Aquaculture Additive Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026
- Transparency Market Research
Aquaculture is known as farming of mollusk, aquatic plants, fish, algae, crustaceans, and other aquatic organisms. It involves cultivation of seawater and freshwater aquatic organisms under conditions that are controlled to generate high production output. Aquaculture additives are chemical compounds used to increase immunity, protect aquatic animals from infection, boost growth, and provide basic nutrients to aquatic organisms. Aquaculture has gained prominence in the global animal agriculture industry due to the expansion in the global economy and rise in disposable income in developing economies such as China and India. This, in turn, is driving the aquaculture additive market across the globe.
Increase in demand for aquaculture additives in developing countries and extensive use of these additives to enhance the overall aquaculture production are factors augmenting the aquaculture additive market. This is encouraging companies to increase production of these additives. Additionally, easy availability of raw materials is anticipated to boost the demand for aquaculture additives in the near future.
The global aquaculture additive market is witnessing technological advancements. Companies are constantly striving to develop new and better ways to manufacture these additives. Development of new manufacturing processes of aquaculture additive and applications is estimated to propel the market. However, volatility in prices of raw materials is projected to hamper the market.
In terms of product, the aquaculture additive market can be divided into amino acids, antibiotics, vitamins, feed acidifiers, and others. The amino acids segment is anticipated to expand at a considerable pace due to the increase in demand for these additives in nutrition applications.
Based on application, the aquaculture additive market can be segmented into preservation, processing, and nutrition. The preservation segment is dominating the market owing to the extensive use in emerging economies such as India and China.
Based on geography, the aquaculture additive market can be segregated into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Asia Pacific is anticipated to constitute key share of the market during the forecast period. The aquaculture additive market in Asia Pacific is also likely to expand a considerable pace owing to the increase in demand for these additives in the chemical & petrochemical applications in the region. Middle East & Africa is estimated to be an attractive region of the aquaculture additive market during the forecast period due to the rise in demand for these additives in the medical applications in the region.
Prominent players operating in the global aquaculture additive market include Alltech Inc., Cargill, Inc., Bentoli, Inc., Norel S.A., TECHNA SA, Evonik Industries, Royal DSM, BIOMIN Holding GmbH, and Bluestar Adisseo Co., Ltd.
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- Market segments and sub-segments
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The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
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- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
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