Aquaculture is known as farming of mollusk, aquatic plants,fish, algae, crustaceans, and other aquatic organisms. It involves cultivationof seawater and freshwater aquatic organisms under conditions that arecontrolled to generate high production output. Aquaculture additives arechemical compounds used to increase immunity, protect aquatic animals frominfection, boost growth, and provide basic nutrients to aquatic organisms.Aquaculture has gained prominence in the global animal agriculture industry dueto the expansion in the global economy and rise in disposable income indeveloping economies such as China and India. This, in turn, is driving theaquaculture additive market across the globe.
Increasein demand for aquaculture additives in developing countries and extensive useof these additives to enhance the overall aquaculture production are factorsaugmenting the aquaculture additive market. This is encouraging companies toincrease production of these additives. Additionally, easy availability of rawmaterials is anticipated to boost the demand for aquaculture additives in thenear future.
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The globalaquaculture additive market is witnessing technological advancements. Companiesare constantly striving to develop new and better ways to manufacture theseadditives. Development of new manufacturing processes of aquaculture additiveand applications is estimated to propel the market. However, volatility inprices of raw materials is projected to hamper the market.
In termsof product, the aquaculture additive market can be divided into amino acids,antibiotics, vitamins, feed acidifiers, and others. The amino acids segment isanticipated to expand at a considerable pace due to the increase in demand forthese additives in nutrition applications.
Based onapplication, the aquaculture additive market can be segmented intopreservation, processing, and nutrition. The preservation segment is dominatingthe market owing to the extensive use in emerging economies such as India andChina.
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Based ongeography, the aquaculture additive market can be segregated into NorthAmerica, Latin America, Asia Pacific, Europe, and Middle East & Africa.Asia Pacific is anticipated to constitute key share of the market during theforecast period. The aquaculture additive market in Asia Pacific is also likelyto expand a considerable pace owing to the increase in demand for theseadditives in the chemical & petrochemical applications in the region.Middle East & Africa is estimated to be an attractive region of the aquacultureadditive market during the forecast period due to the rise in demand for theseadditives in the medical applications in the region.
Prominentplayers operating in the global aquaculture additive market include AlltechInc., Cargill, Inc., Bentoli, Inc., Norel S.A., TECHNA SA, Evonik Industries,Royal DSM, BIOMIN Holding GmbH, and Bluestar Adisseo Co., Ltd.
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