Aquafeed Market: All Set to Rise with a Lucrative Growth by 2022

Global aquafeed market was valued at $64.9 billion in 2015, and is expected to reach $156 billion by 2022, supported by a CAGR of 13.3% during the forecast period 2016 to 2022.

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Increasing global seafood consumption and growing consumer awareness on quality of seafood products are boosting the aquafeed market growth. Furthermore, rising per capita income, especially from developing nations, is expected to maintain the growth of aquaculture and aquafeed industry.

Aquafeed is a compounded meal that consists of various raw materials and additives, which provides nourishment and enhances overall growth & productivity of aquatic animals. The global aquafeed market is expected to grow at a considerable rate due to rising seafood consumption, increasing consumer concerns and regulatory pressure to maintain high quality of fishes to avoid any outbreak of diseases (salmonella, botulism, melioidosis). Rising commercialization of seafood across rural and urban regions are expected to further boost the market growth. However, factors such as increasing raw material prices (fish meal, fish oil, wheat barley including others) and stringent regulatory structures formulated for manufacturing aquafeed additives, would hinder the market growth.

The Asia-Pacific and LAMEA aquafeed market would offer lucrative growth opportunities during the forecast period, owing to increase seafood consumption, food safety concerns and rise in disposable income. In the Asia-Pacific market, China is the major aquafeed producer followed by Indonesia, Thailand, and India. South Africa and Brazil, in LAMEA, would exhibit a high CAGR of 14.1% and 13.9% (value terms), respectively. The European Union enforces the aquafeed industry in Brazil, which is a major exporter of seafood to Europe, to opt for better & safe feed additives and raw materials, thereby fuelling the growth of this market.

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Key findings of Aquafeed Market:

Crustaceans is projected to be the fastest growing segment in global aquafeed market registering a CAGR of 13.7% (value terms) during 2016 and 2022.

Amino acid is projected to be the fastest growing additive segment in aquafeed additives market registering a CAGR of 7.9%.

Carps held 39.9% market share in the fish segment in 2015, in terms of volume.

Asia-Pacific is projected to occupy the highest market share with a CAGR of 13.1%.

China would continue to lead the aquafeed market at a CAGR of 12.3%.

Brazil held more than half of the market share in the LAMEA region in 2015, whereas South
Africa intends to grow at a CAGR of 14.1% during the period under consideration

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