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Aquaculture Feed and Pharmaceuticals Market will reach value of US$ 1,068.9 Mn by 2025
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Global Aquaculture Feed and Pharmaceutical Market: Dynamics
Market drivers:
Low feed to biomass conversion ratio of aquaculture species
Dominance of branded drugs in the global aquaculture market
Market restraints:
Lack of proper treatment and diagnosis of new diseases
High cost of veterinary treatment
Market trends:
Entry of key players in the Asia Pacific market
Consolidation in the global aquaculture feed and pharmaceutical market
The market in Asia Pacific is expected to lead in terms of revenue generation of aquaculture feed and pharmaceuticals during the forecast period. Development of new vaccines for emerging diseases and entry of key market players into developing countries are factors likely to impact revenue growth of the global aquaculture feed and pharmaceutical market.
Global Aquaculture Feed and Pharmaceutical Market: Forecast
The global aquaculture feed and pharmaceutical market is segmented on the basis of Product Type into Pharmaceutical and Biologics (sub-segmented into Anti-infectives, Parasiticides, Biologics, and Others) and Medicated Feed (sub-segmented into Vitamins and Minerals, Amino Acids, Acidifiers, and Others). Pharmaceutical and Biologics is likely to dominate the global market in terms of revenue throughout the forecast period, recording a CAGR of 7.4% in terms of value and emerging as the most lucrative segment by product type. Medicated Feed will register a CAGR of 6.6% during the forecast period.
The global aquaculture feed and pharmaceutical market is segmented on the basis of Species into Molluscs, Shrimp, Salmons, Carps, Tilapia, Catfish, and Others. Carps is expected to be the most lucrative among all species, with an attractiveness index of 3.1. Shrimp will be the second largest segment by species, with a market attractiveness index of 1.3. Both these segments will register the highest CAGR in this segment (7.7%) during the forecast period.
Persistence Market analyzes the global aquaculture feed and pharmaceutical market across the key geographies of North America, Latin America, Europe, Asia Pacific, and Middle East and Africa (MEA). Asia Pacific is anticipated to be the most lucrative among all the regional markets over the forecast period, registering a CAGR of 7.6% during the forecast period. Asia Pacific is the largest contributor in aquaculture production worldwide, with a recorded 62.5 Mn tons produced in 2013. Inland aquaculture is more popular in the Asia Pacific region, and about 66.6% fish is produced inland.
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Global Aquaculture Feed and Pharmaceutical Market: Competition Analysis
The report profiles some of the key players operating in the global aquaculture feed and pharmaceutical market such as Zoetis, Inc., Schouw & Co, Ridley Corporation Ltd, Merck & Co Inc, Biomin Holding GmbH, Aller Aqua A/S, Nutriad Ltd., Alltech Inc., Avanti Feeds Ltd., Norel S.A., Cargill, Incorporated, Beneo GmbH, Skretting AS, Novus International Inc., Growel Feeds Pvt. Ltd., Neovia Vietnam, Evonik Industries AG, Bayer AG, Koninklijke DSM N.V. Market players are focusing on inorganic growth in the global market through acquisitions and collaborations with regional players to augment their sales revenue. Further, the entry of players into new regions by setting up new production facilities and launching new drugs in the global market is being witnessed as a key trend.
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