Aquafeed Additives Market Size, Share & Trends Report

Aquafeed Additives Market Size, Share & Trends Analysis Report By Application (Tilapia, Catfish), By Ingredient (Feed Acidifiers, Anti-parasitic, Prebiotics), By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-3-68038-555-7
  • Number of Pages: 150
  • Format: Electronic (PDF)

Research Methodology

A three-pronged approach was followed for deducing the aquafeed additives market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for aquafeed additives market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of aquafeed additives market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Aquafeed Additives Market Categorization:

The aquafeed additives market was categorized into four segments, namely ingredient (Anti-parasitic, Feed Acidifiers, Prebiotics, Essential Oils & Natural Extracts, Palatants,), application (Carp, Rainbow Trout, Salmon, Crustaceans, Tilapia, Catfish, Sea Bass, Groupers), and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).

Segment Market Methodology:

The aquafeed additives market was segmented into ingredient, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The aquafeed additives market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-three countries, namely, the U.S.; Canada; Mexico; Germany; UK.; France; Italy; Spain; Norway; China; India; Japan; South Korea; Vietnam; Thailand; Brazil; Argentina; Chile; Ecuador; South Africa; Iran; Egypt; Nigeria

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Aquafeed additives market companies & financials:

The aquafeed additives market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Nutriad: The company manufactures and supplies feed additive solutions for livestock and aquaculture worldwide. It develops solutions for species namely fish, pigs, ruminants, poultry, ostriches, equines, and camels. The company’s product portfolio includes palatability, mycotoxin management, digestive performance, and preservation & functional food ingredients. It operates in over 80 countries and has laboratories and technical facilities located in the UK, the U.S., and Belgium. It is a subsidiary of Adisseo, an animal nutrition company.

  • Olmix Group: The companydelivers natural algae-based solutions for improving the health, nutrition, and hygiene of humans, plants, and animals. It operates through three segments, namely plant care, animal care, and human care. The animal care segment includes additives such as mycotoxin binders, enzymes, immunity, and digestion enhancers. The company is involved in continuous research and development with 15 patents and a pilot plant (600-meter square) for developing new technological processes including complexation reactions, different types of extraction, and micronization, especially for developing trace materials, clay minerals, and algae.

  • Lallemand, Inc.: The company specializes in the production, development, and marketing of bacteria and yeast including silage inoculants, probiotics, and derivatives of yeast. The company has 11 technically driven business units namely baking, animal nutrition, bio-ingredients, brewing, biofuels & distilled spirits, health solutions, oenology, specialty cultures, pharma, plant care, and organic yeast. The animal nutrition business unit is directed toward optimizing animal well-being and performance with specific products and service solutions. Its product portfolio includes yeast strains for forage, dairy, beef, small ruminants, swine, poultry, aquaculture, equine, and pet nutrition.

  • Kemin Industries, Inc.: The company is engaged in the manufacturing and distribution of specialty nutritional ingredients. The company operates through eight business divisions including animal nutrition & health, textile auxiliaries, pet food & rendering technologies, human nutrition & health, food technologies, crop technologies, biofuels, and aquaculture. The aquaculture division offers immune and gut health enhancers, feed digestion enhancers, minerals, probiotics, and water quality enhancers. The company offers over 500 specialty ingredients for animals and humans in the global food and feed industry. Its manufacturing facilities are located in the U.S., South Africa, Singapore, Russia, Italy, India, Belgium, China, and Brazil.

  • Biorigin: The company manufactures natural ingredients for the food and feeds market worldwide. The natural ingredients exhibit properties including flavor enhancement, sodium reduction, extended shelf life, feed enrichment, and animal health enhancement. The company’s animal nutrition products consist of MacroGard, ActiveMOS mannan oligosaccharides that support gastrointestinal tract health and enhance its functions, highly preserved, purified beta 1,3/1,6 glucans, Nutricell inactive dry yeast; HiCell autolyzed yeasts; Selemax organic selenium; and Brewcell brewer’s inactive dry yeast for pigs, poultry, aquaculture and ruminates.

  • Nouryon: The company is engaged in manufacturing everyday use products such as plastics, paper, personal care products, and building materials. It is one of the prominent participants across key industries including paints & coatings, agriculture, pulp & paper, cleaning & personal care, polymer production & processing, oil & gas, electronics, food, and water treatment. The company manufactures and supplies specialty chemicals for challenges related to animal feed for several industries and municipalities. It offers specialty chemicals for aquaculture feed under the brand name BREDOL, which are used for emulsification, pellets production, and milk replacers, particularly in the Asia Pacific and Europe.

  • DuPont de Nemours, Inc.: The company operates in various range of business areas such as Sustainable Solutions, Protection Solutions, Pioneer, Performance materials, Nutrition & Health, Industrial Biosciences, Electronics & Communication, and Crop Protection. It offers products for use in various applications such as chemicals, water solutions, safety & protection, plastics, packaging & printing, mining, marine, healthcare & medical, government & public sector, food & beverage, energy, electronics, building & construction, automotive, and agriculture. The company offers feed additives for poultry, swine, dairy, and aquatic species through its subsidiary Danisco Animal Nutrition.

  • Delacon Biotechnik GmbH: The company develops and supplies phytogenic feed additives. It manufactures and supplies natural feed additives composed of essential oils, spices, and herbs. The company’s patented microencapsulation (heat-resistant) process protects active substances from processing and storage conditions. In addition, it has built the Performing Nature Research Center (PNRC) for advanced phytogenic research and it collaborates with researchers globally to conduct fundamental joint research and global field trials. Its product portfolio includes feed additives for poultry, swine, and ruminants.

  • Camlin Fine Sciences Ltd.: manufactures and supplies specialty chemical and blend products worldwide. The company offers its products in flavor, fragrance, food & beverage, pet food & animal nutrition, and aquaculture industries. The product portfolio includes a wide range of animal nutrition products such as adsorbents, antioxidants, mold inhibitors, binders, bactericides, and acidifying agents. It is vertically integrated to ensure the stability, supply, assurance, and traceability of the product.

  • Phileo by Lesaffre: The company develops and distributes animal health and performance solutions derived from live yeasts, bacteria, and yeast products. It has R&D divisions present across Europe, America, and Asia. The company has developed the Farm Phileo platform to promote innovation in the fast-growing field of animal nutrition & care to meet ethical, health, and performance challenges. Its product portfolio includes bacteria probiotics, yeast probiotics, yeast fractions, specific active ingredients; and yeast protein sources for ruminants, pigs, poultry, aquaculture, equine, and pet industry.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Aquafeed Additives Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 - 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Aquafeed Additives Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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