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Aquatic feeds are important substances that provide a full diet for diverse sea organisms including fish. These are complex meals that consist of different ingredients including plant protein, minerals, vitamins and grains of cereals. Aquafeed is prepared in the form of pods and improves the immunity, nutritional and efficiency of aquatic animals and provides nutritional benefits that are likely to increase the demand. These products contribute to stronger fish growth & boost the immune system against microbial infections.
Growing interest from consumers for healthy and high-quality seafood products helps the industry expand. A significant increase in the quality of feed and nutrient use coupled with better environmental management has helped to raise the demand for aquatic feed additives. Aquaculture, however, has a significant effect on farm environments, as marine fish digest feed and start releasing ammonia and excrement into the water, and there is an expanding need to value fish feed. Therefore, concerns about environmental protection are limiting the market growth.
Key Market Driver -
Growing industry demand for seafood drives the market.
Key Market Restraint -
Environmental sustainability concerns restrict the market growth.
Based on product type, the market for aquatic feed Supplement is further segmented into anti-parasitic, feed acidifiers, prebiotics, essential oils & natural extracts, palatants and others. Based on application, the market for aquatic feed supplement is further segmented into carp, rainbow trout, salmon, crustaceans, tilapia, catfish, sea bass and grouper. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global aquatic feed supplement market is fairly fragmented, with a number of global & regional players operating. Some of the key players in the aquatic feed supplement market include Olmix Group, Nutriad, Lallemand, Inc., Biorigin, Kemin Industries, Nouryon, Inc; Delacon, Calanus AS, DuPont de Nemours Inc, Camlin Fine Sciences Ltd., Diana Group, Phileo by Lesaffre, Alltech, Norel S.A., and Aker Biomarine.
In terms of Geography, the aquatic feed supplement market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia-Pacific region dominates the aquatic feed supply market in terms of both consumption and production. Rapid population growth along with growing cases of marine-borne diseases in the aquatic feed industry as a result of increasing incidences of infectious diseases promotes the use of antimicrobial aquatic feed supplement, which is likely to improve the market. North American market, is significantly captured by the aquaculture industry is due to expanding seafood consumption in countries such as the United States and Canada. The growing fish farming industry is expected to fuel the growth for aquatic feed supplements in the European market over the forecast period. The rise in disposable income along with significant rise in fish consumption and improved processed seafood adds to the growth of the market in these regions. The Middle East and Africa are expected to face steady demand growth due to growing awareness of consumers for better health and lifestyle along with growing sea-food demand for products drives the market. As a result of tight regulations, Latin America is seeing relatively slow growth.
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