Aqua Feed Market

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 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.

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FAQs

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).

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. '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.'

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.

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.

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.

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Aqua Feed Market

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