Aquaculture Feed and Pharmaceutical Market

Aquaculture Feed and Pharmaceutical Market Outlook (2024 to 2034)

As per a new study by seasoned analysts at Fact.MR, the global aquaculture feed and pharmaceutical market size is pegged at US$ 999.4 million for 2024. Worldwide demand for aquaculture feed and pharmaceuticals is predicted to increase at 7.4% CAGR and reach a market valuation of US$ 2.04 billion by the end of 2034.

Increasing global population and shifting dietary preferences to healthier options are set to stimulate worldwide demand for seafood. Aquaculture is believed to be one of the prominent sources of seafood production. In parallel, demand for aquaculture feed and pharmaceuticals is rising at a significant pace.

Advancements in aquafeed formulations, additives, and pharmaceuticals are predicted to lead to improved fish health and disease prevention. Innovations in aquaculture feed and pharmaceuticals are predicted to improve sustainability and efficiency.

More consumers are becoming conscious about the production of sustainable seafood. This demand is predicted to lead to the production of eco-friendly aquaculture feed and pharmaceuticals to minimize environmental impacts, address issues about the use of antibiotics, and reduce waste.

Regulatory policies about aquaculture practices, pharmaceutical usage, and feed ingredients are foreseen to hinder market growth opportunities. Restrictions imposed on antibiotic use are predicted to lead to the adoption of alternative options, including organic feed, for disease management.

• Demand for aquaculture feed and pharmaceuticals in China is projected to increase at a CAGR of 7.8% and reach a market valuation of US$ 924.1 million by the end of 2034.
• The United States is predicted to account for 69% share of the North American market by 2034.
• Sales of pharmaceuticals & biologics are forecasted to rise at 7.2% CAGR and reach US$ 1.6 billion by 2034-end.

Health and disease challenges in aquaculture species are forecasted to create constant requirements for efficient disease management solutions. R&D activities in this field aim to address health issues and prevalent diseases among farmed aquatic species. In addition, increased investments in the aquaculture industry for technology, infrastructure, and R&D activities are projected to foster innovations in aquaculture feed and pharmaceuticals, enhancing their efficacy and quality.

Report Attributes	Details
Aquaculture Feed and Pharmaceutical Market Size (2024E)	US$ 999.4 Million
Forecasted Market Value (2034F)	US$ 2.04 Billion
Global Market Growth Rate (2024 to 2034)	7.4% CAGR
East Asia Market Share (2034F)	50.1%
Demand Growth in Canada (2024 to 2034)	7.5% CAGR
China Market Value (2034F)	US$ 924.1 Million
Carp Segment Value (2024E)	US$ 425.8 Million
Pharmaceuticals & Biologics Segment Share (2034F)	78.5%
Key Companies Profiled	AgriProtein Holdings Ltd. InnovaFeed Beta Hatch Nutrition Technologies Group Mutatec Zoetis, Inc. Ridley Corporation Ltd. Schouw & Co. Merck & Co Inc. Aller Aqua A/A Biomin Holding GmbH Avanti Feeds Ltd. Alltech Inc. Norel S.A. Beneo GmbH Akretting AS Neovia Vietnam Growel Feeds Pvt. Ltd. Novus International Inc.

What is Aiding Aquaculture Feed and Pharmaceutical Market Growth?

“Rising Demand for Seafood across the World”

In recent years, there has been a noteworthy increase in the demand for seafood due to shifting dietary inclination to healthier food options. This transformation in dietary preferences is predicted to lead to the growing consumption of seafood owing to its recognized nutritional value and health benefits.

Aquaculture is predicted to emerge as a popular source of seafood production to match this increasing demand. Aquaculture generally involves farming of fish and similar aquatic organisms, which plays a significant role in matching the need for several seafood products. A controlled environment is provided for fish breeding, nurturing, and harvesting, ensuring a more reliable and sustainable supply of seafood in comparison to conventional fishing methods.

Certain supportive elements are required for the optimal growth and health of farmed fish. Adoption of high-quality feed can offer essential nutrients required for the proper development of aquatic species that are raised in captivity.

“Adoption of Sustainable Seafood Production Practices Amidst Rising Environmental Concerns”

Rising awareness about sustainability and environmental concerns in seafood production is predicted to influence industry practices and consumer behavior. More consumers are opting for seafood that aligns with sustainable and ethical practices. This paradigm shift is predicted to catalyze a noteworthy transformation in the aquaculture industry, stimulating the production and adoption of eco-friendly solutions aimed at reducing environmental impacts.

Conventional feed utilized in aquaculture generally contains ingredients that are sourced from wild fish, contributing to ecosystem imbalance and overfishing. Therefore, there is an emphasis on producing alternative feeds, which are derived from sustainable sources, including insects, plant-based proteins, and algae. These innovative feed formulations minimize the environmental footprint related to the production and distribution of feed. These initiatives are predicted to help foster a more sustainable and environment-friendly approach to the production of seafood, matching consumer expectations and safeguarding aquatic ecosystems for coming generations.

What is Expected to Limit Expansion Opportunities in the Market?

“Absence of Harmonization in Production Techniques Used for Veterinary Medicinal Products”

Several developed regions, including Europe, have varied laws defined for the development of veterinary medicines. For instance, in Germany, separate production lines are required to be installed for medicated feed and compound feed. In addition, there are also variations in the level of residue allowed for veterinary medicines across different countries. These differences are predicted to result in the absence of harmony in production practices, thereby limiting growth opportunities.

What Initiatives are New Companies Taking to Bolster Their Position in This Market?

“Investments in Technological Advancements for Development of Effective Pharmaceuticals”

Start-ups can focus on investment for the development of specialized and innovative products, including organic feeds enriched with specific nutrients targeting some prevalent diseases in aquaculture. Providing unique solutions can help new players get a competitive edge.

Country-wise Insights

According to a Fact.MR report, a market research and competitive intelligence provider, East Asia is predicted to contribute 50.1% share of global market revenue by 2034. This dominance is attributed to the increased adoption of qualitative feeds and pharmaceuticals for fish health and safety as demand for seafood is increasing in the region.

Why is the United States a Key Market in This Business?

“Increasing Consumption of Seafood Generating Demand for Healthier Aquatic Species”

Attribute	United States
Market Value (2024E)	US$ 190.9 Million
Growth Rate (2024 to 2034)	4.1% CAGR
Projected Value (2034F)	US$ 286 Million

The United States is predicted to hold 63.4% share of the North American market by 2034. Shifting consumer preferences to more sustainable and healthier food options is predicted to cushion demand for seafood. Aquaculture serves as the prominent source of seafood and fish production to match this demand. This boosts the need for quality aquaculture feed and pharmaceuticals. These products are essential for the health and growth of several farm species.

The growth of the aquaculture industry is predicted to generate demand for specialized feed and pharmaceuticals customized for several species.

Category-wise Insights

As per the study published by Fact.MR, a market research and competitive intelligence provider, the worldwide demand for crab byproducts is increasing in aquaculture for waste reduction and sustainability. Crab processing can generate waste in the form of residues and shells. Reusing these products is predicted to promote a sustainability approach, thus attracting aquaculture feed and pharmaceutical market trends.

Which Product Type is Gaining Ground among End Users?

“Rising Adoption of Pharmaceuticals & Biologics as Immunity Boosters”

Attribute	Pharmaceuticals & Biologics
Segment Value (2024E)	US$ 795.9 Million
Growth Rate (2024 to 2034)	7.2% CAGR
Projected Value (2034F)	US$ 1.6 Billion

Pharmaceuticals and biologics are forecasted to account for 78.5% share of the global market by 2034. Anti-inflammatories, antifungals, antibiotics, and other therapeutics are used in aquaculture feed and pharmaceuticals for aquatic species. Several vaccines are also predicted to gain traction for strengthening immunity and preventing viral infections among farm species. Several oral medications are also used as immunity boosters for species in the aquaculture industry.

Which Species is Forecasted to Hold a Dominant Position in the Market?

“High Nutritional Value of Carps Pushing Their Widespread Adoption”

Attribute	Carp
Segment Value (2024E)	US$ 425.8 Million
Growth Rate (2024 to 2034)	7.7% CAGR
Projected Value (2034F)	US$ 894.1 Million

Carps are projected to hold 43.8% aquaculture feed and pharmaceutical market share by 2034. Carp byproducts, including residue and shells, are rich in nutrients, including amino acids, chitin, proteins, lipids, and minerals (calcium, phosphorus, etc.). These components increase their value as feed supplements for several aquaculture species.

Chitin is contained in crab shells, which is generally processed into chitosan and finds application in aquaculture health products and pharmaceuticals. Its antimicrobial properties help in disease prevention, controlling parasites, and wound healing in aquaculture species.

Competitive Landscape

Providers of aquaculture feed and pharmaceuticals are adopting multiple strategies to achieve respective purposes, including effective management of supply chain systems, ensuring product quality control, and innovation.

Key players in the aquaculture feed and pharmaceutical market are AgriProtein Holdings Ltd., InnovaFeed, Beta Hatch, Nutrition Technologies Group, Mutatec, Zoetis, Inc., Ridley Corporation Ltd., Schouw & Co., Merck & Co Inc., Aller Aqua A/A, Biomin Holding GmbH, Avanti Feeds Ltd., Alltech Inc., Norel S.A., Beneo GmbH, Akretting AS, Neovia Vietnam, Growel Feeds Pvt. Ltd., and Novus International Inc.

Segmentation of Aquaculture Feed and Pharmaceutical Market Research

• By Product Type :

  • Pharmaceuticals & Biologics
  • Medicated Feed

• By Species :

  • Mollusks
  • Shrimp
  • Salmon
  • Carp
  • Tilapia
  • Catfish

• By Region :

  • North America
  • Europe
  • East Asia
  • Latin America
  • Middle East & Africa
  • South Asia & Oceania