Aquafeed Market share research by applications and regions for 2017-2024

Increasing awareness regarding the health benefits of seafood will heavily influence Aquafeed Market. As per medical experts, Consuming fish, crab, and other types of seafood is known to have a positive effect on the body, like reducing the occurrence of cardiovascular diseases. In addition, fish oil is extensively used in various medicines that help enhance the cognitive abilities of a growing fetus and reduce fat content, which in turn will boost aquafeed industry size noticeably. According to Global Market Insights, Inc., “Worldwide aquafeed market occupied a volume of 46 million tons in 2015 and will register an annual growth rate of above 11% over 2016 to 2023.”

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The frequency of fish harvesting across the globe has been increasing rapidly to fulfill the escalating demand for fish pertaining to its high nutritional content. In addition, consumer awareness regarding the nutritional value of fish and increased consumer purchasing power have led to an increase in the consumption and sale of various kinds of fish such as salmon and carps. Atlantic salmon is farmed commercially on rather large scale, owing to the fact that its farming technique is relatively simpler when compared to its counterparts, which will stimulate aquafeed market share. Aquafeed market size from Atlantic salmon will collect notable revenue, especially across Norway and Chile, since the consumption of this species helps to strengthen the heart and muscle function, in addition to enhancing the metabolism of the human body.

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The U.S. government has been promoting the farming of aquatic species considering the benefits of the consumption of seafood for obesity and mental health. With U.S. being one of the key contributors, North America aquafeed market will generate a revenue of USD 22 billion by 2023, owing to the growing demand for high quality seafood. The polyculture system has also been gaining remarkable importance across the U.S. Fish oil and fish meal are utilized extensively across the pharmaceutical and medical applications, which will subsequently fuel U.S. aquafeed market over the years to come.

Aquafeed market size from the food & beverage sector will gain renewed traction over the years to come, pertaining to the ability of seafood to reduce cholesterol and increase the nutritional content in the human body. Carps dominated the aquafeed industry in 2015 with a revenue collection of USD 21.5 billion and will exhibit noticeable CAGR over the years ahead. To increase the agricultural productivity, carp based aquafeed is used, which will favorably propel aquafeed market trends.

To maintain fish metabolism and enhance mineral absorption, amino acids are used extensively. Amino acid dominated aquafeed market by generating a revenue of USD 250 million in 2015 and will collect notable revenue by the end of 2023. Threonine, tryptophan, lysine, and methionine are few of the significant aquaculture additives. Additionally, amino acid has the capability to enhance protein efficiency utilization in animal feed.

The global population has been observed to give increased preference to the DHA/EPA ingredient (Omega 3), owing to its notable health benefits, which in turn will influence aquafeed industry share positively. As per estimates, Omega 3 Ingredients Market witness a demand of 92 kilo tons in 2014. This ingredient is extracted mainly from cod liver, tuna, salmon, and whale blubber seal.

People across the APAC region are giving preference to salmon farming pertaining to its easy methodology. Ample availability of fresh water will favor salmon production. Asia Pacific dominated the overall aquafeed market by collecting a revenue of USD 49 billion in 2015 and will record a considerable annual growth rate over the coming six years. China has also been expanding its aquaculture production by promoting salmon farming pertaining to its ability to grow within land based farms, where aquafeed is primarily used to increase the productivity. India, China, and Japan will contribute significantly toward the regional industry growth.

The key players in aquafeed market are Dibaq Aquaculture, Alltech, Biomin, Biomar, Cargill Inc., Ridley Aquafeeds Ltd., Aller Aqua, Addcon, BENEO GmbH, Archer Daniel Midland, Norel Nutrición Animal, BASF SE, Evonik Industries, Cermaq ASA, DSM, Novus International, Skretting, Nutriad International, InVivo NSA, EWOS, NK Ingredients Pte Ltd., De Heus, and Avanti Feeds Ltd.

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