Aquafeed Market

Aquafeed Market is anticipated to grow at a CAGR of 4.3% during forecast period and estimated to reach USD 78 Billion by 2027.

Aquafeeds are constituted with a mixture of several ingredients. These mixtures are formulated as per the requirement of the species and based on their age. Aquafeeds fulfil the nutritional necessities of animals which is required to perform physiological functions and helps in maintaining a highly effective immune system, and reproduction system. High-quality aquafeed is composed specifically according to the need of animals. It is more beneficial to fish, mollusks, crustaceans, and other aquatic animals than the farm-made feed. Aquafeed has become very prominent for the aquaculture industry, complying with its properties such as immune resistant, nutritional, and growth-promoting properties.

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The factors driving the growth of the global aquafeed market include growth in aquaculture production, increasing seafood consumption, and rising seafood trade. The requirement for food that is rich in protein has significantly increased. Aquafeed prevents viral outbreaks such as fish dropsy, fin rot, and ammonia poisoning, which are common bacterial and fungal diseases. This property of aquafeeds aid to the substantial growth of the global aquafeed market. Increasing demand for natural vitamin additives and feed acidifiers to impede cross-contamination and seafood-borne diseases such as vibrio, salmonella, and listeria is propelling the growth of this market.

Aquafeeds are rich in protein, amino acid, and omega 3, which provides healthy development to fish and lessens the possibility of fungal & bacterial infections. These factors are aiding to the rapid growth of the aquafeed market. Nowadays, people have become more aware of the health benefits related to the consumption of fish or other aquaculture species, which has increased the demand for nutritional food.

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Based on the ingredient, the market is segmented into soybean, corn, fishmeal, fish oil, additives, and other ingredients. The soybean segment is anticipated to witness a faster CAGR over the forecast period attributed to the lower price of soybean meal as compared to fishmeal. Some of the standard soybean products include solvent-extracted soybean meal, dehulled soybean extracted soybean meal, and heat-processed full-fat soybean. Soy protein provides healthy growth and development to shellfish and farm-reared fish, which is a significant factor driving the growth of soybean segment.

Based on the additives, the market is segmented into amino acids, vitamins & minerals, prebiotics & probiotics, enzymes, antibiotics, antioxidants, and other additives. The amino acids segment is expected to grow at a higher CAGR over the forecast period in the global aquafeed market. Amino acids improve the overall growth, production, and maintenance of the aquatic animals as they provide adequate nutrition and are the building blocks of protein. Amino acids help in providing energy for the development of bones, blood circulation, digestion, and muscles. These factors propel the growth of this segment.

Based on the species, the market is segmented into fish, crustaceans, mollusks, and other species. The fish segment is projected to grow at a higher CAGR during the forecast period due to the high demand of fish among the consumers. In order to meet the demand, fish farming in rivers, lakes, and ponds has increased, thus providing a substantial growth to the demand for fish feed. Aquafeed is highly consumed by carps and tilapia. Carps are considerably nurtured as they are amenable to climate change. These activities play a vital role in the growth of the fish segment.

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Based on the region, Asia-Pacific region is projected to grow at a higher CAGR over the forecast period as China is the biggest producer, consumer, and processor of aquaculture products and it has a high contribution to the global supply. Fish farming is easy in this region due to factors such as the durability of species and good water quality within closed farm systems. The increased rate of fish farming provides substantial supply to comply with the demand is a key factor driving the growth of the aquafeed market in Asia-Pacific region.

Various notable players operating in the market include ADM, Cargill, Incorporated, Ridley Corporation Limited, Nutreco, Purina Animal Nutrition LLC, Aller Aqua A/S, BioMar, Nutriad, Biomin Holding GmbH, and Norel S.A, among others. 

Key Developments: 

• • In 2019, ADM acquired Neovia, which provided a strong platform to execute strategic plans in order to become the global leader in the animal health and nutrition space.
  • In 2018, Cargill invested $ 70 million (USD) in Thailand to implement technologies in the aquaculture industry to enhance the research & development as a part of global innovation strategy.

The global aquafeed market has been segmented on the basis of ingredient, additives, species, form, lifecycle, and key regions. Based on ingredient, the market is segmented into soybean, corn, fishmeal, fish oil, additives, and other ingredients. The soybean is further segmented into soybean meal, soy oil, and soy lecithin. The corn segment is further segmented into corn gluten meal, corn gluten feed, and corn oil. Based on additives, the market is segmented into amino acids, vitamins & minerals, prebiotics & probiotics, enzymes, antibiotics, antioxidants, and other additives. Based on species, the market is segmented into fish, crustaceans, mollusks, and other species. The fish segment is further segmented into tilapia, salmon, carp, trout, and other fish species. The crustaceans segment is further segmented into shrimp, crabs, krill, and other crustaceans. The mollusks segment is further segmented into oysters, mussels, and other mollusks. Based on form, the market is segmented into dry form, wet form, and moist form. Based on lifecycle, the market is segmented into grower feed, finisher feed, starter feed, and brooder feed. Based on the regions, the global fixed-wing VTOL UAV market has been segmented into Asia-Pacific, Europe, North America, and RoW. 

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Key questions answered in this research report:

• • At what pace is global aquafeed market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in aquafeed market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global aquafeed market?
  • Which ingredient generated maximum revenues in 2019 and identify the most promising ingredient during the forecast period?
  • What are the various additives areas of global aquafeed market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Aquafeed Market by Ingredient

• • Soybean
    • Soybean meal
    • Soy oil
    • Soy lecithin
  • Corn
    • Corn gluten meal
    • Corn gluten feed
    • Corn oil
  • Fishmeal
  • Fish Oil
  • Additives
  • Other Ingredients

Global Aquafeed Market by Additives

• • Amino Acids
  • Vitamins & Minerals
  • Prebiotics & Probiotics
  • Enzymes
  • Antibiotics
  • Antioxidants
  • Other Additives

Global Aquafeed Market by Species

• • Fish
    • Tilapia
    • Salmon
    • Carp
    • Trout
    • Other Fish Species
  • Crustaceans
    • Shrimp
    • Crabs
    • Krill
    • Other Crustaceans
  • Mollusks
    • Oysters
    • Mussels
    • Other Mollusks
  • Other Species

Global Aquafeed Market by Form

• • Dry Form
  • Wet Form
  • Moist Form

Global Aquafeed Market by Lifecycle

• • Grower Feed
  • Finisher Feed
  • Starter Feed
  • Brooder Feed

Global Aquafeed Market by Region

• • North America Aquafeed Market (Option 1: As a part of the free 25% customization)
    • North America Aquafeed Market by Ingredient
    • North America Aquafeed Market by Additives
    • North America Aquafeed Market by Species
    • North America Aquafeed Market by Form
    • North America Aquafeed Market by Lifecycle
    • US Aquafeed Market All-Up
    • Canada Aquafeed Market All-Up
  • Europe Aquafeed Market (Option 2: As a part of the free 25% customization)
    • Europe Aquafeed Market by Ingredient
    • Europe Aquafeed Market by Additives
    • Europe Aquafeed Market by Species
    • Europe Aquafeed Market by Form
    • Europe Aquafeed Market by Lifecycle
    • UK Aquafeed Market All-Up
    • Germany Aquafeed Market All-Up
    • France Aquafeed Market All-Up
    • Spain Aquafeed Market All-Up
    • Rest of Europe Aquafeed Market All-Up
  • Asia-Pacific Aquafeed Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Aquafeed Market by Ingredient
    • Asia-Pacific Aquafeed Market by Additives
    • Asia-Pacific Aquafeed Market by Species
    • Asia-Pacific Aquafeed Market by Form
    • Asia-Pacific Aquafeed Market by Lifecycle
    • China Aquafeed Market All-Up
    • India Aquafeed Market All-Up
    • Japan Aquafeed Market All-Up
    • Rest of APAC Aquafeed Market All-Up
  • RoW Aquafeed Market (Option 4: As a part of the free 25% customization)
    • RoW Aquafeed Market by Ingredient
    • RoW Aquafeed Market by Additives
    • RoW Aquafeed Market by Species
    • RoW Aquafeed Market by Form
    • RoW Aquafeed Market by Lifecycle
    • Brazil Aquafeed Market All-Up
    • South Africa Aquafeed Market All-Up
    • Saudi Arabia Aquafeed Market All-Up
    • UAE Aquafeed Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Aquafeed Market All-Up

Major Players Operating the Aquafeed (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • ADM
  • Cargill, Incorporated
  • Ridley Corporation Limited
  • Nutreco
  • Purina Animal Nutrition LLC
  • Aller Aqua A/S
  • BioMar
  • Nutriad
  • Biomin Holding GmbH
  • Norel S.A