Aquafeed Market is vital to aquaculture, is highly sought after as a result of rising fish consumption, the expansion of aquaculture, and the search for sustainable protein sources. This market is driven by consumer knowledge of the health advantages of seafood, although industry profitability may be impacted by shifting raw material costs.\
Over the past ten years, the aquafeed market has expanded dramatically, and this growth is anticipated to continue. This growth is attributed to a number of factors, including the dwindling wild fish stocks, rising health consciousness, and an expanding worldwide population. As a result, aquaculture is becoming seen as an essential tactic to meet the growing demand for seafood.
By 2033, aquafeed industry is expected to reach a valuation of US$ 90.9 billion, with a strong CAGR of 6.8% over the next ten years. This significant growth is anticipated from its starting point of US$ 46.8 billion in 2023.
Get a sample study here to find out more about the aquafeed market’s increasing demand for seafood products, sustainable development, and future developments :
https://www.futuremarketinsights.com/reports/sample/rep-gb-4540
Aqua feed, often known as fishmeal or fishfeed, is an essential component of the aquaculture industry. It is essential for providing aquatic animals raised for aquaculture with essential nutrients, such as fish, prawns, and other crustaceans. The need for aqua feed has been steadily increasing as a result of the rise in global fish consumption, the development of the aquaculture industry, and the search for sustainable protein sources.
There are many reasons why the aqua feed market has expanded significantly. Growing consumer understanding of seafood’s health advantages is one of the main causes. The profitability of producers in the aqua feed industry may be impacted by fluctuating costs for raw materials including fish meal, fish oil, and soybean oil.
Market Opportunities In aqua feed market, there are many opportunities as the demand for seafood is increasing day by day. There are many technological advancements are seen, such as the development of feed ingredients and formulations. From this also, the demand for acquiring seafood is increasing
Compared to traditional fishing, this method of producing seafood is extremely sustainable. Since aqua feed contains protein, minerals, lipids, carbohydrates, and vitamins, it is in high demand since people are becoming more health concerned.
Key Takeaways
- The aqua feed market is expected to grow consistently from 2023 to 2033, with a projected US $90.9 billion value by 2033.
- In 2022, the United States emerged as the dominant force in the aqua feed market, commanding a significant market share of 31.2%.
- Germany showcased impressive progress in 2022, attaining a market share of 8.5% and signaling a rising interest in the aqua feed sector.
- The aqua feed market in Japan witnessed substantial expansion in 2022, securing a significant market share of 4.8% and demonstrating its increasing market potential.
- India made a main entry into the aqua feed market in 2022, capturing a market share of 8.0% and showcasing its active involvement and influence within the industry.
Competitors Winning Strategies
Competitors of the aqua feed market are applying many strategies to become a leading company. Companies are focusing on research and development to develop new ingredients which help enhance the health and growth of fish and other aquatic animals. They are opening new feed factories all over the world to meet the growing demand for aqua feed in their regions.
They are making partnerships with other industries as well to accelerate the development of new ingredients also, they get more new customers from other industries.
Get Market Insights, Make a Purchase, and Maintain Your Lead in the Nutritional Supplement Industry :
https://www.futuremarketinsights.com/checkout/4540
Top 15 Key Players in Aqua Feed Market
- Cargill, Incorporated
- Charoen Pokphand Foods PCL
- BioMar Group
- Ridley Corporation Limited
- Aller Aqua
- Biostadt India Limited
- BENEO
- Alltech
- INVE Aquaculture
- AKER BIO MARINE
- Skretting
- Purina Animal Nutrition LLC
- Dibaq Aquaculture
- Avanti Feeds Limited
- The Waterbase Limited
Recent Developments:
- Aller Aqua: Aller Aqua revealed its relationship with the Bayrise fish farm in Kenya to its long-term development with high-quality goods that will enhance aquaculture in Kenya.
- BioMar: BioMar and Mols Bjerge mutually started an effort to repair eelgrass ecosystems. The project, referred to as “Havets Grønne Enge”, will contribute to the sea environment and lower CO2 from the atmosphere.
- Cargill: Cargill confirmed the official launch of its newest fish feed plant, Lotus II, in Vietnam. The fish feed plant includes two lines with an output of approximately 100,000 tons annually.
Aquafeed Industry by Category
By Species:
- Crustaceans
- Fish
- Others
By Form:
- Extruded
- Powder
- Liquid
- Pellets
By Function:
- Health
- Digestion
- Palatability
- Special Nutrition
By Ingredients:
- Marine
- Land Animal
- Veg/Grain
- Carotenoid
- Nutrients
- Others
By Sales Channel:
- Direct Sales
- Indirect Sales
- Hypermarket
- Supermarket
- Wholesalers
- Speciality Stores
- Online
- Other Retail Formats
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa (MEA)
Customize Your Dietary Evaluation – Get a tailored report now to gain a competitive edge in the supplements market :
https://www.futuremarketinsights.com/customization-available/rep-gb-4540
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube