Market Challenges And Opportunities
Global Fish feed additive and shrimp feed additive Market: Restraints
- The increasing use of antibiotics in aquaculture due to the growing prevalence of bacterial disease is projected to restrict market growth. The governments of developed countries are taking measures to ban the export and import of fish and shrimp from countries that use antibiotics in fish farms. For instance, the EU has returned more than 30 containers of shrimp exported from India due to the presence of antibiotics. Similarly, the US FDA also rejected shrimp shipments from the country due to the presence of dangerous levels of antibiotics.
- An outbreak of disease across major markets is disrupting the production and supply of seafood. For example, in China, shrimp production decreased owing to an outbreak of diseases caused by as a typhoon in 2017, which flooded shrimp farms in the country, thereby pushing it to import shrimp. This factor is projected to hamper market growth to some extent.
Market Opportunity:
- Growing demand for feed additives and feed premix manufacturers with nutrients is creating lucrative growth opportunities for manufacturers in Global Fish feed additive and shrimp feed additive market.
- China has emerged as a lucrative market for business expansion. Moreover, shrimp farming in the country is gaining popularity due to the increased demand for feed supplements. The availability of insect protein, which is highly digestible compared to animal protein, is again fueling market expansion.
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