Overview:
Market Research Future(MRFR) in their recent report on the aquafeed market claimed that the market
could enjoy a robust growth during the forecast period (2020-2027) and exceed
anticipated valuation by the end of 2023. Aquafeed is the commercially produced
food for fish. It provides fish and other aquatic species such as shrimps,
mollusks, and many others with proper nutrients. Aquafeeds comprises wheat,
corn, pulses, oilseeds, and many other products, along with additives which can
increase the functionality of the aquafeeds. Mostly these feeds come in pellet
or granule format with nutrients concentrated in that. Some fishes follow a
typical carnivorous diet, and for them, fish meal and fish oil are served,
along with vegetable proteins, cereal grains, vitamins, and minerals. MRFR, in
their recent article on the market, puts the spotlight on the segments where
the report discusses the value-wise and volume-wise distribution of the entire
market. Also, the report includes factors that can substantially push the
market forward during the forecast period.
The market is gettinghigh traction from the changes in the common dietary patterns. Fishes are quite
easily available and affordable and are rich sources of several nutrients and
fatty acids which is why the middle-class population is banking much on the
consumption of this. In addition, many companies are taking a keen interest in
the production as the scope for expansion in the aquafeed market is quite
substantial.
CompetitiveLandscape:
Major players profiledin the aquafeed market report published by MRFR are BioMar Group (Denmark),
Cargill Inc. (U.S.), BASF (Germany), Waterbase Ltd (India), Alltech Inc.
(U.S.), Coppen International BV (Netherlands), Zeigler bros. Inc. (U.S.),
Ridley Corporation (Australia), Evonik Industries (Germany), Marvesa
(Netherland), and others.
Segmentation:
The global aquafeedmarket statistics, as per MRFR, can be segmented by species, ingredients,
additive type, and life cycle.
Based on the species,the aquafeed market size can be segmented into carps, mollusks, shrimps,
crustaceans, catfish, trouts, and others. The shrimp segment is having a great
go in the market, and the rank-wise scenario would not change much in the
coming years.
Based on theingredients, the aquafeed ingredients market can be segmented into wheat, corn,
pulses, oilseeds, and others. The wheat segment is currently holding the
maximum share of the market, and the situation is going to remain the same
during the forecast period.
Based on the additivetype, the fish feedmarket includes vitamins, antioxidant, antibiotics, feed enzymes, aminoacid, and others. The vitamins segment has the rein, and the segment can expect
the fastest CAGR over the review period.
Based on the lifecycle, the aquafeed market comprises alevin, fry, smolts, and adult. The smolt
segment is spearheading the market and can shoulder the growth in the coming
years as well.
Regional Analysis:
MRFR segments theglobal aquafeed market on the basis of the region into North America, Europe,
Asia-Pacific (APAC), and the Rest-of-the-World (ROW).
The APAC market hasthe upper hand in the global market. Several countries, with huge coastline,
are depending much on the fishing industry. At the same time, the local
industry is banking much on the fishing culture as it can provide substantial
nutrients to the plate of consumers. China is leading the regional market with
substantial market share and is also exporting much worldwide and fetching in
unparalleled revenue. Meanwhile, India is promoting itself as one of the
fastest growing regions. Strong preference for fish as a dietary option is
providing substantial thrust to the regional market.
North America andEurope can expect tremendous growth in aquafeed additives market due to a substantial rise in the consumptionof seafood. At the same time, companies in these regions are trying to come out
with products that would be high on nutrients to meet the regular consumption
pattern of people.
Industry News
In 2018, Green PlainsInc. and Optimal Fish Food LLC had announced a joint venture where the motif is
to make better products with good nutritional value. In this regard, these
companies have vowed to integrate new technologies and innovations.
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