The Aquaculture Feed Global Market Report 2023 by The Business Research Company, provides aquaculture feed market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Aquaculture Feed Global Market Report 2023, the market size is expected to grow from $69.90 billion in 2022 to $76.52 billion in 2023 at a compound annual growth rate (CAGR) of 9.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global aquaculture feed market size is expected to reach $103.60 billion in 2027 at a CAGR of 7.9%.
The increasing demand for seafood is expected to propel the growth of the aquaculture feed market going forward. Seafood refers to aquatic creatures and fish that can be eaten by humans, such as fish, shrimp, and even octopuses. Seafood is harvested or farmed for human consumption and is a significant source of protein and nutrients. Aquaculture feed is one of the most effective ways to develop high-quality seafood for human consumption.
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The aquaculture feed market is segmented:
1) By Product Type: Pellets, Extruded, Powdered, Liquid
2) By Ingredient Type: Soybean, Corn, Fishmeal, Fish Oil, Additives, Other Ingredients
3) By Species Type: Carp, Marine Shrimps, Tilapias, Catfishes, Marine Fishes, Salmons, Freshwater (FW) Crustaceans, Trouts, Other Species
4) By Distribution Channel: Store Based, Online
5) By End User: Commercial, Household
Product innovations are a key trend gaining popularity in the aquaculture feed market. Major players operating in the aquaculture feed market are concentrating their efforts on innovating new products to sustain their position in the market. For instance, in December 2021, INVE Aquaculture, a Belgium-based aquaculture feed producer, launched Natura pRo and ExL feed lines, the first ever rotifier substitution diets. It allows hatcheries to reduce their rotifer requirements by more than half, enhancing fry quality and survival rates. It also give technical and nutritional support from the start of exogenous feeding until weaning. The Natura pRo formulation pays great attention to ingredient selection to provide excellent nutritional digestion and palatability, ensuring that the feed is appetising to larvae from the start of exogenous feeding.
The aquaculture feed market report table of contents includes:
1. Executive Summary
2. Aquaculture Feed Market Characteristics
3. Aquaculture Feed Market Trends And Strategies
4. Aquaculture Feed Market – Macro Economic Scenario
5. Aquaculture Feed Market Size And Growth
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26. Africa Aquaculture Feed Market
27. Aquaculture Feed Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Aquaculture Feed Market
29. Aquaculture Feed Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Alltech Inc
- The Archer-Daniels-Midland Company
- Cargill Inc
- Land O’Lakes Inc
- Nutreco N.V
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