Global
Aquafeed Market Overview
Aquafeed
market Size is a type of feed that is specifically formulated for aquatic
animals, such as fish, shrimp, and shellfish. It is typically made from a
variety of ingredients, including fishmeal, soybean meal, corn, and vitamins
and minerals. The market is segmented by type, species, and region. The type of
segment is further segmented into compound feed, extruded feed, and pelleted
feed. The compound feed segment is the largest segment, accounting for a share
of over 60% of the market in 2022. This is due to the increasing demand for
high-quality feed that can meet the nutritional needs of aquatic animals.
Aquafeed
Market Size to Reach $134.1 Billion by 2032, Growing at a CAGR of 9.2%The
growth of the market is driven by the increasing demand for aquaculture
products, the growing population, and the rising disposable incomes in
developing countries.
The
species segment is further segmented into fish, shrimp, and shellfish. The fish
segment is the largest segment, accounting for a share of over 60% of the
market in 2022. This is due to the high demand for fish as a source of protein
and other nutrients.
The
region segment is further segmented into North America, Europe, Asia Pacific,
Latin America, and Middle East & Africa. Asia Pacific is the largest market
for aquafeed, accounting for a share of over 40% of the market in 2022. This is
due to the growing aquaculture industry in the region.
The key
players in the aquafeed market are Cargill, Inc., Nutreco NV, CP Group,
Alltech, Inc., BioMar Holding A/S, and Skretting ASA. These companies are
focusing on developing new aquafeed products and expanding their distribution
networks to gain a competitive advantage in the market.
The
aquafeed market is a growing market that is driven by the increasing demand for
aquaculture products, the growing population, and the rising disposable incomes
in developing countries. The market is expected to continue to grow in the
coming years.
Global
Aqua Feed Market — Segments
Global
Aqua feed market has been divided into aquatic species, ingredients, additive
type, life cycle, and Region
On
the Basis of Aquatic Species: Carps, Molluscs, Shrimps, Crustaceans, Catfish,
Trouts, and Others
On
the Basis of Ingredients: Wheat, Corn, Other Grains, Pulses, Oilseeds,
and Others
On
the Basis of Additive Type: Vitamins, Antioxidant, Antibiotics, Feed
Enzymes, Amino Acid, and Others
On
the Basis of Life Cycle: Alevin, Fry, Smolts, and Adult
On
the Basis of Region: North America, Europe, Asia Pacific, and Rest of the World
Regional
Analysis
The
global aqua feed market is segmented into North America, Europe, Asia Pacific,
and Rest of the World. Among all the region, Asia Pacific region is estimated
to account for the major market proportion in the year of 2017. The region is
estimated to retain its dominance throughout the forecast period of 2020–2027.
East & southeastern part of Asia Pacific region is the largest producer of
seafood products. Also, the consumption of aqua feed products is increasing
extensively owing to the fish farming in those countries especially
Philippines, Thailand and other Southeast Asian countries. However, China and
India are also one of the attractive destinations among the aqua feed
manufacturers due to the rising fish consumption. However, Europe is expected
to witness high growth in the global aqua feed market as compared to the other
region. Also, changing consumer’s food habit is a significant factor for
increasing growth of the fish & seafood market which in turn escalates the
sales of aqua feed in the European countries. Among the European countries,
Germany is accounting for major market proportion in the aqua feed market.
Browse In-depth Market Research Full Access Report : @ https://www.marketresearchfuture.com/reports/aquafeed-market-1920
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