Growth Opportunities in the Aquafeed Market look promising over the next six years. This is mainly due to the growing seafood consumption, rising aquaculture production, and increasing seafood trade. Aquafeeds are rich in amino acids and protein, which offers healthy development to fish and reduces bacterial and fungal infections, thus driving the market growth.
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AQUAFEED MARKET Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The growing seafood consumption, rising aquaculture production, and increasing seafood trade are the key drivers contributing to the growth of the aquafeed market size. The need for food that is high in protein are rapidly increasing. Aquafeed protects against viral outbreaks like ammonia poisoning, fin rot, and fish dropsy, which are common fungal diseases and bacterial. This will propel the growth of the aquafeed market. According to the aquafeed market outlook, there has been an upsurge in demand for feed acidifiers and vitamin additives to hinder cross-contamination, and seafood-borne diseases, including salmonella, vibrio, and listeria, will boost the growth of the aquafeed market.
Aquafeeds are rich in amino acid, protein, and omega 3, which offers healthy development to fish and reduces the chances of bacterial and fungal infections. These drivers are supporting the growth of the market. Presently, individuals are becoming more aware of the health benefits regarding the consumption of fish or other aquaculture species, which has bolstered the demand for nutritional food.
Ingredient Segment Drivers
Based on the ingredient, the market is segmented into corn, soybean, fishmeal, additives, fish oil, and other ingredients. The soybean is projected to grow at a higher CAGR in the coming years due to the reduced price of soybean meal in comparison to fishmeal. Some of the standard soybean products like dehulled soybean extracted soybean meal, solvent-extracted soybean meal, and heat-processed full-fat soybean will further augment the market growth. Soy protein offers healthy growth and development to shellfish and farm-reared fish, which will further stimulate the growth of the market.
Additives Segment Drivers
Based on the additives, the market is segmented into vitamins & minerals, amino acids, prebiotics & probiotics, antibiotics, enzymes, antioxidants, and other additives. The amino acid is predicted to rise at a higher CAGR during the forecast period as amino acids enhance the overall production, growth, and maintenance of aquatic animals. They offer nutrition and are the building blocks of protein. Amino acids aids in offering energy for the development of blood circulation, bones, muscles, and digestion, will further accelerate the growth of the market.
Regional Drivers
Based on the region, Asia-Pacific is expected to increase at a faster CAGR in the coming years. China is one of the largest consumers, producer, and processor of aquaculture products as it has an increased contribution to the supply at a global level. Fish farming is easily done in this region owing to the factors that include the durability of species and good water quality within closed farm systems. The rising rate of fish farming offers ample supply to comply with the demand will fuel the demand for the market.
AQUAFEED MARKET’s leading Manufacturers:
- ADM
- Cargill, Incorporated
- Ridley Corporation Limited
- Nutreco
- Purina Animal Nutrition LLC
- Aller Aqua A/S
- BioMar
- Nutriad
- Biomin Holding GmbH
- Norel S.A
AQUAFEED MARKET Segmentation:
Segmentation by Ingredient:
- Soybean
- Soybean meal
- Soy oil
- Soy lecithin
- Corn
- Corn gluten meal
- Corn gluten feed
- Corn oil
- Fishmeal
- Fish oil
- Additives
- Other Ingredients
Segmentation by Additives:
- Antibiotics
- Vitamins & minerals
- Antioxidants
- Amino acids
- Enzymes
- Probiotics & prebiotics
- Other Additives
Segmentation by Species:
- Fish
- Tilapia
- Salmon
- Carp
- Trout
- Other Fish Species
- Crustaceans
- Shrimp
- Crabs
- Krill
- Other Crustaceans
- Mollusks
- Oysters
- Mussels
- Other Mollusks
- Other Species
Segmentation by Form:
- Dry Form
- Wet Form
- Moist Form
Segmentation by Lifecycle:
- Grower Feed
- Finisher Feed
- Starter Feed
- Brooder Feed
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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