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.

Fairfield

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

BASE YEAR		HISTORICAL DATA		FORECAST PERIOD		UNITS
	2021		2019 - 2021		2022 - 2030	Value: US$ Million

REPORT FEATURES	DETAILS
Form Coverage	Dry Pellet Powder Flake Wet Moist
Ingredients Coverage	Amino Acids Vitamins & Minerals Antimicrobials Feed Acidifiers Antioxidants Misc. (Enzymes, etc.)
Fish Type Coverage	Freshwater Fish Carps Tilapia Catfish Yellowtail Snakehead Misc. Marine Fish Bass Croaker Groupers Misc. Crustacean Shrimp Crab etc. Mollusk Misc.
Geographical Coverage	North America U.S. Canada Europe Germany France U.K. Italy Spain Russia Rest of Europe Asia Pacific China Japan South Korea India Southeast Asia Rest of Asia Pacific Latin America Brazil Mexico Rest of Latin America Middle East & Africa GCC South Africa Rest of Middle East & Africa
Leading Market Companies	Cargill, Inc. Alltech, Inc. Aller Aqua A/S BioMar A/S Charoen Pokphand Group Nutreco NV Beneo Ingredients GmbH Royal DSM Avanti Feeds Ltd. Archer Daniels Midland Company Nutreco N.V. Dibaq Aquaculture Purina Animal Nutrition
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

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)

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