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

 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 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.

The production of fish and aquaculture is rising globally as a result of rising population, disposable income, and urbanization in developing countries. An increasing number of people worldwide rely heavily on fisheries and aquaculture as their primary source of protein, health, and income. An important boost to worldwide aquacultural activities is being provided by the increase in seafood consumption and the seafood industry as a whole. This is helping to expand the global market for aquafeed and its supply.

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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