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Asia Pacific Aqua Feed and Aqua Feed Additives Market - Growth, Trends and Forecast (2019-2024)

  • ID: 4790896
  • Report
  • Region: Asia, Asia Pacific
  • 346 pages
  • Mordor Intelligence
UP TO OFF
until Dec 31st 2019
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FEATURED COMPANIES

  • ADDCON Group
  • Avitech Nutrition
  • Bentoli
  • Elanco Animal Health Inc.
  • Growel Feeds Pvt. Ltd
  • Novozymes A/S
  • MORE
Market Overview

The Asia-Pacific aqua feed market was valued at USD 6,447 million in 2018, and is projected to reach USD 9,036.8 million by 2024, registering a CAGR of 5.5% during the forecast period. While, Asia-Pacific aqua feed additives market was valued at USD 428.2 million in 2018, and is projected to reach USD 547.2 million by 2024, growing at a CAGR of 5.0% during the forecast period. India accounted for the largest share in Asia-Pacific aquafeed market, accounted for more than 25% of the market in 2018 whereas, the Vietnamese aquafeed market is projected to grow at the highest CAGR, during the forecast period. By species, litopenaeus vannamei accounted for the largest share in the Indian aquafeed market, accounting for 54% of share in 2018. It is also expected to be the fastest growing, while registering a CAGR of 6.0% during the forecast period. On an average, India is equipped with 26 aquafeed mills with production capacities of around 43.4%, and the companies are producing 1.25 million metric ton of aquafeed per year.

Aqua Feed and Aqua Feed Additives Market Concentrated in a Few Production Clusters

The Asia-Pacific aquafeed and aquafeed additives market is solely focused on China, India, Bangladesh, Indonesia, the Philippines, Thailand, and Vietnam, which are some of the major markets in the aquaculture as well as the aquafeed industry in the region. Increase in feed demand, increasing export-oriented aquaculture production, and increased adoption of scientific aquaculture management practices are some of the major drivers for the market. The region has a huge potential for growth during the forecast period and a few of the countries have already begun their initiatives to create a self-sufficient aquaculture system. The dramatic rise and emergence of aquaculture products in the global market place, coupled with the increasing nutritional awareness among consumers, spurred the sales of compound feed and feed additives in the Asia-Pacific region. In countries like India, Thailand, and Vietnam, the increase in the production of commercial aquafeed and aquafeed additives matched the rapid growth of the aquaculture sector.

For instance, the official figures from FAO shows that aquafeed production in Vietnam increased by four folds from 2008 to 2016. In the case of India, the heavier harvests of aqua cultured vannamei shrimp covered 41% of the Indian seafood exports in 2017. However, increased governmental support and improved transportation infrastructure increased the importance of international trade in the last ten years. For instance, in India, Marine Products Export Development Authority (MPEDA) launched an initiative to develop a GPS-based database of export-oriented aquaculture farms in the country to ensure their traceability and quality control. Similarly in Indonesia, the PROTEKAN (Program to Increase Exports of Fisheries) program is aimed at intensifying the fishery exports.

Fluctuating Raw Material Prices Restraining the Market

Fluctuating global prices of raw materials and increasing incidences of disease epidemics are some of major reasons restraining the market growth in the region. The growing importance of domestic and export aquaculture market in the developing world has created supply and demand inconsistencies in the international markets. Although the production in the Asia-Pacific region increased, the demand has a relatively stronger upward effect on prices, pushing the Fish Price Index(FPI) up by 7 points in 2017. For instance, the shrimp prices in the global market kept fluctuating from USD 16.93/kg in 2014 to USD 11.46/kg in 2018. China, Thailand, Vietnam, Indonesia, and India were the major beneficiaries in terms of export revenues in 2016.

According to the Regional Expert Consultation on Aquaculture Health Management in Asia- Pacific (RECAHM), the status of AHPND outbreak in the Mekhong river delta in 2015 was recorded at 2,318 ha for Penaeus monodon culture and 2,309 ha for L. vannamei culture. Similarly, the economic impact of the parasite EHP with in Vietnam, India, and Thailand, incurred the net loss of USD 32,000/ha over normal production economics, if shrimps are grown according to the planned harvest size.

Competitive Landscape

Major players operating in Asia-Pacific aquafeed market are Thai Union Group, Inve Aquaculture Inc. Growel Feeds Pvt Ltd. Moreover, BASF South East Asia Pte Ltd, Adisseo Asia Pacific Lte ltd are major players in the Asia-Pacific aquafeed additives market. In the Asia-Pacific aquafeed market, companies are more focused toward expansions, in order to gain a higher share in the market. Few companies are also involved in acquisition, and merger and partnerships, through which, companies aim at either entering the market or to boost their current operations. In the Asia-Pacific aquafeed additives market, companies are not only competing based on product quality and promotion, but are also focused on strategic moves to hold prominent market shares. Players are investing heavily to develop new products, and are collaborating and acquiring other companies, which is expected to increase their market shares and strengthen the R&D activities.

Reasons to Purchase this Report
  • Identify the current and future prospects of the market in the developed and emerging markets.
  • Analyze various perspectives of the market with the help of Porter’s five forces analysis.
  • Information about the growth of the various segments that are expected to dominate the market.
  • Identify the latest developments, market shares, and strategies employed by the major market players.
  • Three months’ analyst support, along with the Market Estimate sheet.
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • ADDCON Group
  • Avitech Nutrition
  • Bentoli
  • Elanco Animal Health Inc.
  • Growel Feeds Pvt. Ltd
  • Novozymes A/S
  • MORE
1. INTRODUCTION
1.1 Market Definition
1.2 Key Findings of the Study

2. RESEARCH SCOPE AND METHODOLOGY
2.1 Study Deliverables
2.2 Study Assumptions
2.3 Research Methodology
2.4 Analysis Methodology

3. MARKET OVERVIEW AND TECHNOLOGY TRENDS
3.1 Market Overview
3.1.1 Aquafeed Market Overview
3.1.2 Aquafeed Additive Market Overview
3.2 Regulatory Overview
3.2.1 India
3.2.2 Indonesia
3.2.3 Thailand
3.2.4 Vietnam
3.2.5 Philippines
3.3 Industry Value Chain Analysis
3.3.1 Aqua Feed Market Value Chain Analysis
3.3.2 Aqua Feed Additive Market Value Chain Analysis
3.4 Latest Technology Trends
3.4.1 New Species and Changes in Aquaculture Pattern
3.4.2 Technological Advancements in Feed and Feed Additives
3.4.3 Adoption of New Feed Ingredients

4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Increase in Fish Demand
4.1.2 Increase in Export-oriented Aquaculture
4.1.3 Increased Adoption of Scientific Aquaculture Management Practices
4.2 Restraints
4.2.1 Fluctuating Global Prices
4.2.2 Increasing Incidences of Disease Epidemics
4.3 Porter’s Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitutes
4.3.5 Competitive Rivalry

5. MARKET SEGMENTATION – AQUAFEED MARKET
5.1 India Aqua Feed Market
5.1.1 By Species
5.1.1.1 Litopenaeus vannamei
5.1.1.2 Penaeus monodon
5.1.1.3 Pangasius
5.1.1.4 Carp
5.1.1.5 Catfish
5.1.1.6 Tilapia
5.1.1.7 Other Species
5.2 Vietnam Aqua Feed Market
5.2.1 By Species
5.2.1.1 Litopenaeus vannamei
5.2.1.2 Penaeus monodon
5.2.1.3 Pangasius
5.2.1.4 Carp
5.2.1.5 Other Catfish
5.2.1.6 Tilapia
5.2.1.7 Other Species
5.3 Thailand Aqua Feed Market
5.3.1 By Species
5.3.1.1 Litopenaeus vannamei
5.3.1.2 Penaeus monodon
5.3.1.3 Carp
5.3.1.4 Catfish
5.3.1.5 Tilapia
5.3.1.6 Seabass (Barramundi)
5.3.1.7 Other Species
5.4 Indonesia Aqua Feed Market
5.4.1 By Species
5.4.1.1 Litopenaeus vannamei
5.4.1.2 Penaeus monodon
5.4.1.3 Pangasius
5.4.1.4 Carp
5.4.1.5 Other Catfish
5.4.1.6 Tilapia
5.4.1.7 Seabass (Barramundi)
5.4.1.8 Milkfish
5.4.1.9 Other Species
5.5 Philippines Aqua Feed Market
5.5.1 By Species
5.5.1.1 Litopenaeus vannamei
5.5.1.2 Penaeus monodon
5.5.1.3 Catfish
5.5.1.4 Tilapia
5.5.1.5 Milkfish
5.6.1.6 Other Species

6. MARKET SEGMENTATION - AQUA FEED ADDITIVE MARKET
6.1 India Aqua Feed Additive Market
6.1.1 By Additive Type
6.1.1.1 Antibiotics
6.1.1.2 Vitamins
6.1.1.3 Enzymes
6.1.1.4 Pigments
6.1.1.5 Amino Acids
6.1.1.6 Antioxidants
6.1.1.7 Acidifiers
6.1.1.8 Prebiotics
6.1.1.9 Probiotics
6.1.1.10 Minerals
6.1.1.11 Mycotoxin Detoxifiers
6.1.1.12 Other Additive Types
6.2 Vietnam Aqua Feed Additive Market
6.2.1 By Additive Type
6.2.1.1 Antibiotics
6.2.1.2 Vitamins
6.2.1.3 Enzymes
6.2.1.4 Pigments
6.2.1.5 Amino Acids
6.2.1.6 Antioxidants
6.2.1.7 Acidifiers
6.2.1.8 Prebiotics
6.2.1.9 Probiotics
6.2.1.10 Minerals
6.2.1.11 Mycotoxin Detoxifiers
6.2.1.12 Other Additive Types
6.3 Thailand Aqua Feed Additive Market
6.3.1 By Additive Type
6.3.1.1 Antibiotics
6.3.1.2 Vitamins
6.3.1.3 Enzymes
6.3.1.4 Pigments
6.3.1.5 Amino Acids
6.3.1.6 Antioxidants
6.3.1.7 Acidifiers
6.3.1.8 Prebiotics
6.3.1.9 Probiotics
6.3.1.10 Minerals
6.3.1.11 Mycotoxin Detoxifiers
6.3.1.12 Other Additive Types
6.4 Indonesia Aqua Feed Additive Market
6.4.1 By Additive Type
6.4.1.1 Antibiotics
6.4.1.2 Vitamins
6.4.1.3 Enzymes
6.4.1.4 Pigments
6.4.1.5 Amino Acids
6.4.1.6 Antioxidants
6.4.1.7 Acidifiers
6.4.1.8 Prebiotics
6.4.1.9 Probiotics
6.4.1.10 Minerals
6.4.1.11 Mycotoxin Detoxifiers
6.4.1.12 Other Additive Types
6.5 Philippines Aqua Feed Additive Market
6.5.1 By Additive Type
6.5.1.1 Antibiotics
6.5.1.2 Vitamins
6.5.1.3 Enzymes
6.5.1.4 Pigments
6.5.1.5 Amino Acids
6.5.1.6 Antioxidants
6.5.1.7 Acidifiers
6.5.1.8 Prebiotics
6.5.1.9 Probiotics
6.5.1.10 Minerals
6.5.1.11 Mycotoxin Detoxifiers
6.5.1.12 Other Additive Types

7. COMPETITIVE LANDSCAPE – ASIA-PACIFIC AQUAFEED MARKET
7.1 Most Adopted Strategies
7.2 Most Active Companies
7.3 Market Share Analysis

8. COMPETITIVE LANDSCAPE – ASIA-PACIFIC AQUAFEED ADDITIVE MARKET
8.1 Most Adopted Strategies
8.2 Most Active Companies
8.3 Market Share Analysis

9. COMPANY PROFILES – ASIA-PACIFIC AQUAFEED MARKET
9.1 Avanti Feeds Ltd
9.2 Godrej Agrovet Ltd
9.3 Growel Feeds Pvt. Ltd
9.4 The Waterbase Ltd
9.5 Grobest International
9.6 Thai Union Group
9.7 Inve Aquaculture Inc.
9.8 Charoen Popkhand Group
9.9 PT JAPFA Comfeed Indonesia Tbk
9.10 Pilmico Animal Nutrition Joint Stock Company
9.11 Greenfeed Vietnam
9.12 Masan Group
9.13 Vitarich Corporation
9.14 Santeh Feeds Corporation

10. COMPANY PROFILES – ASIAPACIFIC AQUAFEED ADDITIVE MARKET
10.1 Adisseo France SAS
10.2 BASF SE
10.3 Danisco A/S (Dow-DuPont Inc.)
10.4 Novozymes A/S
10.5 Alltech Inc.
10.6 Archer Daniels Midland Co.
10.7 Biovet JSC
10.8 Cargill Inc.
10.9 DSM Nutritional Products Inc.
10.10 Balchem
10.11 Kemin Industries Inc.
10.12 Qualitech Inc.
10.13 Nutreco NV
10.14 Phibro Animal Health Corp.
10.15 Beneo
10.16 Bentoli
10.17 Avitech Nutrition
10.18 ADDCON Group
10.19 Uniscope Inc.
10.20 Elanco Animal Health Inc.

11. APPENDIX
11.1 List of Figures
11.2 List of Tables
Note: Product cover images may vary from those shown
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  • Avanti Feeds Ltd
  • Godrej Agrovet Ltd
  • Growel Feeds Pvt. Ltd
  • The Waterbase Ltd
  • Grobest International
  • Thai Union Group
  • Inve Aquaculture Inc.
  • Charoen Popkhand Group
  • PT JAPFA Comfeed Indonesia Tbk
  • Pilmico Animal Nutrition Joint Stock Company
  • Greenfeed Vietnam
  • Masan Group
  • Vitarich Corporation
  • Santeh Feeds Corporation
  • Adisseo France SAS
  • BASF SE
  • Danisco A/S (Dow-DuPont Inc.)
  • Novozymes A/S
  • Alltech Inc.
  • Archer Daniels Midland Co.
  • Biovet JSC
  • Cargill Inc.
  • DSM Nutritional Products Inc.
  • Balchem
  • Kemin Industries Inc.
  • Qualitech Inc.
  • Nutreco NV
  • Phibro Animal Health Corp.
  • Beneo
  • Bentoli
  • Avitech Nutrition
  • ADDCON Group
  • Uniscope Inc.
  • Elanco Animal Health Inc.
Note: Product cover images may vary from those shown
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