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Key Companies Leading Innovation and Growth in the Shrimp Feed Market
Shrimp Feed
Projected Market Size and Growth Trajectory of the Shrimp Feed Market
The shrimp feed market is anticipated to grow steadily, reaching a valuation of $6.06 billion by 2029. This growth corresponds to a compound annual growth rate (CAGR) of 6.0%. Several factors are driving this expansion, including increasing global shrimp consumption, the rising scale of shrimp farming operations, evolving regulatory frameworks, and technological progress in aquaculture. Key trends influencing the market during this period include a heightened focus on sustainable feed options, rising costs of animal feed ingredients, adoption of advanced aquaculture technologies, a shift toward plant-based protein sources, and more rigorous environmental regulations.
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Top Industry Players Leading the Shrimp Feed Market
The shrimp feed market features a range of prominent companies actively shaping its direction. These major players include 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., and Thai Union Feedmill Public Company Limited.
Strategic Acquisition Enhancing Sustainability in Shrimp Feed
In April 2022, BioMar Group A/S, a Denmark-based aquaculture feed supplier, acquired AQ1 Systems, an Australia-based technology company specializing in intelligent feeding solutions, for an undisclosed sum. This acquisition aims to boost sustainability and improve feeding efficiency within shrimp farming. AQ1 Systems offers advanced technologies that optimize feed usage and help maintain water quality, thereby supporting productivity on commercial shrimp farms and fostering global aquaculture research.
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Innovative Trends and Opportunities Shaping the Shrimp Feed Sector
Key market players are increasingly focusing on developing functional shrimp feeds designed to improve feed efficiency and promote shrimp health. Functional feeds go beyond basic nutrition by including additional components that enhance growth, disease resistance, and overall vitality. For example, in May 2024, Skretting, a Norway-based aquafeed company, introduced Armis-a specialized functional feed formulated to support shrimp resilience under challenging conditions. This product was developed with Indian shrimp farmers in mind and targets issues caused by parasites like Enterocytozoon hepatopenaei (EHP) and other diseases common in shrimp farming.
Detailed Market Segmentation of the Shrimp Feed Industry
The shrimp feed market is segmented into several categories to provide a comprehensive understanding of its structure:
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
Further subsegments include:
- Starter Grade: High-protein starter feed, nutrient-rich starter pellets, crumble feed for early-stage shrimp, liquid starter feeds, and specialized feeds tailored for particular shrimp species
- Grower Grade: Growth-promoting feed, medium-protein pellets, feeds with enhanced digestibility, formulations containing essential nutrients, and grower feeds enriched with Omega-3 fatty acids
- Finisher Grade: High-energy finisher feed, low-protein pellets, finisher feeds containing antioxidants and color enhancers, specialized feeds for market-ready shrimp, and slow-release nutrient finisher feeds designed for optimized final growth stages.
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