Aquafeed Market is Anticipated To Achieve Around USD 155.50 Billion In 2022

The worldwide aquafeed market is sectioned in nature with a huge number of small- and medium-scale aquafeed manufacturers around the world. the major players in this aquafeed market consist of Biomar, Alltech Inc, Aller Aqua, Ridley, Nutreco N.V., Dibaq Aquaculture, Cargill Incorporated, Addcon Group GmbH, Biomin, and Cermaq ASA.

As per the report, the worldwide Aquafeed market was esteemed at around USD 70.00 Billion in 2016 and anticipated to achieve about USD 155.50 Billion by 2022, developing at a CAGR of approximately 12.5% between 2017 and 2022.

Aquafeed is a blended meal meant for eating by aquatic animals and is made by combining several raw substances and additives. Few of the key players used joint venture & acquisition and spreading out into budding economies as main approaches for the growth of the aquafeed market. For instance, Cargill, in 2015, inked a joint venture pact with Naturisa SA to make a shrimp feed unit in Ecuador.

Browse the full "Aquafeed Market by Source (Soybean, Fishmeal, Fish Oil, Corn, Additives, & Others) by End-user (Mollusks, Carp, Crustaceans, Carp, Tilapia, Catfish, Salmon, and Others): Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2016 - 2022" report at https://www.zionmarketresearch.com/report/aquafeed-market

Rising stipulation for seafood to drive the aquafeed market growth

Rising stipulation for seafood together with consumer alertness about the seafood products’ quality is anticipated to fuel the growth of the aquafeed market in the coming period. Furthermore, mounting per capita income, particularly in developing nations is projected to drive the aquafeed market growth.

Nevertheless, increasing price of raw material is likely to pose a peril to the growth of the aquafeed market. However, high demand for functional and conventional aquafeed from budding economies particularly in Rest of Asia and China is projected to provide new avenues for the growth of the aquafeed market in the coming period.

Soybean segment of aquafeed market to witness momentous growth in the coming period

Based on ingredients, the aquafeed market can be divided into soybean, fish oil, additives, corn, fish meal, & others. In 2016, soybean was the ruling segment and it marked for a considerable share of the entire demand. Additives segment is also a significant segment of this market and is projected to develop at a decent rate in the coming period.

The aquafeed market can be diversified based on end-use into carp, mollusks, tilapia, crustaceans, salmon, catfish, and others. In 2016, Carp was the dominant segment and it accounted for about 22% share of the entire market as a result of their compatibility in severe environmental circumstances.

Rising aquaculture production to boost aquafeed market growth in Asia Pacific

The aquafeed market in Asia-Pacific logged a stake of more than 60% in 2016 of the overall consumption. This growth is mostly attributed to the rising aquaculture production and increasing consumption of seafood in this region. Furthermore, Europe is projected to display noticeable growth on account of the existence of favorable rules and regulations.

This report segments the global aquafeed market as follows:

By Source

• Soybean
• Fishmeal
• Fish oil
• Corn
• Additives
• Others

By End-use

• Mollusks
• Carp
• Crustaceans
• Carp
• Tilapia
• Catfish
• Salmon
• Others

By Region

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa

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