Aquafeed Market Overview
Aquafeed Market to reach $87 Bn by 2027 at a CAGR of 6.80%. The worldwide aquafeed market 2022 through the review period till 2030. By 2030, the aquafeed market can rise at considerable rate to acquire substantial value. The rise in need for high nutritive value aqua feed can support expansion of the market in the near future. The surge of the global aqua feed market can be attributed to rise in its demand for across the expanding food and beverage sector. The gradual rise in the consumption of fish as preference for seafood products among consumers is observed to increase can favor the market rise. Expansion of the middle-income populace and rise in sales of aqua feed among them are other causes that can drive the market expansion.
Increase in the consumption of high protein diet and other essential nutrient, with Fish and shellfish as some of the sources, can promote expansion of the market. Moreover, doctors are observed to prescribe sea fish to meet daily dose of nutrients for patients. Thus, the aqua feed market is anticipated to rise at substantial rate in the years to come. The aquafeed market outlook can capitalize on the globalization of seafood value chain across various countries. In addition, the high quality aqua feed derived from crustaceans, fish, and mollusks other aquatic animals over farm-made feed can contribute to its large scale production. Thus, can favor expansion of the aqua feed market in the near future.
Competitive Analysis
Reputed marketers in the aqua feed market are shifting their focus on mergers and related activities that can aid in expanding of the product portfolio of the company. Renowned manufacturers are investing in innovations for aqua feed processing manufacturers can favor expansion of the market. Some of these reputed companies in the aqua feed are Zeigler bros. Inc. (U.S.), Coppen International BV (Netherlands), BioMar Group (Denmark), Cargill Inc. (U.S.), Alltech Inc. (U.S.), BASF (Germany), Evonik Industries (Germany) Waterbase Ltd (India), Ridley Corporation (Australia), and Marvesa (Netherland) among others
Market Segments
The segment assessment for the global aquafeed market outlook is done by aquatic species, additive type, ingredients, and life cycle.
The aquatic species-based segments of the aquafeed market are Molluscs, Carps, Catfish, Shrimps, Crustaceans, and Trout, among others. The shrimp segment can thrive in the near future. The high traction offered by crustaceans can favour a market rise in the approaching years.
The ingredient-based segments of the aquafeed market are pulses, oilseeds, wheat, corn, and other grains. In the analysis period, the pulses segment can win considerable profit for the global market.
The additive-type-based segments of the aquafeed market are antibiotics, vitamins, antioxidants, amino acids, and feed enzymes, among others. The antioxidant segment can earn a decent pace in the forecast tenure.
The life cycle-based segments of the aquaculture market are smolts, alevin, fry, and adults. The smolt segment can earn high revenues for the global market in the coming years.
Regional Analysis
North America, Asia Pacific, Europe, and the Rest of the World are key regions that are studied for the aquafeed market. In the Asia Pacific region, the market can rise at a decent pace through the assessment period as the region is observed to be the largest producer of seafood products. The rise in consumption of aquafeed products and extensive fish farming can propel the market upward. In North America, aqua feed manufacturers are observed to thrive as consumption of fish is high. In Europe, the aquafeed market insights can rise in the review period due to changing food habits.
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