Aquaculture Chemicals Market: Introduction
- Farming of aquatic plants, mollusks, fish, crustaceans, algae, and other aquatic organisms is termed as aquaculture. The process includes growing aquatic organisms under controlled conditions in fresh water and sea water in order to attain high production. Aquaculture is aimed to develop aquaculture products, largely for the food & beverages industry. Aquaculture chemical compounds help boost the immunity of organisms. They protect aquatic animals from different types of infections and provide them with basic nutrients. They contain nutrient and energy sources, which are essential for growth of fish. Aquaculture chemicals act as food supplements for aquatic animals and, in turn, boost their health and growth.
- In addition, aquaculture contributes to creation of healthier marine habitats and regeneration and restoring of rare fish species. Effective aquaculture practices are safeguarded by gaining control over the quality of water and retaining it in order to improve overall biological productivity.
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Key Drivers of Global Aquaculture Chemicals Market
- Increasing awareness regarding various health benefits offered by additives used to promote fish growth is a major factor estimated to drive the global aquaculture chemicals market during the forecast period. Additionally, rise in the disposable income and increase in the spending capacity of individual’s fuel the demand for aquaculture chemicals.
- Increase in the adoption of aquaculture chemicals, owing to rise in government regulations regarding usage of the insect protein in products and growth in awareness among key manufacturers regarding various advantages offered by aquaculture chemicals, is a key factor boosting the global aquaculture chemicals market. In addition, rise in investments by government agencies in the global aquaculture industry, especially for production of advanced aquaculture chemicals, is boosting the demand for these chemicals. This is another factor expected to drive the global aquaculture chemicals market in the near future. In addition, increase in the demand for high-quality fish-based products in developing as well as developed economies is another factor anticipated to boost the global aquaculture chemicals market during the forecast period.
- However, stringent environment-related regulations regarding fish catching are expected to restrain the global market during the forecast period
Rise in Demand for Aquaculture Chemicals for Aquatic Animals
- Based on product, the global aquaculture chemicals market can be divided into amino acids, antibiotics, vitamins, feed acidifiers, and others (including anesthetic & sedation materials and anti-parasitic products). The amino acids segment is anticipated to account for a major share of the global market, in terms of revenue, during the forecast period. Amino acids are widely utilized, owing to their high nutritional value.
- In terms of culture, the global aquaculture chemicals market can be classified into freshwater, brackish water, and marine. In terms of revenue, the brackish water segment is expected to hold a major share of the global market during the forecast period.
- Based on species, the global aquaculture chemicals market can be divided into aquatic plants, seaweeds, microalgae, aquatic animals, finfish, and others (including crustaceans and mollusks). In terms of revenue, the aquatic animals segment is anticipated to account for a major share of the market in Asia Pacific during the forecast period, owing to rising demand for protein-rich food in developing countries in the region such as Bangladesh, Indonesia, India, and Vietnam.
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Europe: A Key Market for Aquaculture Chemicals
- In terms of region, the global aquaculture chemicals market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- In terms of revenue, Asia Pacific is expected to account for a significant share of the global aquaculture chemicals market during the forecast period. This can be attributed to increase in the number of government initiatives for the adoption of aquaculture chemicals along with favorable climatic conditions in the region. The market in Asia Pacific is expected to witness rapid growth during the forecast period. This can be ascribed to rising demand for aquaculture chemicals in the region.
Key Manufacturers Operating in Global Aquaculture Chemicals Market
- Key players are consistently focusing on the development of enhanced-quality aquaculture chemicals with the objective to expand their product offerings as well as gain a competitive edge in the global aquaculture chemicals market
Key manufacturers operating in the global market are:
- Ridley Corporation Limited
- Aller Aqua Group
- Archer Daniels Midland Company
- BASF SE
- Biomin Holding GmbH
- Skretting A.S.
- Evonik Industries AG
Global Aquaculture Chemicals Market: Research Scope
Global Aquaculture Chemicals Market, by Product
- Amino Acids
- Feed Acidifiers
- Others (Including Anesthetic & Sedation Materials and Anti-parasitic Products)
Global Aquaculture Chemicals Market, by Culture
- Brackish Water
Global Aquaculture Chemicals Market, by Species
- Aquatic Plants
- Aquatic Animals
- Others (Including Crustaceans and Mollusks)
Global Aquaculture Chemicals Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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