Analysis of Aquaculture Algaepaste market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
According to the latest research by Transparency Market Research, the aquaculture algaepaste market is set to witness substantial growth during the forecast period 2021-2031. The demand for aquaculture algaepaste increasing as algae pastes are super-concentrated liquid microalgae feed for larval fish, shrimp, and bivalve shellfish.
The algae are cultured by the batch system in mono-specific cultures. These batches are continuously monitored for quality control, and when they are in the log growth phase and are at their nutritional peak they are concentrated by high volume, continuous flow centrifuges.
This concentrate or Algae Paste then has a food-grade preservative added to it that provides a relatively long shelf-life. Pastes are used to supplement or replace live algae grown on-site at the hatchery. It is made from microalgae grown intensively in large industrial facilities but concentrated by removing most of the water. It is not live (reproducing) but will remain in the water column similar to live algae. Thus, the demand for algaepaste is expected to witness significant demand from the aquaculture industry.
The consumption of aquaculture species such as fish, shrimps, prawns, and many others as part of the staple is increasing dramatically across the world. Consumers considering it as a sustainable source of food that has multiple health benefits.
Fish are a rich source of protein and are an easily available source of food. Besides, in many regions, it is consumed as a staple food in daily diet which creating a huge demand for fresh, canned and, frozen seafood products.
Which further leading to increased production of aquaculture across the world to meet the growing demand for seafood products.
Also, aquaculture is widely cultivated artificially in a small lake, ponds, tanks, etc. which fueling the demand for aquaculture feed including microalgae and algae paste. The demand is mainly increasing from Shrimp Hatchery, Finfish Hatchery, and Shellfish Hatchery across the world.
COVID-19 outbreak created an anxious situation among the animal feed manufacturers due to the trade barriers, but the steady demand from the hatcheries has minimal impact on the aquaculture algaepaste market.
The higher demand pattern for a cost-effective sustainable solution is expected to offer significant growth for the aquaculture algaepaste industry. Disruption in the agriculture and trading activities may lead to fluctuation in aquaculture commodities prices thus positively impacting the growth of the microalgae for offering algaepaste to aquaculture.
According to Seafood Health Fact Organization, American consumers ate 16.1 pounds of seafood per capita in 2018.
According to Canadian Aquaculture Industry Alliance, Canadians eat finfish an average of 3.7 times per month, and the average shellfish consumption frequency is 1.9 times per month.
This is a huge amount of per capita seafood consumption which creating a huge demand for seafood manufacturers and aquaculture products. U.S. and Canada are one of the prominent regions in the global seafood consumption which fueling demand for aquaculture produces.
Demand for aquaculture algaepaste in U.S. and Canada markets will be led by highlighted manufacturers’ interest in increasing their market share in this industry.
With increased focus on the potential of algaepaste usage aquaculture in the near future, many manufacturers in the U.S. have increased their production capacity and many are in process of increasing.
The increasing number of hatcheries and growing interest and increasing production capacities of the hatcheries are expected to drive substantial growth for Aquaculture algaepaste in U.S. and Canada during the forecast period.
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Europe is one of the prominent regions in the global seafood market as the number of seafood consumers is widely increasing in this region. Besides, it one of the largest importer of microalgae in the world. Global microalgae production is mainly based on aquaculture cultivation which contributes the largest share in microalgae consumption. The demand for aquaculture food directly impacts the growth of aquaculture algaepaste.
The number of aquaculture producers in Europe is increasing owing to the increased demand for aquaculture produce. The demand is mainly driven by food processing, the foodservice industry, and household consumption of seafood. These factors are fueling the demand for aquaculture microalgae in Europe. The aquaculture microalgae market in Europe is expected to register significant growth in the foreseeable future.
Some of the leading manufacturers and suppliers operating in the aquaculture algaepaste market include
are focusing on the expansion of their production facilities as well as strategic alliances/partnerships with regional large aquaculture manufacturers in the Asia Pacific, Europe, and North America, to increase their market presence and product offerings in the global market.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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Aquaculture algaepaste market is estimated to grow at a CAGR of 6.7% during the forecast period.
This industry is expanding as a result of growing knowledge of the health advantages of eating seafood.
China is likely to be a region with lucrative opportunities for the aquaculture algaepaste manufacturers.
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