Exhibiting a CAGR of ~11%, the global fish feed market is slated for impressive growth between 2022 and 2032. Fish feed manufacturers are continuously driven towards increasing their production capacity by building state of art facilities at their sites to improve the quality and efficacy of their fish feed and boost the species performance and digestibility. Though, subjected to squeezed cash flow, likely Greenfield announcements are on hold and brownfield expansion may resume by the end of next quarter.
The cultivation of newly found species and their increasing applications in the feed industry is are key factors enabling growth in the fish feed market. New aquatic life, which are richer in protein and nutrient content, are gaining popularity as substitutes for older aquatic products. The rising demand for better and effective substitutes will spur the growth in the fish feed market.
The increasing frequency of disease outbreak in the last few years is adversely affecting production of major aquaculture species, including tilapia and shrimp. To contain this and ensure uninterrupted production, businesses will extensively invest in research and development activities. Such initiatives are likely to have positive impact on the overall market.
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The rising demand for organic food will also give impetus to the market. Driven by prevailing market forces, companies are likely to focus on “organic” certification. This is a key trend to look forward to in the fish feed market.
Key Takeaways from the Fish feed Market Study
- The fish feed market is estimated to be valued at US$ 32.8 Bn in year 2022 and exhibit a CAGR of 11% between 2022 and 2032
- Among forms, the pellet segment is estimated to be dominant in the global fish feed market, with a revenue share of nearly 50%
- Currently the fish feed market is led by fish and fish products among product types with share of more than 80%
- Nutrition management for special nutritional requirements in fish feed is indispensable for the market players. This tool helps them combat the negative impact of diseases and improve survival rates in fishes.
“The demand for commercially produced feed, water treatment products, feed additives, fertilizers, and vaccines will increase in the coming years. Recently genetics and animal health products have become more sophisticated. This will aid in the development of feed of desired effect,” said an FMI analyst.
Fish Feed Market
Market Segmentation
Product Type
- Plant Based
- Fish & Fish Products
- Microorganism
Form
- Pellet
- Granules
- Flakes
- Sticks
- Powder
End Use Application
- Commercial
- Household
Distribution Channel
- B2B
- B2C
- Store based
- Online retail
Who is winning?
A few of the companies operating in the fish feed market are Cargill, Inc., Norel SA, Koninklijke DSM N.V., Aller Aqua A/S, BioMar Group, Zeigler Bros., Inc., Archer Daniel Midland, Skretting AS, Nutreco N.V., Biomin Holding GmbH, Dibaq Diproteg SA.
These companies are primarily focusing on developing innovative fish feed products. Besides this, some of them are emphasizing on acquisitions and investment in research and development of advanced technologies to launch novel products. For instance
- In 2019, Nutreco launched two new fish feed products under the brand Skretting AS in Egypt to increase its market presence in Europe region
- In 2017, Nutriad NV improved its product range by using advanced formulating techniques NutriTrace into its organic mineral product line to improve its commercial industry standards
- In 2016, Ridley acquired Camilleri to improve its product range
- In June 2015, ADM released its new fish feed product derived of algae rich in DHA in collaboration with between Bunge Ltd. and terravia
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Market Segmentation
Product Type:
- Plant Based
- Fish & Fish Products
- Microorganism
Form:
- Pellet
- Granules
- Flakes
- Sticks
- Powder
End Use Application:
- Commercial
- Household
Distribution Channel:
- B2B
- B2C
- Store based
- Online retail
Key Questions Answered in the Report
- What is Fish feed market size?
The fish feed market is estimated to be valued at USD 112 billion in 2022 and is projected to reach USD 158 billion by 2032, recording a CAGR of 8.0%, in terms of value.
- At what rate did the Fish feed Market Expand in The Last Five Years?
According to FMI’s study, the Fish feed market grew at 7.6% CAGR between 2017 and 2021.
- What are the key factors driving Fish feed market demand?
The rising global fish consumption and an increase in processed seafood consumption are due to rising middle-class affluence in developing countries.The limited availability of marine feed resources as there is a growing demand for fish results in the growth of fish farming driving the demand for fish feed.
- Which Countries Are the Highest consumers of Fish feed?
India, China, Japan, the United States, Brazil are the highest consumers of Fish feed.
- Which is the Highest-Grossing Region in the Global Fish feed Market?
Asia-pacific region is a leading market share in the global Fish feed market, estimated to account for more than 50% of the overall market in 2022.
About FMI:
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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