The Aquafeed Global Market Report 2023 by The Business Research Company, provides aquafeed 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 Aquafeed Global Market Report 2023, the market size is expected to grow from $82.84 billion in 2022 to $91.86 billion in 2023 at a compound annual growth rate (CAGR) of 10.9%. 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 aquafeed market size is expected to grow to $123.83 billion in 2027 at a CAGR of 7.8%.
Increasing seafood consumption is expected to propel the growth of the aquafeed market. Aquaculture production plays an increasing role in satisfying the demand for human consumption of fishery products.
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The aquafeed market is segmented:
1) By Additives: Vitamins, Antioxidants, Amino Acids, Enzymes, Acidifiers, Binders
2) By Form: Dry Form, Wet Form, Moist Form
3) By Distribution Channel: Direct Sales, Indirect Sales, Hypermarket/supermarket, Wholesalers, Online, Other Distribution Channel
Technological advancement is a key trend gaining popularity in the aquafeed market. The companies operating in the aquafeed market are focusing on developing innovative products with better nutrition and improved feed conversion. In September 2022, Secma Cabon Solution Vide, a France-based equipment designing and constructing company, launched MultyWays, a unique aquafeed delivery system, The CleanPipe system, DosAir, and Multiways valves are the company’s patented inventions. The interaction of these three elements maximises output and profitability. While increasing yield and allowing for more frequent daily feedings, MultyWays also gives farmers more time to devote to other duties. Additionally, it lowers labour costs, restricts manual handling, and lessens accidents brought on by frequent feeding motions.
The aquafeed market report table of contents includes:
1. Executive Summary
2. Aquafeed Market Characteristics
3. Aquafeed Market Trends And Strategies
4. Aquafeed Market – Macro Economic Scenario
5. Aquafeed Market Size And Growth
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26. Africa Aquafeed Market
27. Aquafeed Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Aquafeed Market
29. Aquafeed Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Cargill Incorporated
- Archer Daniels Midland Company
- Alltech Inc
- Purina Animal Nutrition
- Ridley Corp Ltd
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