Asia Pacific Aquafeed Market Size 2023-2028, Share, Demand, Trends and Outlook by IMARC Group | Charoen Pokphand Group, BioMar, Aller Aqua, Tongwei Co. Ltd and More

IMARC Group has recently released a new research study titled "Asia Pacific Aquafeed Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028", offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.

Industry Outlook: Market Size and CAGR:

The Asia Pacific aquafeed market size reached 44.7 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 70.6 Million Tons by 2028, exhibiting a growth rate (CAGR) of 7.8% during 2023-2028. Aquafeeds represent the compounded meals that are arranged to feed various aquatic animals by combining several raw materials, including fish feed and oil and additives. These blends are formulated and provided according to the specific requirements of the species and their age. Aquafeed is produced in two forms, such as pressure-pelleted and extruded bits. It plays a critical role in providing average growth and health for the aquatic organisms. Aquafeed also aids in decreasing the susceptibility to disease, mitigating the effects of stress, and improving the immunity. 

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Market Trends:

The escalating consumption of seafood across various countries, such as China, Thailand, Vietnam, Indonesia, Malaysia, South Korea, Japan, etc., is among the primary factors driving the Asia Pacific aquafeed market. Besides this, the inflating income levels of the consumers and the transition from a high carbohydrate-based diet to one that is rich in proteins are further augmenting the market growth. Moreover, the availability of vast arable areas to cultivate corn, soybean, wheat, and maize which are the main ingredients used for the production of aquafeed, the rising production of fish, and the limited accessibility of marine feed resources are also catalyzing the market across the Asia Pacific.

Apart from this, the launch of several policies by the government bodies to increase the manufacturing of certified sustainable #seafood is acting as another significant growth-inducing factor. Furthermore, the growing preference for nutrient-rich products produced with higher farming standards, owing to the increasing health consciousness among the masses, is expected to bolster the Asia Pacific aquafeed market in the coming years.    

Asia Pacific Aquafeed Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape with Key Players:                                           

The competitive landscape of the Asia Pacific aquafeed market has been studied in the report with the detailed profiles of the key players operating in the market.

Major Players Covered:

• Charoen Pokphand Group
• BioMar
• Aller Aqua
• Tongwei Co. Ltd
• Cargill
• Ridley Corporation
• Alltech Coppens B.V.
• Nutreco N.V

Explore Full Report Description At: https://www.imarcgroup.com/asia-pacific-aquafeed-market

Key Market Segmentation:

The report has segmented the Asia Pacific aquafeed market on the basis of ingredient, additives, product form, end user and region.

Based on Ingredient:

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

Based on Additives:

• Amino Acids
• Antibiotics
• Vitamins
• Feed Acidifiers
• Others

Based on Product Form:

• Pellets
• Extruded
• Powdered
• Liquid

Based on End User:

• Carps
• Shrimp
• Tilapia
• Mollusks
• Catfish
• Salmon
• Lobsters
• Others

Regional Analysis:

• China
• Indonesia
• Japan
• Bangladesh
• Thailand
• India
• Malaysia
• South Korea
• Others

Ask Analyst for 10% Free Customized Report: https://www.imarcgroup.com/request?type=report&id=1263&flag=C

Key Highlights of the Report:

• Market Performance (2017-2023)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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Country: United States
Website: https://www.imarcgroup.com

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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This release was published on openPR.