USD 76505.48 million
Global Aqua Feed Market Size, Share, Growth Analysis, By Form(Dry, Wet), By Ingredients(Soybean, Fishmeal), By Type(Fish (Carps, Tilapias) - Industry Forecast 2024-2031
Report ID:
SQMIG30C2136 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|
Tables:
97 |
Figures:
76
Global Aqua Feed Market Insights
Aqua Feed Market size was valued at USD 76505.48 million in 2019 and is poised to grow from USD 80789.79 million in 2023 to USD 131926.4 million by 2031, growing at a CAGR of 5.6% in the forecast period (2024-2031).
Growth prospects in the aquafeed industry are strong because of the increasing demand for products that include useful components. In addition, rising worldwide fish consumption is expected to boost seafood commerce, which in turn would propel the global market. The government has launched several programs and policies to incentivize farmers to use high-quality feed. To keep the "Blue Revolution Scheme" going in the fiscal year 2020-21, the Indian government, for example, set out US$ 73.84 million. Marine fisheries, maricultural, and aquaculture are only some of the fisheries that are actively being developed as part of this program.
US Aqua Feed Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Fish
Fastest Growth
Fish
Growth Rate
5.6% CAGR
Global Aqua Feed Market ($ Bn)
Country Share for Asia Pacific Region (%)
Global Aqua Feed Market By Type ($ Bn)
Global Aqua Feed Market By Type (%)
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Global Aqua Feed Market Segmental Analysis
The global aqua feed market is segmented based on type, form, ingredients, and region. Based on type, the Aqua Feed Market is segmented into fish (carp, tilapias, catfish, salmons, and others), crustaceans, mollusks, and others. Based on form, the Aqua Feed Market is segmented into dry and wet. Based on ingredients, the Aqua Feed Market is segmented into soybean, fishmeal, fish oil, maize, vitamins & minerals, and other additives. Based on region, the global Aqua Feed market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Aqua Feed Market Analysis by Type
In 2021, the aquafeed market was dominated by the fish sector and is expected to do so during the forecast period. Sales of fish feed are anticipated to increase as a result of the dramatic rise in fish farming that is being undertaken to close the gap between total fish demand and supply. A high-quality fish feed is an excellent approach to help maintain a thriving fish colony and the food supply network. This may increase the demand for fish food in the upcoming years. Aqua feed consumption is high among many fish species, particularly tilapia and carp. Carps are highly utilized not only as a food source but also in the rice cultivation industries due to their high protein content. Therefore, carp may see a rise in popularity in the coming years, which could boost their market price. These factors will propel the aqua feed market growth during the analysis period.
The mollusk sector is the world's second-largest market for aqua feed. Oyster production has increased as demand has grown for these shellfish as a source of human nutrition, and mollusk farmers are expected to increase their demand for aqua feed during the analysis period.
Aqua Feed Market Analysis by Ingredients
In 2021, the soybean segment had the largest market share in the aqua feed market ingredients used for its production as in comparison to other sources of protein and Omega-3 fatty acids, soybeans are both useful and inexpensive. As a result, it's a common ingredient in feeds designed to promote healthy development in fish and other aquatic organisms. Soybean cake and soybean meal are becoming increasingly popular ingredients in organic animal feed, which is expected to increase the demand for soybeans during the forecast period. The additive segment is expected to grow at the highest CAGR during the analysis period. Amino acids and other aquafeed additives are essential macromolecules for the proper development, growth, and upkeep of aquaculture. Demand for additives is expected to increase as the number of fish farmers that prioritize using high-quality feed grows.
Global Aqua Feed Market By Type, 2023 (%)
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Global Aqua Feed Market Regional Insights
In 2021, Asia Pacific's revenue share for the aquafeed market was more than 43.9% and is expected to grow steadily during the analysis period. The rapid expansion of the aquaculture industry in the area is largely responsible for this trend. Reasons for its expansion include abundant natural resources, a low cost of living, and a favorable environment for aquaculture. There is rapid expansion in Europe's aquaculture industry, particularly in the UK, France, Italy, and Spain. An increase in feed efficiency and nutrient consumption among aquatic animals, as well as advancements in environmental management, have contributed to the expansion of the European aqua feed market.
Apart from the Asia Pacific and Europe, the market for aqua feed is expanding rapidly globally. The increased demand for seafood including salmonids, mollusks, hard clams, oysters, and mussels is expected to fuel the aquaculture industry in the North American region over the analysis period.
Global Aqua Feed Market By Region, 2024-2031
- Largest
- Fastest
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Global Aqua Feed Market Dynamics
Aqua Feed Market Driver
Rising demand for seafood and consumer expenditure on fish and fish products including fish oil, fish meal, and fish silage Driving market growth.
- Rising demand for seafood and consumer expenditure on fish and fish products including fish oil, fish meal, and fish silage. Growth in the market is anticipated to be fueled in part by rising demand for animal protein in developed western economies and rising commerce of seafood across several countries around the world.
- Increasing investments made by market participants and manufacturers in the study and creation of new and better products. The Guiuan Milkfish Aquafeeds Research, Development, and Extension Project started in August 2020, for instance. To combat the current high costs of feeds on the market, this new research attempts to create alternatives to traditional fish feed ingredients such as plant-based proteins that can be used in fish feed.
Aqua Feed Market Restraint
The raw materials used in aqua feed preparation tend to be highly volatile in price, which can slow market growth.
- The raw materials used in aqua feed preparation tend to be highly volatile in price, which can slow the market growth. A considerable increase in the cost of soybeans, corn, or other raw materials, for instance, would have a direct impact on the price of the product, which could reduce sales and restrain the aqua-feed market growth.
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Global Aqua Feed Market Competitive Landscape
The aqua feed market is relatively fragmented, with a high level of competition. Few large players, like Cargill, Inc., BioMar Group, and Aller Aqua, now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability.
Aqua Feed Market Top Player’s Company Profiles
- Alltech Inc.
- Archer Daniels Midland Company
- BioMar Group
- Cargill Inc.
- Charoen Pokphand Foods PCL
- CP Group
- De Heus Animal Nutrition
- Dongwon Industries Co. Ltd.
- DSM Nutritional Products AG
- Evonik Industries AG
- Guangdong Haid Group Co. Ltd.
- Guangzhou Yuebao Western Aquatic Feed Co. Ltd.
- Nutreco NV
- Purina Animal Nutrition LLC
- Ridley Corporation Ltd.
- Tongwei Co. Ltd.
- Uni-President Enterprises Corporation
- Vitapro S.A.
- Zeigler Bros. Inc.
- Zhejiang New Century Aquatic Co. Ltd.
Aqua Feed Market Recent Developments
- In July 2022, Aller Aqua announced its partnership with Bayrise fish farm in Kenya for its sustainable growth with high-quality products that will improve the aquaculture in Kenya.
- In June 2022, BioMar and Mols Bjerge jointly undertook an initiative to restore eelgrass habitats. The iniciative in known named as “Havets Grønne Enge”. This project will benefit the marine ecosystem and reduce co2 from the atmosphere.
- In June 2022, the merger between Aller Aqua and Danforel will improve both firms' prospects in fish farming, processing, and marketing.
Global Aqua Feed Key Market Trends
- The practice of organic fish farming is relatively new and is continuously evolving. Chemicals, GMOs, and industrial chemicals are not used in the organic farming of fish. Also, the lower stocking density helps to increase production and decrease mortality with increased efficiency. Organic fish feed aids in the human and effective rearing of aquatic species. Recent years have seen a shift in consumer trends toward organic food. This growing trend along with rising organic feed output should boost the aqua feed industry during the forecast period.
Global Aqua Feed Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, in 2021, the soybean segment had the largest market share in the aquafeed market ingredients used for its production. The additive segment is expected to grow at the highest CAGR during the analysis period. There is rapid expansion in Europe's aquaculture industry, particularly in the UK, France, Italy, and Spain. North America's increased demand for seafood including salmonids, mollusks, hard clams, oysters, and mussels is expected to fuel the Aquafeed industry in the region. An increase in feed efficiency and nutrient consumption among aquatic animals, as well as advancements in environmental management, have contributed to the expansion of the European aqua feed market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 76505.48 million |
| Market size value in 2031 | USD 131926.4 million |
| Growth Rate | 5.6% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Aqua Feed Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Aqua Feed Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Aqua Feed Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Aqua Feed Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Aqua Feed Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Aqua Feed Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Aqua Feed Market Report Snapshots
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