The global aquafeed market size is anticipated to reach USD
133.1 billion by 2022, according to a new study by Grand View Research, Inc.
Growing usage of aquafeed in crustacean and carp farming is likely to fuel
demand over the course of the forecast period. Static natural production of
fishes is expected to boost an already thriving market for aquaculture.
Moreover, rising focus on nutraceuticals, such as omega 3-enriched products, is
slated to generate immense opportunities for aquafeed applications.
Prominent aquaculture additives include amino acids and antibiotics. They cannot be synthesized by fish but are vital for regular body mechanism. Amino acids held the dominant share in terms of product, amounting to an estimated revenue of USD 236.0 million in 2013. Feed acidifiers are poised to exhibit the highest growth rate during the forecast period, recording a CAGR of 6.1% from 2014 to 2022.
Prominent aquaculture additives include amino acids and antibiotics. They cannot be synthesized by fish but are vital for regular body mechanism. Amino acids held the dominant share in terms of product, amounting to an estimated revenue of USD 236.0 million in 2013. Feed acidifiers are poised to exhibit the highest growth rate during the forecast period, recording a CAGR of 6.1% from 2014 to 2022.
Browse full research report on Aquafeed Market: https://www.grandviewresearch.com/industry-analysis/aquafeed-and-aquaculture-additive-market
Further key findings from the study suggest:
- The
global aquafeed demand was 37.60 million tons in 2013 and is expected to
reach 77.93 million tons by 2022, growing at a CAGR of 11% from 2014 to
2022.
- Carps
were the largest consumers of aquafeed, at 9.70 million tons of global
market in 2013. The segment is also expected to witness fastest growth at
an estimated CAGR of 11.2% from 2014 to 2022. Carps are rich in omega-3
fatty acids and offer high sources of protein that are low in fat. The
growing consumer awareness regarding omega 3 health benefits is expected
to drive demand for carps in turn augmenting demand for aquafeed.
- Mollusks
and Crustaceans were the other large application segments for the aquafeed
market together accounting for 33% of the global market in 2013.
Crustaceans such as lobsters, shrimps and crabs and mollusks such as
oysters are increasing being used as exotic food products and improving
economic conditions in parts of Asia Pacific is expected to further the
demand for aquafeed over the forecast period.
- Asia
Pacific was the most dominant regional market accounting for 65% of global
consumption in 2013. The presence of vast aquaculture industry
particularly in China is expected to enhance the demand for aquafeed in
the region over the next six years.
Browse
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/aquafeed-and-aquaculture-additive-market/request/rs1
Grand View Research has segmented the global aquafeed market on
the basis of end use and region. Furthermore, aquafeed additive market has been
split on the basis of product segments:
Aquafeed Additives Product Outlook (Revenue, USD Million, 2012 -
2022)
- Amino
Acids
- Antibiotics
- Vitamins
- Feed
Acidifiers
- Others
Aquafeed Application Outlook (Volume, Tons; Revenue, USD Million,
2012 - 2022)
- Carps
- Mollusks
- Crustaceans
- Salmons
- Tilapia
- Catfish
- Others
Aquafeed Regional Outlook (Volume, Tons; Revenue, USD Million,
2012 - 2022)
- North
America
- Europe
- Asia
Pacific
- RoW
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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