Market Research Report
Aquafeed provides a balance nutrition to fish and and plays a significant role in the commercial aquaculture industry. It is available in various forms including pellets, granular, powder and liquid and is a key element in the growth of fish. The aquafeed is combined with other ingredients including cereal grains, vitamins, minerals and protein. Moreover, aquafeeds are meals prepared for aquatic animals by composition of various raw materials and additives and are prepared based on types of species and age of the animals.
The global aquafeed market is estimated and forecasted in terms of volume (KT) and revenue (USD million) generated by the market. The global aquafeed market is primarily driven by increasing import & export and demand for fish globally. Moreover, rising awareness of fish as a part of healthy & nutritional diet and increasing research & development in the field of fare factors are anticipated to fuel the aquafeed market during the projected period. Additionally, significant shift of the people toward fish farming and rising demand for fish protein are the driving the aquafeed market. The major factors hindering the growth of the market is the strict government policies & regulation and increasing prices of raw material.
Ingredient, end user, additives and geography primarily segment into, the global aquafeed market report. The report analyses the global aquafeed market by ingredients into soybean, corn, fish meal, fish oil, additives and others. The soybean segment is projected to be the fastest-growing segment in the aquafeed market. This growth is attributed to easy availability and available commercially at low price as compared to other ingredients. It is a rich source of protein and contains high amount of digestible amino acids and xanthophylls which are necessary for the growth of the fish.
The global aquafeed market on basis of end user is bifurcated into fish, mollusca, crustaceans and others. The fish segment is further divided into tilapia feed, salmon feed, carp feed and catfish feed. Mollusks includes oyster feed and mussel feed. Likewise, crustaceans include shrimp feed and crab feed. In 2017, the fish segment dominated the global aquafeed market, owing to rise in production of various fish and consumption of fish in different cuisines globally.
Based on additives, the global aquafeed market is bifurcated into, antibiotics, vitamins, antioxidants, amino acids, feed enzymes, feed acidifiers and others. Other feed additives include acidifiers and probiotics & prebiotics. Feed additives are food supplements added to the poultry feed to ensure that the animals get enough nutrients from regular meals. Increasing health consciousness among the consumers world and rising demand for health and safe seafood drives the aquafeed market. Additionally, Amino acids segment lead the global aquafeed market in 2017. Factors such as development in the aquafeed techniques and rising concern of the consumers to maintain the nutritional level in the fish are boosting the market growth.
By geography aquafeed market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and Rest of the world. Europe accounted for the largest share in the aquafeed in 2017. Rapid industrial and development in the fish farming sector and rising income and expenditure of the expanding middle class in developing nations are the major factors propelling the growth of aquafeed market in Europe.
Some of the key participants in global aquafeed market are Archer Daniels Midland Company, Ridley Corporation Limited, Avanti Feeds Ltd, Nutreco N.V, Cargill, Incorporated, Purina Animal Nutrition (Land O’ Lakes Inc.), Alltech, Biostadt India Limited, Nutriad, Aller Aqua Group, BioMar Group, Biomin Holding GmbH, Dibaq a.s., Norel S.A, DE HEUS. Customise product development and product innovation are the major strategies used by the market players to reinforce the position in the market. Most of the prominent players in the aquafeed market focus on expansion, acquisitions and new product development strategies to ensure substantial presence in the market.
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