China Aquafeed Additives Market Size & Outlook, 2022-2030
China aquafeed additives market, 2017-2030 (US$M)
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China aquafeed additives market highlights
- The China aquafeed additives market generated a revenue of USD 69.5 million in 2022 and is expected to reach USD 98.4 million by 2030.
- The China market is expected to grow at a CAGR of 4.4% from 2023 to 2030.
- In terms of segment, palatants 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 69.5 million |
| Market revenue in 2030 | USD 98.4 million |
| Growth rate | 4.4% (CAGR from 2022 to 2030) |
| Largest segment | Palatants |
| 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, China accounted for 3.2% 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 Asia Pacific, China aquafeed additives market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 41.0 million by 2030.
Palatants was the largest segment with a revenue share of 12.81% in 2022. Horizon Databook has segmented the China 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 sector is growing tremendously across the country on account of the large-scale production of fishery. South China is favored for the production of aquaculture species in the inland and coastal waters due to the warm temperature of the water, which is suitable for the growth of economically valuable and fast-growing species such as tilapia and carp.
Various types of carps including bigmouth carp, silver carp, grass carp, and black carp are majorly produced in the country as they are prolific breeders and require low production costs. It is the largest producer of carp, tilapia, shrimp, eel, seaweed, and shellfish and exports these species to foreign markets. This can be attributed to one of high consumption of carp globally coupled with the rapid growth of tilapia.
In China, aqua feed ingredients are diversified in nature and have improved bioavailability due to the technological development of commercial products including compound fermentation, neutral phytase, micro-comminution, feeding attractants, essential amino acids (EAA) encapsulation, and formulation EAA balance. Such factors are likely to boost the market growth for aquafeed additives in the coming years.
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Aquafeed Additives Market Scope
Aquafeed Additives Market Companies
| Name | Profile | # Employees | HQ | Website |
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China aquafeed additives market size, by ingredients, 2017-2030 (US$M)
China Aquafeed Additives Market Outlook Share, 2022 & 2030 (US$M)
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