Asia Pacific Aquafeed Additives Market Size & Outlook
Asia Pacific aquafeed additives market, 2017-2030 (US$M)
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Asia Pacific aquafeed additives market highlights
- The Asia Pacific aquafeed additives market generated a revenue of USD 217.0 million in 2022.
- The market is expected to grow at a CAGR of 4.4% from 2023 to 2030.
- In terms of segment, feed acidifiers was the largest revenue generating ingredients in 2022.
- Essential Oil & Natural Extracts is the most lucrative ingredients segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2023 to 2030.
Asia Pacific data book summary
| Market revenue in 2022 | USD 217.0 million |
| Market revenue in 2030 | USD 305.7 million |
| Growth rate | 4.4% (CAGR from 2022 to 2030) |
| Largest segment | Feed acidifiers |
| Fastest growing segment | Essential Oil & Natural Extracts |
| Historical data covered | 2017 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Anti-Parisitic, Feed Acidifiers, Prebiotics, Essential Oil & Natural Extracts, Palatants |
| Key market players worldwide | Aker ASA Class A, Nutrien Ltd, Rexel SA, Lallemand, Alltech, Kemin Industries, Nouryon, DuPont de Nemours Inc, Biorigin, Calamos Evolving World Growth A |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 10.0% of the global aquafeed additives market in 2022.
- Globally, Latin America is projected to lead the regional market in terms of revenue in 2030.
- Latin America is the fastest growing regional market and is projected to reach USD 1,166.6 million by 2030.
Feed acidifiers was the largest segment with a revenue share of 11.15% in 2022. Horizon Databook has segmented the Asia Pacific aquafeed additives market based on anti-parisitic, feed acidifiers, prebiotics, essential oil & natural extracts, palatants covering the revenue growth of each sub-segment from 2017 to 2030.
Asia Pacific is projected to grow at a rapid pace in the global aquafeed additives market over the forecast period due to the substantial growth of aquaculture industry, which is attributed to the availability of cheap labor, ease of induced conditions for aquaculture, and the presence of natural resources in the region.
Strong aquaculture production in the region, predominantly in China and India, as well as factors such as the ease of fish farming, durability of species, and better water quality within closed farm systems are projected to drive the demand for aquafeed additives in the coming years. The favorable climatic conditions in these countries aid the overall aquaculture production, thereby driving aquafeed industry and consequently, the aquafeed additives market.
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Aquafeed Additives Market Scope
Aquafeed Additives Market Companies
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Asia Pacific aquafeed additives market size, by country, 2017-2030 (US$M)
Asia Pacific Aquafeed Additives Market Outlook Share, 2022 & 2030 (US$M)
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