Indonesia Aquafeed Additives Market Size & Outlook
Indonesia aquafeed additives market, 2017-2030 (US$M)
Related Markets
Indonesia aquafeed additives market highlights
- The Indonesia aquafeed additives market generated a revenue of USD 32.7 million in 2022 and is expected to reach USD 47.1 million by 2030.
- The Indonesia 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 32.7 million |
| Market revenue in 2030 | USD 47.1 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, Indonesia accounted for 1.5% 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 10.7% in 2022. Horizon Databook has segmented the Indonesia 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 the region is growing on account of increasing seafood consumption. The aquaculture in the region is diverse and characterized by freshwater, marine water, inland, offshore, and brackish water. The freshwater cultured species include such as pangasius, tilapia, catfish, common carp, and others.
The government is taking initiatives to boost shrimp aquaculture, which is expected to increase exports and contribute to the economic development of the country. Increasing seafood consumption coupled with growing exports has given rise to the demand for aquaculture in the country.
This has resulted in an increased demand for aquafeed, which, in turn, has propelled the growth of the aquafeed additives market in the country. Fishmeal and fish oil are the majorly used ingredients in feed production across the country.
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Aquafeed Additives Market Scope
Aquafeed Additives Market Companies
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Indonesia aquafeed additives market size, by ingredients, 2017-2030 (US$M)
Indonesia Aquafeed Additives Market Outlook Share, 2022 & 2030 (US$M)
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