A lot of fish in the fish farm. Feeding freshwater fish raised in the ponds and then sold commercially to the markets
The Aquaculture Feed by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Aquaculture Feed, The aquaculture feed market size has grown strongly in recent years. It will grow from $59.14 billion in 2023 to $64.11 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to increase in seafood consumption, research and development initiatives, regulatory support, economic viability of aquaculture, globalization of aquaculture operations.
The aquaculture feed market size is expected to see strong growth in the next few years. It will grow to $86.19 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to sustainable aquaculture practices, alternative protein sources, climate change adaptation, health and disease management, e-commerce and supply chain optimization. Major trends in the forecast period include sustainable and alternative protein sources, functional feeds for health and performance, precision feeding and technology integration, customized and specialty feeds, aquafeed innovation for niche species
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. For instance, in July 2022, according to the Organization for Economic Cooperation and Development (OECD), a US-based intergovernmental organization, 90% of fish production is anticipated to be used as food by 2029. Fish for human consumption is expected to increase by 16.3%, or an additional 25 Mt, to 180 Mt by 2029 on a global scale. Therefore, the demand for seafood and frozen seafood of high quality is driving the aquaculture feed market.
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The aquaculture feed market covered in this report is segmented –
1) By Product Type: Pellets, Extruded, Powdered, Liquid
2) By Ingredient Type: Soybean, Corn, Fishmeal, Fish Oil, Additives, Other Ingedients
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 gives 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. Global Aquaculture Feed Market Size and Growth
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26. South America Aquaculture Feed Market
27. Brazil Aquaculture Feed Market
28. Middle East Aquaculture Feed Market
29. Africa Aquaculture Feed Market
30. Aquaculture Feed Market Competitive Landscape And Company Profiles
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