Middle East & Africa Aquafeed Additives Market Size & Outlook
Middle East & Africa aquafeed additives market, 2017-2030 (US$M)
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MEA aquafeed additives market highlights
- The MEA aquafeed additives market generated a revenue of USD 226.0 million in 2022.
- The market is expected to grow at a CAGR of 3% 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.
- Country-wise, Egypt is expected to register the highest CAGR from 2023 to 2030.
MEA data book summary
| Market revenue in 2022 | USD 226.0 million |
| Market revenue in 2030 | USD 287.0 million |
| Growth rate | 3% (CAGR from 2022 to 2030) |
| Largest segment | Feed acidifiers |
| Fastest growing segment | Essential Oil & Natural Extracts |
| Historical data covered | 2017 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 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, MEA region accounted for 10.5% of the global aquafeed additives market in 2022.
- Globally, Latin America is projected to lead the regional market in terms of revenue in 2030.
- Latin America is the fastest growing regional market and is projected to reach USD 1,166.6 million by 2030.
Feed acidifiers was the largest segment with a revenue share of 11.15% in 2022. Horizon Databook has segmented the Middle East & Africa 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 aquaculture in the country is increasing due to the growing consumption of seafood as well as an increase in fish imports. It is the largest producer of Litopenaeus vannamei (whiteleg shrimp). The country is one of the major exporters of shrimps to Vietnam and China. International players are entering into strategic alliances to get a foothold in the country’s aquafeed market.
In addition, tuna, salmon, and fishmeal are also being exported to various countries. This has led to increasing demand for aquafeed which has further fueled the demand for aquafeed additives in the region.
Key Regions: U.S. , UK , Japan , Brazil , South Africa
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Aquafeed Additives Market Scope
Aquafeed Additives Market Companies
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MEA aquafeed additives market size, by country, 2017-2030 (US$M)
Middle East & Africa Aquafeed Additives Market Outlook Share, 2022 & 2030 (US$M)
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