The value of the Aquafeed market is projected to grow to US$ 80.9 Billion with an estimated CAGR of 6.1% by 2032
.jpg "The Global Aquafeed Market 2022-2032 (USD Billion)")
Global Aquafeed market size is influenced by the increased demand for high quality sea-food for consumption. Aquafeed is prepared with detailed ingredients and additives that have high nutrition value even when given in small portions. The market is growing owing to limited resources for food for marine life. Furthermore, there is an increased demand of seafood in export markets that is influencing need of better Aquafeed. Due to this there are many companies that are producing Aquafeed. Aquafeed is taken from plant sources like canola oil, corn gluten meal, soy meal and sunflower protein concentrate.
Moreover, various government standards and rules regarding the use of insect protein in Aquafeed along with growing spending power will help the market growth. Various companies are trying to take part in the Aquafeed industry owing to future growth Aquafeed market trends. Industry experts predict high growth in the market owing to increased production with growth of fisheries in emerging economies. This would increase the demand of aqua food and resultant rise in Aquafeed.
The Aquafeed market trends indicate key ingredients to be fish meal and oil with around 35% mainly received from by-products of fish. China and Peru have strict rules and regulations with respect to process of catching fish, this might hamper the Global Aquafeed market size.
Aquafeed market analysis indicate impact on environmental and ecosystem, hence many companies are investing to find new Aquafeed formulations. This is done with an aim to provide similar nutrient digestibility. A research done by FAO indicates higher digestibility of Aquafeed causes minimum loss of nutrients and wastage due to Aquafeed. Owing to the various technological development and modern techniques has caused an increase in molluscs, salmon feed demand, and shrimp thus helping growth of marine industry. India is growing at a high rate with high aquafarming market share owing to its large coastal areas and support provided by government to fishery business. Growing shrimp and other fish farming has created job openings and have in-turn helped in growth of Global Aquafeed market size.
The Global Aquafeed market size is categorized on the basis of Product, Application and regions. Segmentation on the basis of product is done as Amino Acids, Antibiotics, Vitamins, and Feed Acidifiers. Segmentation on the basis of application is Carps, Mollusks, Crustaceans, Salmons, Tilapia, Catfish and Others. Mollusks and Crustaceans contribute the maximum share to the market. Based on region it is segmented as Europe, Asia Pacific, North America, and Rest of World (ROW). Asia-Pacific leads the market by contributing more than half of the market share.
Key players in the Global Aquafeed market size Ridley Corporation Limited, Archer Daniels Midland Company, Nutreco N.V, Cargill, Avanti Feeds Ltd., and many others, are some of the well-established names in the industry.
Aquafeed Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2032 |
| Study Period | 2018-2032 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2032 | US$ 80.9 Billion |
| Growth Rate | CAGR of 6.1% during 2022-2032 |
| Segment Covered | By Species, By Form, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Biomar, Alltech, DSM, BASF, Ridley, Evonik, Cargill Inc, Beneo GmbH, Novus International, and others |
Segmentation:
The various segments of Global Aquafeed market size are,
By Product:
- Amino Acids
- Antibiotics
- Vitamins
- Feed Acidifiers
- Others
By Application:
- Carps
- Mollusks
- Crustaceans
- Salmons
- Tilapia
- Catfish
- Others
By Region
- North America
- Europe
- Asia Pacific
- RoW
What to expect from the upcoming report on ‘Global Aquafeed market size’:
- Future prospects and current trends of the Global Aquafeed market size by the end of forecast period. (2017 – 2025).
- Information regarding technological progressions as well as innovations across the world
- Supportive initiatives by government likely to influence the market dynamics.
- In-depth analysis of different market segmentations including regional segmentations, applications and types.
- Deep analysis about the competitive landscape of the market and the initiatives by them to improve this market.
- Trends, drivers, opportunities, restraints, challenges and key developments in the market
Frequently Asked Questions (FAQ) :
The application of the aquafeed market Carps, Mollusks, Crustaceans, Salmons, Tilapia, Catfish and other.
The major players are Ridley Corporation Limited, Archer Daniels Midland Company, Nutreco N.V, Cargill, Avanti Feeds Ltd.
The base year for the report is 2023 in aquafeed market.