Europe AquaFeed Market was valued at USD 9.82 Billion in 2022 and is projected to reach USD 15.84 Billion by 2030, growing at a CAGR of 6.0% from 2024 to 2030.
The European aquafeed market has experienced significant growth in recent years, driven by increasing seafood consumption and advancements in aquaculture practices. As of 2023, the market size reached approximately US$38.94 billion, with projections indicating it will escalate to US$68.05 billion by 2032, reflecting a compound annual growth rate (CAGR) of 6.10% during the forecast period. This surge underscores the escalating demand for high-quality and sustainable aquafeed products across the continent.
Several factors contribute to this upward trajectory. The growing awareness of seafood's health benefits has led to a rise in per capita consumption, prompting aquaculture producers to enhance output. For instance, in Russia, aquaculture production saw an 8.3% increase in 2021, totaling 253,200 metric tons, with species like trout and carp leading the market. Similarly, Germany's aquaculture sector produced about 18,300 metric tons of fish in 2021, cultivated by approximately 2,200 businesses employing advanced technologies such as closed recirculating systems.
The United Kingdom stands out as a dominant player in the European aquafeed market. In 2021, the UK's fish consumption rose from 148 grams per week in 2020 to 153 grams, driving a heightened demand for aquatic feed. The UK aquaculture industry is diverse, producing finfish and shellfish for various purposes, with salmon leading both in volume and value. Investments are also notable; for example, Ensus UK announced a EUR 100 million investment in 2023 to develop high-protein ingredients for the UK and European aquafeed markets. Companies like Benchmark Holdings are pioneering sustainable fish feed ingredients, such as insect proteins, reducing reliance on traditional fishmeal and promoting sustainable practices.
In terms of feed composition, the market is segmented based on species, ingredients, additives, and product forms. Species-specific feeds cater to carps, marine shrimps, tilapias, catfishes, marine fishes, salmons, freshwater crustaceans, trout, and others. Key ingredients include soybean, corn, fish meal, fish oil, and various additives like vitamins, minerals, antioxidants, and feed enzymes. The product forms range from pellets and extruded feeds to powdered and liquid formats, each designed to meet the specific dietary needs of different aquatic species.
Technological advancements in feed formulations have also played a pivotal role in market expansion. The development of functional and specialty aquafeeds, designed to address specific health concerns, promote disease resistance, and optimize growth rates, has been instrumental. Additionally, the adoption of alternative protein sources, such as insect-based proteins, single-cell proteins, and plant-based proteins, presents a significant opportunity for the aquafeed market. These alternatives help reduce reliance on traditional fishmeal and fish oil, contributing to the sustainability of the aquaculture industry.
However, the industry faces challenges, including volatility in raw material prices and environmental concerns associated with aquaculture practices. Fluctuations in the prices of key ingredients, such as fishmeal and fish oil, can impact profitability and pricing strategies of manufacturers. Environmental implications, such as water pollution and habitat degradation, necessitate sustainable management practices to mitigate negative impacts.
In conclusion, the European aquafeed market is poised for substantial growth, driven by increasing seafood consumption, technological innovations, and sustainable practices. Stakeholders in the industry must navigate challenges related to raw material volatility and environmental sustainability to capitalize on emerging opportunities in this dynamic landscape.
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Nutreco
Haid Group
Tongwei Group
BioMar
Cargill
CP Group
Evergreen Feed
New Hope Group
Grobest
Yuehai Feed
Ridley
Alpha Feed
Dibaq Aquaculture
DBN
Uni-President Vietnam
Aller Aqua
GreenFeed
Proconco
Avanti Feeds
Gold Coin
Vitapro
Tianma Tech
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Europe AquaFeed Market
Floating Feed
Sinking Feed
Extruded Feed
Pelleted Feed
Other Forms (e.g., mash, crumble)
Fishmeal
Fish Oil
Vegetable Proteins
Cereals and Grains
Additives (e.g., vitamins, minerals)
Aquaculture Farms
Fish Breeding Centers
Research Institutes
Commercial Aquariums
Others (e.g., hobbyists)
Finfish
Crustaceans
Mollusks
Shellfish
Other Aquatic Species
Grow-Out Feeds
Starter Feeds
Broodstock Feeds
Specialty Feeds (e.g., for health, production)
Research & Development Feeds
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Europe AquaFeed Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Europe AquaFeed Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Europe AquaFeed Market, By Type
6. Europe AquaFeed Market, By Application
7. Europe AquaFeed Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Europe AquaFeed Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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