Aquafeed Market Key Findings 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
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Aquafeed Market: Strategic Insights
Shejal
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Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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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 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
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The global aquafeed market is expected to grow at a CAGR of 7% during the forecast period 2023 - 2031.
Rapid expansion of the aquaculture industry is expected to drive the growth of the aquafeed market.
The rising seafood consumption and rising focus on alternative protein sources to play a significant role in the global aquafeed market in the coming years.
The leading players operating in the aquafeed market are Avanti Feeds Ltd.; Cargill, Incorporated; ADM; BioMar AS.; Aller Aqua A/S; Nutreco NV; Charoen Pokphand Foods PCL.; Ridley Corporation Ltd.; Purina Animal Nutrition LLC.; Bühler.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Aquafeed Market - By Lifecycle
1.3.2 Aquafeed Market - By Aquatic Species
1.3.3 Aquafeed Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AQUAFEED MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. AQUAFEED MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. AQUAFEED MARKET - GLOBAL MARKET ANALYSIS
6.1. AQUAFEED - GLOBAL MARKET OVERVIEW
6.2. AQUAFEED - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. AQUAFEED MARKET - REVENUE AND FORECASTS TO 2028 - LIFECYCLE
7.1. OVERVIEW
7.2. LIFECYCLE MARKET FORECASTS AND ANALYSIS
7.3. STARTER FEED
7.3.1. Overview
7.3.2. Starter feed Market Forecast and Analysis
7.4. GROWER FEED
7.4.1. Overview
7.4.2. Grower feed Market Forecast and Analysis
7.5. FINISHER FEED
7.5.1. Overview
7.5.2. Finisher feed Market Forecast and Analysis
7.6. BROODER FEED
7.6.1. Overview
7.6.2. Brooder feed Market Forecast and Analysis
8. AQUAFEED MARKET - REVENUE AND FORECASTS TO 2028 - AQUATIC SPECIES
8.1. OVERVIEW
8.2. AQUATIC SPECIES MARKET FORECASTS AND ANALYSIS
8.3. FISH
8.3.1. Overview
8.3.2. Fish Market Forecast and Analysis
8.4. CRUSTACEANS
8.4.1. Overview
8.4.2. Crustaceans Market Forecast and Analysis
8.5. MOLLUSKS
8.5.1. Overview
8.5.2. Mollusks Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. AQUAFEED MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Aquafeed Market Overview
9.1.2 North America Aquafeed Market Forecasts and Analysis
9.1.3 North America Aquafeed Market Forecasts and Analysis - By Lifecycle
9.1.4 North America Aquafeed Market Forecasts and Analysis - By Aquatic Species
9.1.5 North America Aquafeed Market Forecasts and Analysis - By Countries
9.1.5.1 United States Aquafeed Market
9.1.5.1.1 United States Aquafeed Market by Lifecycle
9.1.5.1.2 United States Aquafeed Market by Aquatic Species
9.1.5.2 Canada Aquafeed Market
9.1.5.2.1 Canada Aquafeed Market by Lifecycle
9.1.5.2.2 Canada Aquafeed Market by Aquatic Species
9.1.5.3 Mexico Aquafeed Market
9.1.5.3.1 Mexico Aquafeed Market by Lifecycle
9.1.5.3.2 Mexico Aquafeed Market by Aquatic Species
9.2. EUROPE
9.2.1 Europe Aquafeed Market Overview
9.2.2 Europe Aquafeed Market Forecasts and Analysis
9.2.3 Europe Aquafeed Market Forecasts and Analysis - By Lifecycle
9.2.4 Europe Aquafeed Market Forecasts and Analysis - By Aquatic Species
9.2.5 Europe Aquafeed Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Aquafeed Market
9.2.5.1.1 Germany Aquafeed Market by Lifecycle
9.2.5.1.2 Germany Aquafeed Market by Aquatic Species
9.2.5.2 France Aquafeed Market
9.2.5.2.1 France Aquafeed Market by Lifecycle
9.2.5.2.2 France Aquafeed Market by Aquatic Species
9.2.5.3 Italy Aquafeed Market
9.2.5.3.1 Italy Aquafeed Market by Lifecycle
9.2.5.3.2 Italy Aquafeed Market by Aquatic Species
9.2.5.4 United Kingdom Aquafeed Market
9.2.5.4.1 United Kingdom Aquafeed Market by Lifecycle
9.2.5.4.2 United Kingdom Aquafeed Market by Aquatic Species
9.2.5.5 Russia Aquafeed Market
9.2.5.5.1 Russia Aquafeed Market by Lifecycle
9.2.5.5.2 Russia Aquafeed Market by Aquatic Species
9.2.5.6 Rest of Europe Aquafeed Market
9.2.5.6.1 Rest of Europe Aquafeed Market by Lifecycle
9.2.5.6.2 Rest of Europe Aquafeed Market by Aquatic Species
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Aquafeed Market Overview
9.3.2 Asia-Pacific Aquafeed Market Forecasts and Analysis
9.3.3 Asia-Pacific Aquafeed Market Forecasts and Analysis - By Lifecycle
9.3.4 Asia-Pacific Aquafeed Market Forecasts and Analysis - By Aquatic Species
9.3.5 Asia-Pacific Aquafeed Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Aquafeed Market
9.3.5.1.1 Australia Aquafeed Market by Lifecycle
9.3.5.1.2 Australia Aquafeed Market by Aquatic Species
9.3.5.2 China Aquafeed Market
9.3.5.2.1 China Aquafeed Market by Lifecycle
9.3.5.2.2 China Aquafeed Market by Aquatic Species
9.3.5.3 India Aquafeed Market
9.3.5.3.1 India Aquafeed Market by Lifecycle
9.3.5.3.2 India Aquafeed Market by Aquatic Species
9.3.5.4 Japan Aquafeed Market
9.3.5.4.1 Japan Aquafeed Market by Lifecycle
9.3.5.4.2 Japan Aquafeed Market by Aquatic Species
9.3.5.5 South Korea Aquafeed Market
9.3.5.5.1 South Korea Aquafeed Market by Lifecycle
9.3.5.5.2 South Korea Aquafeed Market by Aquatic Species
9.3.5.6 Rest of Asia-Pacific Aquafeed Market
9.3.5.6.1 Rest of Asia-Pacific Aquafeed Market by Lifecycle
9.3.5.6.2 Rest of Asia-Pacific Aquafeed Market by Aquatic Species
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Aquafeed Market Overview
9.4.2 Middle East and Africa Aquafeed Market Forecasts and Analysis
9.4.3 Middle East and Africa Aquafeed Market Forecasts and Analysis - By Lifecycle
9.4.4 Middle East and Africa Aquafeed Market Forecasts and Analysis - By Aquatic Species
9.4.5 Middle East and Africa Aquafeed Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Aquafeed Market
9.4.5.1.1 South Africa Aquafeed Market by Lifecycle
9.4.5.1.2 South Africa Aquafeed Market by Aquatic Species
9.4.5.2 Saudi Arabia Aquafeed Market
9.4.5.2.1 Saudi Arabia Aquafeed Market by Lifecycle
9.4.5.2.2 Saudi Arabia Aquafeed Market by Aquatic Species
9.4.5.3 U.A.E Aquafeed Market
9.4.5.3.1 U.A.E Aquafeed Market by Lifecycle
9.4.5.3.2 U.A.E Aquafeed Market by Aquatic Species
9.4.5.4 Rest of Middle East and Africa Aquafeed Market
9.4.5.4.1 Rest of Middle East and Africa Aquafeed Market by Lifecycle
9.4.5.4.2 Rest of Middle East and Africa Aquafeed Market by Aquatic Species
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Aquafeed Market Overview
9.5.2 South and Central America Aquafeed Market Forecasts and Analysis
9.5.3 South and Central America Aquafeed Market Forecasts and Analysis - By Lifecycle
9.5.4 South and Central America Aquafeed Market Forecasts and Analysis - By Aquatic Species
9.5.5 South and Central America Aquafeed Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Aquafeed Market
9.5.5.1.1 Brazil Aquafeed Market by Lifecycle
9.5.5.1.2 Brazil Aquafeed Market by Aquatic Species
9.5.5.2 Argentina Aquafeed Market
9.5.5.2.1 Argentina Aquafeed Market by Lifecycle
9.5.5.2.2 Argentina Aquafeed Market by Aquatic Species
9.5.5.3 Rest of South and Central America Aquafeed Market
9.5.5.3.1 Rest of South and Central America Aquafeed Market by Lifecycle
9.5.5.3.2 Rest of South and Central America Aquafeed Market by Aquatic Species
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. AQUAFEED MARKET, KEY COMPANY PROFILES
11.1. AVANTI FEEDS LTD.
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. BASF
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. BIOMIN HOLDING GMBH
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. CERMAQ
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. COPPEN INTERNATIONAL BV
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. EVONIK INDUSTRIES
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. MARVESA
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. NOREL ANIMAL NUTRITION
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. WATERBASE LTD
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. ZEIGLER BROS. INC.
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies
1. Avanti Feeds Ltd.
2. BASF
3. Biomin Holding GmbH
4. Cermaq
5. Coppen International BV
6. Evonik Industries
7. Marvesa
8. Norel Animal Nutrition
9. Waterbase Ltd
10. Zeigler bros. Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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