Aquafeed Market Size, Share, Trend, Global Analysis, Gross Margin, Key Players Review and Forecast to 2023

Market Overview:

Aquafeed is primarily known as fish feed, which is commercially produced to feed various aquatic species. It provides a complete diet for fish and other aquatic species and assists in providing the required nutrients to them. The various aquatic species include Carps, Molluscs, Shrimps, Crustaceans, Catfish, Trouts, and others. Aquafeed contains various ingredients such as wheat, corn, pulses, and oilseeds in which different feed additives are applied to enhance the functionality of the aquafeed. It is provided to the aquatic animals based on their life cycle. 

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.

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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.

Major Key Players Analysis:

This report includes a study of strategies, of major market players. It includes the product portfolios, developments of leading major players such BioMar Group (Denmark), Cargill Inc. (U.S.), 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)

Reasons to Buy:

The study includes detailed market analysis of aquafeed market encompassing its macro and micro-markets
It covers market segmentation by Ingredients, Aquatic Species, 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
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Key Findings:

Secondary data reveals that the aquafeed exports is projected to grow more than 2% annually post the year 2023
The top 5 exporters of aquafeed are U.S., Belgium, Netherlands, 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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This release was published on openPR.