Global Aquafeed Additives Market foreseen to reach USD 156 billion by 2022
The global aquafeed additives market is relied upon to reach $ 156 billion of every 2022, recording a CAGR of 13.3% over the estimated time of 2019 to 2024. Aquatic feeds are compound nourishments arranged for sea-going creatures by blending different crude materials and added substances. These blends are set up as per the particular necessities of the species and the age of the creature. Hydroponics takes care of have gotten basic to the hydroponics business because of its dietary, safe and development advancing properties.
ADM Animal Nutrition focuses on the development of feed ingredients and nutritional products for aquaculture, as well as the general animal nutrition industry and collaboration with customers at the new Decatur site in Illinois.
Market Drivers and Restraints:
The surge in the consumption of seafood and the rising consumer awareness of the quality of seafood are majorly driving the expansion of the global aquafeed additives market. Also, increased per capita income, especially in developing countries, is expected to sustain the growth of aquaculture and the aquaculture feed industry. In the long term, rising raw material costs can limit market growth, as most high-quality foods are made from fishmeal and fish oil.
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Report is segmented as:
- Others (miscellaneous freshwater and diadromous fish species)
- Starter feed
- Grower feed
- Finisher feed
- Brooder feed
- Fish oil
- Others (DDGS, wheat, barley, poultry by-product meal, and blood meal)
- Vitamins & minerals
- Amino acids
- Probiotics & prebiotics
- Others (acidifiers, mycotoxin binders, phosphates, and carotenoids)
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