India Aquafeed Additives Market Size & Outlook, 2022-2030
India aquafeed additives market, 2017-2030 (US$M)
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India aquafeed additives market highlights
- The India aquafeed additives market generated a revenue of USD 28.4 million in 2022 and is expected to reach USD 41.0 million by 2030.
- The India market is expected to grow at a CAGR of 4.7% 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 28.4 million |
| Market revenue in 2030 | USD 41.0 million |
| Growth rate | 4.7% (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, India accounted for 1.3% 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.
Feed acidifiers was the largest segment with a revenue share of 11.62% in 2022. Horizon Databook has segmented the India 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 industry in India has witnessed a significant vertical and horizontal expansion over the last decade due to its ability to offer several socioeconomic benefits such as increased income, employment, foreign exchange, and nutritional levels in animals and humans.
Various aquaculture species produced in India include carp, catfish, finfish, pangasius, prawns, and shrimps. Carp is produced on a large scale in the country due to the presence of abundant raw materials, which, in turn, is likely to trigger the demand for aquafeed additives over the forecast period.
The adoption of modern aquaculture farming techniques by farmers in India is expected to have a positive impact on the production of carp in the country. Moreover, the presence of favorable geographic conditions such as a long coastline and vast network of rivers, canals, ponds, tanks, paddy fields, and reservoirs has contributed to the demand for aquaculture in the country.
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Aquafeed Additives Market Scope
Aquafeed Additives Market Companies
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India aquafeed additives market size, by ingredients, 2017-2030 (US$M)
India Aquafeed Additives Market Outlook Share, 2022 & 2030 (US$M)
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