Global Aquafeed Market is projected to grow at a high CAGR from 2017 to 2024
Aquafeed is used to feed fish, carnivorous fish and crustacean species. Around 72% of the global fish harvested is used as food, this increased consumption of seafood and the growth of the aquaculture industry in recent years has caused market growth. The growth of this market is driven by increased demand for quality sea food and limited supply of marine feed. The market based on end-use is divided into fish, mollusks and crustaceans. The fish segment contributed to the highest consumption of aquafeed, since it is the cheapest and easiest to digest and molluscs are soon to gain higher market share too. Increase in fish farming due to increased demand has also boosted the aquafeed sector. Also, Carp and atlantic salmon farming is a very popular practice presently.
The report is designed to provide a complete view on the global Aquafeed market. The report has been categorised into qualitative and quantitative insights over the forecast period (2017-2024). The demand and supply matrix section falls under the qualitative information category wherein the market dynamics for Aquafeed market has been studied considering a short term forecast of the factors/ variables which have an impact on Aquafeed market. The market segments and their respective estimates & forecasts has been covered under the quantitative information category. Regional estimates and forecasts & trend analysis for each country and region is also available in the study. The report concludes by providing the competitive landscape of the major market participants which are profiled by analysing their organic & inorganic growth strategies, regional presence, and product portfolio among others.
Study Technique: Global Aquafeed Market
The global Aquafeed market has been studied from the year 2016 till 2024. However, the CAGR provided in the report is from the year 2017 to 2024. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process. The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Aquafeed market. The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers. Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company’s manufacturing Aquafeed, and customer analytics.
End-User Landscape (Consumer Profile): Aquafeed Market
Companies such as the Cargill, Nutreco N.V, Ridley Corporation Limited, Avanti Feeds Limited, and Archer Daniels Midland Company among others are investing extensively in the manufacturing and sale of Aquafeed, which presents a huge opportunity to Aquafeed suppliers. The report provides a detailed list of end-users operating across the world. The end-user landscape includes consumer contact details, geographical presence, revenue, product portfolio, organic, and inorganic growth strategies among others.
Global Aquafeed Market: Ingredient Type and Additive Analysis
Based on ingredients, there are fish meal, fish oil, corn, additive and soybean. The soybean segment has outperformed the rest and captures maximum share of the market. Soybean is a great source of protein in aquafeed, energy content and is loaded with digestible amino acids, it is thus used as the primary source of protein for aquafeed. The additives used are Antibiotics, Vitamins, Antioxidants, Amino acids, Feed enzymes and Feed acidifiers. Amino acids are used to replace the required nutrients that some aquatic life lack, they are loaded with protein and important nutrients which define the growth, maintenance and production of aquatic life. Amino acids dominate the aquafeed additive segment. Feed acidifiers are expected to grow the fastest from 2017 to 2024. Feed acidifiers play a major role in controlling diseases caused by dangerous bacteria such as E.coli and Salmonella.
Cargill, Nutreco N.V, Ridley Corporation Limited, Avanti Feeds Limited, Archer Daniels Midland Company, Nutriad, Aller Aqua A/S, And Biostadt India Limited among others account for the major share in Aquafeed market. Companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position. The other companies profiled in the report include: Purina Animal Nutrition (Land O’ Lakes Inc.), Alltech, DE Heus Animal Nutrition, Biomin Holding GMBH, Dibaq A.S, Biomar, and Norel Animal Nutrition.
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