NEWARK, Del, Sept. 05, 2024 (GLOBE NEWSWIRE) -- According to Future Market Insights (FMI), the worldwide Aquafeed Enzymes market is valued at USD 483.0 million in 2024 and it is anticipated to reach USD 804.5 million by 2034. Over the next decade, global Aquafeed Enzymes demand is likely to increase at a CAGR of 5.2%.
There's an expanding potential of boosting aquafeed's nutritional value through research and innovation. To develop breakthrough enzyme-based solutions that can boost feed efficiency, minimize waste, and support sustainable aquaculture approaches, companies have invested money on research and development.
- Cargill unveiled a new innovative aquafeed brand named AquaPro, while BioMar established a research collaboration with the University of Edinburgh. Skretting also confirmed the opening of a new R&D center in Norway.
Manufacturers are constantly innovating new enzyme blends to improve aquafeeds' nutritional composition and digestibility. Enzymes such as lipases, cellulases, amylases, and proteases, for instance, are utilized to enhance feed component breakdown and increase the accessibility of nutrients for aquatic life.
- Enzymes like phytase improve nutrient availability in plant-based feeds, while proteases enhance protein digestion in fish feed.
The industry is expected to be stimulated by the increased demand for aquafeed enzymes in developing countries, where the aquaculture industry is expanding substantially.
Understanding the Aquafeed Enzymes Market
The aquafeed enzymes market plays a crucial role in the aquaculture industry by enhancing the nutritional value and digestibility of feed, leading to improved growth rates and health in aquatic species. Enzymes like proteases, phytases, and carbohydrases are commonly used to break down complex nutrients in feed ingredients, making them more accessible for absorption by fish and shrimp. This not only boosts feed efficiency but also reduces environmental impact by minimizing waste output. The growing demand for sustainable and cost-effective aquaculture practices is driving the adoption of enzyme-based feed additives, as producers seek to optimize production and meet the rising global demand for seafood.
The market is influenced by various factors, including advancements in enzyme technology, increased awareness of the benefits of enzyme supplementation, and stringent regulations on the use of antibiotics in aquafeed. Companies in the industry are continuously innovating to develop enzymes that are more effective under a range of aquaculture conditions, such as varying water temperatures and salinity levels.
Regional Insights into the Aquafeed Enzymes Market
| Countries | Market Value (2034) |
| China | USD 144.8 million |
| India | USD 96.5 million |
| Indonesia | USD 64.4 million |
| Brazil | USD 40.2 million |
| Norway | USD 28.2 million |
Key Takeaways from the Aquafeed Enzymes Report:
- The global Aquafeed Enzymes market is expected to reach a valuation of USD 804.5 million by 2034.
- Global demand for Aquafeed Enzymes is likely to soar at 5.2% CAGR over the forecast period.
- East Asia is projected to hold a dominant value share of 36.4% in the global market by 2034.
- India market is estimated to witness a value CAGR of 4.9% during the projection period.
“The aquafeed enzymes market is poised for significant growth, driven by the increasing demand for sustainable and efficient aquaculture practices. Enzymes enhance feed digestibility and nutrient absorption, reducing waste and environmental impact. With rising global seafood consumption and advancements in feed technology, the market is expected to expand, offering lucrative opportunities for industry players”, says Nandini Roy Choudhury, Client Partner at Future Market Insights.
Prominent Drivers of the Aquafeed Enzymes Market
The aquafeed enzymes market is driven by the rapid expansion of the aquaculture industry, fueled by the increasing demand for seafood as a healthy and sustainable protein source. As fish farming grows to meet global consumption needs, there is a heightened focus on improving feed efficiency and reducing environmental impact. Enzymes in aquafeed enhance nutrient digestibility, boost growth rates, and cut waste production, making aquaculture more cost-effective and sustainable. The shift towards plant-based ingredients in aquafeed also necessitates specific enzymes to break down complex plant materials, further driving market growth.
Sustainability and environmentally friendly farming practices are also key drivers of the aquafeed enzymes market. Regulatory bodies and consumers are increasingly demanding greener production methods, encouraging the use of enzymes that reduce the need for antibiotics and other chemical additives. These enzymes help optimize feed conversion ratios, lower feed costs, and minimize the ecological footprint of aquaculture operations. Technological advancements in enzyme production and the development of tailored enzyme solutions for different species and feed compositions are further propelling the market, solidifying the role of aquafeed enzymes in sustainable aquaculture.
Who is Winning?
Leading Aquafeed Enzymes Brands
- Kemin Industries
- ADM Animal Nutrition
- American Biosystem
- Creative Enzymes
- DSM (Koninklijke DSM N.V.)
- Hostazym X (Huvepharma)
- BASF SE (Nutrition BASF)
- Ab Vista
- Weifang Yuexiang Chemical Co., Ltd.
- Chaoyang Starzyme Bioengineering Co., Ltd
- Bestzyme Bio-Engineering Co., Ltd
- Biolaxi
- Nippon Koi Farm
- Aumenzymes
- Others
These companies are focusing on research and development, sustainable sourcing, and new formulations. They are also emphasizing environment-friendly practices and product certifications to satisfy the increasing demand for natural and sustainable ingredients.
For instance,
- MiAlgae launched Omega 3 products derived from algae for aquafeed and pet food in April 2023, introducing their NaturalAlgae powder with a high concentration of DHA and other oils.
- Skretting, the world's largest fish feed manufacturer, partnered with Zooca Calanus to develop a copepod-based aquafeed, leveraging Zooca Calanus' expertise in processing the nutrient-rich marine copepod Calanus finmarchicus.
Get More Valuable Insights
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global Aquafeed Enzymes market presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.
The study incorporates compelling insights on the Aquafeed Enzymes market based on enzyme type (protease, amylase, lipase, non-starch polysaccharidases, phytase, glucose oxidase, and lysozyme), form (liquid and powder), and aquatic animal (carps, crustaceans, molluscs, tilapias, catfish, salmon, and others (sturgeons, paddlefishes, etc.) across various regions.
Browse Full Report: https://www.futuremarketinsights.com/reports/aquafeed-enzymes-market
Key Segments of Market Report
By Enzyme Type:
As per enzyme type, the market has been categorized protease, amylase, lipase, non-starch polysaccharidases, phytase, glucose oxidase, and lysozyme
By Form:
As per form, the market has been categorized into liquid and powder
By Aquatic Animal:
This segment is further categorized into carps, crustaceans, molluscs, tilapias, catfish, salmon, and others (sturgeons, paddlefishes, etc.)
By Region:
Industry analysis has been carried out in key countries of North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa.
About the Food & Beverage Division at Future Market Insights (FMI)
Expert analysis, actionable insights, and strategic recommendations – the Food & Beverage team at Future Market Insights (FMI) helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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