Aquafeed Market Report Highlights Robust Growth, Reaching US$ 93.19 Billion by 2029

The global Aquafeed Market, valued at US$ 58.03 billion in 2022, is anticipated to witness significant growth, reaching US$ 93.19 billion by 2029. This projection reflects a Compound Annual Growth Rate (CAGR) of 7% during the forecast period. The comprehensive report, titled "Global Aquafeed Market Analysis 2023," presents a thorough examination of market dynamics, including the impact of COVID-19 lockdowns, key drivers, restraints, and regional insights.

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Aquafeed Market Report Scope and Research Methodology

The report meticulously covers the short-term and long-term impacts of the COVID-19 lockdown on market leaders, followers, and disruptors. With diverse lockdown implementations across regions and countries, the report analyzes the varying effects on market segments. Decision-makers will find valuable insights to formulate strategies and outlines for companies by region. The research methodology ensures accuracy and reliability in presenting insights, facts, historical data, and industry-validated market projections.
The report employs a comprehensive research methodology, including data collection and analysis, to present industry-validated market data, historical insights, and projections. The objective is to offer decision-makers a clear understanding of market dynamics, structure, and size, with insights into competitive analysis, growth strategies, and regional presence.

Market Dynamics:

The Aquafeed Market is witnessing a surge in revenue avenues due to the emergence of new species in aquaculture and the growth of fish farming. The introduction of new algae aquaculture feed ingredients as replacements for fishmeal and fish oil with plant-based materials is a significant trend. More than 70 percent of fish meal protein is being replaced with soybean meal, offering health benefits by reducing oils causing health issues.

The report also highlights the increasing demand for salmonid feeds and commercial feeds for catfishes and other carnivorous fishes. Additionally, the soybean segment is expected to dominate the market, given its status as an excellent source of protein for aquafeed.

Aquafeed Market Insights:

The Aquafeed Market is experiencing growth opportunities driven by the emergence of new species in aquaculture and the expanding fish farming sector. New fish species, such as meager, amberjack, and wreckfish, are increasingly reliant on commercially manufactured compound feeds. The introduction of algae-based aquaculture feed ingredients as a sustainable replacement for fishmeal and fish oil is a notable trend. The report highlights the significant role of soybean in aquafeed, attributing its dominance to its high-quality protein content and nutritional value.

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Aquafeed Market Segmentation:

by End User

Fish
Mollusks
Crustaceans

The fish section, which is based on end users, had the biggest share in 2019 and is predicted to increase at the quickest rate over the next several years. The least expensive and easiest to digest animal protein is fish. Fish feed is in higher demand as a result of the expansion of aquaculture and fish farming. Aquafeed is becoming more and more in demand as a result of the use of artificial environments like aquaponics and the Recirculating Aquaculture System (RAS) to boost fish productivity and availability for consumption.

by Ingredient

Soybean
Corn
Additives
Fish meal
Fish oil

The aquafeed market is anticipated to be dominated by the soybean segment over the forecast period, based on the type of ingredients used. For aquafeed, soybean is a great source of protein because it has 48% high-quality protein. Because of its high nutrient content and abundance of easily absorbed amino acids and xanthophylls, it is widely utilized as a crucial source of protein in the creation of aquafeed.

by Additive

Antibiotics
Vitamins
Antioxidants
Amino acids
Feed enzymes
Feed Acidifiers

Aquafeed Market Key Players include:

1. Archer Daniels Midland Company
2. Cargill
3. Alltech
4. Ridley Corporation Ltd.
5. Nutreco N.V
6. Avanti Feeds Ltd.
7. Biostadt India Ltd.
8. Nutriad
9. Aller Aqua A/S
10. BioMar
11. BIOMIN Holding GmbH
12. Norel Animal Nutrition
13. De Heus Animal Nutrition
14. Dibaq a.s

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Key Questions answered in the Aquafeed Market Report are:

• What is Aquafeed?
• What are the global Aquafeed market trends?
• What are the emerging trends in the Aquafeed market?
• What was the global Aquafeed market size in 2022?
• What is the expected CAGR of the Aquafeed market during the forecast period?
• What is the expected Aquafeed market size by 2029?
• What factors are affecting the Aquafeed market growth?
• Which region held the largest share of the global Aquafeed market?

Regional Insights:

Asia-Pacific leads the global Aquafeed Market, constituting over 53% of the market's revenue and more than 58% of overall aquafeed consumption. The highest growth for fish consumption is anticipated in the Asia-Pacific and Latin American regions, driven by changing diet patterns, urbanization, population growth, and economic development.

North America and Europe, with relatively small aquaculture industries, exhibit high demand for fish and seafood products. These regions depend on Asian producers to meet their demands, showcasing the global interdependence within the aquafeed market.

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