Fish Feed Pellet Making Machine Market Soars with 5.6% CAGR, Anticipated to Reach US$ 2,167.9 Billion by 2033

During the projected time frame, the fish feed pellet making machine market is poised to demonstrate a Compound Annual Growth Rate (CAGR) of 5.6%. By the conclusion of 2033, the market is anticipated to reach a valuation of US$ 2,167.9 million, representing a substantial increase from the estimated US$ 1,257.2 million in 2023. In the year 2022, the market is expected to achieve a valuation of approximately US$ 1,190.5 million. Furthermore, in 2023, it is projected to experience a year-on-year growth rate of 4.3%.

A fish feed pellet making machine is a specialized device designed for the production of pellets using powdered fish food. This machinery is predominantly employed by commercial fish farmers to ensure a uniform and nutritionally balanced diet for their aquatic stock. Notably, the pellets generated by a fish feed pellet making machine are typically smaller in size compared to those produced by alternative machinery, such as those utilized in livestock feed production.

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As per FMI, increasing export of fish and other seafood products from various countries across the globe is likely to drive sales in the market. In emerging economies, international companies are expected to enter for capturing the overall industry.

Moreover, increasing demand for organic farming owing to rising awareness regarding the importance of sustainability, as well as animal welfare is set to augment sales. Thus, fish farmers are practicing organic farming methods to provide chemical free and genetically modified products.

Rising inclination of consumers towards organic food items is projected to compel key manufacturers to expand their production capacity of organic feed. Changing eating habits and lifestyles of consumers in both developed and developing countries are the other factors that would accelerate sales in the market.

- Key Takeaways from the Fish Feed Pellet Making Machine Market Study:

Top 3 countries in the global fish feed pellet making machine market are projected to generate a share of 8% in the next ten years.
The global fish feed pellet making machine market is estimated to be valued at US$ 1,190.5 million by the end of 2022 from a valuation of US$ 1,006.0 million in 2018.
The USA fish feed pellet making machine market is anticipated to generate the lion's share of nearly 8% by 2033.
Germany fish feed pellet making machine market is predicted to account for a considerable share of about 3% in Europe during the estimated time frame.
In Asia Pacific, India is likely to witness moderate growth and exhibit a CAGR of 3% from 2023 to 2033.

"Key companies in the fish feed pellet making machine market are anticipated to invest huge sums in the manufacturing of dry pelleted fish feed. This type of feed is projected to be extensively used for improving digestibility and balance of nutrients for matching specific needs of various fish species," says a lead analyst at Future Market Insights.

- Key Players Operating in the Industry:

CPM Asia
Andritz Group
Buhler AG
Salmco Ltd.
Zhengchang Group
LIMA Machinery
Darin
Jinan Baimai Haiyuan Extrusion Machinery
Sunspring Machinery

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- Market Segementation:

By Type:
Ring Die Pellet Mill
Flat Die Pellet Mill

By Application:
Small-Scale Aquaculture
Large-Scale Aquaculture
Others

By Sales Channel:
Online
Offline

By Region:
North America
Europe
Asia Pacific
Latin America
MEA
RoW

About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Future Market Insights Inc.
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Website: https://www.futuremarketinsights.com

This release was published on openPR.