At a CAGR of 5.6% Aquafeed Market is projected to reach $131,926.4 million by 2030| Opportunity Analysis and Industry Forecast

Aquafeeds are compounded meals prepared for aquatic animals by mixing various raw materials and additives. These blends are prepared according to specific requisite of the species and age of the animal. Aquafeed has become crucial to aquaculture industry due to its nutritional, immune resistant, and growth promoting properties. High quality aquafeed is exponentially more beneficial to fish, mollusks, crustaceans, and other aquatic animals than farm-made feed due to their balanced and need-specific composition.

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Majority of the sea food demand is catered by the U.S. market. National Marine Fisheries Service has implemented stringent regulatory frameworks for fishing industry production, usage, and marketing, which has made the aquafeed market more organized and modern. Recently, the U.S. banned the use of antibiotics as growth promoters in feed additives for aquatic animals. Owing to this ban, other natural alternatives have increased the demand for essential oils, as they serve the purpose of required production outputs with cost benefits, thus increasing the demand for aquafeed.

Increase in global seafood consumption and surge in consumer awareness on quality of seafood products have boosted the aquafeed market growth. Furthermore, rise in per capita income, especially in developing nations, is expected to maintain the growth of aquaculture and aquafeed industry. In the long-term, rise in raw material costs is projected to restrict the market growth as majority of high-quality feed is prepared by fish meal and fish oil.

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In Asia-Pacific, meat consumption is correlated to income of the consumers in numerous countries. India is among those countries, which falls under this spectrum. However, people have inclined toward fish and other seafood to fulfil their protein requirements in the diet. This rise in awareness has led to increase in the demand for aquafeed products in India. However, with majority farmers feeding aquatic species with traditional feeds, such as rice/wheat bran, groundnut cake, and other agro products, the transition toward commercial feed would change eventually. While India is competitive in terms of labor costs, it is highly uncompetitive with respect to feed and energy costs.

Key Benefits for Stakeholders
• This report provides a quantitative analysis of current aquafeed market trends, estimations, and dynamics of the global aquafeed market from 2021 to 2030 to identify the prevailing aquafeed market opportunities.
• Porter's five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global industry. The market player positioning segment facilitates benchmarking while providing a clear understanding of the present position of the key market players.
• The report includes analysis of the regional as well as global market, key players, market segments, application areas, and growth strategies.

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