The new report by Expert Market Research titled, Global Aquaculture Feed Market Trends, Size, Share, Growth, Analysis, Report and Forecast 2023-2028, gives an in-depth analysis of the global aquaculture feed market, assessing the market based on its segments like species, ingredient type, additives, product form and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
Historical Market Volume (2022): 47.2 million tons
Forecast CAGR (2023-2028): 5.3%
Forecast Market Volume (2028): 64.2 million tons
The carp segment accounted for the largest share of the worldwide aquaculture feed market by species. Carp fish species are adaptable to a wide range of water conditions, and their demand for aquaculture feed is expected to rise in the coming years because of its widespread availability and appeal.
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The soybean segment is expected to lead the market in terms ingredient, followed by corn, fish meal, fish oil, additives, and others. Because soybean meal is less expensive than fishmeal, it is predicted to increase demand for the sector during the projection period. Vitamins and minerals had the biggest market share in 2020, followed by antioxidants, feed enzymes, and other additives.
The pellet segment is expected to have the largest market share based on product shape. In the year 2020, the Asia Pacific region led the market. The presence of prominent aquaculture producers, processors, and consumers is credited with the region’s success.
Aquaculture Feed Industry Definition and Major Segments
Aquaculture feed is defined as a professionally made food that meets the nutritional needs of aquatic animals. Plants, marine animals, grain products, terrestrial-based live feeds, vegetable protein, and fish oil are among the primary ingredients and additives used.
The feed provides a well-balanced diet, which is critical for raising healthy fish. It is also high in nutrients including protein, minerals, vitamins, carbohydrates, and lipids, which aid in aquatic animals’ growth and reproduction. Aquaculture plays a significant role in the aquaculture feed industry.
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On the basis of species, the global aquaculture feed market is segregated into:
- Marine Shrimps
- Marine Fishes
- Freshwater (FW) Crustaceans
Based on the ingredient type, the industry is divided into:
- Fish Meal
- Fish Oil
On the basis of additives, the market is divided into:
- Vitamins and Minerals
- Feed Enzymes
On the basis of product form segment into:
On the basis of regional markets
- North America
- The Asia Pacific
- Latin America
- The Middle East
Aquaculture Feed Market Trends
The increase in overall seafood consumption has recently bolstered aquaculture activities, which has resulted in the growth of the aquaculture feed industry. Furthermore, customers have grown more aware of the benefits of high-quality seafood products, which has had a favourable impact on the global supply of enhanced aquaculture feed.
The growing mass production of fish, combined with the restricted availability of marine feed resources, is likely to drive up demand for aquaculture feed in the coming years. Additionally, better aquaculture activities, as well as rising seafood demand, are likely to drive industry growth during the projection period.
For the development of aquaculture feed, manufacturers continue to use natural resources and sustainable raw materials, which is beneficial to both human and environmental health. The industry is predicted to increase significantly over the forecast years due to the aforementioned factors.
Key Market Players
The major players in the market are Archer Daniels Midland Company, Cargill, Ridley Corporation Limited, Nutreco N.V., Alltech., Others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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