India Aquafeed Market Size to Reach 2.8 Million Tons 2023-2028 | Industry CAGR of 9.7%

According to the latest report by IMARC Group, "India Aquafeed Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", The India aquafeed market size reached 1.6 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 2.8 Million Tons by 2028, exhibiting a growth rate (CAGR) of 9.7% during 2023-2028. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Aquafeed represents specialized feed formulations that are given to aquatic farmed animals. They are prepared utilizing several ingredients, such as soybean, fish meal, corn, additives, fish oil, etc. Aquafeed products are rich in vitamins, amino acids, fatty acids, etc., that offer an extensive variety of growth-promoting, nutritional, and immune-resistant benefits to the farmed aquatic animals. Consequently, they are in widespread demand across India.

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India Aquafeed Market Trends and Drivers:

The expanding health consciousness among individuals and the increasing awareness about the advantages of consuming aquafeed are primarily driving the India aquafeed market. Additionally, the elevating improvement in cold chain facilities that have allowed seafood sales to expand from local wet markets to organized retail channels is acting as another significant growth-inducing factor. Furthermore, the shifting preferences toward natural and organic feeds that have prompted manufacturers to incorporate high-quality raw materials which provide functional benefits and eliminate synthetic components are also positively influencing the market across the country. Apart from this, the escalating focus among leading market players on improving the stability of feed pellets, lowering fine proportion, and enhancing pellet density and extension is further stimulating the Indian market. Moreover, the rising requirement for commercially manufactured feed as compared to homemade products, owing to the improved bioavailability of numerous nutrients and reduced environmental pollution, the growing mass production of fish, and the launch of various favorable subsidies by the government bodies for fish and shrimp farmers aimed at promoting seafood production and farming activities are expected to propel the India aquafeed market over the forecasted period.

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Species:

Carp Feeds
Marine Shrimps
Tilapias
Catfishes
Marine Fishes
Salmons
Freshwater (FW) Crustaceans
Trouts
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 India
West and Central India
South India
East India

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

For more information about this report visit: https://www.imarcgroup.com/india-aquafeed-market

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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