Increasing seafood trade is expected to drive the growth of the global aquafeed market. According to TechSci Research report, “Global Aquafeed Market By Ingredient (Soybean, Fish Meal, Corn, Fish Oil, Additives, Others), By Additives (Amino Acids, Vitamins & Minerals, Prebiotics & Probiotics, Enzymes, Antibiotics, Other), By Species (Fish, Crustaceans, Molluscs, Other), By Form (Dry Form, Wet Form, Moist Form), By Lifecycle (Grower feed, Finisher feed, Starter feed, Brooder feed), By Region, Competition, Forecast & Opportunities, 2025”, global aquafeed market is expected to witness significant CAGR during the forecast period. Growth in aquaculture production is one of the major factors accounting for the growth of the global aquafeed market.
The Important Elements of Global Aquafeed Market Forecast
the rise in global population and increasing food demands are further expected to bode well for the growth of the global aquafeed market through the forecast period. In addition to this, rising seafood consumption among consumers because of increasing requirements for protein-rich diets., thereby projected to positively influence the growth of the global aquafeed market in the years to come. Also, rising consumer awareness pertaining to the quality of seafood products is further making headway in the growth of the global aquafeed market. Some of the challenges that are anticipated to hamper the aquafeed market in the years to come are increasing raw material costs and restrictions on fish catches, which are affecting fish meal production.
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The global aquafeed market can be segmented based on ingredients, additives, species, form, lifecycle, and region. Based on species, the market can be categorized into fish, crustaceans, mollusks, and others. Out of which, the fish segment dominated the market until 2019 and is expected to maintain its dominance during the forecast period as well on account of the increase in fish farming activities and aquaculture which in turn has led to the increased demand for fish feed. Among fish, carp and tilapia are high consumers of aquafeed owing to their adaptability to changing climates. Also, the mollusks were the second largest species segment of aquafeed until 2019 as several mollusks like clams and oysters are an important source of food for humans. Additionally, oyster shell extracts are being increasingly used in cosmetics, thereby anticipated to propel the growth of the segment in the years to come. Along with this, growing meat consumption at a global level has led to a growing demand for clams and oysters, thereby aiding segmental growth.
The Major competitors of Global Aquafeed Market Forecast
- Archer Daniels Midland Company
- Ridley Corporation Limited
- DE Heus Animal Nutrition B.V.
- Biostadt India Limited
- NK Ingredients Pte Ltd.
- Marubeni Nisshin Feed Co., Ltd.
- Cargill, Inc
- Nutreco N.V
- Avanti Feeds Ltd
- Charoen Pokphand Foods Public Company Limited is among others the leading player operating in the global aquafeed market. The leading players are adopting several growth strategies to enhance the market scenario of aquafeed. Other competitive strategies include new technological developments; mergers & acquisitions; agreements, partnerships, and collaborations; and expansions to diversify their product portfolio to strengthen their market position.
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“Asia Pacific is expected to dominate the global aquafeed market in the next five years on account of high growth in the aquaculture industry which can be attributed to certain factors such as ease of availability of natural resources and cheap labor. Furthermore, China is the leading producer, consumer, and processor of aquaculture products, which is further anticipated to boost the market growth for aquafeed over the coming years as the country contributes about one-third of the global supply. Along with this, induced conditions for aquaculture in the region are expected to contribute to the growing trend in the upcoming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Global Aquafeed Market By Ingredient (Soybean, Fish Meal, Corn, Fish Oil, Additives, Others), By Additives (Amino Acids, Vitamins & Minerals, Prebiotics & Probiotics, Enzymes, Antibiotics, Other), By Species (Fish, Crustaceans, Molluscs, Other), By Form (Dry Form, Wet Form, Moist Form), By Lifecycle (Grower Feed, Finisher Feed, Starter Feed, Brooder Feed), By Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of the global aquafeed market and provides statistics & information on market size, structure, and market growth future. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global aquafeed market.
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