Aquafeed Market Strategies, Top Players, Growth Opportunities, Analysis, and Forecast by 2031

The aquafeed market is expected to register a CAGR of 7% during 2023–2031. The rising seafood consumption and rising focus on alternative protein sources are likely to remain a key trend in the market.

Aquafeed Market Analysis

• Aquafeed is a specific food produced from fish and plant-based raw ingredients specifically for aquatic animals.
• Aquafeed is crucial because it gives fish the nutrition, they require to grow. It is made up of several materials, including oilseeds, grains, pulses, and corn, to which different feed additives are added to improve Aquafeed's effectiveness.
• Aquatic animals obtain it according to their life cycles. Aquafeed's growth-promoting, immune-resistant, and nutritional qualities have made it crucial to the aquaculture sector.
• The global aquafeed market is mainly influenced by factors such as rising aquaculture production, technological advancements, and consumer awareness of sustainable products.

Aquafeed Market Overview

• Aquafeed is the term for the food that is made specifically for feeding aquatic animals. The purpose of serving this material to aquatic animals is to improve their growth and nutrition.
• Based on their species, the aquafeed market is broadly categorised into crustaceans, fish, molluscs, and others.
• To increase Aquafeed's efficacy, various feed additives are added to a variety of commodities, such as grains, pulses, oilseeds, and corn.
• It is obtained by aquatic species by their life cycles. The drivers driving the Aquafeed market and creating market demand include increasing aquaculture production, technological advances, and consumer awareness of sustainable products.

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Aquafeed Market: Strategic Insights

Aquafeed Market

• Market Size 2023
  US$ XX Million
• Market Size 2031
  US$ XX Million

Market Dynamics

GROWTH DRIVERS

• Rapid expansion of the aquaculture industry is expected to drive the growth of the aquafeed market

FUTURE TRENDS

• The rising seafood consumption and rising focus on alternative protein sources

OPPORTUNITIES

• Health and nutrition focus

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Species

• Crustaceans
• Fish
• Molluscs

Lifecycle

• Starter Feed
• Grower Feed
• Finisher Feed
• Brooder Feed

Ingredient Types

• Soybean
• Corn
• Fishmeal
• Additives

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Aquafeed Market Drivers and Opportunities

Rapid expansion of the aquaculture industry is expected to drive the growth of the aquafeed market

• The massive growth in aquaculture as a result of rising global demand for seafood is among the prominent factors igniting the high-quality aquafeed demand.
• Global seafood demand is rising steadily due to population growth, increasing disposable incomes, and recognition of seafood as a healthy protein source. With wild fish stocks under pressure, aquaculture has emerged as the solution to meet this growing demand.
• The more fish are farmed, the more feed is required, and that means that total demand for aquafeed is generally increasing.
• As aquaculture moves away from conventional species, specific feeds must be made for different types of fish.
• Intensive farming practices necessitate highly efficient feeds to optimize growth and minimize waste.

Health and nutrition focus

• Growing awareness of fish health and nutrition is indeed leading to increased demand for specialized and functional aquafeeds.
• Furthermore, farmers are realising that their fish thrive when cared for, and that this can translate into better production results. The growing demand for feeds that improve animal health and immune function is shaping this industry.
• We see a growth in functional feeds, which contain immunostimulants as well as other functional ingredients that can be used as prevention that reduces the use of antibiotics and other anti-microbials.
• Farmers are seeking feeds tailored to different life stages of fish, from larval development to broodstock conditioning, optimizing nutrition at each growth phase.

Aquafeed Market Report Segmentation Analysis

Key segments that contributed to the derivation of the aquafeed market analysis are type and application.

• Based on species, the aquafeed market is segmented into crustaceans, fish, molluscs, and others.
• Based on lifecycle, the aquafeed market is segmented into starter feed, grower feed, finisher feed, and brooder feed.
• Based on ingredient types, the aquafeed market is segmented into soybean, corn, fishmeal, additives, and others.

Aquafeed Market Share Analysis by Geography

• Aquafeed Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering aquafeed market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers Porter’s Five Forces analysis, which involves the study of major factors that influence the aquafeed market in these regions.

Aquafeed Market Market Report Scope

Aquafeed Market News and Recent Developments

The aquafeed market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the aquafeed market are listed below:

• De Heus launches dedicated aquafeed plant. De Heus a leading animal nutrition company, has launched the opening of a dedicated fish feed plant in Njeru, Buikwe District, Uganda. (Source: Newsletter, De Heus, Jul 2023)
• MiAlgae launches novel omega-3 product for use in aquafeed. Scottish biotech company MiAlgae has launched its latest product, NaturAlgae, an omega-3 powder that can be used as a nutritious feed ingredient.. (Source: Newsletter, MiAlgae, Apr 2023)

Aquafeed Market Report Coverage and Deliverables

The “Aquafeed Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Aquafeed market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Aquafeed market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Aquafeed market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the aquafeed market
• Detailed company profiles