[FURL=https://www.industryarc.com/Research/Aquaculture-Additives-Market-Research-508420?utm_source=BriefingWire&utm_medium=PressRelease&utm_campaign=PaidPressRelease]Aquaculture Additives Market[/FURL] size was valued at $ 1.25Billion by 2020 and is anticipated to grow at a CAGR of 7.8% during the forecast period 2021-2026. The Aquaculture Additives Market growth rate is attributed to the growing knowledge among fish breeders about the advantages of supplying adequate nutrition to fish is anticipated to bring new opportunities. Aquaculture, also known as aqua-farming, is a procedure of breeding fish, molluscs, crustaceans, aquatic plants, algae, and other aquatic organisms. Types of aquaculture include shrimp farming, fish farming, Mari-culture, oyster farming, cultivation of ornamental fish and alga-culture. Aquaculture additives are chemical compounds that act as extra nutrients for aquatic animals that help to boost their immunity levels, protect from infections, and maintain overall health of the aquatic organisms.Furthermore, aquaculture additives contain antibiotics to prevent occurrences of bacterial diseases of fish. Antibiotics provide pathogenic protection to fish as well as promote metabolism. However, the antibiotics market is anticipated to witness hurdles over the next eight years owing to the implementation of bans on several products including malachite green, chloramphenicol, gentian violet, and nitrofuran as they cause water contamination. Advancements in amino acid nutrition technology and their application in the formulation of environment-oriented and functional aquafeed is projected to aid market growth in the upcoming years.
Key Takeaways
Asia-Pacific dominated the Aquaculture Additives Market with a share of 42.16% in the year 2020.
The factors such as growing knowledge among fish breeders about the advantages of supplying adequate nutrition to fish are amongst the major factor projected to impel growth of Aquaculture Additives Market.
Increase in demand for aquaculture additives in developing countries and extensive use of these additives to enhance the overall aquaculture production are the key factors owing the growth in the segment during forecast period 2021-2026.
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Aquaculture Additives Market Drivers
Rising consumer awareness about health benefits of consumption of aquatic animals
The Aquaculture Additives market is poised to receive upswing owing to the fact that worldwide consumption rate of seafood has been witnessing a steady increase in the recent past owing to rising awareness regarding health benefits and nutritional value associated with seafood.
Aquaculture Additives Market top 10 companies are BioMar A/S, Cargill, Incorporated.; Ridley Corporation Limited, Aller Aqua A/S, Cermaq Group AS, ADDCON GmbH, ADM, BASF SE, BIOMIN Holding GmbH, DSM, Evonik Industries AG .
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