Press release
Shrimp Feed Market Size Forecasted To Achieve $6.22 Billion By 2029 With Steady Growth
Shrimp Feed Market Growth
What Is the Shrimp Feed Market Size and Projected Growth Rate?
The shrimp feed market has experienced steady growth in recent years. It is projected to grow from $4.51 billion in 2024 to $4.82 billion in 2025 at a CAGR of 6.9%. Growth in this market has been driven by rising aquaculture output, feed production innovations, strong investments in shrimp farming, sustainable feed initiatives, and ongoing R&D efforts.
The shrimp feed market is expected to grow steadily, reaching $6.22 billion by 2029, with a CAGR of 6.6%. Growth drivers include global shrimp demand, shrimp farming expansion, regulatory changes, growing seafood demand, and technological innovations. Trends to watch are the increased demand for sustainable feeds, rising costs of feed ingredients, aquaculture technology advancements, a shift to plant-based proteins, and stricter environmental regulations.
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What Are the Major Segments in the Shrimp Feed Market?
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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What Are The Driving Shrimp Feed Market Evolution?
The rising demand for seafood is expected to propel the shrimp feed market's growth. Seafood consumption is increasing due to health-conscious eating habits, cultural preferences, convenience, and sustainability concerns. High-quality shrimp feed supports sustainable shrimp farming, ensuring that the growing seafood demand is met while minimizing environmental harm. For example, in September 2023, GOV.UK reported that in 2022, the UK imported 647,000 metric tons of sea fish worth £3.7 billion, reflecting an increase in value over previous years. As a result, the increasing demand for seafood is driving the shrimp feed market.
Which Firms Dominate The Shrimp Feed Market Segments?
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 Trends Are Driving Growth in The Shrimp Feed Market?
Major players in the shrimp feed market are developing innovative products such as functional shrimp feed to enhance feed efficiency and sustainability. These feeds not only meet shrimp's basic nutritional needs but also promote health, growth, and disease resistance. For example, in May 2024, Skretting, a Norway-based aquafeed producer, launched Armis, a functional shrimp feed developed to improve shrimp resilience in challenging conditions and address issues like Enterocytozoon hepatopenaei (EHP) in India.
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Which Is The Largest Region In The Shrimp Feed Market?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Shrimp Feed Market?
2. What is the CAGR expected in the Shrimp Feed Market?
3. What Are the Key Innovations Transforming the Shrimp Feed Industry?
4. Which Region Is Leading the Shrimp Feed Market?
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