Aquafeed Market

The aquafeed market is estimated to account for USD 47.3 billion in 2019 and is projected to reach USD 71.7 billion by 2025, recording a CAGR of 7.2% during the forecast period. The market is primarily driven by the increasing seafood trade, growth in aquaculture production, and rising seafood consumption among consumers due to the increasing need for protein-rich diets. 

Report Objectives:

• To describe and forecast the aquafeed market, in terms of ingredient, species, form, additive, lifecycle, and region

• To describe and forecast the aquafeed market, in terms of value, by region–Asia Pacific, Europe, North America, South America, and the Rest of the World—along with their respective countries

• To provide detailed information regarding the major factors influencing market growth (drivers, restraints, opportunities, and challenges)

• To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market

• To study the complete value chain of aquafeed

• To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the aquafeed market

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The fishmeal segment, by ingredient, is projected to grow at the highest CAGR in the aquafeed market during the forecast period.

The fishmeal segment is projected to be growing at the fastest rate during the forecast period, owing to the depleting amount of raw materials required for its production and increasing price levels. Due to over-exploitation, high demand, and price fluctuation of fishmeal, a large number of possible fishmeal replacers, including animal by-products (blood meal, poultry by-product meal, and bone meal), single-cell proteins (mainly from fungal and bacterial sources, such as algae), oilseeds (soybean, rapeseed, sunflower, and cottonseed), and legumes (beans, peas, and lupins) are being used in manufacturing aquafeed.

Asia Pacific is projected to witness the highest growth in the aquafeed market during the forecast period.

The global aquafeed market was dominated by Asia Pacific in 2018, in terms of value and volume; this market is majorly driven by China, which is a major producer of aquafeed. China is the leading producer, consumer, and processor of aquaculture products, contributing to about one-third to the global supply. Moreover, the processed seafood market in the region is also currently undergoing a significant transformation in response to the rapid urbanization and diet diversification.

Key Market Players:

Many domestic and global players provide aquafeed products to improve fish health. Major manufacturers have their presence in the North American and European countries. The report scope has been restricted to the market for commercial aquafeed products marketed across the globe. The key companies in the aquafeed market are Cargill (US), Archer Daniels Midland Company (US), Alltech (US), Purina Animal Nutrition (US), Nutreco N.V. (Netherlands), and Ridley Corporation Ltd. (Australia). Various strategies, such as expansions & investments, partnerships, collaborations, and agreements, were adopted by the key companies to remain competitive in the aquafeed market.

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Key questions addressed by the report:

• Which region will account for the highest share in the aquafeed market?

• How would the fluctuations in ingredient prices impact the growth of the aquafeed market globally?

• What is the level of support offered by governments across these countries to aquafeed manufacturers?

• Which are the key players in the market and how intense is the competition?