Aquafeed Market
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)
Increasing Investments in R&D by Companies to Give an Impetus to the Aquafeed Market Growth
Growing investments in research and development of new products continues to pave new opportunities of growth for the aquafeed market. Such activities have encouraged development of substitutes for ingredients in aquafeed in a bid to fight against price volatility of raw material. Also, using advanced research and development techniques, companies in the aquafeed market are developing new technologies to ensure reduced wastage and launch of new products. For instance, in 2020, Aller Aqua A/S developed new line of aquafeed with functional properties that include crucial ingredients which enhance survival and promote growth of a range of species of fish. Likewise, in 2021, CIFT (Central Institute of Fisheries Technology) introduced a new technology to overcome wastage and eliminate the inclusion of wastage in fish aquafeed. Same year, in June, ASC (Aquaculture Stewardship Council) launched new aquafeed standard that aims in tackling unsustainable and irresponsible practices. In 2020, in Guiuan, Milkfish Aquafeeds RDEP (Research, Development and Extension Project) was launched to develop new substitutes for ingredients of fish aquafeed.
Study says that the global aquafeed market was valued at over US$ 50 billion in 2020 and is projected to grow at a rate of more than 4% in the next seven years to cross US$85 billion.
Fish Feed Likely to Reign Supreme in the Aquafeed Market
Aquafeed for fish, as compared to molluscs and crustaceans feed, is likely to account for major share in the market. This is mainly due to increasing production of fish and fish farming to fill the demand-supply gap worldwide. Growing sales and consumption of fish have translated in increased supply of aquafeed in order to provide quality fish to consumers. Aquafeed for various types of fish such as tilapia, carp, catfish and salmon is gaining high traction. Catfish feed among others is expected to account for significant share in the aquafeed market. On the other hand, demand for carp feed is also gaining momentum. Carp is a prominent fish species in the European and Asian countries and is farmed extensively in Indonesia and China due to its high cultivation profitability. In addition, a better management practice in carp cultivation has further influenced the sales of aquafeed. In this background, growing demand and sales of aquafeed for fish is poised to significantly contribute towards overall valuation of the market.
Asia Pacific’s Attractiveness to Drive Aquafeed Market Growth
Dominance of Asia Pacific in food consumption continues to influence fish production, consequently giving an impetus to the sales of different types of aquafeed. Since past decade, Asia Pacific held a significant share in the aquafeed market and is likely to maintain its status quo as a lucrative leading region. This can be attributed towards growing aquaculture production, increasing fish farming along with use of good quality water within the closed farm system and good durability of fish species.
In addition, growing consumer pool for fish coupled with an exponential increase in population across emerging economies such as China and India remain instrumental in driving fish production. According to World Bank, by end of 2030, consumption of fish across Asian countries is projected to rise at a higher rate, with them accounting for over 70% of the worldwide consumption. China is expected to reflect high market attractiveness apropos to demand of aquafeed.
Alternatively, various aquafeed manufacturers are eyeing Asia as a potential investment and a key revenue pocket. For instance, in 2021, LDC increased the capacity of its aquafeed production in China in order to meet increasing demand for proteins from customers. Likewise, in December 2021, Grobest China announced its plan to set up new aquafeed mill in South China. With an investment of over US$ 37 million in the project, Grobest aims to provide functional aquafeed to aquaculture farmers situated in Zhanjiang and neighbouring areas. That said, increasing investments in the aquafeed space in Asia Pacific has placed the market valuation at a greater level, making it a lucrative go-to-region for market growth.
Global Aquafeed Market: Competitive Landscape
Companies in the market are introducing new products alongside initiating collaborations, alliances and partnership agreements. For instance, in 2021, BioMar launched RAS feed under the name Larviva Orbit for marine nurseries. This new feed provides improved performance, profitability and efficiency by offering balanced nutrition formulations, reduction in fine solids and exceptional quality of physical pellets. This optimum supplementary packaging provides optimal functional nutrition along with minimizing production challenges. Same year, in September, Cargill and Freshwater Institute signed a multi-year agreement in a bid to evaluate and develop enhanced feeds for the aquaculture sector. Targeting the land-based aquaculture sector, this collaboration aims at improving economical and environmental performance using developed aquafeed. On the other hand, in December 2021, Nutreco NV launched Celero and Nutra Sprint to support aquaculture farms in reaching their potential.
Few of the players in the aquafeed market include BioMar A/S, Charoen Pokphand Foods PCL, Cargill Inc., Aller Aqua A/S, Nutreco NV, Ridley Corporation, and Avanti Feeds Ltd.
Regional Classification of the Global Aquafeed Market is Listed Below:
North America
- U.S.
- Canada
Europe
- Germany
- France
- Spain
- U.K.
- Italy
- Russia
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East and Africa
- GCC
- South Africa
- Rest of Middle East & Africa
*Regions and countries are subject to change based on data availability.
Key Elements Included In The Study: Global Aquafeed Market
- Aquafeed Market by Product/Technology/Grade, Application/End-user, and Region
- Executive Summary (Opportunity Analysis and Key Trends)
- Historical Market Size and Estimates, Value and Volume, 2019 - 2022
- Volume Consumption at Regional and Country Level, 2023 - 2030
- Market Dynamics and Economic Overview
- Market Size in Value and Volume, Growth Rates, and Forecast Figures, 2023 - 2030
- Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies
- Regional and Product/Grade/Application/End-user Price Trends Analysis
- Production Output Analysis (Major Producing Regions)
- Value Chain and Five Force’s Analysis
- Regional/Sub-region/Country Market Size and Trend Analysis
- Company Market Share Analysis and Key Player Profiles
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1. Executive Summary
1.1. Global Aquafeed Market Snapshot
1.2. Key Market Trends
1.3. Future Projections
1.4. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.1.1. Driver A
2.2.1.2. Driver B
2.2.1.3. Driver C
2.2.2. Restraints
2.2.2.1. Restraint 1
2.2.2.2. Restraint 2
2.2.3. Market Opportunities Matrix
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. Covid-19 Impact Analysis
2.5.1. Pre-covid Scenario
2.5.2. Supply
2.5.3. Demand
2.6. Government Regulations
2.7. Global Aquaculture Market
2.8. Economic Analysis
2.9. PESTLE Analysis
3. Production Output and Trade Statistics, 2019 - 2022
3.1. Aquafeed Supply-Demand Analysis
3.2. Production Statistics
3.3. Trade Statistics
4. Price Trends Analysis and Future Projects, 2019 - 2030
4.1. Key Highlights
4.2. Prominent Factors Affecting Prices
4.3. By Form
4.4. By Region
5. Global Aquafeed Market Outlook, 2019 - 2030
5.1. Global Aquafeed Market Outlook, by Form, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
5.1.1. Key Highlights
5.1.1.1. Dry
5.1.1.1.1. Pellet
5.1.1.1.2. Powder
5.1.1.1.3. Flake
5.1.1.2. Wet
5.1.1.3. Moist
5.1.2. BPS Analysis/Market Attractiveness Analysis
5.2. Global Aquafeed Market Outlook, by Ingredients, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
5.2.1. Key Highlights
5.2.1.1. Amino Acids
5.2.1.2. Vitamins & Minerals
5.2.1.3. Antimicrobials
5.2.1.4. Feed Acidifiers
5.2.1.5. Antioxidants
5.2.1.6. Misc. (Enzymes, etc.)
5.2.2. BPS Analysis/Market Attractiveness Analysis
5.3. Global Aquafeed Market Outlook, by Fish Type, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
5.3.1. Key Highlights
5.3.1.1. Freshwater Fish
5.3.1.1.1. Carps
5.3.1.1.2. Tilapia
5.3.1.1.3. Catfish
5.3.1.1.4. Yellowtail
5.3.1.1.5. Snakehead
5.3.1.1.6. Misc.
5.3.1.2. Marine Fish
5.3.1.2.1. Bass
5.3.1.2.2. Croaker
5.3.1.2.3. Groupers
5.3.1.2.4. Misc.
5.3.1.3. Crustacean
5.3.1.3.1. Shrimp
5.3.1.3.2. Crab
5.3.1.3.3. etc.
5.3.1.4. Mollusk
5.3.1.5. Misc.
5.3.2. BPS Analysis/Market Attractiveness Analysis
5.4. Global Aquafeed Market Outlook, by Region, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
5.4.1. Key Highlights
5.4.1.1. North America
5.4.1.2. Europe
5.4.1.3. Asia Pacific
5.4.1.4. Latin America
5.4.1.5. Middle East & Africa
5.4.2. BPS Analysis/Market Attractiveness Analysis
6. North America Aquafeed Market Outlook, 2019 - 2030
6.1. North America Aquafeed Market Outlook, by Form, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
6.1.1. Key Highlights
6.1.1.1. Dry
6.1.1.1.1. Pellet
6.1.1.1.2. Powder
6.1.1.1.3. Flake
6.1.1.2. Wet
6.1.1.3. Moist
6.1.2. BPS Analysis/Market Attractiveness Analysis
6.2. North America Aquafeed Market Outlook, by Ingredients, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
6.2.1. Key Highlights
6.2.1.1. Amino Acids
6.2.1.2. Vitamins & Minerals
6.2.1.3. Antimicrobials
6.2.1.4. Feed Acidifiers
6.2.1.5. Antioxidants
6.2.1.6. Misc. (Enzymes, etc.)
6.2.2. BPS Analysis/Market Attractiveness Analysis
6.3. North America Aquafeed Market Outlook, by Fish Type, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
6.3.1. Key Highlights
6.3.1.1. Freshwater Fish
6.3.1.1.1. Carps
6.3.1.1.2. Tilapia
6.3.1.1.3. Catfish
6.3.1.1.4. Yellowtail
6.3.1.1.5. Snakehead
6.3.1.1.6. Misc.
6.3.1.2. Marine Fish
6.3.1.2.1. Bass
6.3.1.2.2. Croaker
6.3.1.2.3. Groupers
6.3.1.2.4. Misc.
6.3.1.3. Crustacean
6.3.1.3.1. Shrimp
6.3.1.3.2. Crab
6.3.1.3.3. etc.
6.3.1.4. Mollusk
6.3.1.5. Misc.
6.3.2. BPS Analysis/Market Attractiveness Analysis
6.4. North America Aquafeed Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
6.4.1. Key Highlights
6.4.1.1. U.S.
6.4.1.2. Canada
6.4.2. BPS Analysis/Market Attractiveness Analysis
7. Europe Aquafeed Market Outlook, 2019 - 2030
7.1. Europe Aquafeed Market Outlook, by Form, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
7.1.1. Key Highlights
7.1.1.1. Dry
7.1.1.1.1. Pellet
7.1.1.1.2. Powder
7.1.1.1.3. Flake
7.1.1.2. Wet
7.1.1.3. Moist
7.1.2. BPS Analysis/Market Attractiveness Analysis
7.2. Europe Aquafeed Market Outlook, by Ingredients, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
7.2.1. Key Highlights
7.2.1.1. Amino Acids
7.2.1.2. Vitamins & Minerals
7.2.1.3. Antimicrobials
7.2.1.4. Feed Acidifiers
7.2.1.5. Antioxidants
7.2.1.6. Misc. (Enzymes, etc.)
7.2.2. BPS Analysis/Market Attractiveness Analysis
7.3. Europe Aquafeed Market Outlook, by Fish Type, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
7.3.1. Key Highlights
7.3.1.1. Freshwater Fish
7.3.1.1.1. Carps
7.3.1.1.2. Tilapia
7.3.1.1.3. Catfish
7.3.1.1.4. Yellowtail
7.3.1.1.5. Snakehead
7.3.1.1.6. Misc.
7.3.1.2. Marine Fish
7.3.1.2.1. Bass
7.3.1.2.2. Croaker
7.3.1.2.3. Groupers
7.3.1.2.4. Misc.
7.3.1.3. Crustacean
7.3.1.3.1. Shrimp
7.3.1.3.2. Crab
7.3.1.3.3. etc.
7.3.1.4. Mollusk
7.3.1.5. Misc.
7.4. Europe Aquafeed Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
7.4.1. Key Highlights
7.4.1.1. Germany
7.4.1.2. France
7.4.1.3. U.K.
7.4.1.4. Italy
7.4.1.5. Russia
7.4.1.6. Rest of Europe
7.4.2. BPS Analysis/Market Attractiveness Analysis
8. Asia Pacific Aquafeed Market Outlook, 2019 - 2030
8.1. Asia Pacific Aquafeed Market Outlook, by Form, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
8.1.1. Key Highlights
8.1.1.1. Dry
8.1.1.1.1. Pellet
8.1.1.1.2. Powder
8.1.1.1.3. Flake
8.1.1.2. Wet
8.1.1.3. Moist
8.1.2. BPS Analysis/Market Attractiveness Analysis
8.2. Asia Pacific Aquafeed Market Outlook, by Ingredients, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
8.2.1. Key Highlights
8.2.1.1. Amino Acids
8.2.1.2. Vitamins & Minerals
8.2.1.3. Antimicrobials
8.2.1.4. Feed Acidifiers
8.2.1.5. Antioxidants
8.2.1.6. Misc. (Enzymes, etc.)
8.2.2. BPS Analysis/Market Attractiveness Analysis
8.3. Asia Pacific Aquafeed Market Outlook, by Fish Type, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
8.3.1. Key Highlights
8.3.1.1. Freshwater Fish
8.3.1.1.1. Carps
8.3.1.1.2. Tilapia
8.3.1.1.3. Catfish
8.3.1.1.4. Yellowtail
8.3.1.1.5. Snakehead
8.3.1.1.6. Misc.
8.3.1.2. Marine Fish
8.3.1.2.1. Bass
8.3.1.2.2. Croaker
8.3.1.2.3. Groupers
8.3.1.2.4. Misc.
8.3.1.3. Crustacean
8.3.1.3.1. Shrimp
8.3.1.3.2. Crab
8.3.1.3.3. etc.
8.3.1.4. Mollusk
8.3.1.5. Misc.
8.4. Asia Pacific Aquafeed Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
8.4.1. Key Highlights
8.4.1.1. China
8.4.1.2. Japan
8.4.1.3. India
8.4.1.4. Southeast Asia
8.4.1.5. Rest of Asia Pacific
8.4.2. BPS Analysis/Market Attractiveness Analysis
9. Latin America Aquafeed Market Outlook, 2019 - 2030
9.1. Latin America Aquafeed Market Outlook, by Form, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
9.1.1. Key Highlights
9.1.1.1. Dry
9.1.1.1.1. Pellet
9.1.1.1.2. Powder
9.1.1.1.3. Flake
9.1.1.2. Wet
9.1.1.3. Moist
9.1.2. BPS Analysis/Market Attractiveness Analysis
9.2. Latin America Aquafeed Market Outlook, by Ingredients, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
9.2.1. Key Highlights
9.2.1.1. Amino Acids
9.2.1.2. Vitamins & Minerals
9.2.1.3. Antimicrobials
9.2.1.4. Feed Acidifiers
9.2.1.5. Antioxidants
9.2.1.6. Misc. (Enzymes, etc.)
9.2.2. BPS Analysis/Market Attractiveness Analysis
9.3. Latin America Aquafeed Market Outlook, by Fish Type, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
9.3.1. Key Highlights
9.3.1.1. Freshwater Fish
9.3.1.1.1. Carps
9.3.1.1.2. Tilapia
9.3.1.1.3. Catfish
9.3.1.1.4. Yellowtail
9.3.1.1.5. Snakehead
9.3.1.1.6. Misc.
9.3.1.2. Marine Fish
9.3.1.2.1. Bass
9.3.1.2.2. Croaker
9.3.1.2.3. Groupers
9.3.1.2.4. Misc.
9.3.1.3. Crustacean
9.3.1.3.1. Shrimp
9.3.1.3.2. Crab
9.3.1.3.3. etc.
9.3.1.4. Mollusk
9.3.1.5. Misc.
9.4. Latin America Aquafeed Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
9.4.1. Key Highlights
9.4.1.1. Brazil
9.4.1.2. Mexico
9.4.1.3. Rest of Latin America
9.4.2. BPS Analysis/Market Attractiveness Analysis
10. Middle East & Africa Aquafeed Market Outlook, 2019 - 2030
10.1. Middle East & Africa Aquafeed Market Outlook, by Form, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
10.1.1. Key Highlights
10.1.1.1. Dry
10.1.1.1.1. Pellet
10.1.1.1.2. Powder
10.1.1.1.3. Flake
10.1.1.2. Wet
10.1.1.3. Moist
10.1.2. BPS Analysis/Market Attractiveness Analysis
10.2. Middle East & Africa Aquafeed Market Outlook, by Ingredients, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
10.2.1. Key Highlights
10.2.1.1. Amino Acids
10.2.1.2. Vitamins & Minerals
10.2.1.3. Antimicrobials
10.2.1.4. Feed Acidifiers
10.2.1.5. Antioxidants
10.2.1.6. Misc. (Enzymes, etc.)
10.2.2. BPS Analysis/Market Attractiveness Analysis
10.3. Middle East & Africa Aquafeed Market Outlook, by Fish Type, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
10.3.1. Key Highlights
10.3.1.1. Freshwater Fish
10.3.1.1.1. Carps
10.3.1.1.2. Tilapia
10.3.1.1.3. Catfish
10.3.1.1.4. Yellowtail
10.3.1.1.5. Snakehead
10.3.1.1.6. Misc.
10.3.1.2. Marine Fish
10.3.1.2.1. Bass
10.3.1.2.2. Croaker
10.3.1.2.3. Groupers
10.3.1.2.4. Misc.
10.3.1.3. Crustacean
10.3.1.3.1. Shrimp
10.3.1.3.2. Crab
10.3.1.3.3. etc.
10.3.1.4. Mollusk
10.3.1.5. Misc.
10.3.2. BPS Analysis/Market Attractiveness Analysis
10.4. Middle East & Africa Aquafeed Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
10.4.1. Key Highlights
10.4.1.1. GCC
10.4.1.2. South Africa
10.4.1.3. Rest of Middle East & Africa
10.4.2. BPS Analysis/Market Attractiveness Analysis
11. Competitive Landscape
11.1. Company Market Share Analysis, 2021
11.2. Competitive Dashboard
11.3. Product vs Application Heatmap
11.4. Company Profiles
11.4.1. Cargill, Inc.
11.4.1.1. Company Overview
11.4.1.2. Product Portfolio
11.4.1.3. Financial Overview
11.4.1.4. Business Strategies and Development
11.4.2. Alltech, Inc.
11.4.3. Aller Aqua A/S
11.4.4. BioMar A/S
11.4.5. Charoen Pokphand Group
11.4.6. Nutreco NV
11.4.7. Beneo Ingredients GmbH
11.4.8. Royal DSM
11.4.9. Avanti Feeds Ltd.
11.4.10. Archer Daniels Midland Company
11.4.11. Nutreco N.V.
11.4.12. Dibaq Aquaculture
11.4.13. Purina Animal Nutrition
12. Appendix
12.1. Research Methodology
12.2. Report Assumptions
12.3. Acronyms and Abbreviations
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BASE YEAR |
HISTORICAL DATA |
FORECAST PERIOD |
UNITS |
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 |
2021 |
 |
2019 - 2021 |
 |
2022 - 2030 |
Value: US$ Million |
|
REPORT FEATURES |
DETAILS |
|
Form Coverage |
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Ingredients Coverage |
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|
Fish Type Coverage |
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Geographical Coverage |
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Leading Market Companies |
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Report Highlights |
Market Estimates and Forecast, Market Dynamics, Industry Trends, Production Output, Trade Statistics, Competition Landscape, Form-, Ingredients-, Fish Type-, Region-, Country-wise Trends & Analysis, COVID-19 Impact Analysis (Demand and Supply), Key Market Trends |
Our Research Methodology
Considering the volatility of business today, traditional approaches to strategizing a game plan can be unfruitful if not detrimental. True ambiguity is no way to determine a forecast. A myriad of predetermined factors must be accounted for such as the degree of risk involved, the magnitude of circumstances, as well as conditions or consequences that are not known or unpredictable. To circumvent binary views that cast uncertainty, the application of market research intelligence to strategically posture, move, and enable actionable outcomes is necessary.
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