DUBLIN--(BUSINESS WIRE)--The "Aquafeed Market - Forecasts from 2017 to 2022" report has been added to Research and Markets' offering.
Aquafeed market is projected to witness a compound annual growth rate of 10.73% during the forecast period to reach a total market size of US$164.53 billion by 2022, increasing from US$98.84 billion in 2017.
Aquaculture is expected to be the prime source of seafood by 2030, as demand breeds from the global middle class and wild capture fisheries. The rising aquaculture industry is expected to augment the aquafeed market in this segment. Moreover, the growth in seafood trade owing to globalization and increase in spending power further augments the aquafeed market. However, the fluctuating prices of raw materials like fish oil and fish meal drive the need for cost effective substitutes while restraining the market growth.
By additive, Amino acid is expected to grow at a high rate over the forecast period owing to the growing demand for nutritional animal products among consumers. Amino acids are significant in animal nutrition and are the building blocks of protein. This helps in production, growth and overall maintenance of aquatic animal health. Likewise, feed acidifiers are also expected to witness high growth in the upcoming years. The ease of application and high efficiency of feed acidifiers augments its adoption.
Asia Pacific accounted for a large market share in 2016 and is expected to hold a notable position by the end of the forecasted period. The flourishing aquaculture industry owing to the availability of cheap labour and natural resources is the major factor driving this regional growth. The rising consumption and trading of sea food, especially in China, further contribute to this growth. Likewise, high growth has been observed in European aquafeed market as a result of rising consumption of sea food in countries like Germany and Norway.
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Aquafeed Market Forecast by Additive (US$ billion)
6. Aquafeed Market Forecast by End-User (US$ billion)
7. Aquafeed Market Forecast by Geography (US$ billion)
8. Competitive Intelligence
9. Company Profiles
- Alltech Inc
- Biomar
- Aller Aqua
- Dibaq Aquaculture
- Cargill Incorporated
- Norel Animal Nutrition
- Ridley Corporation Limited
- Skretting
For more information about this report visit https://www.researchandmarkets.com/research/6m8tfv/aquafeed_market
