Global aquafeed market size is expected to reach 96.3
million tons by 2022, growing at a CAGR of 11.1% from 2015 to 2022. Global
aquafeed additives market size is likely to be worth USD 1.2 billion by 2022.
Increase in fish demand for direct human consumption
(DHC) as well as non-DHC applications is anticipated to drive aquaculture
market growth. Rising awareness among breeders regarding the benefits of feed
for aquaculture is anticipated to drive aquafeed market over the forecast
period.
Direct human consumption of fish was 136.00 million tons
in 2012 and is anticipated to reach 205.81 million tons by 2022, growing at a
CAGR of 4.3% between 2015 and 2022. At present, over 75% of the global fish
harvested is used for DHC as food. Increasing per-capita middle class
disposable income coupled with rising nutritional standards is expected to
propel direct human consumption of fish over the forecast period. This factor
is anticipated to drive aquaculture market growth.
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Rising prevalence of obesity, cardiovascular diseases and
other illnesses including diabetes is anticipated to augment demand for omega-3
supplements over the forecast period. Omega-3 fatty acids are obtained from a
variety of fish including tuna, salmon, whale blubber, cod liver and seal
blubber
Global consumer spending on EPA/DHA omega-3 products was
over USD 25 billion in 2011. Infant formula was the largest segment for which
consumers across the globe spent over USD 10 billion, followed by fortified
food & beverages which accounted for approximately USD 8 billion. Rising
consumer demand regarding the benefits of EPA/DHA in regular diet is
anticipated to subsequently have a positive impact on aquafeed market over the
forecast period.
Application Overview
Carp dominated the application segment for aquafeed
market with a revenue generation exceeding USD 19 billion in 2014. It is
anticipated to be the fastest growing application segment over the forecast.
Increasing importance of omega-3 fatty acids in food & beverage industry
owing to importance of reducing cholesterol levels is expected to increase the
farming activities meant for carps.
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Mollusks accounted for more than 20% of the total volume
in 2014 and are expected to grow at significant growth rates of over 11% from
2015 to 2022. Mollusk, which includes oysters and clams, contains important
nutrients & offer health benefits to humans. They are also used as filter
feeders for water quality applications by filtering contaminants, sediments and
nutrients. Increasing application scope of mollusks in agriculture and DHC is
expected to drive aquaculture farming and thus result in promoting aquafeed
industry growth.
Product Overview
Amino acids emerged as the dominant product segment for
aquafeed additives market with revenue exceeding USD 200 million in 2014.
Increasing importance of amino acids to improve efficiency of protein
utilization in animal feeding is expected to be a favorable factor for industry
growth. Lysine, methionine, threonine, and tryptophan are some product forms of
amino acids used as additive in aquaculture. Stringent regulations of European
Commission, aimed at promoting the use of plant-based growth regulators in
animal feed industry are expected to fuel amino acids demand in the near
future.
Antibiotics product segment accounted for more than 20%
of aquafeed additives market in 2014 and is expected to below average growth
rates with an estimated CAGR of over 3% from 2015 to 2022.
Antibiotics overdose result in creation of antibiotic
resistant bacteria, which induce change in DNA sequence of bacteria and allow
its survival from any further treatment. U.S. FDA imposed ban on numerous
antibiotics including malachite green, chloramphenicol, gentian violet and
nitrofuran on account of inducing water contamination. As a result, antibiotics demand as an
aquafeed additive is expected to be hampered over the next seven years.
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Regional Overview
Asia Pacific was the largest region for aquaculture and
aquafeed, with valuation exceeding USD 40 billion for aquafeed industry in
2014. Predominant aquaculture production in the region, particularly in China
coupled with growing inclination towards salmon farming owing to factors such
as hardiness of the species, ease of farming, better water quality within
closed farm systems, and government interest is expected to fuel aquafeed
demand in the near future. Asia Pacific is also expected to be the fastest
growing region.
Europe was the second largest region in terms of demand
and accounted for more than 13% of the total volume in 2014. Growing popularity
of mussels as source of low-cost protein in Europe along with its production
base in Western Europe is expected to drive aquafeed industry growth.
Competitive Market Share
The global aquafeed additives market share is fragmented
with large companies present across the value chain. Key companies include
Biomar, Altech, Inc.Ridley, Dibaq Aquaculture, Aller Aqua, Biomin and Addcon
Group GmbH.
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