Aquafeed
Market Size and Growth Rate:
Aquafeed Market Size was Expected to Reach at USD
172.56 Billion by 2022 with a CAGR of 9.9% during the forecast period
2018-2022.
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Aquafeed
Market Overview:
Aquafeed is defined as food that is specifically equipped
for aquatic animals in order to achieve their nutritional requirements.
Aquafeed is normally prepared with specific ingredients and additives that are
nutritive in nature and are complemented in very small amounts. It is now also
available in vast product ranges, owed to increased consumer attraction towards
its functionality and species-specific requirements. Aquafeed is obtained from
plant sources only, such as corn gluten meal, canola oil, soy meal, and
sunflower protein essence. Amongst them, the most usually used ingredient in
aquafeed is marine sources such as fish meal and fish oil.
There has been an increasing pressure on the livestock
industry to meet the mounting demand for high value animal protein, and fish is
easily known as the best source of Omega 3 Fatty Acids, EPA, and DHA.
Population growth, rising incomes in developing nations, and urbanization have
all led to a surge in global fish production. The level of income and
consumption of animal protein are positively connected to the increasing
consumption of fish and other seafoods at the outlay of staple foods. All these
reasons and more are expected to boost the aquafeed market substantially in the
forthcoming years.
Aquafeed
Market Growth Drivers and Restraints:
The most advertised and preferred form of aquafeed
among the entire global products, now, is the extruded type of aquafeed, due to
its high fragmentation rate and faster onset of action in fish. Rising usage of
aquafeed in crustacean and carp farming is also expected to fuel demand over
the course of the forecast period. Static natural production of fishes is likely
to boost an already flourishing market for aquaculture. Moreover, rising focus
on nutraceuticals, such as omega 3-enriched products, is scheduled to generate huge
opportunities for aquafeed applications.
Geographical
Overview of Aquafeed Market:
Geographically, the global aquafeed market is
segmented into North America, Europe, Asia-Pacific and LAMEA. Asia Pacific and
LAMEA would provide rewarding growth opportunities until 2022, owing to substantial
increase in aquaculture production and increasing seafood consumption. In the
year 2015, Norway had accounted for the highest market share with around one
fourth of the total European aquafeed market, due to the high demand for salmon
fish feed. Asia Pacific was also the most dominant regional market accounting
for 65% of global consumption in 2013.
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Key
Players of Aquafeed Market:
Some of the major companies in the global market are
AllerAqua A/S, Cargill, Inc., Beneo GmbH, Biomar A/S, Avanti Feeds Ltd, Alltech
Inc., Biomin GmbH, Nutreco N.V. and Coppens International B.V.
Aquafeed
Market Segmentation:
By
Ingredient:
·
Additives
·
Fish Oil
·
Fish Meal
By
Form:
·
Extruded
·
Pellet
·
Powder
·
Liquid
By
Species:
·
Fish
·
Crustaceans
By
Function:
·
Digestibility
·
Palatability
·
Special Nutrition
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