Aquafeed Market Size is estimated to grow at a CAGR of 5.6% during the forecast period

 

The size of the worldwide aquafeed market is anticipated to increase at a compound annual growth rate (CAGR) of 5.6% between 2022 and 2030.

Depending on the age of the animal and the needs of the species, different additives, raw materials, and other supplements obtained from either synthetic or natural sources are combined to create aquafeeds, which are compounded meals designed for aquatic animals. Because of their need-specific and balanced composition, high-quality aquafeeds are more beneficial to a variety of aquatic species than farm-made feed, providing immunological resistance, growth, and nutrition.

 

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GROWTH DRIVERS

The global aquafeed market is expanding due to a number of factors, including the rapidly rising direct seafood consumption caused by consumers' growing need for diets high in protein, the expanding seafood trade and aquaculture production across different parts of the world, the rising demand for aquatic animal by-products in feed applications, particularly in developing economies, the growing number of technological advancements in feed formulation, and the growing consumer awareness regarding the quality of seafood products.

Globally, there has been a sharp increase in the consumption of seafood, primarily as a result of growing public knowledge of the possible health advantages of fish and other aquaculture species. In comparison to other meats, fish are low in fat and high in proteins, vitamins, minerals, amino acids, and vital lipids that support a nutrient-dense diet. The production of fish and aquaculture is rising globally as a result of rising population, disposable income, and urbanization in developing countries.

Additionally, other factors that are anticipated to contribute to the growth of the global aquafeed market during the forecast period include the introduction of new species into aquaculture, the rise in fish farming, the expansion of the aquaculture industry, the availability of large arable land for the cultivation of the primary ingredients used in the production of aquafeed, and the restricted accessibility of marine feed resources.

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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