Press release
Aquafeed Market to Reach USD 99.70 Bn by 2030, Growing at 7% CAGR!
Aquafeed Market
The global aquafeed market is experiencing robust expansion, driven by the increasing demand for seafood and advancements in aquaculture practices. Valued at approximately USD 62.09 billion in 2023, the market is projected to reach nearly USD 99.70 billion by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 7% during the forecast period.
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Competitive Landscape
The aquafeed industry is characterized by a blend of prominent international and regional players. Leading companies such as BioMar Group, Cargill, Inc., Nutreco NV, Charoen Pokphand Foods PCL, and Aller Aqua A/S are at the forefront, continually innovating to meet the evolving demands of aquaculture. These companies invest heavily in research and development, marketing, and expanding their distribution networks to maintain a competitive edge.
Regional Demand Highlights
Asia-Pacific holds a dominant position in the aquafeed market, accounting for over 53% of the global market's revenue and constituting more than 58% of the overall aquafeed consumption. This dominance is attributed to the region's rapid urbanization, increasing seafood consumption, and the presence of major aquaculture operations.
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Segmentation Analysis
by End User
Fish
Mollusks
Crustaceans
The seafood category is predicted to increase at the quickest rate during the projection period and held the greatest share in 2019. The most affordable and readily digested animal protein is fish. The need for fish feed has grown as aquaculture and fish farming have expanded. Demand for aquafeed is also being created by the use of artificial environments such as aquaponics and the Recirculating Aquaculture System (RAS) to boost fish productivity and availability for human consumption.
by Ingredient
Soybean
Corn
Additives
Fish meal
Fish oil
Over the course of the forecast period, the soybean segment is anticipated to hold the greatest share of the aquafeed market. With roughly 48% high-quality protein, soybeans are a great source of protein for aquafeed. Because of its high nutrient content and abundance of digestible amino acids and xanthophylls, it is widely used as a significant source of protein in the aquafeed industry.
by Additive
Antibiotics
Vitamins
Antioxidants
Amino acids
Feed enzymes
Feed Acidifiers
Looking for in-depth market insights? Check out the summary of the latest research report:
https://www.maximizemarketresearch.com/market-report/global-aquafeed-market/31756/
Key Market Participants:
1. Archer Daniels Midland Company
2. Cargill
3. Alltech
4. Ridley Corporation Ltd.
5. Nutreco N.V
6. Avanti Feeds Ltd.
7. Biostadt India Ltd.
8. Nutriad
9. Aller Aqua A/S
10. BioMar
11. BIOMIN Holding GmbH
12. Norel Animal Nutrition
13. De Heus Animal Nutrition
14. Dibaq a.s
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