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"Aquaculture, not the Internet, represents the most promising investment opportunity of the 21st Century."

- Peter Drucker, Management Expert & Economist

2016-04-11

Global Aquafeed Market Expected to Reach $156 Billion by 2022

Increasing global seafood consumption and growing consumer awareness on quality of seafood products are boosting the aquaculture production. Furthermore, increasing consumer concerns and regulatory pressure to maintain high quality of products to avoid any outbreak of diseases (salmonella, botulism, melioidosis) is pushing quality of aquafeed upwards. Finally, rising per capita income, especially from developing nations, is expected to maintain the growth of aquaculture and aquafeed industry.

According to a new report published by Allied Market Research, the global aquafeed market is poised to reach $156 billion by 2022 with a CAGR of 13.3% during 2016 and 2022.

However, factors such as increasing raw material prices (fish meal, fish oil, wheat barley including others) and stringent regulatory structures formulated for manufacturing aquafeed additives, would hinder the market growth.


Aquafeeds are compounded meals prepared for aquatic animals by mixing various raw materials and additives. These blends are prepared according to specific requisite of the species and age of the animal.

Aquafeed has become crucial to aquaculture industry due to its nutritional, immune resistant, and growth promoting properties. High quality aquafeed is exponentially more beneficial to fish, mollusks, crustaceans & other aquatic animals than farm-made feed due to their balanced and need specific composition.

The world aquafeed market was evaluated at $64.9 billion in 2015 and is estimated to garner $156 billion by 2022, registering a CAGR of 13.3% over the forecast period 2016-2022.

The world aquafeed market is segmented based on end consumption, additives and geography. The end consumption segment is further bifurcated into fish, mollusks, crustaceans, and others.

Due to the increase in income levels and demand for protein rich healthy food products globally, the increasing per capita consumption of fish, crustaceans and mollusks is expected to continue during the forecast period. Seafood is a good source of protein rich diet which is available on 3/4th of the planet, with current population and consumption trends the burden on land based food products is required to be controlled. Hence with rise in aquaculture to sustain the demand for seafood for the growing population, the aquafeed industry is also rising.

Animals

Fish is further segmented into various types such as carp, salmon, tilapia, and catfish among others.

Carp fish type has been observed to have the highest market share in fish feed market. This is due to their abundant availability and popularity as common carp fish types are tolerant to most water conditions. Around half of the fish feed was consumed by carps and salmon collectively in 2015.

Additives

Based on additives, the market is segmented into vitamins, antioxidants, amino acids, enzymes, acidifiers, and binders. The demand for amino acids is increasing owing to its extensive application in aquafeed additives. Amino acids are the main components of protein, since animals require continuous supply of protein in their diet; it is considered as essential component of aquafeed. amino acids had a market share of 19% in the total of aquafeed enzymes market in 2015.

Geography

Geographically, the world aquafeed market is segmented into North America, Europe, Asia-Pacific and LAMEA. Asia-Pacific and LAMEA would provide lucrative growth opportunities until 2022, owing to considerable increase in aquaculture production and increasing global seafood consumption. In the year 2015, Norway accounted for the highest market share with around one fourth of the total European aquafeed market, due high demand for salmon fish feed.

Key findings of the study

Crustaceans is projected to be the fastest growing segment in world aquafeed market registering a CAGR of 13.7% (value terms) during 2016 and 2022.
Amino acid is projected to be the fastest growing additive segment in world aquafeed additives market registering a CAGR of 7.9%.
Carps held 39.9% market share in the fish segment in 2015, in terms of volume.
Asia-Pacific is projected to occupy the highest market share with a CAGR of 13.1%.
China would continue to lead the aquafeed market at a CAGR of 12.3%.
Brazil held more than half of the market share in the LAMEA region in 2015, whereas South Africa intends to grow at a CAGR of 14.1% during the period under consideration.

The Asia-Pacific and LAMEA aquafeed market would offer lucrative growth opportunities during the forecast period, owing to increase seafood consumption, food safety concerns and rise in disposable income.

In the Asia-Pacific market, China is the major aquafeed producer followed by Indonesia, Thailand, and India. South Africa and Brazil, in LAMEA, would exhibit a high CAGR of 14.1% and 13.9% (value terms), respectively. The European Union enforces the aquafeed industry in Brazil, which is a major exporter of seafood to Europe, to opt for better & safe feed additives and raw materials, thereby fuelling the growth of this market.

The key players profiled in the world aquafeed market include, AllerAqua A/S, Cargill, Inc., Beneo GmbH, Biomar A/S, Avanti Feeds Ltd, Alltech Inc., Biomin GmbH, Charoen Pokphand Foods Public Company Limited, Nutreco N.V. and Coppens International B.V.

Contributors

Nutreco N.V. used acquisition and joint venture as key strategies for market growth, whereas AllerAqua A/S expanded into emerging economies for increasing their geographic reach. Cargill, Inc., Nutreco N.V., and Alltech Inc. are leading players providing a wide range of aquafeed products across all aquatic animal sectors worldwide. The key players profiled in world aquafeed market includes AllerAqua A/S, Cargill, Inc., Beneo GmbH, Biomar A/S, Avanti Feeds Ltd, Alltech Inc., Biomin GmbH, Charoen Pokphand Foods Public Company Limited, Nutreco N.V. and Coppens International B.V.

If you want to explore the market-report closer, you'll have to buy it. The process starts with single user at: 4515 US$.

The report is available her (click)

Key Market Benefits

  • The report provides quantitative analysis of current market and estimations through 2014-2022 that assists in identifying the prevailing market opportunities.
  • The projections in the report are based on the current market trends and future market potential.
  • Comprehensive analysis of geographic regions helps in determining the prevailing opportunities in these regions.
  • SWOT analysis highlights the strength, weakness, threats, and opportunities of leading companies operating in the market.
  • Exhaustive analysis of the world aquafeed market by end-consumption type helps in understanding the varieties of aquafeeds that are currently being used and that would gain prominence in the future
  • Key market players within the aquafeed market are profiled in the report and their strategies are analyzed thoroughly, which helps in understanding the competitive outlook of world aquafeed market.

AQUAFEED MARKET KEY SEGMENTS:

  • World Aquafeed Market - By End Use
    • Fish
      • Carp
      • Salmon
      • Tilapia
      • Catfish
      • Others
    • Mollusks
      • Oyster
      • Mussel
      • Others
    • Crustaceans
      • Shrimp
      • Crab
      • Others
    • Others
  • World Aquafeed Market - By Additives
    • Vitamins
    • Minerals
    • Antioxidants
    • Amino Acids
    • Enzymes
    • Acidifiers
    • Binders
  • World Aquafeed Market - By Geography
    • North America
      • United States
      • Canada
      • Mexico
    • Europe
      • Italy
      • France
      • Spain
      • Norway
      • Rest of Europe
    • Asia-Pacific
      • China
      • Japan
      • Indonesia
      • Thailand
      • India
      • Rest of Asia-Pacific
    • LAMEA
      • Brazil
      • South Africa
      • Rest of LAMEA






 
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