Global Aquaculture Feed Market Size, Drivers, Trends, Opportunities And Strategies
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Rising seafood consumption is likely to stimulate innovation in aquaculture feed manufacturing, propelling the market during the forecast period.
The global aquaculture feed market is expected to grow from $69.90 billion in 2022 to $76.52 billion in 2023 at a compound annual growth rate (CAGR) of 9.5%. The global aquaculture feed market size is expected to reach $103.60 billion in 2027 at a CAGR of 7.9%.
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Global Aquaculture Feed Market Segments Include:
- By Product Type: Pellets, Extruded, Powdered, Liquid
- By Ingredient Type: Soybean, Corn, Fishmeal, Fish Oil, Additives, Other Ingredients
- By Species Type: Carp, Marine Shrimps, Tilapias, Catfishes, Marine Fishes, Salmons, Freshwater (FW) Crustaceans, Trouts, Other Species
- By Distribution Channel: Store Based, Online
- By End User: Commercial, Household
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global aquaculture feed market in 2021.
Major Market Players in the aquaculture feed market include Alltech Inc., The Archer-Daniels-Midland Company, Cargill Inc., Land O’Lakes Inc., Nutreco N.V., Charoen Pokphand Foods PCL, Aller Aqua AS, Schouw & Co. AS, Avanti Feeds Limited.
Product innovations are a prevalent trend in the aquaculture feed business. To maintain their market position, major companies in the aquaculture feed market are focusing their efforts on developing innovative products. For example, INVE Aquaculture, a Belgian aquaculture feed manufacturer, will debut Natura pRo and ExL feed lines in December 2021, the first ever rotifier substitute diets. It enables hatcheries to cut their rotifer requirements in half, improving fry quality and survival rates. It also provides technical and nutritional assistance from the beginning of exogenous feeding till weaning. The Natura pRo formulation gives careful consideration to ingredient selection in order to ensure high nutritional digestion and palatability, ensuring that the feed is appealing to larvae from the outset of exogenous feeding.
The Aquaculture Feed Global Market Report 2023 provides a aquaculture feed market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The aquaculture feed market forecast analyzes aquaculture feed market size, aquaculture feed market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The food provided to aquatic species in a regulated setting to assure their growth, health, and productivity is referred to as aquaculture feed. The goal of aquaculture feed is to fulfil dietary requirements for the species in order to maintain a highly effective natural immune system and breeding.
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