasing use of antibiotics in aquaculture due to the growing prevalence of bacterial disease is projected to restrict market growth. The governments of developed countries are taking measures to ban the 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 the presence of antibiotics. Similarly, the US FDA also rejected shrimp shipments from the country due to the presence of dangerous levels of antibiotics.
An outbreak of disease across major markets is disrupting the production and supply of seafood. For example, in China, shrimp production decreased owing to an outbreak of diseases caused by as a typhoon in 2017, which flooded shrimp farms in the country, thereby pushing it to import shrimp. This factor is projected to hamper market growth to some extent.

Market Opportunity:

Growing demand for feed additives and feed premix manufacturers with nutrients is creating lucrative growth opportunities for manufacturers in Global Fish feed additive and 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. The availability of insect protein, which is highly digestible compared to animal protein, is again fueling market expansion.

Market Trends

Increasing awareness about aqua feed additives is expected to positively shape 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 the near future as well.
Bioavailability of Fish feed additive and shrimp feed additive is also an important trend for the market. Moreover, increasing awareness of the benefits of premixes and supplements is another factor stimulating market growth.

Covid-19 Impact

The demand for feed and feed additives for aquaculture species, including fish and shrimp, is expected to grow as commercial aquaculture production rises. A study conducted in Iran evaluated the impact of the COVID-19 outbreak on the shrimp farming industry. The results showed a reduction in the price of shrimp due to the pandemic. The pandemic has also raised concerns about seafood safety and human health. However, the high nutritional content of fish, including fish oil, vitamins, and minerals, may have potential benefits in COVID-19 therapy and strengthening immunity. The global impacts of COVID-19 are already being felt in the fish feed additive and shrimp feed additive market, and it is expected to significantly affect the industry. The COVID-19 crisis in the aquaculture industry may also lead to improvements in shrimp farming practices.

Fishfeed Additive Shrimp Feed Additives Market Report Coverage

Report Coverage	Details
Base Year:	2022	Market Size in 2023:	US$ 47.78 Bn
Historical Data for:	2018 to 2021	Forecast Period:	2023 to 2030
Forecast Period 2023 to 2030 CAGR:	7.6%	2030 Value Projection:	US$ 79.64 Bn
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 and Rest of Middle East Africa: North Africa, Central Africa, South Africa, and Rest of Africa
Segments covered:	By Animal Type: Fish, Shrimp 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 feed additive and shrimp feed additive Market: Recent Developments

In July 2021, Ciphands Total Germ Protection Hand Wash, Ciphands Plus Mist Spray Hand Sanitizer, and Ciphands Smart Germ Protection Soap are just a few of the products offered under the Ciphands hand and surface hygiene brand by Cipla Health Ltd.
In June 2023, Alltech an American company, headquartered in Nicholasville, Kentucky, with operations in animal feed, meat, brewing, and distilling. Alltech develops agricultural products for use in both livestock and crop farming, as well as products for the food industry. They have introduced Triad, an innovative solution that promotes successful farrowing and pig livability through a palatable, proprietary blend of Alltech ingredients. Peer-reviewed research has suggested that supplementation of these compounds in combination can support the parturition process, reduce the incidence of stillborn pigs, and boost the number of wean pigs per sow.
In June 2023, Alltech an American company, headquartered in Nicholasville, Kentucky, with operations in animal feed, meat, brewing, and distilling, has released the 2022 Alltech Sustainability Report, which demonstrates the actions the company is taking to align the business with its commitments to the United Nations Global Compact, the U.N. Ten Principles, the U.N.’s Sustainable Development Goals and Working Together for a Planet of Plenty™.
In March 2021, The AVA Group's flagship brand, Medimix, announced the release of a new line of fish feed additive and shrimp feed additive gel that is 100% natural and contains natural ingredients like aloe vera and tulsi in addition to having antibacterial properties.

Figure 1: Global Fish feed additive and shrimp feed additive Market Share (%) By Region, in 2023

Asia Pacific region held a dominant position in the global fish feed additive and shrimp feed additive market in 2023, accounting for 51% share in terms of volume, followed by Europe and North America, respectively.

Figure 2: Global Fish feed additive and shrimp feed additive Market: By Animal type

On the basis of Animal Type in 2023, the fish segment has accounted for the largest market share of 89% in terms of value.

Global Fish feed additive and shrimp feed additive Market: Key Companies

Key Companies 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 to aquaculture production. They enhance feed efficiency and can increase profits. These additives can be nutritive or nonnutritive, and they affect different systems.

Table of Content

Table of Contents

Browse 60 market data tables and 40 figures on “Global Fish feed additive and shrimp feed additive Market- Global forecast to 2030”.

Segmentation

Fish Feed and Shrimp Feed and Additives Market Detailed Segmentation:

By Animal Type:
- Fish
- Shrimp
By Fish Feed Additive Type:
- Binders
- Vitamins
- Amino Acids
- Antioxidants
- Enzymes
- Antibiotics
- Minerals
- Acidifiers
By Shrimp Feed Additive Type:
- Binders
- Vitamins
- Amino Acids
- Antioxidants
- Enzymes
- Antibiotics
- Minerals
- Acidifiers
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America

- Frequently Asked Questions -

What will the Fish feed additive and shrimp feed additive market size be in 2030 and at what rate will it grow?

The market for fish feed additive and shrimp feed additive estimated to surpass US$ 79.64 Billions by 2030, exhibiting a CAGR of 7.6% between 2023 and 2030.

What are the major growth driving factors for the market during the forecast period?

The emergence of COVID-19 (global pandemic) and rising awareness among people about the significance of hand hygiene is fueling the growth of the market.

What is the compound annual growth rate (CAGR) of the market during the forecast period (2023-2030)?

The market is expected to exhibit a CAGR of 7.6% during the forecast period (2023-2030).

Who are the prominent players in the market?

Key Companies 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

What are the key factors hampering the growth of the market?

The availability of unlabeled and unlicensed bottles and reduced consumer preference for hand sanitizers are major factors restraining growth of the market.