Global Aquafeed Market-Industry Analysis and Forecast (2019-2026)
Global Aquafeed Market was valued US$ 110.52 Bn in 2018 and is expected to reach US$ 230.12 Bn by 2026 at a CAGR of 9.6 % during the forecast period.
The emergence of new species in aquaculture and the growth of fish farming is creating new revenue avenues for the players operating in the market. The new fish species which includes meagre, amberjack, and wreckfish are more dependent on commercially manufactured compound feeds.
Introduction of new algae aquaculture feed ingredient as the replacement of fishmeal and fish oil with plant-based materials, which are low in docosahexaenoic acid (DHA) in formulated feeds. More than 70 per cent of fish meal protein is replaced with soybean meal without adding squid meal, krill meal, and attractants. Soybean meal increases the proteins in the human body by decreasing the oils that cause health issues. Data collection and dissemination is a key element for monitoring the status and trend of ornamental fish culture. If the volume and diversity of trade are better known, it will be possible to tackle other relevant issues that can lead to environmental and economic benefits for production in the aquafeed marketplace. Demand for salmonid feeds will be almost static, and it increases in aquaculture production being compensated by improvements in food conversion ratio (FCR). Equally, the market for commercial feeds is expected to increase for catfishes and other carnivorous fishes.
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Based on the ingredients type, the soybean segment is expected to account for the largest share in the aquafeed market during the forecast period. Soybean is an excellent source of protein for aquafeed, it contains about 48% high-quality protein. It is also rich in digestible amino acids and xanthophylls, because of its high nutrient level, it is extensively used as an important protein source in the production of aquafeed.
Based on the end user, the fish segment held the largest share in 2016 and is estimated to show the fastest growth rate during the forecast period. Fish is the low-cost and most easily digestible animal protein. The rise in fish farming activities and aquaculture has led to increased demand for fish feed. Additionally, the adoption of artificial settings like Recirculating Aquaculture System (RAS) and Aquaponics to increase fish production and its availability for consumption is generating the demand for aquafeed.
Asia-Pacific Dominates the Global Market. Asia-Pacific is the largest aquafeed market in 2018, accounting for over 53% of the global market‘s revenue, and constituting more than 58% of the overall aquafeed consumption. The highest growth for fish consumption is expected from the Asia-Pacific and Latin American regions because of changing diet patterns, urbanization, population, and economic growth.
For example, the Chinese demand for fish continues to surpass the domestic supply, as stated by Agriculture and Agri-food Canada. North America and Europe, which have relatively small aquaculture industries, have a high demand for fish and other seafood products and depend on Asian producers to meet their demands.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analyzing the market segments by solution type, end user, and region and, project the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Aquafeed market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
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Scope of Global Aquafeed Market
Global Aquafeed Market, By End User
• Fish
• Mollusks
• Crustaceans
Global Aquafeed Market, By Ingredient
• Soybean
• Corn
• Additives
• Fish meal
• Fish oil
Global Aquafeed Market, By Additive
• Antibiotics
• Vitamins
• Antioxidants
• Amino acids
• Feed enzymes
• Feed Acidifiers
Global Aquafeed Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global Aquafeed Market
• Archer Daniels Midland Company
• Cargill
• Alltech
• Ridley Corporation Ltd.
• Nutreco N.V
• Avanti Feeds Ltd.
• Biostadt India Ltd.
• Nutriad
• Aller Aqua A/S
• BioMar
• BIOMIN Holding GmbH
• Norel Animal Nutrition
• De Heus Animal Nutrition
• Dibaq a.s
MAJOR TOC OF THE REPORT
Chapter One: Aquafeed Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Aquafeed Market Competition, by Players
Chapter Four: Global Aquafeed Market Size by Regions
Chapter Five: North America Aquafeed Revenue by Countries
Chapter Six: Europe Aquafeed Revenue by Countries
Chapter Seven: Asia-Pacific Aquafeed Revenue by Countries
Chapter Eight: South America Aquafeed Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Aquafeed by Countries
Chapter Ten: Global Aquafeed Market Segment by Type
Chapter Eleven: Global Aquafeed Market Segment by Application
Chapter Twelve: Global Aquafeed Market Size Forecast (2019-2026)
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