2024 Global Aquafeed Market Report: Key Drivers, Size, and Leading Segments
Save up to 30% on The Business Research Company’s comprehensive market research reports for a limited time only!
What Growth Rate is Predicted for the Aquafeed Market for 2024-2033?
The size of the aquafeed market has seen significant expansion in the past few years. It is anticipated to increase from $91.05 billion in 2023 to $99.02 billion in 2024, with a compound annual growth rate (CAGR) of 8.8%. Factors such as aquaculture development, surging seafood consumption, growing understanding of health advantages, global protein requirement, and sustainable aquaculture methodologies can be credited for this growth in the historical period.
The aquafeed market is projected to experience robust expansion in the coming years, rising to a stunning $138.75 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 8.8%. Growth during the projected period is expected to be driven by factors like intensification of aquaculture, expanding middles class demographics, prevention of diseases in aquaculture, adaptation to climate change, and assurance of quality and safety. The forthcoming period is expected to bring about trends like precision feeding technologies, customized feeds for specialized aquaculture, blockchain application for traceability, biofortified feeds, and the incorporation of digital technologies.
Claim Your Free Sample of the Global Aquafeed Market Report Today!
https://www.thebusinessresearchcompany.com/sample.aspx?id=5855&type=smp
What Drivers Are Enhancing the aquafeed Market’s Growth?
The surge in the consumption of seafood is predicted to accelerate the expansion of the aquafeed market. As the role of aquaculture production becomes more prevalent in catering to human fishery product needs, this impact is amplified. Human fish consumption is expected to rise by 180 Mt by 2029, as per research by the Organization for Economic Co-operation and Development (OECD) and the Food and Agriculture Organization (FAO). This uptick in demand for seafood or fishery products is anticipated to stimulate the need for superior aquafeed to ensure product quality for end-users. Consequently, the mounting consumption of seafood is a key driver fueling the growth of the aquafeed market.
What Segments Are Central to the Aquafeed Market?
1) By Additives: Vitamins, Antioxidants, Amino Acids, Enzymes, Acidifiers, Binders
2) By Form: Dry Form, Wet Form, Moist Form
3) By Distribution Channel: Direct Sales, Indirect Sales, Hypermarket/supermarket, Wholesalers, Online, Other Distribution Channel
What Emerging Trends Are Influencing Aquafeed Industry Dynamics?
The aquafeed market is increasingly observing the trend of technological innovations. Businesses in the sector are concentrating on creating groundbreaking products with superior nutrition and enhanced feed conversion rates. In a recent endeavor in September 2022, Secma Cabon Solution Vide, a French firm specializing in equipment design and construction, introduced its unique aquafeed delivery system, MultyWays, along with their patented developments namely, The CleanPipe system, DosAir, and Multiway valves. These three components work together to maximize production efficiency and profitability. MultyWays not only boosts yield and enables more frequent daily feedings but also allows farmers to allocate more time for other tasks, thereby cutting down labor costs, reducing manual handling, and mitigating accidents caused by regular feeding activities.
Order Now for Fast Delivery of Your Aquafeed Market Report!
https://www.thebusinessresearchcompany.com/report/aquafeed-global-market-report
Which Geographic Locations Are Critical to the Growth of the Aquafeed Market?
Asia-Pacific was the largest region in the aquafeeds market in 2023. North America is expected to have the highest CAGR in aquafeeds market. The regions covered in the aquafeed market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Aquafeed Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the aquafeed market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Aquafeed Market Include
1. Aquafeed Market Executive Summary
2. Aquafeed Market Segments
3. Aquafeed Market Size And Template Market Growth Rate
4. Key Aquafeed Market Trends
5. Major Aquafeed Market Drivers
……
25. Key Mergers And Acquisitions In The Aquafeed Market
26. Top Aquafeed Companies
27. Aquafeed Market Opportunities And Strategies
28. Aquafeed Market, Conclusions And Recommendations
29. Appendix
Discover Related Reports by The Business Research Company:
Diving Equipment Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/diving-equipment-global-market-report
Feed Processing Equipment Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/feed-processing-equipment-global-market-report
Animal Growth Promoters And Performance Enhancers Global Market Report 2024
Learn More About The Business Research Company
The Business Research Company has published over 15000+ reports in 27 industries, spanning 60+ geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on:
