Chile Aquafeed Additives Market Size & Outlook, 2022-2030
Chile aquafeed additives market, 2017-2030 (US$M)
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Chile aquafeed additives market highlights
- The Chile aquafeed additives market generated a revenue of USD 202.3 million in 2022 and is expected to reach USD 301.5 million by 2030.
- The Chile market is expected to grow at a CAGR of 5.1% 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 202.3 million |
| Market revenue in 2030 | USD 301.5 million |
| Growth rate | 5.1% (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, Chile accounted for 9.4% 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 Latin America, Chile aquafeed additives market is projected to lead the regional market in terms of revenue in 2030.
- Chile is the fastest growing regional market in Latin America and is projected to reach USD 301.5 million by 2030.
Feed acidifiers was the largest segment with a revenue share of 10.58% in 2022. Horizon Databook has segmented the Chile 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.
Aquaculture is one of the most dynamic and prosperous activities in Chile Aquaculture in Chile majorly constitutes of Atlantic salmonids followed by rainbow trout, mussels, and scallops on a minimal level. In addition, the country is a major exporter of salmon worldwide with the U.S., Japan, and Brazil being the main importing countries.
Even after a setback in salmon farming due to the infectious salmon anemia (ISA) disease, salmon aquaculture experienced significant growth in Chile due to better implementation of technology and rising government interest in the sector. The country is one of the major producers of fishmeal and fish oil which is used as a feed ingredient for salmon feed. This has resulted in the depletion of marine stock in the oceans.
In addition, large-scale use of fish meal and fish oil has resulted in an upsurge in the prices of these feed ingredients. As a result, many industry players are focusing on alternatives that can be used as feed ingredients. This is anticipated to trigger the market demand for aquafeed additives over the forecast period.
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Aquafeed Additives Market Scope
Aquafeed Additives Market Companies
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Chile aquafeed additives market size, by ingredients, 2017-2030 (US$M)
Chile Aquafeed Additives Market Outlook Share, 2022 & 2030 (US$M)
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