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Aquaculture Feed Global Market Report 2024 | Size, Share, Growth, Trends, Analysis, Forecast, Outlook, Mergers and Acquisitions, Top Major Key Players | 2033 Forecast
Aquaculture Feed Global Market Report
The aquaculture feed market size is expected to see strong growth in the next few years. It will grow to $86.19 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to sustainable aquaculture practices, alternative protein sources, climate change adaptation, health and disease management, e-commerce and supply chain optimization. Major trends in the forecast period include sustainable and alternative protein sources, functional feeds for health and performance, precision feeding and technology integration, customized and specialty feeds, aquafeed innovation for niche species.
Market Overview -
Aquaculture feed refers to the food provided to aquatic species in a controlled environment to ensure their growth, health, and productivity. Aquaculture feed's objective is to provide dietary requirements for the species to maintain a highly effective natural immune system and breeding.
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Increasing Seafood Demand Boosts Growth In The Aquaculture Feed Market
The increasing demand for seafood is expected to propel the growth of the aquaculture feed market going forward. Seafood refers to aquatic creatures and fish that can be eaten by humans, such as fish, shrimp, and even octopuses. Seafood is harvested or farmed for human consumption and is a significant source of protein and nutrients. Aquaculture feed is one of the most effective ways to develop high-quality seafood for human consumption. For instance, in July 2022, according to the Organization for Economic Cooperation and Development (OECD), a US-based intergovernmental organization, 90% of fish production is anticipated to be used as food by 2029. Fish for human consumption is expected to increase by 16.3%, or an additional 25 Mt, to 180 Mt by 2029 on a global scale. Therefore, the demand for seafood and frozen seafood of high quality is driving the aquaculture feed market.
Competitive Landscape -
Major companies operating in the aquaculture feed market report are Alltech Inc., The Archer-Daniels-Midland Company, Land O'Lakes Inc., Nutreco N.V., Charoen Pokphand Foods PCL, Aller Aqua AS Schouw & Co. AS, Avanti Feeds Limited, Ocean Star International Inc., Ridley Corporation Limited, Guangdong Haid Group Co. Ltd., Tongwei Group Co. Ltd., Betagro Group, De Heus Vietnam LLC, Schouw & Co. AS, BioMar A/S, Cargill Inc., Coppens International BV, Hanpel Tech Co. Ltd., Inve Aquaculture Inc., Nutriad International NV, Biomin, Bluestar Adisseo, Wilbur-Ellis Nutrition LLC, New Hope Group, Grobest Holdings Limited, NovoNutrients, EniferBio, Archer Daniels Midland Company, Norel Animal Nutrition, Zeigler Bros.Inc. .
Key Players Introducing Innovative Feed Lines In Aquaculture Feed Market
Product innovations are a key trend gaining popularity in the aquaculture feed market. Major players operating in the aquaculture feed market are concentrating their efforts on innovating new products to sustain their position in the market. For instance, in December 2021, INVE Aquaculture, a Belgium-based aquaculture feed producer, launched Natura pRo and ExL feed lines, the first ever rotifier substitution diets. It allows hatcheries to reduce their rotifer requirements by more than half, enhancing fry quality and survival rates. It also gives technical and nutritional support from the start of exogenous feeding until weaning. The Natura pRo formulation pays great attention to ingredient selection to provide excellent nutritional digestion and palatability, ensuring that the feed is appetising to larvae from the start of exogenous feeding.
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Key Segments -
The aquaculture feed market covered in this report is segmented -
1) By Product Type: Pellets, Extruded, Powdered, Liquid
2) By Ingredient Type: Soybean, Corn, Fishmeal, Fish Oil, Additives, Other Ingedients
3) By Species Type: Carp, Marine Shrimps, Tilapias, Catfishes, Marine Fishes, Salmons, Freshwater (FW) Crustaceans, Trouts, Other Species
4) By Distribution Channel: Store Based, Online
5) By End User: Commercial, Household
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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