An encapsulated formulation for food and bioactive agent delivery to aquatic animals includes various combinations of nutrients, a digestion enhancer, bioactive agents, and a local absorption enhancer. The bioactive agents and absorption enhancer may be encapsulated within a delay layer for targeted release at an area of the digestive tract distinct from the region of nutrient release. The bioactive agents and absorption enhancer may be coated with a sticky coating so that they tend to adhere to the inner surfaces of the wall of the digestive tract, thereby localizing their release and enhancing their effect. Instead of bioactive agents themselves, precursors may be delivered so as to generate the bioactive agents locally. The encapsulated precursors of a specific bioactive agent are separately contained in capsules which themselves can be adhesive to one another.