Aquafeed Market Exhibiting at Growth Rate (CAGR) of 8.95% During 2022-2027

According to latest report by IMARC Group, titled "Aquafeed Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," The global aquafeed market size reached US$ 140.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 237.5 Billion by 2027, exhibiting a growth rate (CAGR) of 8.95% during 2022-2027.

Aquafeed include supplement and diet that is prepared to feed aquatic animals, including fishes, crustaceans, and mollusks. It is prepared by combining various raw materials and additives, such as fish oil and feed, that is intended to supply growth-promoting, nutritional and immune-resistant benefits to farm fish. It aids in maintaining effective reproduction and growth levels while enabling them to perform physiological functions easily. It is commonly produced in different forms, including extruded bits and pressure-pelleted feed that are gaining widespread prominence across the globe due to their need-specific and balanced composition and longer shelf life.

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Global Aquafeed Market Demand:

The growing consumption of seafood majorly drives the global market. This can be attributed to the increasing demand for various aquatic species, such as carp, salmon, tilapia, and salmon used to prepare numerous cuisines. In addition to this, the rising awareness regarding the benefits of high-quality seafood is accelerating the sales of improved aquafeed across the globe. Apart from this, the escalating number of fish farming activities, coupled with the increasing preference for organic and natural feeds among the key manufacturers, is contributing to the market growth. Moreover, the easy availability of diversified variants of aquafeed in the market and the rising production of fish, are also creating a positive market outlook.

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Key Market Segmentation:

Breakup by Species:

• Carps
• Marine Shrimps
• Tilapias
• Catfishes
• Marine Fishes
• Salmons
• Freshwater Crustaceans
• Trout
• Others

Breakup by Ingredients:

• Soybean
• Corn
• Fish Meal
• Fish Oil
• Additives
• Others

Breakup by Additives:

• Vitamins and Minerals
• Antioxidants
• Feed Enzymes
• Others

Breakup by Product Form:

• Pellets
• Extruded
• Powdered
• Liquid

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Competitive Landscape:

The competitive landscape of the market has also been examined with the detailed profiles of the key players operating in the market.

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