DUBLIN--(BUSINESS WIRE)--The "Aquafeed Market by Species (Fish, Crustaceans, and Mollusks), Ingredient (Soybean, Corn, Fishmeal, Fish Oil, and Additives), Lifecycle (Starter Feed, Grower Feed, Finisher Feed, and Brooder Feed), Form, Additive, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global aquafeed market size is projected to grow from USD 47.3 billion in 2019 to USD 71.7 billion by 2025, at a CAGR of 7.2% during the forecast period.
- This study covers the aquafeed market across various segments.
- It aims at estimating the market size and growth potential across different segments, such as species, ingredient, additive, lifecycle, form, and region.
- The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Factors such as the growing aquaculture industry and increasing seafood trade are factors projected to drive market growth. However, fluctuations in raw material prices and the growing environmental and human health concerns are projected to hinder the growth of the market.
The aquafeed market comprises major manufacturers such as Cargill (US), Archer Daniels Midland Company (US), Alltech (US), Purina Animal Nutrition (US), Nutreco N.V. (Netherlands), and Ridley Corporation Ltd. (Australia). The study includes an in-depth competitive analysis of these key players in the aquafeed market, along with their company profiles, recent developments, and the key market strategies.
The fish segment, by species, is estimated to dominate the aquafeed market in 2019
The fish segment accounted for the largest share in 2018, in terms of value. Fish is the cheapest and most easily digestible animal protein. However, due to excessive exploitation of resources and pollution, the availability of fish in natural waters has declined considerably. This has resulted in the adoption of various methods to increase production. The major types of fish considered for the study include tilapia, salmon, carp, and trout.
The soybean segment, by ingredient, is projected to account for the largest share during the forecast period in the aquafeed market
The soybean segment is estimated to dominate the aquafeed market in 2019. Soybean is among the non-fish sources of omega-3 fatty acids, proteins, and unsaturated fats. Soy protein is fed to farm-reared fish and shellfish to enhance their overall growth and development. Some of the commonly used soybean products in aquafeed include heat-processed full-fat soybean, mechanically extracted soybean cake, solvent-extracted soybean meal, and dehulled solvent-extracted soybean meal.
Asia Pacific is projected to be the fastest-growing region in the aquafeed market
The Asia Pacific market accounted for the largest share in 2018. According to a report published in 2018 by the National Bank for Agriculture & Rural Development (NABARD) on Fisheries and Aquaculture, countries, such as India, have focused on the adoption of freshwater aquaculture as their key activity, which has contributed to its market dominance. Also, consumer demand for convenience and processed seafood offers profitable growth prospects and diversification in the region's food sector. These factors are projected to significantly drive the market growth for aquafeed during the forecast period.
- Growth in the Aquaculture Industry
- Rise in Seafood Trade Propelling the Demand
- Fluctuations in Raw Material Prices
- Growth in Support From Governments
- Development of Innovative Products as a Source of Protein
- Growth in Environmental and Human Health Concerns
- Aller Aqua A/S
- Archer Daniels Midland Company
- Avanti Feeds Limited
- Biostadt India Limited
- Norel Animal Nutrition
- Novus International
- Purina Animal Nutrition
- Ridley Corporation Limited
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