Aquafeed Market 2022 by Global Key Players, Types, Applications, Countries, Industry Size and Forecast to 2027

The aquafeed market is valued at nearly US$ 64 Bn in 2021. The market is likely to grow at a CAGR of 5.9% CAGR through 2027, reaching US$ 86 Bn by 2027.

In 2021, APEJ region is the largest market for aquafeed market, accounting for nearly US$ 23.59 Bn from the global share. This region will hold the market of US$ 36 Bn growing at 7% CAGR through 2027.

Extruded form of product dominates the aquafeed market currently and is estimated to hold 50% share by 2027.

The new report by Future Market Insights titled “Aquafeed Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)” forecasts the global aquafeed market to be valued at about US$ 50 Bn by the end of 2017 and will continue to grow at a CAGR of 5.9% during the period of study to reach a market valuation of about US$ 86 Bn by the end of the forecast period.

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The global aquafeed market is spread over most of the countries of the world, lending increased visibility to the regional markets in terms of revenue growth. APEJ is the leading producer of aquafeed followed by North America, Latin America, Western Europe, Japan, MEA and Latin America. China and Norway have emerged as major producers of aquafeed in the past three years. The U.S is a major producer of aquafeed in the world.

APEJ has been leading the global consumption of aquafeed for the last 10-20 years with an average per capita production of nearly 53% of the entire global production in million metric tonnes over the period.

Increasing global population: A rapid increase in the global population and a subsequent rise in the consumption of food demands modern and advanced technologies as well as sonar equipment, leading to an over-exploitation of marine species and marine resources to meet the expanding consumer demands.

A US$ 50 Bn market, the global aquafeed market has been largely concentrated in the APEJ region for over two decades, owing to a large supply of fresh water in the region and a thriving aquaculture market. While North America will continue to witness significant growth during the forecast period, the MEA market is slated to display great potential in the coming years, owing to a cheap labour force and a large production of the fish tilapia in Egypt. In terms of volume, the APEJ regional market is estimated to be pegged at 21.5 million metric tonnes in 2017 and this is expected to reach almost 40 million metric tonnes by the end of 2027, registering a CAGR of 6.3% in terms of volume. North America will witness a CAGR of 5.6% in terms of volume during the decadal study 2017 – 2027.

Competitive landscape