ALBANY, New York, August 30, 2016 /PRNewswire/ --
A market research report published by Transparency Market Research projects excellent growth prospects for the global aqua feed market. The report, titled "Aqua Feed Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019", states that the market will expand at an 11.4% CAGR between 2013 and 2019. Owing to such excellent growth prospects, the market is expected to rise from a market valuation of US$57.7 bn in 2012 to US$122.6 bn by 2019
The demand for aquaculture products has been on the rise over the past few years. This is because aquatic foods have high nutritional value and are also quite affordable. To cater to this demand, aquaculture has developed considerably, wherein the breeding of aquatic products is monitored and controlled.
The flourishing aquaculture market contributes significantly to the growth of the global aqua feed market. On the other hand, revenue contribution by the aqua feed market makes up almost 50% of the cost involved in operating an aquaculture facility. Therefore, the growth of the aqua feed market is dependent on the growth of the aquaculture industry to some extent.
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The report credits the flourishing growth of the global aquaculture market as the largest contributor to the overall growth of the global aqua feed market. According to the report, revenue generated by the aqua feed market contributes nearly 50% of the overall costs involved in running an aquaculture facility. The growth of the aqua feed market, therefore, to an extent depend on the overall growth of aquaculture industry. While the continuously rising demand for aquatic food products from the aquaculture industry will drive the market for aquafeed, the fluctuating costs of key ingredients such as fish oil, corn, and soybean and fish meal will restrain market's growth to a certain extent over the report's forecast period.
Of the key end users of aqua feed, the segment of carps held the largest share of the global market, accounting for 25%, in 2012. Carps are expected to be one of the fastest growing segments over the report's forecast owing to their compatibility in harsh environmental conditions. In 2012, the segment of mollusks held the second largest share of the global market and is expected to expand at an above-average growth pace over the report's forecast period owing to rising consumer awareness about their health benefits.
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Geography-wise, the regional segment of Asia Pacific accounted for over 65% of the global demand of aqua feed in 2012. This regional market is also expected to maintain its dominant position in the market over the report's forecast period owing to the flourishing aquaculture industry in the region. Demand for aqua feed is also expected to significantly rise in the countries in the Rest of the World region over the report's forecast period. Some of the key vendors operating in the global aqua feed market are Beneo GmbH, Avanti Feeds Ltd., Alltech Inc., BioMar A/S, Aller Aqua A/S, Cargill Incorporated, Dibaq Aquaculture, and Cermaq ASA.
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The global aqua feed market is segmented as:
Aqua Feed Market: End-use Analysis
- Others (Trouts, eels, milkfish, etc.)
Aqua Feed Market: Regional Analysis
- North America
- Asia Pacific
Browse Market Analysis Blog: http://www.tmrblog.com/2016/08/aqua-feed-market-research.html
Browse Other Research Reports:
- Aquaculture Market: http://www.transparencymarketresearch.com/aquaculture-market.html
- Global Fast Food Market: http://www.transparencymarketresearch.com/global-fast-food-market.html
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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SOURCE Transparency Market Research