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Demand For Seafood Driving Market Growth And Sustainability Efforts: A Key Factor Shaping the Future of the Shrimp Feed Market in 2025
Shrimp Feed Market
In recent times, the shrimp feed market has observed significant growth. The market valuation is anticipated to rise from $4.51 billion in 2024 to $4.82 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 6.9%. This growth throughout the historical interval can be ascribed to a surge in aquaculture production, progression in feed production technology, substantial funding in shrimp farming, efforts towards sustainable feed production, and intensified research and development.
The market size of shrimp feed is predicted to experience significant expansion in the upcoming years, with an estimated worth of $6.22 billion in 2029, growing with a compound annual growth rate (CAGR) of 6.6%. This growth for the forecast period can be credited to the rising worldwide demand for shrimp, extension of shrimp agriculture, regulatory modifications, an escalated demand for seafood, and progress in technology. The forecast period is likely to witness major trends such as heightened demand for sustainable feeds, increasing costs of animal feed ingredients, improvements in aquaculture technology, a shift towards plant-based proteins, and tighter environmental regulations.
What Are the Main Catalysts for Growth in the Shrimp Feed Market?
The growth of the shrimp feed market is anticipated to be fueled by the rising demand for seafood. Seafood, which includes any edible marine animal or plant obtained from freshwater or marine habitats for human consumption, is seeing an increased demand due to factors such as health awareness, cultural choices, convenience, worries about sustainability, and globalisation. The sustainable growth of shrimp aquaculture is facilitated by the use of top-grade shrimp feed, which helps meet the escalating global demand for seafood, while lessening environmental damage and preserving the health of aquatic ecosystems. As an example, GOV.UK, a government website from the UK, reported in September 2023 that in 2022, the UK's sea fish import quantity stood at 647,000 metric tons, valued at £3.7 billion, indicating a surge in value relative to past years. This rising demand for seafood, consequently, is fuelling the expansion of the shrimp feed market.
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Which Businesses Are at the Forefront of Shrimp Feed Market Development?
Major companies operating in the shrimp feed market are Cargill Incorporated, The Archer-Daniels-Midland Company, Tongwei Co Ltd, Evonik Industries AG, Charoen Pokphand Food Public Company Limited, Nutreco Holding N.V., Novozymes AS, Alltech Inc., Virbac Corp, Guangdong Yuehai Feeds Group Co Ltd, Ridley Corporation, Avanti Feeds Ltd, Aller Aqua A/S, Rangen Inc, Zeigler Bros Inc, BioMar Ltd, INVE Aquaculture, Growel Feeds Pvt. Ltd, Blue Aqua International Pte Ltd, Bern Aqua NV, ACI Godrej Agrovet Pvt, Guangdong Evergreen Feed Industry Co. Ltd., Thai Union Feedmill Public Company Limited
What Are the Latest Innovations in the Shrimp Feed Market?
Leading enterprises in the shrimp feed market are concentrating on the development of innovative items like functional shrimp feed to boost feed effectiveness and sustainability. This type of feed not only satisfies the fundamental nutritional requirements of shrimp but also promotes their overall wellbeing, growth and disease resistance. These nutritionals often comprise additional components that deliver specific advantages exceeding primary nutrition. As an example, Skretting, an aquafeed production company based in Norway, launched a functional shrimp feed named Armis in May 2024. This newly introduced feed aims to support shrimp's resilience under stress conditions and ensures optimal nutrition to maintain farm productivity. Specifically crafted for Indian shrimp farmers, this feed proactively addresses issues caused by parasites like Enterocytozoon hepatopenaei (EHP) and other shrimp farming diseases.
How Is the Shrimp Feed Market Segmented?
The shrimp feed market covered in this report is segmented -
1) By Type: Starter Grade, Grower Grade, Finisher Grade
2) By Shrimp Species: Pacific Whiteleg Shrimp, Black Tiger Shrimp, Other Shrimp Species
3) By Ingredients: Fish-Meal Based Feeds, Plant-Based Feeds, Soybean-Meal Based Feeds, Wheat-Based Feeds, Corn-Based Feeds, Other Ingredients
4) By Additives: Vitamins And Proteins, Antioxidants, Antibiotics, Fatty Acids, Feed Enzymes, Other Additives
Subsegments:
1) By Starter Grade: High-Protein Starter Feed, Nutrient-Rich Starter Pellets, Crumble Feed For Early Stage Shrimp, Liquid Starter Feeds, Specialized Starter Feed For Specific Shrimp Species
2) By Grower Grade: Growth-Promoting Shrimp Feed, Medium-Protein Grower Pellets, Feed With Enhanced Digestibility, Formulated Grower Feed With Essential Nutrients, Grower Feed With Omega-3 Fatty Acids
3) By Finisher Grade: High-Energy Finisher Feed, Low-Protein Finisher Pellets, Finisher Feed With Antioxidants And Color Enhancers, Specialized Finisher Feed For Market-Ready Shrimp, Slow-Release Nutrient Finisher Feed
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Where Is the Shrimp Feed Market Growth Most Prominent?
Asia-Pacific was the largest region in the shrimp feed market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the shrimp feed market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Shrimp Feed Global Market Report?
- Market Size Analysis: Analyze the Shrimp Feed Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Shrimp Feed Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Shrimp Feed Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Shrimp Feed Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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