"Aquaculture, not the Internet, represents the most promising investment opportunity of the 21st Century."
- Peter Drucker, Management Expert & Economist
- Peter Drucker, Management Expert & Economist
2016-04-11Global 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.
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 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
AQUAFEED MARKET KEY SEGMENTS:
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