Global Aquafeed Market Surges to US$ 93.19 Billion by 2029, Driven by Rising Fish Farming Activities

The Aquafeed Market has witnessed significant growth, with its value reaching US$ 58.03 billion in 2022 and projected to escalate to US$ 93.19 billion by 2029, demonstrating a steady CAGR of 7% during the forecast period. This surge is fueled by the emergence of new fish species in aquaculture, growing fish farming activities, and innovations in aquafeed ingredients.

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Report Scope:

The latest report on the Aquafeed Market provides a comprehensive analysis of the industry, offering insights into market dynamics, drivers, restraints, and regional trends. It presents valuable data and projections to aid decision-makers in understanding market dynamics and formulating effective strategies.

Research Methodology:

Our research methodology involves thorough primary and secondary research, including interviews with industry experts and analysis of market trends. The report utilizes advanced analytical tools and techniques to provide accurate forecasts and actionable insights, helping stakeholders navigate the dynamic Aquafeed Market landscape.

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Drivers of Market Growth:

Emergence of New Fish Species: The introduction of new fish species in aquaculture, such as meager, amberjack, and wreckfish, is creating new revenue opportunities for market players, driving demand for aquafeed.

Innovations in Feed Ingredients: Innovations in aquafeed ingredients, such as the introduction of plant-based materials and algae aquaculture feed, are revolutionizing feed formulations, improving nutritional value, and enhancing sustainability.

Rising Fish Farming Activities: Increasing fish farming activities, particularly in regions like Asia-Pacific and Latin America, are boosting demand for aquafeed, driven by changing dietary patterns, urbanization, and economic growth.

Restraints and Challenges:

Supply Chain Disruptions: Global supply chain disruptions, exacerbated by the COVID-19 pandemic, pose challenges in meeting the growing demand for aquafeed, leading to shortages and price escalations.

Counterfeit Products: The market faces challenges from counterfeit aquafeed products, which undermine consumer confidence and hinder market growth.

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Regional Insights:

Asia-Pacific: Dominating the global market, Asia-Pacific accounted for over 53% of the market's revenue in 2019, driven by increasing fish consumption, changing dietary habits, and economic growth in the region. China, in particular, has a high demand for fish and seafood products, surpassing domestic supply and relying on imports to meet demand.

North America and Europe: Despite relatively small aquaculture industries, North America and Europe have high demand for fish and seafood products. These regions depend on Asian producers to meet their demand due to limited domestic production.

Classification of the Aquafeed Market:

The fish section, which is based on end users, had the biggest share in 2019 and is predicted to increase at the quickest rate over the next several years. The least expensive and easiest to digest animal protein is fish. Fish feed is in higher demand as a result of the expansion of aquaculture and fish farming. Aquafeed is becoming more and more in demand as a result of the use of artificial environments like aquaponics and the Recirculating Aquaculture System (RAS) to boost fish productivity and availability for consumption.

by End User

Fish
Mollusks
Crustaceans

by Ingredient

Soybean
Corn
Additives
Fish meal
Fish oil

The aquafeed market is anticipated to be dominated by the soybean segment over the forecast period, based on the type of ingredients used. For aquafeed, soybean is a great source of protein because it has 48% high-quality protein. Because of its high nutrient content and abundance of easily absorbed amino acids and xanthophylls, it is widely utilized as a crucial source of protein in the creation of aquafeed.

by Additive

Antibiotics
Vitamins
Antioxidants
Amino acids
Feed enzymes
Feed Acidifiers

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Market Leaders in Aquafeed :

1. Archer Daniels Midland Company
2. Cargill
3. Alltech
4. Ridley Corporation Ltd.
5. Nutreco N.V
6. Avanti Feeds Ltd.
7. Biostadt India Ltd.
8. Nutriad
9. Aller Aqua A/S
10. BioMar
11. BIOMIN Holding GmbH
12. Norel Animal Nutrition
13. De Heus Animal Nutrition
14. Dibaq a.s

Section Heading: Aquafeed Industry

Part 01: Executive Summary

Part 02: Scope of the Aquafeed Market Report

Part 03: Aquafeed Market Landscape

Part 04: Aquafeed Market Sizing

Part 05: Aquafeed Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

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