Aqua Feed Market Overview, Industry Top Manufactures, Market Size, Industry Growth Analysis & Forecast: 2023

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Target Audience of Aqua Feed Market: Manufacturer / Potential Investors, Traders, Distributors, Wholesalers, Retailers, Importers and Exporters, Association and government bodies.

Aqua Feed Market Report in 360MarketUpdates.com

Aqua Feed Market Report provides key statistics on the market status of the Aqua Feed Key-players/Manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the Industry

Increasing Demand for Fish and Fish- Based Products is expected to drive the Aqua Feed Market

With the globally increasing demand for fish and fish-based products, the compound feed demand in the aquatic animal food industry is also expected to increase. The growth is particularly high in emerging countries, such as China, India, and Brazil, owing to the increasing income levels due to expanding the middle class and increasing demand for seafood in these countries. The Asia-Pacific market, though accounts for a significant share in the overall market, is relatively unexplored, owing to the low level of organizing in the industry.

The world’s aquafeed business is highly fragmented, and global players, like Cargill compete with a lot of regional feed producers. Around 35% of the aquafeed market is divided among four global companies, none of which has more than a 12% market share.

Asia-Pacific Region is the Largest Market for Aqua Feed

The aquaculture business is centered in Asia, particularly, in China. The region accounts for more than one-third of the world aquaculture production, by volume. China alone comprised more than 50% of the global fish production. Besides China, the region is also home to major producers, such as India, Vietnam, and Thailand. The aquafeed industry in this region is driven by factors, such as increasing fish consumption and growth in the processed seafood industry, owing to rise in middle-class incomes in developing countries.

Increasing Costs of Raw Material is expected to weigh on the Growth of the Market

The demand for high-quality aqua feed from the industry, owing to growth in the aquaculture industry, has elicited the increase in consumption of compound feed and feed additives. The feed availability has become a critical issue for the aquafeed industry. With the growing global population and a corresponding rise in a food shortage, the industry is facing severe pressure in procuring raw feed, such as fish meal and fish oil, which are very crucial for manufacturing aqua feed and the growth of the aquaculture industry. Feed acids, antioxidants, and vitamins are mainly extracted from natural sources, such as seeds, tree barks, and plant leaves. The rising costs of extraction from these sources, coupled with stringent regulations over waste biomaterials and wastewater treatment, have a limiting effect on the global market. Oceans are tapped out, and the environmental regulations surrounding the wild, marine or inland fisheries has made it difficult to procure raw materials, such as fish meal and fish oil for feed. Prices are expected to soar owing to increasing demand, and adversely affect the aquafeed market. Regulatory issues are the biggest constraints for the feed industry.

Stringent Regulations in Developed Countries is Expected to Restrain the Market Growth

The animal feed production comes under feedstuff regulations in most countries. The regulatory framework is getting increasingly strict, such as the ones in 2006 in European Union and in 2009 in US, where, the ban on the use of antibiotics, as growth promoters in animals, was seen. Many countries, including China, Thailand, and Vietnam that export fish to Europe and US do not have such regulations against antibiotics or animal proteins usage in animals or feeds. Such disparities in regulations have adverse effects on the global fish and aqua feed trade, especially between developed and developing economies. The feed and feed additive producers are required to follow strict regulations related to regional and national health and safety, for gaining product approval in the developed nations. These regulations ultimately affect the cost of the final product. Such regulatory initiatives are posing challenges for existing feed products, and increasing the price of new feed development.

Major Players: NUTRIAD INTERNATIONAL NV, BIOMAR A/S, ALLTECH INC., CARGILL INCORPORATED, ARCHER DANIELS MIDLAND CO. AND ALLER AQUA A/S amongst others.

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Major companies covered in this Report:

  • Alltech Inc.
  • Aller Aqua A/S
  • Biomar A/S
  • Skretting
  • Cargill Incorporated
  • Nutreco N.V.
  • Ridley Corporation
  • Archer Daniels Midland Co.
  • Hanpel Tech Co. LTD
  • Nutriad International

Reasons To Purchase This Report:

  • Provides latest insights into the Global Aqua Feed industry
  • Studies on the region expected to witness the fastest growth during the forecast period
  • Identifies the latest developments, market shares, and strategies employed by the major market players
  • Analyzes the market scenario with the help of Porter’s Five Forces Analysis
  • Analysis of the impact of regulations in developed countries on the aquafeed industry
  • 3-month analyst support, along with the Market Estimate Sheet (in excel)

    Purchase Aqua Feed Market Report at $ 4250(SUL) @ https://www.360marketupdates.com/purchase/12885209

    This Aqua Feed market report offers an overview of the market trends, drivers, and barriers with respect to the market. A detailed analysis of key players, along with key growth strategies adopted by them is also covered in this report on Aqua Feed market.