Global Fish, Fish Feed, Fish Feed Additives, Shrimp, Shrimp Feed, and Shrimp Feed Additives Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Aquatic Feed and Additives Market is Segmented by Animal Type (Fish and Shrimp), Additive Type (Binders, Vitamins, Amino Acids, Antioxidants, Enzymes, Antibiotics, Minerals, and Acidifiers), and Geography (North America, Europe, Asia-Pacific, South America, and Middle East & Africa). The Report Offers Market Size and Forecast in Terms of Value (USD) and Terms of Volume (Metric Ton) for the Above-Mentioned Segments.

Aquatic Feed & Additives Market Size

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Fish Feed And Shrimp Feed Additives Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 49.93 Billion
Market Size (2029) USD 63.09 Billion
CAGR (2024 - 2029) 4.80 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific

Major Players

Fish Feed And Shrimp Feed Additives Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Aquatic Feed & Additives Market Analysis

The Fish & Shrimp, Fish Feed & Shrimp Feed and Additives Market size is estimated at USD 49.93 billion in 2024, and is expected to reach USD 63.09 billion by 2029, growing at a CAGR of 4.80% during the forecast period (2024-2029).

  • The growing demand for livestock products has been driving significant changes on the supply side to improve livestock product yields. New capital-intensive technologies have made poultry and pig meat production in industrial-style production facilities possible across regions, such as North America, Europe, and Asia-Pacific, especially in countries where arable land is limited.
  • According to FAO, the global cattle population has grown upward over the past four years. In 2020, the cattle population was 1.523 billion heads, which increased to 1.529 billion heads in 2021, demonstrating that cattle production has been rising to meet the accelerating demand for meat. Thus, the inflating demand for meat is expected to boost the need for feed additives during the study period.
  • Asia-Pacific and European regions produce more than 70% of the world's fish and shrimp. Fish is the largest aquaculture sector, accounting for 66% of the market. The most popular varieties of fish produced globally are salmon, trout, and sea bass. The demand for seafood and the annual fall in the quantity of captured wild fish are expected to drive exponential growth in fish and shrimp production. The adoption and advancement of technology and automation are expected to impact the market positively.
  • The market for fish and shrimp feed and feed additives is proliferating, owing to the increase in production and consumption of fish and shrimp. The rise in demand for high-quality fish and shrimp and the development of processed and innovative value-added products are anticipated to drive the feed and feed additive market.
  • The key players are involved in several inorganic and organic growth tactics, such as new product introduction and acquisitions, to increase their market share in the global aquaculture industry. For instance, Orffa expanded its aquaculture portfolio by introducing three product lines: ingredients, specialties, and veterinarian pharma products in 2021. This product consists of a unique blend of branded additives. Small-scale aquaculture farming is adopted by developing regions to increase the productivity of several commercial species and to create substantial growth opportunities in the global aquaculture market.

Aquatic Feed & Additives Market Trends

Increase in Fish Consumption

Fisheries and aquaculture are increasingly becoming primary sources of protein, foreign exchange, livelihoods, and well-being for the global population. Additionally, population growth, rising incomes in developing nations, and urbanization have led to a surge in the consumption of animal protein. This may be positively related to increasing fish and other seafood consumption at the expense of staple foods. Of the overall production of aquatic animals, nearly 89% were used for human consumption. The remaining were destined for non-food uses, producing mainly fishmeal and fish oil. This indicates a high demand for fish, which raises concerns about product quality. The use of high-quality feed and additives supports the market. Therefore, the growing balance of consumption demand for fish and other aquaculture species is evident in international markets. This is anticipated to boost the demand for the aquatic feed and additives market during the forecast period.

Fish Feed And Shrimp Feed Additives Market: Global Fish, Fish Feed, Fish Feed Additives, Shrimp, Shrimp Feed, and Shrimp Feed Additives Market: Aquaculture Production, in Million Ton, 2019-2020

Asia-Pacific Dominates the Market

Asia-Pacific produced 26.6 million metric tons of fish feed and 1.6 million metric tons of shrimp feed in 2021. With rising incomes and health consciousness, the food patterns of consumers in the region are shifting from a heavy carbohydrate-based diet to one rich in protein, accelerating market growth.

China and India are the leading markets in this region, contributing a significant part to the growing demand. The increased aquaculture and fisheries production, coupled with the growth in the per capita consumption of aquaculture products and the development of processed and innovative value-added shrimp and fish products, are expected to drive the market in these countries.

Furthermore, various government projects to increase the production of certified sustainable seafood are hastening the demand for aqua feed and feed additives. According to the national plan for 2022, Vietnam's total export revenue from shrimp products is expected to reach USD 10 billion by 2025.

Fish Feed And Shrimp Feed Additives Market: Global Fish, Fish Feed, Fish Feed Additives, Shrimp, Shrimp Feed, and Shrimp Feed Additives Market : Market Size, in %, Region, 2022

Aquatic Feed & Additives Industry Overview

The aquatic feed and additives market is moderately consolidated, consisting of small to medium feed and feed additive manufacturers and a few notable players, like Biomar, Cargill, and Aller Aqua. Biomar, being a leading supplier involved in larval, fry diets, grower diets, and functional feeds, has strong sales in China, the world's largest aquaculture market. Strategies such as expansions and partnerships have helped the companies hold a major market share. Further, companies are innovating products to broaden their product lines and cater to the market.

Aquatic Feed & Additives Market Leaders

  1. Alltech Inc.

  2. Biomar AS

  3. Biomin GmbH

  4. Aller Aqua AS

  5. Cargill Incorporated

*Disclaimer: Major Players sorted in no particular order

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Aquatic Feed & Additives Market News

  • February 2023: Alltech and Finnforel acquired the Raisioaqua fish feed production facility from the Finnish company Raisio. This acquisition will complete Finnforel’s sustainable circular-economy fish-farming chain while enhancing aquaculture producers’ access to Alltech’s nutritional technologies.
  • June 2022: Cargill has extended their partnership with Innovafeed to provide aquafarmers with innovative and nutritious ingredients, including additives. The agreement integrates Innovafeed's capabilities in creating precision insect ingredients with Cargill's global nutrition capabilities to increase the use of insect ingredients in aquaculture feed.
  • September 2021: Alltech Coppens opened its world-class research facility for innovation and the development of new applications in aquafeed. This expansion reinforces and improves the efficiency and capacity of the company for product development, aquaculture industry solutions, and fish nutrition.

Aquatic Feed & Additives Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increase in Fish Consumption

      2. 4.2.2 Rise in Export-oriented Aquaculture

    3. 4.3 Market Restraints

      1. 4.3.1 Fluctuating Global Prices of Raw Materials

      2. 4.3.2 Increasing Disease Epidemics in Major Markets

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers/Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Feed Market by Animal Type

      1. 5.1.1 Fish

      2. 5.1.2 Shrimp

    2. 5.2 Geography

      1. 5.2.1 North America

        1. 5.2.1.1 United States

        2. 5.2.1.2 Canada

        3. 5.2.1.3 Mexico

      2. 5.2.2 Asia-Pacific

        1. 5.2.2.1 India

        2. 5.2.2.2 Japan

        3. 5.2.2.3 China

        4. 5.2.2.4 Rest of Asia-Pacific

      3. 5.2.3 South America

        1. 5.2.3.1 Brazil

        2. 5.2.3.2 Ecuador

        3. 5.2.3.3 Rest of South America

      4. 5.2.4 Middle East & Africa

        1. 5.2.4.1 South Africa

        2. 5.2.4.2 Rest of Middle East & Africa

      5. 5.2.5 Europe

        1. 5.2.5.1 Germany

        2. 5.2.5.2 United Kingdom

        3. 5.2.5.3 France

        4. 5.2.5.4 Spain

        5. 5.2.5.5 Norway

        6. 5.2.5.6 Rest of Europe

    3. 5.3 Fish Feed Additives Market by Additive Type

      1. 5.3.1 Binders

      2. 5.3.2 Vitamins

      3. 5.3.3 Amino Acids

      4. 5.3.4 Antioxidants

      5. 5.3.5 Enzymes

      6. 5.3.6 Antibiotics

      7. 5.3.7 Minerals

      8. 5.3.8 Acidifiers

    4. 5.4 Shrimp Feed Additives Market by Additive Type

      1. 5.4.1 Binders

      2. 5.4.2 Vitamins

      3. 5.4.3 Amino Acids

      4. 5.4.4 Antioxidants

      5. 5.4.5 Enzymes

      6. 5.4.6 Antibiotics

      7. 5.4.7 Minerals

      8. 5.4.8 Acidifiers

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Share Analysis

    2. 6.2 Most Adopted Strategies

    3. 6.3 Company Profiles

      1. 6.3.1 Alltech Inc.

      2. 6.3.2 Aller Aqua AS

      3. 6.3.3 Biomar AS

      4. 6.3.4 Biomin GmbH

      5. 6.3.5 Cargill Incorporated

      6. 6.3.6 Nutreco NV

      7. 6.3.7 Ridley Corporation

      8. 6.3.8 Archer Daniels Midland Co.

      9. 6.3.9 BASF SE

      10. 6.3.10 Nutriad International

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Aquatic Feed & Additives Industry Segmentation

Aquatic feed refers to food given to aquatic animals for survival. Additives are nutritive ingredients supplemented in small quantities to improve the quality of fish or shrimp as a final product, preserve the physical and chemical quality of their diet, or maintain the quality of the aquatic environment. The Aquatic Feed and Additives Market is Segmented by Animal Type (Fish and Shrimp), Additive Type (Binders, Vitamins, Amino Acids, Antioxidants, Enzymes, Antibiotics, Minerals, and Acidifiers), and Geography (North America, Europe, Asia-Pacific, South America, and Africa). The report offers market size and forecast in terms of value (USD) and in terms of volume (Metric tons) for the above-mentioned segments.

Feed Market by Animal Type
Fish
Shrimp
Geography
North America
United States
Canada
Mexico
Asia-Pacific
India
Japan
China
Rest of Asia-Pacific
South America
Brazil
Ecuador
Rest of South America
Middle East & Africa
South Africa
Rest of Middle East & Africa
Europe
Germany
United Kingdom
France
Spain
Norway
Rest of Europe
Fish Feed Additives Market by Additive Type
Binders
Vitamins
Amino Acids
Antioxidants
Enzymes
Antibiotics
Minerals
Acidifiers
Shrimp Feed Additives Market by Additive Type
Binders
Vitamins
Amino Acids
Antioxidants
Enzymes
Antibiotics
Minerals
Acidifiers
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Aquatic Feed & Additives Market Research FAQs

The Fish & Shrimp, Fish Feed & Shrimp Feed and Additives Market size is expected to reach USD 49.93 billion in 2024 and grow at a CAGR of 4.80% to reach USD 63.09 billion by 2029.

In 2024, the Fish & Shrimp, Fish Feed & Shrimp Feed and Additives Market size is expected to reach USD 49.93 billion.

Alltech Inc., Biomar AS, Biomin GmbH, Aller Aqua AS and Cargill Incorporated are the major companies operating in the Fish & Shrimp, Fish Feed & Shrimp Feed and Additives Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Fish & Shrimp, Fish Feed & Shrimp Feed and Additives Market.

In 2023, the Fish & Shrimp, Fish Feed & Shrimp Feed and Additives Market size was estimated at USD 47.53 billion. The report covers the Fish & Shrimp, Fish Feed & Shrimp Feed and Additives Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Fish & Shrimp, Fish Feed & Shrimp Feed and Additives Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Fish & Shrimp, Fish Feed & Shrimp Feed and Additives Industry Report

Statistics for the 2024 Fish & Shrimp, Fish Feed & Shrimp Feed and Additives market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Fish & Shrimp, Fish Feed & Shrimp Feed and Additives analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Global Fish, Fish Feed, Fish Feed Additives, Shrimp, Shrimp Feed, and Shrimp Feed Additives Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)