The global aquafeed and aquaculture additives market is projected to exhibit notable growth by 2027 owing to prevalent demand for seafood across the globe. Moreover, increasing emphasis on reducing the environmental impact of the sector is slated to further support market growth through the forecast period.

The COVID-19 outbreak disrupted the global supply chain and adversely impacted numerous industries, including the aquaculture industry, which hampered market growth to a certain extent. However, with successful vaccination drives and rising focus on economic recovery around the world, the market is gradually regaining its pre-COVID momentum.

Notably, researchers are working on finding sustainable alternatives to make the overall industry greener, which has been favorable for product outlook. Additionally, industry players are adopting various strategic initiatives to fortify their market standing, thereby aiding business growth.

For instance, in May 2021, Skretting, the aquaculture arm of animal nutrition specialist Nutreco, announced its plans to expand its production capacity with the acquisition of the Westbury, Tasmania-based extrusion facility of Ridley, a leading firm in the animal nutrition space. The move was in continuation of Skretting’s long-standing commitment to the aquaculture industries of Australia and New Zealand.

The global aquafeed and aquaculture additives market has been segmented in terms of product, end use, and region. Based on end use, the market has further been bifurcated into mollusks, tilapia, crustaceans, carp, catfish, salmon, and others.

The crustaceans sub-segment is estimated to reach a sizable valuation by the end of 2027, growing at a solid CAGR over the assessment timeframe. High demand for crustaceans as they offer adequate omega fatty acids, vitamins, and minerals, and are considered an excellent source of amino acids, is set to drive segmental growth in the coming years.

The salmon sub-segment was valued at around USD 10,885 million in 2020 and is calculated to expand at a notable pace over 2021-2027. Farmed salmon is known to be a highly efficient source of protein and can contribute to balancing feed nutrients, which is likely to fuel segmental adoption through the review period. The global aquafeed and aquaculture additives market from the others sub-segment is anticipated to gain considerable traction by 2027, registering about 3.2% CAGR over the study timeframe.

From the regional perspective, the Latin America aquafeed and aquaculture additives market is expected to witness steady growth by 2027, delivering a CAGR of more than 3.3 % over the analysis period. Chile is the largest producer of aquafeed in LATAM owing to its highly developed salmon industry with respect to technology and nutrition, which is slated to impel regional market expansion in the forthcoming years.

The Middle East & Africa aquafeed and aquaculture additives market surpassed a valuation of USD 1,900 million in 2020 and is foreseen to progress at a steady CAGR through the forecast timeline. Surging consumption of fish and fish products, limited availability of marine feed resources, and mass production in MEA are speculated to promote regional market development in the future.