Aquafeed Market Size and Growth Rate:
According to the Research Report, the Global Aquafeed Market Size was Expected to Reach at USD 172.56 Billion by 2022 with a CAGR of 9.9% during the forecast period 2018-2022.
Aquafeed Market Drivers and Restraints:
The increase in consumption of seafood and growing aquaculture industry is resulting in market growth for aquafeed, globally. Aquafeed is used to feed omnivorous fish (tilapia, catfish, common carp, and milkfish), carnivorous fish (salmon, trout, eel, seabass, seabream, and tuna), and crustacean species (marine & brackish-water shrimps, freshwater prawns, crabs, and lobsters).
The major challenge for the aquafeed industry is the price volatility of the raw materials. The increase in feed impacted the farming of different fish species in several countries. Major consequences of the rising prices of ingredients are a shortage in the local supply of fish and unsecured future food supply
Aquafeed Market – Regional Presence:
The European region is projected to be the fastest-growing market for aquafeed between 2017 and 2022. The European market experiences the maximum consumption of aquafeed due to the increased consumption of seafood, flexibility in using secondary raw materials, and increasing income of the expanding middle class in developing nations. Key players focus on research & development to develop innovative aquafeed additives that provide nutrients such as proteins, minerals, and vitamins to aquatic animals through their feed
Some of the Prominent Companies leading the Global Aquafeed Market Profiled in the Report are:
- Ridley Corporation Limited (Australia)
- Cargill (U.S.)
- Nutreco N.V (The Netherlands)
- Avanti Feeds Ltd. (India)
- Biomar
- Aller Aqua
- BASF
- DSM
The Research Report segments the Aquafeed Market into the following submarkets:
Aquafeed Market – By Ingredient:
- Additives
- Fish Oil
- Fish Meal
Aquafeed Market – By Form:
- Extruded
- Pellet
- Powder
- Liquid
Aquafeed Market – By Species:
Aquafeed Market – By Function:
- Digestibility
- Palatability
- Special Nutrition
- Others
Aquafeed Market – By Region:
- North America
- Europe
- United Kingdom
- Germany
- France
- Italy
- Spain
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Latin America
- Middle-East & Africa