Canada Aquafeed Additives Market Size & Outlook, 2022-2030
Canada aquafeed additives market, 2017-2030 (US$M)
Related Markets
Canada aquafeed additives market highlights
- The Canada aquafeed additives market generated a revenue of USD 52.3 million in 2022 and is expected to reach USD 75.2 million by 2030.
- The Canada market is expected to grow at a CAGR of 4.6% 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.
Aquafeed additives market data book summary
| Market revenue in 2022 | USD 52.3 million |
| Market revenue in 2030 | USD 75.2 million |
| Growth rate | 4.6% (CAGR from 2022 to 2030) |
| Largest segment | Feed acidifiers |
| Fastest growing segment | Essential Oil & Natural Extracts |
| Historical data | 2017 - 2021 |
| Base year | 2022 |
| Forecast period | 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, Canada accounted for 2.4% of the global aquafeed additives market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. aquafeed additives market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 75.2 million by 2030.
Feed acidifiers was the largest segment with a revenue share of 12.24% in 2022. Horizon Databook has segmented the Canada 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.
The aquafeed additives market in Canada is steadily growing due to the rising demand for fish-based products. Salmon feeds constitute a substantial amount of fish oil and fish meal, which are concentrated products made from many small ocean fish that hamper the ecological balance of marine life.
It accounts for large-scale harvesting of farmed salmon, which is also one of the majorly exported seafood products. Insects being a natural source of protein and fat for fish, including salmon and trout are being used as an alternative for fish meals in the country.
In addition, the use of naturally sourced camelina oil as a feed ingredient for salmon and trout has been approved by the CFIA as an alternative for fishmeal and fish oil. Increasing development in aquaculture, coupled with innovation in feed products, is expected to augment the demand for aquafeed additives in the country.
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Aquafeed Additives Market Scope
Aquafeed Additives Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada aquafeed additives market size, by ingredients, 2017-2030 (US$M)
Canada Aquafeed Additives Market Outlook Share, 2022 & 2030 (US$M)
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