Aquafeed Market Overview:
Aquafeed is a mixture of raw materials, additives and other supplements, sourced from either natural or synthetic sources and are fed to the aquaculture. Aquafeed additives include amino acids, vitamins, minerals, enzymes, probiotics, antibiotics, flavors and colorants are the most common additives blended to form fish feed. Fish production in the world is mainly from both Aquaculture and Capture. Fish includes species like Tilapia, Catfish, Carp, and Salmon etc. The dwindling natural sources and other reasons have reduced the dependence on Captured Fisheries. Large part of fish production is used for human consumption directly and a small portion is used for feed purposes. The end consumers of Aquafeed are fish, molluscs, crustaceans etc. Tilapia is the most farmed fish, raised in 135 countries whereas Shrimp is the largest aquaculture commodity.
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Aquafeed Market Size:
According to Market Data Forecast, The Global Aquafeed Market Size was worth $120.68 Billion in 2018 and estimated to be growing at a CAGR of 10.60%, to reach $199.72 Billion by 2023.
Aquafeed is a mixture of raw materials, additives and other supplements, sourced from either natural or synthetic sources and are fed to the aquaculture.
Aquafeed Market Growth:
The growth of the Global Aquafeed Market is majorly driven by factors such as the growth in global fish consumption, increase in mass production of fish, growing consumer awareness regarding the protein content in the fish food, and limited availability of marine feed resources. Globally increasing population is also supporting growth of the fish market, ultimately increasing the demand for Aquafeed. However, environmental regulations on wild, marine and inland fisheries has made it difficult to procure important raw materials like fish meal, fish oil for feeds. Regulatory structure of the animal feeds industry which restricts the use of certain materials such as antibiotics and increasing costs of raw materials are the main factors hindering the growth of the market.
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Aquafeed Market Segmentation:
The Global Aquafeed Market is segmented based on End Use and Additives. Based on End Use, the Global Aquafeed Market is segmented into Fish, Mollusca, and Crustaceans. Fish is further sub segmented into Carp, Salmon, Tilapia, Catfish, and others. Mollusca is further sub segmented into Shrimp, Crab, and others. Crustaceans is further sub segmented into Oyster, Mussel, and others. Carp fish type has been observed to have the highest market share in Aquafeed market. This is due to their abundant availability and popularity as common carp fish types are tolerant to most water conditions. Based on Additives, the Global Aquafeed Market is segmented into Vitamins, Minerals, Antioxidants, Amino Acids, Enzymes, Acidifiers, Binders. Amino acids are an essential component of aquafeed with a market share of almost 21% in the total of aquafeed market in 2018.
The market has also been geographically segmented into North America, Europe, Asia-Pacific and the Rest of the World. North America accounted for the largest share in the Global Aquafeed Market, accounting for around 32% of the global market. Asia-Pacific aquaculture industry is the largest in the world comprising of more than one third of the global market.
Aquafeed Market Key players:
- Nutreco N.V
- AllerAqua A/S
- Beneo GmbH
- Biomar A/S
- Charoen Pokphand Foods Public Company Limited
- Coppens International B.V
Key Takeaways from this Report:
- For different product types, end-use applications and industry verticals, offers calculated growth rates (CAGR %), Volume (Units), and Value ($M) in each region to estimate the market potential.
- Identify various driving factors, constraints and untold opportunities that can impact the global marketplace
- Know the position of your competitor based on the market shares, financial performance, strategical approaches, SWOT, product benchmarking and so on.
- Increase overall revenue by understanding the geographical impact on sales and distribution channels.
- Evaluate the increase in values at each step of the industry supply chain to improve process efficacy and optimize the value.
- Understand the market dynamics of leading players like deals, partnerships, new products, mergers and acquisitions in the last four years.
- Estimate the gaps in supply-demand, statics involved in import-export, and regulatory framework of the worldwide market in over 20 top nations.
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