Aquafeed Additives Market size was over USD 2.3 Billion in 2023 and is expected to reach USD 15.2 Billion by the end of 2036, growing at around 4.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of aquafeed additives is evaluated at USD 4.3 Billion. The global sales of complex feed and feed supplements are driven by the rise of aquaculture and nutritional awareness among fish farmers.
The seafood industry has observed a boom with the growing consumption of crabs, salmon, tilapia, and catfish mainly due to their high protein content. For instance, the Global Seafood Alliance in March 2024 estimated that India’s fish consumption will reach 26.5 metric tons by 2048. Furthermore, the rising urban population and increased fish trade in Asian countries, particularly in eastern and southeastern Asia, have influenced fish consumption, expanding the global market. As per the Food and Agriculture Organization, world trade in fish and fisheries products is estimated to reach 65.0 million tons in 2023. Thus, the growing seafood consumption is fueling the demand for aquafeed additives.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
4.5% |
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Base Year Market Size (2023) |
USD 2.3 billion |
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Forecast Year Market Size (2036) |
USD 15.2 billion |
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Regional Scope |
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Ingredient (Anti-parasitic, Feed Acidifiers, Prebiotics, Essential Oils & Natural Extracts, Palatants, Hydrolysates, Yeast Extracts)
Feed acidifier segment in the aquafeed additives market is estimated to exhibit CAGR of around 3.5% till 2036. Feed acidifiers are created using organic acids and their salts. They play a vital role in controlling gastric acid levels in aquatic animals leading to improved food digestion, and absorption.
The use of feed acidifiers as additives is predicted to experience significant expansion because they can help prevent diseases caused by E. coli and Salmonella. They are being seen as a substitute for antibiotics in protecting against diseases.
Application (Carp, Rainbow Trout, Salmon, Crustaceans, Tilapia, Catfish, Sea Bass, Grouper)
In terms of application, the catfish segment in aquafeed additives market is set to witness the largest size by the end of 2036. Catfish, as a sustainable fish species, are raised in freshwater ponds using corn, rice, and soybeans as aquafeed. Catfish are the preferred group of farmed aquaculture species because of their ability to be farmed in less-than-ideal climatic conditions.
The increasing consumer demand for catfish, induced by its high vitamin D and omega-6 fatty acid content, is set to boost the demand for aquafeed additives in the upcoming years.
Source (Plants, Animals, Microorganisms)
Plants segment is predicted to dominate aquafeed additives market share of around 40.0% by the end of 2036. Additives derived from corn, soybean, sunflower seed, peas, cottonseed, and other natural sources are in high demand due to their nutrient content, and rich protein. This makes them increasingly popular in the aquafeed additives industry as they offer a viable alternative to animal-based supplements, and are easily digestible.
Our in-depth analysis of the global market includes the following segments:
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Ingredient |
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Application |
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Source |
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North American Market Statistics
North America aquafeed additives market is predicted to dominate revenue share of over 33.1% by 2036. The industry's expansion is largely driven by the growing consumption of salmonids, hard clams, oysters, and mussels. Additionally, the increasing desire for aquaculture-sourced seafood can be linked to the reduction in wild fishery production and the higher daily intake of seafood in the area. The region's climatic conditions favor the development of various aquaculture species, including crustaceans and catfish. In terms of value, bivalve mollusks like oysters, clams, and mussels make up over 80% of marine aquaculture production in the U.S.
U.S. - The extensive farming of these species in the country is predicted to support the expansion of the aquaculture sector.
Canada - The growing demand for seafood resulting from population growth is expected to boost the progress of the aquaculture industry, consequently driving the growth of the market.
APAC Market Analysis
Aquafeed additives market size for Asia Pacific region is likely to cross USD 6.1 Billion by the end of 2036. The significant expansion of the aquaculture sector is driven by factors such as the availability of inexpensive labor, the facilitation of controlled conditions for aquaculture, and the presence of natural resources in the area.
China led aquaculture production in the Asia Pacific region in 2021, reaching almost 73 million metric tons. Moreover, the favorable weather conditions in these nations contribute to overall aquaculture production, consequently boosting the aquafeed industry and, by extension, the aquafeed additives.
India - Individuals opt for fish and various other seafood options to fulfill their dietary protein requirements. This heightened consciousness has led to an escalated interest in aquafeed products in India.
China - The robust aquaculture production in the area, particularly in China, as well as factors indicating the simplicity of fish farming, resilience of species, and improved water quality in enclosed farming systems, are anticipated to stimulate the demand for aquafeed additives in the forthcoming years.
Japan - Among global per capita fish consumers, Japan ranks as one of the top nations. Due to the high demand for marine products, especially fish and shellfish, sustainable and efficient aquaculture operations require the use of aquafeed additives.
The aquafeed additives sector experiences intense competition, as numerous companies provide diverse products for various aquatic animals. These companies have extensive global reach and supply a broad selection of aquafeed additives, including amino acids, vitamins, minerals, and enzymes. To maintain competitiveness in the industry, companies need to offer top-notch products supported by research and compliant with industry regulations.
Author Credits: Parul Atri
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