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Aquafeed Market Trends, Top Companies, Share, Growth And Forecast 2033
Aquafeed Market Trends
As per the report, the aquafeed market size has grown strongly in recent years. It will grow from $91.05 billion in 2023 to $99.02 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The aquafeed market size is expected to see strong growth in the next few years. It will grow to $138.75 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%.
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Rising Seafood Consumption Fuels The Aquafeed Market Growth
Increasing seafood consumption is expected to propel the growth of the aquafeed market. Aquaculture production plays an increasing role in satisfying the demand for human consumption of fishery products. According to the study published by the Organization for Economic Co-operation and Development (OECD) and the Food and Agriculture Organization (FAO), human consumption of fish is expected to increase by 180 Mt by 2029. The increase in demand for seafood or fishery products is expected to boost demand for high-quality aquafeed to maintain the quality of the products for the customers. Therefore, increasing seafood consumption is driving the growth of the aquafeed market.
Key Player Embracing Technological Advancements For Enhanced Nutrition And Efficiency In The Aquafeed Market
Technological advancement is a key trend gaining popularity in the aquafeed market. The companies operating in the aquafeed market are focusing on developing innovative products with better nutrition and improved feed conversion. In September 2022, Secma Cabon Solution Vide, a France-based equipment designing and constructing company, launched MultyWays, a unique aquafeed delivery system, The CleanPipe system, DosAir, and Multiway valves are the company's patented inventions. The interaction of these three elements maximizes output and profitability. While increasing yield and allowing for more frequent daily feedings, MultyWays also gives farmers more time to devote to other duties. Additionally, it lowers labor costs, restricts manual handling, and lessens accidents brought on by frequent feeding motions.
The aquafeed market covered in this report is segmented -
1) By Additives: Vitamins, Antioxidants, Amino Acids, Enzymes, Acidifiers, Binders
2) By Form: Dry Form, Wet Form, Moist Form
3) By Distribution Channel: Direct Sales, Indirect Sales, Hypermarket/supermarket, Wholesalers, Online, Other Distribution Channel
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Major companies operating in the aquafeed market report are Cargill Incorporated, Archer Daniels Midland Company, Marubeni Nisshin Feed Co. Ltd., Evonik Industries AG, Charoen Pokphand Foods Public Company Limited, Royal De Heus B.V., Nutreco N.V., ForFarmers N.V., PT Japfa Comfeed Indonesia Tbk, BioMar A/S, Adisseo, Alltech Inc., Ridley Corporation Limited, Skretting USA, Wilbur-Ellis Nutrition LLC, Purina Animal Nutrition LLC, Aller Aqua A/S, Biomin GmbH, Biostadt India Limited, Growel Feeds Private Limited, Norel Animal Nutrition, Sonac B.V., Coppens International B.V., EnviroFlight LLC, Beneo GmbH, Nutriad International NV, Dibaq Aquaculture S.L., Melick Aquafeed, Rangen Inc.
Contents of the report:
1. Executive Summary
2. Aquafeed Market Report Structure
3. Aquafeed Market Trends And Strategies
4. Aquafeed Market - Macro Economic Scenario
5. Aquafeed Market Size And Growth
…..
27. Aquafeed Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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