May 2, 2019

Aquafeed Market Brief Overview by Research Cosmos

Aquafeed Market Size and Growth Rate:

Aquafeed Market Size was Expected to Reach at USD 172.56 Billion by 2022 with a CAGR of 9.9% during the forecast period 2018-2022.

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Aquafeed Market Overview:

Aquafeed is defined as food that is specifically equipped for aquatic animals in order to achieve their nutritional requirements. Aquafeed is normally prepared with specific ingredients and additives that are nutritive in nature and are complemented in very small amounts. It is now also available in vast product ranges, owed to increased consumer attraction towards its functionality and species-specific requirements. Aquafeed is obtained from plant sources only, such as corn gluten meal, canola oil, soy meal, and sunflower protein essence. Amongst them, the most usually used ingredient in aquafeed is marine sources such as fish meal and fish oil.

There has been an increasing pressure on the livestock industry to meet the mounting demand for high value animal protein, and fish is easily known as the best source of Omega 3 Fatty Acids, EPA, and DHA. Population growth, rising incomes in developing nations, and urbanization have all led to a surge in global fish production. The level of income and consumption of animal protein are positively connected to the increasing consumption of fish and other seafoods at the outlay of staple foods. All these reasons and more are expected to boost the aquafeed market substantially in the forthcoming years.

Aquafeed Market Growth Drivers and Restraints:

The most advertised and preferred form of aquafeed among the entire global products, now, is the extruded type of aquafeed, due to its high fragmentation rate and faster onset of action in fish. Rising usage of aquafeed in crustacean and carp farming is also expected to fuel demand over the course of the forecast period. Static natural production of fishes is likely to boost an already flourishing market for aquaculture. Moreover, rising focus on nutraceuticals, such as omega 3-enriched products, is scheduled to generate huge opportunities for aquafeed applications.

Geographical Overview of Aquafeed Market:

Geographically, the global aquafeed market is segmented into North America, Europe, Asia-Pacific and LAMEA. Asia Pacific and LAMEA would provide rewarding growth opportunities until 2022, owing to substantial increase in aquaculture production and increasing seafood consumption. In the year 2015, Norway had accounted for the highest market share with around one fourth of the total European aquafeed market, due to the high demand for salmon fish feed. Asia Pacific was also the most dominant regional market accounting for 65% of global consumption in 2013.

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Key Players of Aquafeed Market:

Some of the major companies in the global market are AllerAqua A/S, Cargill, Inc., Beneo GmbH, Biomar A/S, Avanti Feeds Ltd, Alltech Inc., Biomin GmbH, Nutreco N.V. and Coppens International B.V.

Aquafeed Market Segmentation:

By Ingredient:

·        Additives

·        Fish Oil

·        Fish Meal

By Form:

·        Extruded

·        Pellet

·        Powder

·        Liquid

By Species:

·        Fish

·        Crustaceans

By Function:

·        Digestibility

·        Palatability

·        Special Nutrition

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