Nigeria Aquafeed Additives Market Size & Outlook

Feed acidifiers was the largest segment with a revenue share of 11.08% in 2022. Horizon Databook has segmented the Nigeria 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 aquafeed additives market in Nigeria is growing at a constant pace due to large-scale fish production as well as consumption. It is restricted to inland freshwater as well as marine aquaculture and majorly cultured species include catfish and tilapia. The sector is mainly driven by private sector investments in feed and seed manufacturing as well as supply business. Ingredients namely maize and soybean are majorly being used in aquafeed production.

In addition, Cassava is also being included as raw material for feed production across the country. Olam International Limited has established an integrated fish feed production facility in Kwara State, Nigeria. The company uses soybeans, corn, and cassava for its animal feed operations.

The country is largely dependent on fish imports to meet the growing demand. Private sector investment coupled with growing imports have resulted in the development of aquaculture in the country. This has resulted in the growing demand for aquafeed which in turn has propelled the demand for feed additives in the country.