Japan Aquafeed Market To Grow at a CAGR of 8.1% During 2024-2032 | IMARC Group

The latest report by IMARC Group, titled "Japan Aquafeed Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," offers a comprehensive analysis of the industry, which comprises insights into the market. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The Japan aquafeed market size reached 3.1 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 5.0 Million Tons by 2028, exhibiting a growth rate (CAGR) of 8.1% during 2023-2028.

Japan Aquafeed Market Overview:

Aquafeed is a specialized feed formulated for aquatic animals, including fish and crustaceans. As aquaculture, the farming of aquatic organisms, continues to expand globally, the importance of aquafeed in ensuring the optimal growth and health of these animals cannot be overstated. Aquafeed is tailored to cater to the specific dietary needs of different species, considering their life stage, habitat, and targeted growth rates. The composition of aquafeed includes essential proteins, fats, vitamins, minerals, and other nutrients required for the well-being of aquatic species.

With advances in research, there's an increasing focus on sustainable and alternative ingredients for aquafeed, such as plant-based proteins or microalgae, reducing reliance on wild-caught fishmeal. This is pivotal for the environmental sustainability of the aquaculture industry. The feed ensures that aquatic animals grow efficiently, have reduced disease susceptibility, and yield high-quality produce for human consumption.

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Japan Aquafeed Market Trends:

The aquafeed market in Japan is primarily driven by the expansion in rich seafood tradition. With fish being a staple in the Japanese diet, there's a sustained demand for aquaculture products. As aquaculture practices grow, the necessity for high-quality aquafeed to ensure the health and productivity of fish and shellfish also increases. Moreover, the rising consumer awareness regarding seafood quality and safety is another critical driver.

Japanese consumers are becoming increasingly discerning about the quality of their seafood, leading to a demand for aquafeed that not only boosts growth but also enhances the taste and texture of the seafood. Besides, government regulations and support further support the market dynamics. With policies encouraging sustainable aquaculture practices and promoting research in the sector, the aquafeed industry receives the necessary impetus for growth and innovation.

Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/japan-aquafeed-market

Key Market Segmentation:

Breakup by End-User:

• Molluscs
o Japanese Scallop
o Pacific Oyster
• Fishes
o Yellowtail
o Red Seabream
o Grater Amberjack
o Bluefin Tuna
o Others
• Crustaceans and Others

Fishes currently represent the leading segment, holding the largest share.

Breakup by Ingredient:

• Soybean
• Fish Meal
• Wheat Flour and Wheat Products
• Rice Products
• Corn
• Additives
o Vitamins & Minerals
o Amino Acids
o Feed Acidifiers
o Antibiotics
o Others
• Others

Breakup by Product Form:

• Pellets
• Extruded
• Powdered
• Liquid

Competitive Landscape:

The report has also examined the competitive landscape of the Japan aquafeed market. Some of the major players include:

• Marubeni Nisshin Feed Co. Ltd.
• Nosan Corporation (Mitsubishi Corporation)
• Skretting (Nutreco N.V.)

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This release was published on openPR.