Egypt Aquaculture Additives Market Outlook (2018 to 2032)
Synopsis
The above chart is Egypt Aquaculture Additives Market Outlook (2018 to 2032)
Market Dynamics
egypt's aquaculture additives market is an emerging sector, with potential for producing variety of food. aquaculture additives are the key agents commonly used in the fish and shrimp industry. they help reduce the mortality rate of the species and increase production and profitability of the aquaculture industry. compound feed and dietary supplements, including vitamins, enzymes, colourants, minerals, additives, essential oils, and feeds are being used extensively to improve the health, nutraceutical qualities, and growth-promoting effects in fish and shrimps.
the egyptian aquaculture additives market is estimated to witness robust growth owing to its wide range of products used for nutritional requirements of fish. in addition, the government's initiatives in favour of the agricultural and aquaculture sector is the major driving factor for the market growth. furthermore, initiatives such as the agricultural startup and the project of fisheries development have been undertaken to boost the aquaculture sector in egypt.
apart from this, rising environmental stress, the changing climatic conditions, and increasing water quality and availability are likely to support the growth of aquaculture additives market. however, increasing cost of production and concerns towards the health hazards caused by certain artificially added additives may hinder the industry's growth. the increasing availability of organic aquaculture products is expected to provide lucrative opportunities for growth in the aquaculture industry.
the various players operating in the egypt aquaculture additives market include clextral egypt, skretting, phibro animal health corporation, alltech egypt, gland nutrition, kingfisher plc, among others. these players are involved in research and development activities to offer more efficient products for aquaculture industry. they are also focusing on strategic acquisitions and partnerships to enter in the global market.
in conclusion, with a steady growth in the demand for seafood, the egypt aquaculture industry is expected to progress in coming years. rising consumer inclination towards healthy food and rising importance of aquaculture products in meeting nutritional requirement is expected to foster the aquaculture additives market in the country. the presence of key players and their continuous efforts to deliver quality products serve as the major opportunities for the market.