The global aquaculture additives market is expected to expand at a healthy rate from 2021 to 2031 (forecast period). An increase in awareness about the benefits of fish, a decline in cardiovascular disorders, and an improvement in cognitive development in children are major aspects projected to drive the global aquaculture additives market during the forecast period. Moreover, increasing improvements in amino acid nutrition technology and increased demand for fish protein as a supplement are expected to boost the global aquaculture additives market over the forecast period.
Key players in the global aquaculture additives market are TECHNA S.A., Bentoli, Inc., Alltech Inc., Cargill Inc., Norel S.A., Biomar, Aller Aqua, BIOMIN Holding GmbH, Novus International, Inc., NEOVIA.
To broaden and strengthen their overseas presence, key market players are actively pursuing inorganic market strategies such as collaborations, technological innovations, investments, acquisitions, and R&D activities.
Fish consumption patterns have shifted dramatically in recent years as a result of a variety of reasons, including shifting eating habits and increased availability of a wide range of fish in the retail market. Rising consumer knowledge of the health advantages of fish is expected to boost the global aquaculture additives market. Omega 3 fatty acids are obtained from a range of fish, including whale blubber, tuna, salmon, cod liver, and seal blubber. Increasing consumer health awareness is expected to boost demand for supplements that aid in lowering body fat while enhancing overall health.
Cardiovascular disease, obesity, and other disorders, such as diabetes, are expected to increase the usage of omega-3-based supplements in the coming years. Furthermore, LC-omega 3, produced from both farmed or wild fish or encapsulated fish oil, aids in the maintenance of cardiovascular health as well as asthma, dermatitis, psoriasis, and Crohn's disease. It also aids in the development of brain cells and is essential during the last trimester of pregnancy and infant nourishment. The demand for protein is increasing as a result of expanding consumer awareness about the need to eat nutritious foods. Such factors are expected to propel the global aquaculture additives market during the forecast period.
Moreover, advances in amino acid nutrition technology and their application in the manufacture of environmentally friendly and functional aquafeed are expected to bolster market expansion in the coming years. Furthermore, regulations aimed at lowering nitrogen levels in feeds are expected to increase the significance of low-protein amino acids. Increased demand for aquaculture additives in emerging economies and the widespread use of these additives to boost total aquaculture production are some of the factors likely to drive the global aquaculture additives market. This is expected to encourage manufacturers to boost their production of these additives.
The Asia Pacific aquaculture additives market is anticipated to grow over the forecast period. The increase in aquaculture activities in the region as a result of plentiful land availability combined with excellent meteorological conditions has resulted in an increase in demand for aquafeed. China, Indonesia, Vietnam, India, Bangladesh, and Thailand account for a significant portion of worldwide aquafeed production, resulting in a growth in aquaculture additives in the region. Moreover, a growing number of government activities to raise knowledge about the benefits of additives are expected to boost product use throughout the projection period.
The aquaculture additives market in European is projected to expand due to the growth of the marine aquaculture sector in European Union (EU) and European Free Trade Association (EFTA) countries. Moreover, significant improvements in feed and environmental management efficiency are anticipated to fuel the regional aquaculture sector, propelling the aquaculture additives market.
North America is expected to witness considerable growth in the aquaculture additives market as a result of the strong backing for aquaculture expansion from the governments of both the United States and Canada. Mollusks and salmonids, particularly hard clams, mussels, and oysters, have made significant contributions to the industry's expansion.