Thailand Aquafeed Additives Market Size & Outlook
Thailand aquafeed additives market, 2017-2030 (US$M)
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Thailand aquafeed additives market highlights
- The Thailand aquafeed additives market generated a revenue of USD 9.3 million in 2022 and is expected to reach USD 12.7 million by 2030.
- The Thailand market is expected to grow at a CAGR of 3.9% 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 9.3 million |
| Market revenue in 2030 | USD 12.7 million |
| Growth rate | 3.9% (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, Thailand accounted for 0.4% 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 10.75% in 2022. Horizon Databook has segmented the Thailand 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 Thailand is considered to be the most commercially successful aquafeed manufacturing industry across the globe. The demand for aquafeed is rising due to the increasing exports of fishery products across several countries. The abundant availability of key raw materials such as soybean, corn, and fish meal are expected to trigger the demand for aquafeed additives market throughout the country.
Growing awareness about the need for high protein content feeds coupled with the development of new and advanced technology is positively influencing the market growth. Further, farmers have shifted to on-farm mixed commercial feed from freshwater shrimp on the account of various chemical residue issues. Thus, it is anticipated to boost the demand for aquafeed additives in the coming years.
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Aquafeed Additives Market Scope
Aquafeed Additives Market Companies
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Thailand aquafeed additives market size, by ingredients, 2017-2030 (US$M)
Thailand Aquafeed Additives Market Outlook Share, 2022 & 2030 (US$M)
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