Aquaculture Fertilizer Market Size, Share, Opportunities, And Trends By Source (Urea, Superphosphate, Potassium Chloride, Others), By Application (Seawater Aquaculture, Onshore Aquaculture), And By Geography - Forecasts From 2024 To 2029

The aquaculture fertilizer market is projected to witness a compound annual growth rate of 7.13% and reach US$31.627 million by 2029 from US$19.529 million in 2022.

Aquaculture fertilizers can be natural or synthetic substances used in ponds to increase the production of natural food organisms eaten by fish. These organisms include phytoplankton, zooplankton, and insects. Fertilizers enhance the abundance of essential nutrients, fostering the growth of planktonic algae, a vital food source for numerous fish species.    

In aquaculture ponds, potassium fertilization is typically unnecessary, making nitrogen and phosphorus the key nutrients for promoting growth. It may include secondary nutrients such as calcium, magnesium, and sulfur, which are commonly sourced from calcium and magnesium sulfates. Additionally, supplements of trace elements like iron, manganese, zinc, copper, and boron may be incorporated into fertilizers.

The aquaculture fertilizer market is primarily driven by the increasing demand for aquaculture products, rising awareness about the importance of balanced nutrition in aquaculture systems, and the need for sustainable aquaculture practices. The European seaweed market is expanding and is estimated to reach $24.92 billion in 2028. Seaweed's culinary uses are limitless, ranging from chips and spreads to dried condiments and even alcoholic beverages.

During the fiscal year 2022-23, India attained record-breaking seafood exports in volume and value, shipping 17,35,286 metric tons of seafood valued at US$8.09 billion. This achievement was made despite encountering numerous challenges in key export markets such as the USA.

Overall, the aquaculture fertilizer market presents promising growth driven by the increasing demand for seafood and the need to optimize aquaculture production.

Aquaculture Fertilizer Market Drivers:

• Growing demand from the seaweed industry

Seaweed farming stands out as the fastest-growing sector in aquaculture. However, the industry is still in its developmental phase. Seaweeds excel in efficiently absorbing carbon dioxide, utilizing it for growth. While eelgrass, mangroves, and salt marshes are recognized for their carbon storage capabilities, seaweeds surpass them in greenhouse gas absorption from water, considering their biomass. Moreover, seaweeds effectively absorb nitrogen and phosphorus, which is crucial for mitigating algal blooms that deplete oceanic oxygen upon decomposition.

The World Bank predicts the seaweed market will reach USD 11.8 billion by 2030. Ten relatively new and emerging seaweed applications offer substantial market opportunities beyond the established sectors of agar, alginate, carrageenan, food, and aquaculture feed.

• Growing demand for fish and seafood

Global population growth and increasing disposable income increase demand for fish and seafood.  Aquaculture, farming fish, and other aquatic organisms are crucial in meeting this demand. The U.S. Fish and Seafood Exports was $5.39 billion in 2022. In 2021, it was $5.27 billion. Aquaculture fertilizers enhance the productivity of aquaculture systems, allowing farmers to raise more fish sustainably.

• Awareness of balanced nutrition

Awareness of balanced nutrition is one of the main reasons for the demand for fertilizers. Fertilizers support the development of planktonic algae, which is a fish food.  Furthermore, it facilitates the emergence of animals that consume algae, including certain fish species like the Chinese silver carp and the Nile tilapia. In freshwater ponds, the most needed nutrient is usually phosphorus. However, adding some nitrogen will obtain a better result as well. Fertilizer manufacturers must provide the grade of their product by including its N–P–K (nitrogen– phosphorus–potassium) value on the label. Organic fertilizers, comprising a blend of organic material and mineral nutrients, are locally produced and often derived from sources such as farm animal waste or agricultural byproducts.

Underwater Lighting Market Restraint:

• Environmental concerns

The knowledge gap and lack of proper training lead to the excessive use of fertilizers. This improper application can lead to environmental problems. Excessive usage of fertilizers causes deplete oxygen levels in the water, harm aquatic ecosystems, and ultimately lead to water quality degradation. Excessive fertilizer use and stringent regulatory norms pose potential restraints to market growth.

Underwater Lighting Market Segment Analysis

• Aquaculture fertilizer market by application into seawater aquaculture and onshore aquaculture

The Aquaculture fertilizer market is segmented by application into seawater and onshore aquaculture. Seawater aquaculture, also known as saltwater aquaculture, encompasses fertilizers tailored for the rearing and harvesting of fish, shellfish, and aquatic plants. It contributes significantly to seafood supply and bolsters commercial fisheries. Onshore aquaculture utilizes fertilizers in ponds, tanks, or raceways with fresh water. Each segment possesses distinct nutrient contents and concentrations to meet specific requirements.

North America is anticipated to hold a significant share of the aquaculture fertilizer market

North America is anticipated to hold a significant share of the aquaculture fertilizer market. Aquaculture fertilizers can improve water quality and promote healthy ecosystems within fish farms. The U.S. has a robust market for fish and seafood production and exports.

The US Total Export Value was $5.17 Billion in 2023, with a 3-Year Average of $5.28 Billion. The total volume of exports was 1 Metric Ton Millions.  The largest export market was $1.04 Billion for China, $1.03 Billion for Canada, and $1.03 billion for the European Union in 2023. North America presents a promising market for aquaculture fertilizers due to the large aquaculture sector.

Underwater Lighting Market Developments:

• March 2023 - The Food and Agriculture Organization of the United Nations in Sri Lanka has delivered 36,000 tonnes of triple super phosphate fertilizer to the Ministry of Agriculture for immediate distribution to all farmers nationwide. This delivery was made possible through funding from the United States Agency for International Development.
• April 2022 – Agrimin signed a binding agreement for 50,000tpa with Gavilon Fertilizer, LLC, a prominent wholesale distributor of crop nutrients in the USA. Agrimin had then committed its minimum target of 70% of planned Sulphate of Potash (“SOP”) production under long-term binding offtakes to support project funding.

Underwater Lighting Market Players and Products:

• Nitrogenous fertilizer products - Sinofert Holdings Limited products offer a range of grades and prices. Besides premium-grade urea, which contains 46% nitrogen and less than 0.9% biuret, certified urea has 42% nitrogen content and less than 1.2% biuret at an affordable price.
• Bolifor® Aqua - It comprises fine granules of feed-grade monocalcium phosphate, boasting a phosphorus content of 22.3%. Primarily designed for aquaculture feed, it is highly recommended for this purpose.

 

• Calcomag - This product contains 1000 ppm of Selenium (Se) and 400 ppm of Cobalt (Co), 9.0% Calcium (Ca), 14.0% Magnesium (Mg), and 6.0% Potassium (K2O). It is available in a 50 kg pack.

Market Segmentation:

• By Source
  • Urea
  • Superphosphate
  • Potassium Chloride
  • Others
• By Application
  • Seawater Aquaculture
  • Onshore Aquaculture
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • UK
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Others

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1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

1.8. Key benefits to the stakeholder

2. RESEARCH METHODOLOGY

2.1. Research Design

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Key Findings

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

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 in the Industry

4.4. Industry Value Chain Analysis

4.5. Analyst View

5. AQUACULTURE FERTILIZER MARKET BY SOURCE

5.1. Introduction

5.2. Urea

5.2.1. Market opportunities and trends

5.2.2. Growth prospects

5.2.3. Geographic lucrativeness 

5.3. Superphosphate

5.3.1. Market opportunities and trends

5.3.2. Growth prospects

5.3.3. Geographic lucrativeness 

5.4. Potassium Chloride

5.4.1. Market opportunities and trends

5.4.2. Growth prospects

5.4.3. Geographic lucrativeness 

5.5. Others

5.5.1. Market opportunities and trends

5.5.2. Growth prospects

5.5.3. Geographic lucrativeness 

6. AQUACULTURE FERTILIZER MARKET BY APPLICATION

6.1. Introduction

6.2. Seawater Aquaculture

6.2.1. Market opportunities and trends

6.2.2. Growth prospects

6.2.3. Geographic lucrativeness 

6.3. Onshore Aquaculture

6.3.1. Market opportunities and trends

6.3.2. Growth prospects

6.3.3. Geographic lucrativeness 

7. AQUACULTURE FERTILIZER MARKET BY GEOGRAPHY

7.1. Introduction

7.2. North America

7.2.1. By Source

7.2.2. By Application

7.2.3. By Country

7.2.3.1. United States

7.2.3.1.1. Market Trends and Opportunities

7.2.3.1.2. Growth Prospects

7.2.3.2. Canada

7.2.3.2.1. Market Trends and Opportunities

7.2.3.2.2. Growth Prospects

7.2.3.3. Mexico

7.2.3.3.1. Market Trends and Opportunities

7.2.3.3.2. Growth Prospects

7.3. South America

7.3.1. By Source

7.3.2. By Application

7.3.3. By Country

7.3.3.1. Brazil

7.3.3.1.1. Market Trends and Opportunities

7.3.3.1.2. Growth Prospects

7.3.3.2. Argentina

7.3.3.2.1. Market Trends and Opportunities

7.3.3.2.2. Growth Prospects

7.3.3.3. Others

7.3.3.3.1. Market Trends and Opportunities

7.3.3.3.2. Growth Prospects

7.4. Europe

7.4.1. By Source

7.4.2. By Application

7.4.3. By Country

7.4.3.1. Germany

7.4.3.1.1. Market Trends and Opportunities

7.4.3.1.2. Growth Prospects

7.4.3.2. France

7.4.3.2.1. Market Trends and Opportunities

7.4.3.2.2. Growth Prospects

7.4.3.3. UK

7.4.3.3.1. Market Trends and Opportunities

7.4.3.3.2. Growth Prospects

7.4.3.4. Spain

7.4.3.4.1. Market Trends and Opportunities

7.4.3.4.2. Growth Prospects

7.4.3.5. Others

7.4.3.5.1. Market Trends and Opportunities

7.4.3.5.2. Growth Prospects

7.5. Middle East and Africa

7.5.1. By Source

7.5.2. By Application

7.5.3. By Country

7.5.3.1. Saudi Arabia

7.5.3.1.1. Market Trends and Opportunities

7.5.3.1.2. Growth Prospects

7.5.3.2. UAE

7.5.3.2.1. Market Trends and Opportunities

7.5.3.2.2. Growth Prospects

7.5.3.3. Israel

7.5.3.3.1. Market Trends and Opportunities

7.5.3.3.2. Growth Prospects  

7.5.3.4. Others

7.5.3.4.1. Market Trends and Opportunities

7.5.3.4.2. Growth Prospects

7.6. Asia Pacific

7.6.1. By Source

7.6.2. By Application

7.6.3. By Country

7.6.3.1. China

7.6.3.1.1. Market Trends and Opportunities

7.6.3.1.2. Growth Prospects

7.6.3.2. Japan

7.6.3.2.1. Market Trends and Opportunities

7.6.3.2.2. Growth Prospects

7.6.3.3. India

7.6.3.3.1. Market Trends and Opportunities

7.6.3.3.2. Growth Prospects

7.6.3.4. South Korea

7.6.3.4.1. Market Trends and Opportunities

7.6.3.4.2. Growth Prospects

7.6.3.5. Indonesia

7.6.3.5.1. Market Trends and Opportunities

7.6.3.5.2. Growth Prospects

7.6.3.6. Thailand

7.6.3.6.1. Market Trends and Opportunities

7.6.3.6.2. Growth Prospects

7.6.3.7. Others

7.6.3.7.1. Market Trends and Opportunities

7.6.3.7.2. Growth Prospects

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Market Share Analysis

8.3. Mergers, Acquisition, Agreements, and Collaborations

8.4. Competitive Dashboard

9. COMPANY PROFILES

9.1. Sinofert Holdings Limited

9.2. Luxi Chemical Group Co. Ltd. 

9.3. Yara International ASA 

9.4. Nutrien Limited

9.5. The Mosaic Company 

9.6. OCP S.A.

9.7. ICL Group Ltd. (Tel Aviv-Yafo, Israel)

9.8. Koch Industries, Inc. (Kansas, U.S.)

9.9. Aries Agro Limited

9.10. Finar Chemicals

Sinofert Holdings Limited

Luxi Chemical Group Co. Ltd. 

Yara International ASA 

Nutrien Limited

The Mosaic Company 

OCP S.A.

ICL Group Ltd. (Tel Aviv-Yafo, Israel)

Koch Industries, Inc. (Kansas, U.S.)

Aries Agro Limited

Finar Chemicals