LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global aquatic feed ingredients and products market report. This research report also lists 43 other prominent vendors that are expected to impact the market during the forecast period.
The growth momentum of the global aquatic feed ingredients and products market is expected to accelerate at a CAGR of over 11% during the forecast period. The robust growth of the global aquaculture market is mainly attributed to the rising global population and the decline of the captured fish industry. Globalization has provided a favorable environment for the growth of the aquaculture market with the improvement of logistics systems and trade facilitation. The growth of the retail sector is also driving the market.
Competitive vendor landscape
While the aquatic feed products market in developed countries and some developing countries such as China and Brazil is at a relatively mature stage, there is ample space for manufacturers to explore the potential markets in APAC.
“With an expanding target population base and a relative awareness of aquatic feed products, the markets in fast-growing countries such as China, India, Malaysia, and Indonesia and relatively matured markets such as Japan and South Korea in APAC present a considerable growth opportunity for players,” says Poonam Saini, a lead retail goods and services research analyst from Technavio.
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Top five aquatic feed ingredients and products market vendors
ADDCON claims to be the leader in the aquaculture and fisheries industry and offers organic acids and salts to promote the growth of fishes. The company specializes in stabilizing and preserving agents for fishes. ADDCON offers a wide range of products that improve storage facilities in an economical way.
Alltech develops and commercializes natural supplements for the food and feed industry. It offers natural products, technical information, and solutions to producers for agronomic and horticultural issues. It also produces spirits and beers; and provides education services, including graduate development programs for students.
BioMar Group operates in the aquaculture industry. Its business segment comprises feed products for salmon and trout species in Norway, the UK, and Chile. The company offers feed materials for trout, eel, sea bass, and sea bream in Europe and feed for shrimp and tilapia fish species for South and Central America.
Cargill offers food, agriculture, financial, and industrial products and services worldwide. After acquiring EWOS in October 2015, Cargill has become one of the largest global suppliers of aquatic feed, with 38 specialized production facilities and more than 2,000 employees in 20 countries. Cargill, through its products, promotes productivity, manages risks, and supports its customers' brand image.
Cermaq is an international fish farming group and a provider of salmonid species. It is involved in the breeding, on-growing, processing, sale, and distribution of salmon. The company mills salmon and trout food in Norway, the UK, Canada, and Chile, and raises fish in the UK, Canada, and Chile.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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