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Aquafeeds are feeds for any aquatic organisms. They can be in the form of pellet, mash, or crumble feeds. It is a mixture of raw materials, additives, and other supplements, sourced from natural or synthetic sources and fed to farmed fish. It supplies the nutritional requirements for their normal physiological functions. The growth of the Europe Aquafeed market is driven by high seafood consumption in the European nations along with rising awareness on protein content regarding fish food. Furthermore, a significant increase in feed efficiency and nutrient consumption by aquatic species is expected to positively contribute to the growth of the market.
The growth of the Europe Aquafeed market is driven by high seafood consumption in Europe. According to EUMOFA 2015, the average fish consumption per capita in the EU is the second highest in the world (at around 22 kg/capita/year), and some individual EU Member States have among the highest rates in the world. Europeans favour wild fish. In 2014, around 75 % of fisheries and aquaculture products consumed in the EU came from marine capture fisheries, which remains consistent with trends over the last decade. Thus, high seafood consumption is expected to create a demand for aquafeed. This is expected to drive the growth of the market over the forecast period. Furthermore, the rise in imports of seafood is expected to positively impact the growth of the market. The total value of seafood imports to Europe in 2020 was $54.8 billion. Seafood imports have been on the rise since 2015, peaking at $58.0 billion in 2018. Thus, rise in import of seafood is anticipated to contribute to the growth of the market.
The European Commission has introduced new species, programs, and strategies for boosting aquaculture. It is expected to positively impact the growth of the market. Also, the rise in health awareness has led to an increase in the consumption of organic products. It is expected to provide new growth opportunities for key players operating in the market. For instance, in the main EU countries surveyed by the European Market Observatory for Fisheries and Aquaculture (EUMOFA), Germany, Spain, France, Italy and the UK, 46,500 tonnes of unprocessed fishery and aquaculture products consumed in 2019 originated from organic production. This was a 3% increase from 2018.
The rise in raw material costs as the majority of high-quality feed is prepared with fish meal and fish oil is likely to hamper the growth of the market. Additionally, an increase in concern for the environment and sustainability, as many fish are produced in public water bodies is key factor that expected to restrain the growth of the market over the forecast period.
A limited knowledge regarding the nutritional requirements of fish and crustacean species may negatively impact the growth of the market. Also, the COVID-19 pandemic is expected to challenge the market growth over the forecast period.
The report provides an in-depth analysis of the Europe Aquafeed market, market size, and compound annual growth rate (CAGR) for the forecast period of 2023-2029, considering 2022 as the base year. An increase in health awareness has led to rise in demand for Aquafeed in various applications, and therefore, the market is expected to witness growth at a specific CAGR from 2023-2029.
The Europe Aquafeed market comprises of different market segments like additives, form, feed, end users and country
By additives, the Europe Aquafeed market includes the key segments like
The amino acid segment is expected to dominate the market over the forecast period. Amino acids offers improved immunity, improved larval performance, optimized metabolic transformation efficiency in fish, increased tolerance to environmental stress, and, improves time spawning. It also helps in improvement of the taste and texture of fillets when added to aquafeed.
The antibiotics segment is expected to witness high growth over the projected time period. Antibiotics are the commonly used additives in aquafeed. They promote better growth by improving overall health and are used to maximize productivity and efficiency.
By form, the Aquafeed market includes segments like
The dry form is expected to lead the market over the forecast period. Dry aquafeed products are very palatable. Its ability to increase the fish feed conversion ratio is a key factor fuelling the growth of the segment.
The wet form is projected to witness high growth over the forecast period. Wet food is a commonly used form of water-based food. They are made with ingredients with a high moisture content, such as slaughterhouse waste, undried feed and peach waste. These wet foods are mainly intended for use in carnivorous fish such as sea bream, bass and eel, among others.
By feed, the Europe Aquafeed market includes key segments such as
The grower feed segment is expected to dominate the market over the forecast period. Rise in use by animals aged 6 to 20 weeks to meet their nutritional needs is a key factor that is expected to drive the growth of the segment. Grower feed is given to the animal until it is ready to start breeding and laying eggs.
The finisher feed segment is expected to witness high growth over the forecast period. Finisher food is usually given to adult fish/animals over 20 weeks old. It provides the nutrients that meet the animal's key needs. It provides a high level of energy, so that normal activities run smoothly.
The Europe Aquafeed market includes major end users like
The carp segment is expected to dominate the market over the estimated time period. The growth rate of the segment can be attributed to the increasing consumption of this strain for its associated health benefits, such as strengthening immunity, improving heart health, managing chronic disease, and protecting gastrointestinal functions.
Furthermore, the catfish segment is expected to witness high growth over the forecast period. Catfish is raised in freshwater ponds with rice, corn and soy as water fodder. It is the preferred group of farmed aquaculture species due to its ease of cultivation in less than ideal climatic conditions. The rise in demand for catfish due to its rich content of vitamin D and omega-6 fatty acids is expected to increase the demand for aquatic feed.
The Europe Aquafeed market is studied for the following countries
Germany is expected to dominate the market over the forecast period. The rising seafood consumption and presence of a well-developed aquaculture industry are key factors driving the demand for aquafeed in the region. According to Fisch-Informationszentrum (FIZ), in 2017, the per capita consumption of seafood increased from 13.5 kilograms to 14.2 kilograms. Also, high import of seafood products is expected to positively impact the growth of the market. For instance, in 2017, import of seafood reached 1.9 million metric tons (MMT) supplemented by domestic production of 0.3 MMT. Total distribution of fish and fishery products in Germany in 2016 was 2.2 Mio. Metric Tons (MT).
France is anticipated to witness high growth during the estimated time period owing to rising seafood consumption and supportive government initiatives and schemes. Seafood sales in France increased by around 12%, in value, from 2018 to 2021. Thus, high seafood consumption is expected to drive the growth of the market in the country.
Axiom MRC provides a 360-degree analysis of micro and macro-economic factors on the Europe Aquafeed market. In addition, a complete analysis of changes in the Europe Aquafeed market’s expenditure, economic, and international policies on the supply, and demand side is provided in this exclusive report. The report also studies the impact of pandemic on Europe’s economies, international trade, business investments, GDP, and the marketing strategies of key players present in the market.
The COVID-19 pandemic has created severe challenges for the growth of the market, Food and seafood safety and security were key challenges and causes of concern for the food industry and consumers during the pandemic. The pandemic has emphasized the need for optimum nutrient uptake and its role in building immunity. The high nutritional content of fish (fish oil, vitamins, mineral) is helpful as potential inhibitors and adjuvants as part of COVID-19 therapy, making the inclusion of fish potentially beneficial for COVID-19 quarantine, and quality proteins from fish are known for their ability to strengthen immunity. It is expected to stimulate the demand for aquafeed products.
The competitive landscape analysis of the Europe Aquafeed market is primarily focused on expanding the growth of the Aquafeed industry in the Europe region with new product innovation, and business expansion. An increasing range of manufacturers operating in the aquafeed sector has led to growing demand for the market. Besides, the market offers range of products in different applications to fulfil the required demand of consumers, which further contributes healthy growth in the market.
The key players studied in market are
August 2022: Skretting partnered with eniferBio to strengthen the future steps for testing PEKILO protein in Atlantic salmon and rainbow trout. This biannual competition acknowledges the best breakthrough innovations in aquaculture.
September 2021: The Conservation Fund’s Freshwater Institute and had partnered with Cargill to evaluate and enhance feeds for the growing land-based aquaculture industry. The partnership validated the effectiveness of Cargill’s new diet for Atlantic salmon.
By additives, the Europe Aquafeed market includes the key segments like antibiotics, vitamins and minerals, antioxidants, amino acids, feed acidifiers, anti-parasitic, enzymes and probiotics and prebiotics and others. The amino acid segment is expected to dominate the market over the forecast period. By form, the Europe Aquafeed market include segments like dry, moist and wet. The dry segment is expected to lead the market over the estimated time period. By feed, The Europe Aquafeed market includes segments such as starter feed, grower feed, finisher feed and brooder feed. The grower feed segment is expected to dominate the market over the forecast period. The market has major end users like carp, rainbow trout, salmon, crustaceans, tilapia, catfish, sea bass, grouper and molluscs and others. The carp segment is expected to dominate market during the forecast period. The Europe Aquafeed market is studied for countries like Germany, U.K, France, Italy, Spain, and the Rest of Europe. Germany is expected to dominate the market over the forecast period.
| Market
Sizing for Year: | 2019-2029 |
| Base
Year: | 2022 |
| Forecast
Period: | 2023-2029 |
| Value: | USD million |
| Market
Segment studied: | Additives Form Feed End Users |
| Market
Players and its Competitors: | Ridley
Corporation Limited Cargill,
Incorporated BioMar
Group Charoen
Pokphand Foods Public Company Limited NUTRECO
N.V. Alltech Avanti
Feeds Limited AKER
BIOMARINE Biomin
GmbH Coppens
International B.V. Purina
Animal Nutrition LLC Archer
Daniels Midland Company Charoen
Pokphand Foods PCL BENEO
GmbH INVE
Aquaculture |
FREQUENTLY ASKED QUESTIONS
What would be forecast period in the market report?
2023-2029 is the forecast period in the market report
Which is the leading form segment for Europe Aquafeed market?
The dry form segment is expected to lead the market during the forecast period
Which country is gaining majority of market share during the forecast period (2023-2029)?
Germany is expected to gain a major share of the market during the forecast period (2023-2029).
