Aquafeed Additives Market Size

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.