APAC to Dominate Aquafeed Market During Forecast Period
Increasing seafood trade is expected to drive the growth of global aquafeed market.
According
to TechSci Research report, “Global Aquafeed Market
By Ingredient (Soybean, Fish Meal, Corn, Fish Oil, Additives, Others), By
Additives (Amino Acids, Vitamins & Minerals, Prebiotics & Probiotics,
Enzymes, Antibiotics, Other), By Species (Fish, Crustaceans, Molluscs, Other),
By Form (Dry Form, Wet Form, Moist Form), By Lifecycle (Grower feed, Finisher
feed, Starter feed, Brooder feed), By Region, Competition, Forecast &
Opportunities, 2025”, global aquafeed market is expected to witness significant
CAGR during the forecast period. Growth in aquaculture production is one of the major factors accounting for
the growth of global aquafeed market. Moreover, rise in global population
and increasing food demands are further expected to bode well for the growth of
global aquafeed market through the forecast period. In addition to this, rising
seafood consumption among consumers because of increasing requirement for
protein-rich diets., thereby projected to positively influence the growth of
global aquafeed market in the years to come. Also, rising consumer awareness pertaining
to the quality of seafood products is further making headway for the growth of
global aquafeed market. Some of the challenges that are anticipated to hamper
the aquafeeds market in the years to come are increasing raw material costs and
restrictions on fish catches, which is affecting fish meal production.
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market data Tables and XX Figures spread through XX Pages and an in-depth TOC on " Global Aquafeed Market
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Global
aquafeed market can be segmented based on ingredients,
additives, species, form, lifecycle, and region. Based on species, the
market can be categorized into fish, crustaceans, mollusks, and others. Out of
which, the fish segment dominated the market until 2019 and is expected to
maintain its dominance during the forecast period as well on account of increase
in fish farming activities and aquaculture which in turn has led to the
increased demand for fish feed. Among fish, carp and tilapia are high consumers
of aquafeed owing to their adaptability to changing climates. Also, the mollusks
were the second largest species segment of aquafeed until 2019 as several
mollusks like clams and oysters are an important source of food to humans. Additionally,
the oyster shell extracts are being increasingly used in cosmetics, thereby
anticipated to propel the growth of segment in the years to come. Along with
this, growing meat consumption at a global level has led to a growing demand
for clams and oysters, thereby aiding the segmental growth.
Archer Daniels Midland Company, Ridley
Corporation Limited, DE Heus Animal Nutrition B.V., Biostadt India Limited, NK
Ingredients Pte Ltd., Marubeni Nisshin Feed Co., Ltd., Cargill, Inc, Nutreco
N.V, Avanti Feeds Ltd, Charoen Pokphand Foods Public Company Limited are
among others are the leading players operating in global aquafeed market. The
leading players are adopting several growth strategies to enhance the market
scenario of aquafeed. Other competitive strategies include new technological
developments; mergers & acquisitions; agreements, partnerships, and
collaborations; and expansions to diverse their product portfolio in order to
strengthen their market position.
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“Asia Pacific is expected to dominate the global aquafeed market in the
next five years on account of high growth in the aquaculture industry which can
be attributed to certain factors such as ease of availability of natural
resources and cheap labor. Furthermore, China is the leading producer,
consumer, and processor of aquaculture products, which is further anticipated
to boost the market growth for aquafeed over the coming years as the country contributes
about one-third of the global supply. Along with this, induced conditions for
aquaculture in the region is expected to contribute to the growing trend in the
upcoming years.”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global Aquafeed Market By Ingredient (Soybean, Fish
Meal, Corn, Fish Oil, Additives, Others), By Additives (Amino Acids, Vitamins
& Minerals, Prebiotics & Probiotics, Enzymes, Antibiotics, Other), By
Species (Fish, Crustaceans, Molluscs, Other), By Form (Dry Form, Wet Form,
Moist Form), By Lifecycle (Grower Feed, Finisher Feed, Starter Feed, Brooder
Feed), By Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of global aquafeed
market and provides statistics & information on market size, structure and
market growth future. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global aquafeed market.
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