Press release
Increasing Use Of Aquafeed In Carp And Crustacean Farming Is Expected To Boost Aquafeed Market Demand Till 2020: Grand View Research, Inc.
Key aquaculture additives include antibiotics and amino acids as they cannot be synthesized by the fish but are essential for regular body mechanism. Amino acids were the largest used aquafeed product, with estimated market revenue of USD 236.0 million in 2013. Feed acidifiers are expected to be the fastest growing segment over the forecast period, at an estimated CAGR of 6.1% from 2014 to 2020.
Further key findings from the study suggest:
• The global aquafeed demand was 37.60 million tons in 2013 and is expected to reach 77.93 million tons by 2020, growing at a CAGR of 11% from 2014 to 2020.
• Carps were the largest consumers of aquafeed, at 9.70 million tons of global market in 2013. The segment is also expected to witness fastest growth at an estimated CAGR of 11.2% from 2014 to 2020. Carps are rich in omega-3 fatty acids and offer high sources of protein that are low in fat. The growing consumer awareness regarding omega 3 health benefits is expected to drive demand for carps in turn augmenting demand for aquafeed.
• Mollusks and Crustaceans were the other large application segments for the aquafeed market together accounting for 33% of the global market in 2013. Crustaceans such as lobsters, shrimps and crabs and mollusks such as oysters are increasing being used as exotic food products and improving economic conditions in parts of Asia Pacific is expected to further the demand for aquafeed over the forecast period.
• Asia Pacific was the most dominant regional market accounting for 65% of global consumption in 2013. The presence of vast aquaculture industry particularly in China is expected to enhance the demand for aquafeed in the region over the next six years.
For the purpose of this study, Grand View Research has segmented the global aquafeed market on the basis of end use and region. Furthermore, aquafeed additive market has been split on the basis of product segments:
• Aquafeed Additives Product Outlook (Revenue, USD Million, 2012 - 2020)
• Amino Acids
• Antibiotics
• Vitamins
• Feed Acidifiers
• Others
• Aquafeed Application Outlook (Volume, Tons; Revenue, USD Million, 2012 - 2020)
• Carps
• Mollusks
• Crustaceans
• Salmons
• Tilapia
• Catfish
• Others
• Aquafeed Regional Outlook (Volume, Tons; Revenue, USD Million, 2012 - 2020)
• North America
• Europe
• Asia Pacific
• RoW
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Press Contact
Sherry James - Corporate Sales Specialist, USA
28 2nd Street, Suite 3036
San Francisco, CA 94105
United States
Phone: 1-415-349-0058
Email: sales@grandviewresearch.com
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