Aquafeed Market is expected to expand at a CAGR of 5.6% during the forecast period of 2022-2030

 

The global aquafeed market size is expected to expand at a CAGR of 5.6% during the forecast period of 2022-2030.

Depending on the age of the animal and the species' needs, aquafeeds are compounded meals made for aquatic animals by combining different additives, raw materials, and other supplements from either synthetic or natural sources. Due to their need-specific and balanced composition, high-quality aquafeeds benefit a variety of aquatic species more than farm-made feed, including immune resistance, growth, and nutrition.

 

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GROWTH DRIVERS

Factors like the sharp increase in direct seafood consumption brought on by consumers' growing desire for diets high in protein, the expansion of the seafood trade and aquaculture production globally, the rising demand for aquatic animal byproducts in feed applications, particularly in developing economies, the rising number of technological advances in feed formulation, and the rising consumer awareness of quality are all contributing to this trend.

Globally, there is a sharp increase in the intake of seafood, largely because people are becoming more aware of the potential health advantages of fish and other aquaculture species. Fishes are great sources of proteins, vitamins, minerals, amino acids, and necessary fats that support a diet high in nutrients and have a lower fat content than other meats. The production of fish and aquaculture is increasing globally as a result of rising population, disposable incomes, and fast urbanisation in developing countries.

An important section of the global population is increasingly depending on fisheries and aquaculture for their protein, health, and livelihood. The global aquacultural activities are receiving a big boost from this increase in seafood consumption and the seafood industry as a whole, helping to expand the supply and the global market for aquafeed.

 

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The emergence of new species in aquaculture, the expansion of the aquaculture industry, the availability of large arable landmasses for the cultivation of the primary ingredients used in the production of aquafeed, and the restricted accessibility of marine feed resources are additional factors that are anticipated to contribute to the growth of the global aquafeed market over the course of the forecast period.

AQUAFEED MARKET SEGMENTATION

By Species

·         Fish

·         Crustaceans

·         Mollusks

·         Others

 

By Form

·         Dry

·         Wet

·         Moist

·         Others

 

By Feed Type

·         Starter Feed

·         Grower Feed

·         Finisher Feed

·         Brooder Feed

 

By Ingredient

·         Soybean

·         Corn

·         Fishmeal

·         Fish oil

·         Additives

o   Amino Acids

o   Antibiotics

o   Antioxidants

o   Enzymes

o   Vitamins

o   Feed Acidifiers

o   Anti-parasitics

o   Others

·         Others

 

By Region

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

 

KEY COMPANIES IN AQUAFEED MARKET

·         Archer Daniels Midland Company

·         Cargill Incorporated

·         Alltech

·         Purina Animal Nutrition

·         Nutreco N.V.

·         Ridley Corporation Ltd.

·         Avanti Feeds Limited

·         Biostadt India Limited

·         Nutriad

·         Aller Aqua A/S

·         Beneo GmbH

·         Cermaq

·         Norel Animal Nutrition

·         Biomin Holding GmbH

·         BioMar A/S

·         Charoen Pokphand Foods PCL

·         Other Players

 

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xResearch is a market research and consulting organization that uses unique data, expert analysis, and new technologies to create trusted intelligence on industries. Our research is focused on delivering an informed and impartial view on essential market data of industry, and it is primarily driven by an in-depth study covering the following parameters: Market Sizing and Forecasting, Market Segmentation, Competitive Analysis, Strategic Assessment and Business Modelling.

                                                                             

                                                                             

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