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Aquafeed Market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2022-2030

Published Date: December, 2022
No of Pages: 164
Delivery Format: PDF+ Excel

$2,950.00

Aquafeed Market
1. Aquafeed Market: Size, Share, Trends, Growth, and Forecast
Aquafeed is a specialized type of animal feed that is specifically formulated for aquatic animals such as fish, shrimp, and crabs. Aquafeed is made up of a variety of ingredients including plant proteins, animal proteins, vitamins, minerals, and other additives. Aquafeed is manufactured in a variety of formulations to meet the specific needs of different species of aquatic animals.

The global aquafeed market is expected to grow at a CAGR of 5.5% from 2018 to 2025. The market is driven by the growing demand for fish and shrimp as a source of protein, the rise in aquaculture production, and the need to improve the quality and yield of fish and shrimp.

The major players in the aquafeed market are Cargill, Inc., Alltech, Inc., Ridley Corporation Ltd., Kemin Industries, Inc., and Charoen Pokphand Foods Public Company Limited.

The global aquafeed market is segmented by type, ingredient, and geography.

On the basis of type, the market is segmented into fish meal, plant protein, and others.

On the basis of ingredient, the market is segmented into fish oil, soybean meal, corn gluten meal, wheat gluten meal, and others.

On the basis of geography, the market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

The Asia Pacific region is the largest market for aquafeed and is expected to grow at the highest CAGR during the forecast period. The growing demand for fish and shrimp as a source of protein, the rise in aquaculture production, and the need to improve the quality and yield of fish and shrimp are the major factors driving the growth of the aquafeed market in the Asia Pacific region.

The North American region is the second-largest market for aquafeed and is expected to grow at a moderate CAGR during the forecast period. The growing demand for fish and shrimp as a source of protein, the rise in aquaculture production, and the need to improve the quality and yield of fish and shrimp are the major factors driving the growth of the

2. Aquafeed Market: The Key Players
The aquafeed market is expected to grow at a CAGR of around 6% during the forecast period of 2020-2025. The major factors driving the growth of the aquafeed market are the increasing demand for fish and shrimp and the growing aquaculture industry.

The key players in the aquafeed market are Cargill, Inc. (US), Charoen Pokphand Foods Public Company Limited (Thailand), Alltech, Inc. (US), BioMar A/S (Denmark), Ewos Group (Norway), Skretting (Norway), Norel S.A. (Spain), Nutreco N.V. (Netherlands), and Marubeni Corporation (Japan).

These players are focusing on various growth strategies such as expansions, new product launches, partnerships, and acquisitions to stay competitive in the market. For instance, in January 2020, Cargill completed the expansion of its aquaculture feed facility in Brazil with an investment of around USD 30 million. This expansion has helped the company to double its capacity to produce fish feed in the country.

The aquafeed market is highly competitive with the presence of a large number of players. The key players in the market are focusing on strategies such as expansions, new product launches, partnerships, and acquisitions to stay competitive in the market.

3. Aquafeed Market: The Key Trends
The global aquafeed market is forecast to grow at a CAGR of around 6% during 2019-2024, driven by the increasing demand for fish & shrimp as a source of animal protein, coupled with the growing aquaculture industry.

The demand for fish & shrimp as a source of animal protein is on the rise, globally, due to the growing awareness of the health benefits associated with their consumption. This, in turn, is resulting in the increased demand for aquafeed.

The aquaculture industry is growing rapidly, due to the dwindling wild fish stocks, which is another major factor driving the demand for aquafeed.

The key trends observed in the global aquafeed market are as follows:

1. The increasing demand for quality fish & shrimp as a source of animal protein is driving the growth of the aquafeed market.

2. The aquaculture industry is growing rapidly, due to the dwindling wild fish stocks, which is another major factor driving the demand for aquafeed.

3. The rising awareness of the health benefits associated with the consumption of fish & shrimp is another major trend fuelling the growth of the aquafeed market.

4. The increasing focus on the development of innovative and cost-effective aquafeeds is another key trend driving the growth of the aquafeed market.

5. The increasing adoption of organic aquafeeds is another major trend observed in the global aquafeed market.

4. Aquafeed Market: The Future Outlook
According to a new market research report published by Transparency Market Research “Aquafeed Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019,” the global aquafeed market was valued at USD 132.3 billion in 2012 and is expected to grow at a CAGR of 7.8% from 2013 to 2019, to reach an estimated value of USD 208.1 billion by 2019. The report segments theaquafeed market on the basis of ingredients, fish type, Additives and geography.

Ingredients:

The aquafeed market is segmented on the basis of ingredients into cereals and oilseeds, fish meal, fish oil, Additives, vitamins and minerals. The cereals and oilseeds segment was the largest contributor to the aquafeed market in 2012. The high demand for cereals and oilseeds in aquaculture is due to the fact that they are a rich source of carbohydrates, proteins, essential lipids, vitamins and minerals. Also, cereals and oilseeds are relatively cheaper as compared to other ingredients used in aquafeed.

Fish Type:

The aquafeed market is segmented on the basis of fish type into carp, salmon, tilapia, catfish, sea bass and others. Carp, salmon and tilapia are the major fish types that are farmed globally. The demand for aquafeed is high in these fish types as they have a high growth rate and are known to be disease resistant.

Additives:

The aquafeed market is segmented on the basis of Additives into enzymes, probiotics, prebiotics, antibiotics, carotenoids, and others. The enzymes segment is further sub-segmented into phytase, xylanase, amylase, protease and lipase. Probiotics and prebiotics are the most widely used Additives in the aquafeed market as they help in improving the health of fish and also help in the digestion of feed.

Vitamins and Minerals:

The aquafeed market is segmented on the basis of vitamins and minerals into

LIST OF KEY COMPANIES PROFILED:

    • Cargill Incorporated  (Minnesota, U.S.)
    • Archer Daniels Midland Company (Illinois, U.S.)
    • Alltech Inc., (U.S.)
    • Purina Animal Nutrition (Missouri, U.S.)
    • Ridley Corp Ltd (Australia)
    • Nutreco N.V. (Amersfoort, Netherlands)
    • Aller Aqua A/S (Christiansfeld, Denmark)
    • BioMar A/S (Denmark)
    • Dibaq Aquaculture (Spain)
    • Beneo GmbH (Germany)

Report Scope & Segmentation

 

  ATTRIBUTE

 

 

DETAILS

 

 

Study Period

 

 

2017-2028

 

 

Base Year

 

 

2020

 

 

Estimated Year

 

 

2021

 

 

Forecast Period

 

 

2021-2028

 

 

Historical Period

 

 

2017-2019

 

 

Unit

 

 

Value (USD Billion)

 

 

By Type

 

 

    • Fish
        • Carps

       

        • Tilapias

       

        • Catfish

       

        • Salmons

       

        • Others

       

    • Crustaceans
    • Mollusks
    • Others
 

By Ingredient

 

    • Soybean
    • Fishmeal
    • Fish Oil
    • Corn
    • Additives
    • Others
 

By Form

 

 

    • Dry
    • Wet
 

By Region

 

 

    • North America (By Type, Ingredient, Form, and By Country)
        • U.S. (By Ingredients)

       

        • Canada (By Ingredients)

       

        • Mexico (By Ingredients)

       

       

    • Europe (By Type, Ingredient, Form, and By Country)
        • Norway (By Ingredients)

       

        • Spain (By Ingredients)

       

        • U.K. (By Ingredients)

       

        • France (By Ingredients)

       

        • Italy (By Ingredients)

       

        • Greece (By Ingredients)

       

        • Rest of Europe (By Ingredients)

       

    • Asia Pacific (By Type, Ingredient, Form, and By Country)
        • China (By Ingredients)

       

        • India (By Ingredients)

       

        • Japan (By Ingredients)

       

        • Australia (By Ingredients)

       

        • Indonesia (By Ingredients)

       

        • Thailand (By Ingredients)

       

        • Rest of Asia Pacific (By Ingredients)

       

    • South America (By Type, Ingredient, Form, and By Country)
        • Chile (By Ingredients)

       

        • Brazil (By Ingredients)

       

        • Argentina (By Ingredients)

       

        • Rest of South America (By Ingredients)

       

    • The Middle East and Africa (By Type, Ingredient, Form, and By Country)
        • South Africa (By Ingredients)

       

        • U.A.E (By Ingredients)

       

        • Rest of ME&A (By Ingredients)

       

 

By Type

 

 

    • Fish
        • Carps

       

        • Tilapias

       

        • Catfish

       

        • Salmons

       

        • Others

       

    • Crustaceans
    • Mollusks
    • Others
 

By Ingredient

 

    • Soybean
    • Fishmeal
    • Fish Oil
    • Corn
    • Additives
    • Others
 

By Form

 

 

    • Dry
    • Wet
    • Cargill Incorporated  (Minnesota, U.S.)
    • Archer Daniels Midland Company (Illinois, U.S.)
    • Alltech Inc., (U.S.)
    • Purina Animal Nutrition (Missouri, U.S.)
    • Ridley Corp Ltd (Australia)
    • Nutreco N.V. (Amersfoort, Netherlands)
    • Aller Aqua A/S (Christiansfeld, Denmark)
    • BioMar A/S (Denmark)
    • Dibaq Aquaculture (Spain)
    • Beneo GmbH (Germany)

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