Aquafeed Market Expansion: Trends, Growth Drivers, Opportunities, Top Companies, and Future Outlook

Aquafeed Market Size, Share, and Growth Trends Report by Ingredient (Soybean, Corn, Fishmeal, Fish Oil, Additives), Species (Fish, Crustaceans, Mollusks), Function (Nutrition, Growth Promoters, Immunity, Texture & Palatability), Lifecycle, Form and Region - Global Industry Forecast to 2029
The global aquafeed market [https://www.marketsandmarkets.com/Market-Reports/aquafeeds-market-1151.html] is on a trajectory of significant expansion, with an estimated value projected to reach USD 84.19 billion by 2029 from the 2024 valuation of USD 58.92 billion, displaying a promising Compound Annual Growth Rate (CAGR) of 7.4%. Demand for seafood and innovation in aquaculture technologies are driving the growth of the aquafeed market. According to FAO, global aquaculture production in 2022 reached a record level of 130.9 million tonnes, which represents 51% of global fish production. This surge in aquaculture has resulted in demand for high-quality aquafeed to ensure optimum growth and health in farmed species of aquatic origin.

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According to NMFS, US aquaculture production reached more than 660 million pounds of seafood in 2022 alone; this level of production was backed by the aquafeed market. According to the USDA, there has been a steady increase in aquafeed production, driven by rising domestic aquaculture practices and specialized feed formulations.

Aquafeed Market Drivers [https://www.globenewswire.com/news-release/2024/09/26/2953539/0/en/Aquafeed-Market-Size-Growth-Prospects-and-Regional-Analysis-A-Comprehensive-Report-2024-2029.html]: Increase in usage of functional aquafeed additives

The key reason behind the growing use of functional aquafeed additives is the increasing prevalence of aquatic diseases, which pose serious threats to fish and shrimp farming industries. Rising water temperatures further exacerbate the issue by creating favorable conditions for the rapid spread of infectious fish diseases. A study by NCBI (National Center for Biotechnology Information) published in October 2024, analyzing 104 papers from 2003 to 2022 found that 54% of the research focused on parasites, especially proliferative kidney disease, with 22% examining bacterial infections in fishes. Most studies emphasized freshwater species and farmed fish, showing that increased temperatures, along with factors like pH and salinity changes, pose major threats to fish health and global aquaculture.

This surge in disease prevalence is a key driver behind the growing use of functional aquafeed additives. Probiotics, prebiotics, and immune-boosting compounds are being increasingly integrated into aquafeeds to combat these health risks. Functional additives help improve gut health, enhance immunity, and reduce disease outbreaks, offering a sustainable solution to the challenges posed by climate change and its effects on fish. Therefore, addressing aquatic pathogens through improved management and the use of functional additives has become more essential.

Aquafeed Market Opportunities [https://www.linkedin.com/pulse/aquafeed-market-size-share-industry-analysis-trends-forecast-scott-pjk2f/]: Growth in support from governments

The growing support from governments worldwide presents significant opportunities for the aquafeed market, especially as global demand for seafood is projected to increase by 70% over the next 30 years (source: USDA). With capture fisheries' harvests either stable or declining, the need for a rapid expansion in aquaculture has become increasingly evident. Governments are recognizing this and have ramped up efforts to ensure the sustainable growth of the aquaculture industry, offering a range of funding and support initiatives that create a conducive environment for innovation and growth in aquafeed production.

In the United States, the National Institute of Food and Agriculture (NIFA) plays a crucial role in driving research, technology development, and Extension programs related to aquaculture. For example, NIFA's efforts in supporting innovations to enhance feed formulations, disease prevention, and sustainable aquaculture practices are directly contributing to better-aquafeed products. By investing in aquaculture research that improves feed efficiency and sustainability, government initiatives create significant opportunities for the development of functional additives, alternative feed sources, and environmentally friendly ingredients in aquafeeds. These advancements are crucial for responding to the challenges of increased global seafood demand and reduced availability of traditional feed ingredients.

Dry form accounted for higher market share among form segments in 2023.

In the aquafeed market, the dry form includes pellets, crumbles, and powders. Dry feeds are mainly predominant due to the facility and convenience they provide over the other forms. Dry aquafeeds are easier to store, handle, and move compared to wet and liquid feeds that need more delicate management to avoid spoilage or contamination. This particularly fits large-scale aquaculture operations where logistic efficiency is very important.

Dry feeds in pellet form are favored by many aqua culturists as they offer a stable and precisely formulated nutritional profile. These feeds are designed to meet the specific dietary needs of various aquatic species, ensuring they receive balanced nutrition for optimal growth. Companies like ADM(US) and Cargill Incorporated (US) produce pelletized feeds for species such as salmon and shrimp, carefully blending proteins, fats, vitamins, and minerals in exact proportions.

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Grower feed in lifecycle segment to be dominant market during forecast period.

Grower aquafeed meets the demand of aquatic species, switching to a more developed growth stage, normally containing 30-40% protein, which supports the continuity of development but synchronizes growth at reduced rates. It is cost-effective as it provides a balanced nutritional formulation tailored for optimal fish growth. Its pelletized form improves feed efficiency, reducing waste and enhancing nutrient absorption. This results in better growth and lower feed costs, making it economical for large-scale aquaculture operations. Grower feed, mostly in pelletized form, improves feed utilization and reduces waste due to the advanced feeding skills of the fish. Better feed conversion and lower waste combine with increased efficiency to help trigger growth. Technological advancements have led to grower feeds being refined with additives such as probiotics and prebiotics, enhancing performance and ensuring animal health. This has further cemented the importance of this stage in the industry. The dominance of grower feeds in the aquafeed lifecycle stage stems from their increasing ability to meet the nutritional requirements of fish, thus contributing to the sustainability and efficiency of the aquaculture industry.

Asia Pacific is the fastest growing region in the aquafeed market.

According to the FAO, in 2022, Asia produced 119.7 million tons of aquaculture, representing 91.4% of the global production. China led with 40%, followed by Indonesia with 10% and India with 7%. This significant output underscores Asia's dominance in global aquaculture. This intensive production is directly related to the high demand for seafood, which has resulted from a large, growing population and rising per-capita incomes. According to the National Bureau of Statistics of China in 2023, the country is the largest producer and consumer of seafood globally; it consumes approximately 63.4 million metric tons annually. Producers are compelled to expand and enhance their offerings to meet the nutritional needs of aquaculture farms. Government policies in the region further back this growth. The 14th Five-Year Plan of China focuses on both sustainable aquaculture and technological innovation, thereby improving production efficiency. Similarly, the Indian National Fisheries Policy is targeted at expansion in aquaculture and infrastructure investments, thus stimulating growth in the market.

Top 10 Companies in the Aquafeed Market [https://www.marketsandmarkets.com/ResearchInsight/aquafeeds-market.asp]

Cargill, Incorporated (US)

dsm-firmenich (Switzerland)

Nutreco (Netherlands)

Alltech (US)

Purina Animal Nutrition LLC (US)

Adisseo (France)

Aller Aqua Group (Denmark)

BioMar Group (Denmark)

Recent Developments of Aquafeed industry [https://www.marketsandmarkets.com/PressReleases/aquafeeds.asp]

In December 2024, Aller Aqua Group partnered with AquaRech to improve access to high-quality fish feeds for fish farmers across Kenya. This collaboration combines Aller Aqua's expertise in premium feed production with AquaRech's extensive Last Mile Distribution System, ensuring consistent supply and accessibility in key regions. The partnership is set to enhance fish health and growth, significantly reducing production cycles from 14 to 8 months, while supporting sustainable aquaculture practices. This strengthens Aller Aqua's position as one of the leaders in the African aquaculture industry, driving growth and supporting local farming communities.

In June 2024, Nutreco launched its innovative "Garden of the Future," marking a significant advancement in phytotechnology. This groundbreaking initiative focuses on developing cutting-edge phytotechnology solutions designed to enhance the performance, health, and welfare of aquatic species, as well as farm and companion animals. The "Garden of the Future" represents a forward-thinking approach, leveraging advanced plant-based technologies to improve animal nutrition and overall well-being.

In January 2024, the joint venture between ADM and Vitafort opened a new state-of-the-art feed mill in Hungary that is poised to achieve full production capacity. This reflects ADM's steadfast commitment to ushering in a new era of modernization in the region's production infrastructure.

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