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.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall aquafeed market and its subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report will also help the stakeholders to understand the pulse of the market and will provide them with information on key market drivers, restraints, challenges, and opportunities.
Key Topics Covered
1 Introduction 1.1 Objectives of the Study 1.2 Market Definition 1.3 Study Scope 1.4 Periodization Considered 1.5 Currency Considered 1.6 Volume Unit Considered 1.7 Stakeholders
2 Research Methodology 2.1 Research Data 2.1.1 Secondary Data 2.1.2 Primary Data 22.214.171.124 Key Industry Insights 126.96.36.199 Breakdown of Primary Interviews 2.2 Market Size Estimation 2.3 Data Triangulation 2.4 Research Assumptions 2.5 Limitations
3 Executive Summary
4 Premium Insights 4.1 Opportunities in this Market 4.2 Aquafeed Market, By Species & Region, 2018 4.3 Asia Pacific: Aquafeed Market, By Ingredient & Country 4.4 Market, By Form 4.5 Market, By Key Country
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 188.8.131.52 Growth in the Aquaculture Industry 184.108.40.206 Rise in Seafood Trade Propelling the Demand 5.2.2 Restraints 220.127.116.11 Fluctuations in Raw Material Prices 5.2.3 Opportunities 18.104.22.168 Growth in Support From Governments 22.214.171.124 Development of Innovative Products as a Source of Protein 5.2.4 Challenges 126.96.36.199 Growth in Environmental and Human Health Concerns 5.3 Regulatory Framework 5.3.1 China 5.3.2 European Union 5.3.3 Japan 5.3.4 South Africa 5.4 Value Chain Framework
6 Aquafeed Market, By Ingredient 6.1 Introduction 6.2 Soybean 6.2.1 Processed Soybean is the World's Largest Source of Animal Protein Feed 188.8.131.52 Soybean Meal 184.108.40.206 Soy Oil 220.127.116.11 Soy Lecithin 6.3 Fishmeal 6.3.1 Fishmeal Improves the Overall Efficiency of the Feed and Aids in Digestion 6.4 Corn 6.4.1 Corn Oil is A Low-Cost Alternative to Animal Feed Proteins Used in Aquaculture 18.104.22.168 Corn Gluten Meal 22.214.171.124 Corn Gluten Feed 126.96.36.199 Corn Oil 6.5 Fish Oil 6.5.1 Fish Oil is A Valuable Feed Ingredient for the Aquaculture Industry 6.6 Additives 6.6.1 The Growing Demand for High-Protein Diets is Aiding the Growth of Additives 6.7 Others 6.7.1 Wheat has Good Pellet-Binding Properties Due to Which It is Preferred in Feed as an Alternative Ingredient
7 Aquafeed Market, By Additive 7.1 Introduction 7.2 Amino Acids 7.2.1 Amino Acids Aid in Overcoming Dietary Deficiencies in Aquatic Animals 7.3 Vitamins & Minerals 7.3.1 Vitamins Aid in Coping With the Deficiencies and Deformities in Young, Developing Fish 7.4 Probiotics & Prebiotics 7.4.1 Use of Probiotics & Prebiotics Enhancing the Gut Health of Aquatic Animals 7.5 Enzymes 7.5.1 Feed Enzymes Aid in Nutrient Absorption Due to Which Its Application is Growing in Feed 7.6 Antibiotics 7.6.1 Outbreak of Infectious Diseases in Aquatic Animals Leading to the Adoption of Antibiotics 7.7 Antioxidants 7.7.1 Rise in Demand for Fish Feed Steering the Growth of Antioxidants as an Additive 7.8 Others 7.8.1 Addition of Carotenoids Enhancing the Commercial Value of Fish
8 Aquafeed Market, By Species 8.1 Introduction 8.2 Fish 8.2.1 Fish is the Largest Consumer of Aquafeed Ingredients Among All Species 8.2.2 Tilapia 8.2.3 Salmon 8.2.4 Carp 8.2.5 Trout 8.2.6 Others 8.3 Crustaceans 8.3.1 Growth in Shrimp Production to Boost the Aquafeed Consumption Among Crustaceans 8.3.2 Shrimp 8.3.3 Crabs 8.3.4 Krill 8.3.5 Others 8.4 Mollusks 8.4.1 Oysters and Mussels are the Most Widely Cultured Groups Under Mollusks 8.4.2 Oysters 8.4.3 Mussels 8.4.4 Others 8.5 Others
9 Aquafeed Market, By Form 9.1 Introduction 9.2 Dry Form 9.2.1 The Free-Flowing Structure and Consistency of the Dry Aquafeed Makes It A Preferred Form 9.3 Wet Form 9.3.1 The Wet Form of Feed is Used to Meet the Requirements of Carnivorous Fish 9.4 Moist Form 9.4.1 The Moist Form is More Palatable to Aquatic Animals Due to Its Soft Consistency
10 Aquafeed Market, By Lifecycle 10.1 Introduction 10.2 Grower Feed 10.2.1 Grower Feed is Administered to Meet the Protein Requirements of Small Fish 10.3 Finisher Feed 10.3.1 Protein Levels in Finisher Feed Vary By Different Shrimp Species 10.4 Starter Feed 10.4.1 Starter Feed Aids in Improving the Digestion and Nutritional Intake of Small Aquatic Animals 10.5 Brooder Feed 10.5.1 Brooders Ought to Receive Natural Food Ingredients and Artificial Feeds to Ensure Better Reproduction
11 Aquafeed Market, By Region 11.1 Introduction 11.2 North America 11.2.1 US 188.8.131.52 Growth in Affinity Toward the Consumption of Seafood Products to Drive Growth 11.2.2 Mexico 184.108.40.206 Government Initiatives to Promote the Consumption of Seafood to Drive Growth 11.2.3 Canada 220.127.116.11 Rise in Market Exports to Promote the Aquafeed Market in the Country 11.3 Europe 11.3.1 Norway 18.104.22.168 The Thriving Aquaculture Industry is Expected to Drive the Market for Aquafeed 11.3.2 Greece 22.214.171.124 Increase in Seafood Production to Drive the Market for Aquafeed 11.3.3 UK 126.96.36.199 Rise in Seafood Consumption Driving the Market for Aquafeed 11.3.4 Russia 188.8.131.52 Government Incentives are Expected to Propel the Market for Aquafeed 11.3.5 Spain 184.108.40.206 The Country's Vast Mollusk Population Drives the Aquafeed Market 11.3.6 Rest of Europe 220.127.116.11 Growth in Seafood Production in the Region is Expected to Drive Growth 11.4 Asia Pacific 11.4.1 China 18.104.22.168 Growth in the Aquaculture Industry to Propel the Market Growth for Aquafeed 11.4.2 Vietnam 22.214.171.124 Seafood Forming: an Important Dietary Requirement to Drive Growth 11.4.3 Thailand 126.96.36.199 Rise in Demand for Exotic Seafood Products to Drive the Market for Aquafeed 11.4.4 Indonesia 188.8.131.52 Increase in Production From Freshwater Aquaculture to Drive Growth 11.4.5 India 184.108.40.206 A Shift Toward Intensive Aquafarming is Expected to Propel Market Growth 11.4.6 Rest of Asia Pacific 220.127.116.11 Seafood is Considered A Healthy Dietary Constituent to Drive Market Growth 11.5 South America 11.5.1 Chile 18.104.22.168 Large Fish Farming Areas and Suitable Climatic Conditions Aid Market Growth for Aquafeed in the Country 11.5.2 Brazil 22.214.171.124 Favorable Government Opportunities Formulated to Propel Aquaculture in the Country 11.5.3 Rest of South America 126.96.36.199 Increased Demand for Aquaculture Products has Been Driving the Demand for Aquafeed Products in the Region 11.6 Rest of the World 11.6.1 Africa 188.8.131.52 Low Development of Aquaculture has Led to A Smaller Market for Aquafeed in the Region 11.6.2 Middle East 184.108.40.206 Rise in Demand for Value-Added Processed Seafood Products to Drive Market Growth