Press release
Aquafeed Market Size, Share, Growth, Industry Trend, Key Players Update and Business Analysis, 2022
Aquafeed Market is expected to grow at CAGR of 7% backed by increase in awareness among farmers about benefits of feeding the aquaculture with commercial aquafeed. Availability of nutrition rich ingredients and increasing aquaculture activities are other market growth factors. Consumers are preferring the aquaculturaly raised fishes over normal fishes, this change in consumption pattern is influencing the demand for quality aquafeed from aquaculture firms.
Ingredient quality is major factor in formulation of superior aquafeed as characteristics can affect all aspect of aquatic animal culture. The use of alternative protein source will be a major issue in aquafeed formulation which will increase demand for fishmeal in upcoming years. A variety of such sources has been evaluated as partial or complete fishmeal replacers in aquafeed. Most common among these is soybean meal.
The growth of Aquafeed Market will also depend upon establishment of sustainable production operations with focus on natural ecological factors along availability of resources. High demand for fishmeal and its shortage has resulted in significant increase in use of various alternate protein ingredients. Significant differences has been noticed in aquafeed production starting from feeding habit to actual dietary fishmeal consumption
This report includes a study of strategies, of major market players. It includes the product portfolios, developments of leading major players such Cargill Inc. (U.S.), BioMar Group (Denmark), Waterbase Ltd (India), BASF (Germany) are Alltech Inc. (U.S.), Coppen International BV (Netherlands), Ridley Corporation (Australia), Zeigler bros. Inc. (U.S.), Evonik Industries (Germany) and Marvesa (Netherland)
The study includes detailed market analysis of aquafeed market encompassing its macro and micro-markets. It covers market segmentation by aquatic species, ingredients, additive type, and life cycle. It helps in identifying region-wise major suppliers and understand consumption patterns. The report will provide useful and premium insights that will support in investments for aquafeed consumption and allied companies providing details on the fast growing segments and regions.
In addition, it will provide key findings that will help the companies to improve profitability by using supply chain strategies, cost effectiveness of various products mentioned in the report. The data used in the report is primarily based on primary interviews with the major producing companies and industry experts and also supported by authentic industry data from secondary sources. Secondary data reveals that the aquafeed exports is projected to grow more than 2% annually post the year 2022. The top 5 exporters of aquafeed are U.S., Netherlands, Belgium, Germany and France. Major aquafeed manufacturers have focused on the use of dietary enzymes to impart greater nutrient digestibility/availability to the aquafeed
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