Fish Feed Market Regional Analysis

North America is expected to dominate the global fish feed market during the forecast period owing to the presence of large fish farms for aquaculture. The United States has a significant demand for seafood as aquatic items occupy a specific position in the market. The growth of this market in this country is driven by population growth, rising income, and rapid urbanization. To meet the high demand for this product, nearly half of the raw material necessary is imported from other regions.

Asia Pacific is expected to grow at the fastest rate during the forecast period. The growth of this market is attributed to excessive consumption of fish in countries of the far East such as Korea and Japan, Bangladesh, and some parts of Eastern India. In this region, aquaculture is practiced on a large scale as fish is staple food for several countries. In China, the consumption of fish is increased due to increasing disposable incomes of people. China is the highest exporter of seafood. Additionally, high nutrition obtained from fish is another factor supporting the high seafood consumption rate in the country. Seafood consumption in China accounts for 45% of the global volume. Hence, increasing domestic consumption and production of fish feed in the country, coupled with its multiple export relations with other countries are the factors supporting the market in Asia Pacific.