Aquafeed Market - Global Industry Analysis

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, 2020 – 2028

Published Date: 23-May-2021 Category: Food & Beverage Report Format : PDF Pages: 110 Report Code: ZMR-696 Status : Published

The global Aquafeed market accounted for USD 126.8 Billion in 2020 and is expected to reach USD 240.4 Billion by 2028, growing at a CAGR of around 7.9% between 2021 and 2028.

Description

Aquafeed Market: Overview     

The global Aquafeed market accounted for USD 126.8 Billion in 2020 and is expected to reach USD 240.4 Billion by 2028, growing at a CAGR of around 7.9% between 2021 and 2028.

Aquafeed is compounded meal intended for consumption by aquatic animals, which is produced by mixing various raw materials and additives. These aquafeeds are prepared consistent with the specific requirements of the aquatic animals and the age of the animal. High-quality aquafeed is useful to fish, mollusks, crustaceans & other aquatic animals than farm-made feed due to its balanced and wish-specific composition.

Increasing demand for aqua products along with Growth indirect human consumption of seafood is expected to fuel the industry growth over the forecast period. The market is anticipated to be driven by ascending demand for animal by-products, like fish meals, shrimp meals, and squid meals, in feed applications, especially within the emerging economies of Asia Pacific, including India, China, and Vietnam. Moreover, growth within the developed economies is often attributed to gradual technological advancements in feed formulation. Such factors have bolstered the aquafeed demand on an outsized scale.

COVID-19 Impact Analysis  

The impacts of COVID-19 on the fisheries and Aquafeed food systems vary, and therefore the situation is rapidly evolving. The lockdowns implemented by nations have resulted in logistical difficulties in the seafood trade, particularly in transportation and border restrictions. The salmon industry, especially, suffered from increased air freight costs and the cancellation of flights. Some shortages of seed feeds and related aquaculture items (e.g. vaccines) have also been reported, owing to restrictions on transportation and travel of personnel, with particular impacts on the aquaculture industry.  As a result of the drop by demand, and resulting price drops, capture fishery production in some countries has been delivered to a halt or significantly reduced, which can positively influence wild fish stocks within the short term.

Aquafeed Market: Growth Factors

The Aquafeed market has been witnessing growth in terms of rushing urbanization and growing the income of people which has led to a rise in the consumption of protein-rich meats. Moreover, fish may be a rich source of vitamins and proteins, therefore it's primarily used for direct human consumption. Fish consumption has observed a rise on account of several factors, like increasing availability of a spread of fishes within the retail market and consumers’ preference for a spread of flavors. The aforementioned factors have resulted in a boost in the demand for fish and fish products, which, in turn, is anticipated to boost the industry.

Report Scope:  

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Source Segment Analysis Preview  

Soybean is among the non-fish sources of omega-3 fatty acids, proteins, and unsaturated fats. Soy protein is fed to farm-reared fish and shellfish to reinforce their overall growth and development. A number of the commonly used soybean products in aquafeed include heat-processed full-fat soybean, mechanically extracted soybean cake, solvent-extracted soybean flour, and dehulled solvent-extracted soybean flour. Since soybean flour is priced significantly lesser than fishmeal, the consumption of soybean flour is high.

End-User Segment Analysis Preview  

The market, by species, is segmented into fish, crustaceans, mollusks, et al. (turtles and sea urchins). Fish farming in ponds, lakes, rivers, and coastal waters is increasing to fill the gap between demand and provide. The rise in fish farming activities and aquaculture has led to the increased demand for fish feed. Among fish, carp and tilapia are high consumers of aquafeed. Also, carps are being extensively reared, due to their adaptability to changing climates, while Tilapia culturing has increased in recent years thanks to the growing supply of high-quality protein tilapia species at lower prices.

Regional Segment Analysis Preview  

The marketplace for aquafeed in Asia-Pacific registered a share of over 60% of the general consumption in 2016. This growth is especially attributed to increasing aquaculture production and growing seafood consumption during this region. Europe is anticipated to point out noticeable growth due to the presence of favorable regulations and rules. In 2015, Norway constitutes large chunk market share the entire European aquafeed market thanks to high demand for salmon fish feed. Latin America is another key important regional market and is predicted to witness substantial growth within the forecast period.

Aquafeed Market: Key Players & Competitive Landscape

Key players present in this market include Alltech Inc, Biomar, Ridley, Aller Aqua, Dibaq Aquaculture, Nutreco N.V., Addcon Group GmbH, Cargill Incorporated, Cermaq ASA and Biomin. 

The global Aquafeed Market is segmented as follows:

By Source

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

By End User

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

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of the Middle East & Africa

Table Of Content

  • Chapter No. 1 Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter No. 2 Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Source
        • 2.1.1.2. Market Attractiveness Analysis, By End-User
        • 2.1.1.3. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Aquafeed Market, 2016 – 2028 (USD Billion)
    • 2.4. Insights from Primary Respondents
  • Chapter No. 3 COVID 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • Chapter No. 4 Aquafeed Market – Source Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Source, 2020 & 2028
    • 4.2. Soybean
      • 4.2.1. Market Size and Forecast, By Region (USD Billion)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Fishmeal
      • 4.3.1. Market Size and Forecast, By Region (USD Billion)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.4. Fishoil
      • 4.4.1. Market Size and Forecast, By Region (USD Billion)
      • 4.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.5. Corn
      • 4.5.1. Market Size and Forecast, By Region (USD Billion)
      • 4.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.5.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.6. Additives
      • 4.6.1. Market Size and Forecast, By Region (USD Billion)
      • 4.6.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.6.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.7. Others
      • 4.7.1. Market Size and Forecast, By Region (USD Billion)
      • 4.7.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.7.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 5 Aquafeed Market – End user Segment Analysis
    • 5.1. Overview
      • 5.1.1. Market Revenue Share, By End-User, 2020 & 2028
    • 5.2. Carp
      • 5.2.1. Market Size and Forecast, By Region (USD Billion)
      • 5.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.3. Mulluscs
      • 5.3.1. Market Size and Forecast, By Region (USD Billion)
      • 5.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.4. Crustaceans
      • 5.4.1. Market Size and Forecast, By Region (USD Billion)
      • 5.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.5. Salmon
      • 5.5.1. Market Size and Forecast, By Region (USD Billion)
      • 5.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.5.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.6. Trout & Others
      • 5.6.1. Market Size and Forecast, By Region (USD Billion)
      • 5.6.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.6.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 5 Aquafeed Market – Region Segment Analysis
    • 6.1. Overview
      • 6.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 6.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Billion)
    • 6.2. North America
      • 6.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.2.2. North America Market Revenue, By Source, 2016 – 2028
      • 6.2.3. North America Market Revenue, By End-User, 2016 – 2028
      • 6.2.5. U.S.
        • 6.2.5.1. U.S. Market Revenue, By Source, 2016 – 2028
        • 6.2.5.2. U.S. Market Revenue, By End-User, 2016 – 2028
      • 6.2.6. Canada
        • 6.2.6.1. Canada Market Revenue, By Source, 2016 – 2028
        • 6.2.6.2. Canada Market Revenue, By End-User, 2016 – 2028
      • 6.2.7. Mexico
        • 6.2.7.1. Mexico Market Revenue, By Source, 2016 – 2028
        • 6.2.7.2. Mexico Market Revenue, By End-User, 2016 – 2028
    • 6.3. Europe
      • 6.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.3.2. Europe Market Revenue, By Source, 2016 – 2028
      • 6.3.3. Europe Market Revenue, By End-User, 2016 – 2028
      • 6.3.5. Germany
        • 6.3.5.1. Germany Market Revenue, By Source, 2016 – 2028
        • 6.3.5.2. Germany Market Revenue, By End-User, 2016 – 2028
      • 6.3.6. France
        • 6.3.6.1. France Market Revenue, By Source, 2016 – 2028
        • 6.3.6.2. France Market Revenue, By End-User, 2016 – 2028
      • 6.3.7. U.K.
        • 6.3.7.1. U.K. Market Revenue, By Source, 2016 – 2028
        • 6.3.7.2. U.K. Market Revenue, By End-User, 2016 – 2028
      • 6.3.8. Italy
        • 6.3.8.1. Italy Market Revenue, By Source, 2016 – 2028
        • 6.3.8.2. Italy Market Revenue, By End-User, 2016 – 2028
      • 6.3.9. Spain
        • 6.3.9.1. Spain Market Revenue, By Source, 2016 – 2028
        • 6.3.9.2. Spain Market Revenue, By End-User, 2016 – 2028
      • 6.3.10. Rest of Europe
        • 6.3.10.1. Rest of Europe Market Revenue, By Source, 2016 – 2028
        • 6.3.10.2. Rest of Europe Market Revenue, By End-User, 2016 – 2028
    • 6.4. Asia Pacific
      • 6.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.4.2. Asia Pacific Market Revenue, By Source, 2016 – 2028
      • 6.4.3. Asia Pacific Market Revenue, By End-User, 2016 – 2028
      • 6.4.5. China
        • 6.4.5.1. China Market Revenue, By Source, 2016 – 2028
        • 6.4.5.2. China Market Revenue, By End-User, 2016 – 2028
      • 6.4.6. Japan
        • 6.4.6.1. Japan Market Revenue, By Source, 2016 – 2028
        • 6.4.6.2. Japan Market Revenue, By End-User, 2016 – 2028
      • 6.4.7. India
        • 6.4.7.1. India Market Revenue, By Source, 2016 – 2028
        • 6.4.7.2. India Market Revenue, By End-User, 2016 – 2028
      • 6.4.8. South Korea
        • 6.4.8.1. South Korea Market Revenue, By Source, 2016 – 2028
        • 6.4.8.2. South Korea Market Revenue, By End-User, 2016 – 2028
      • 6.4.9. South-East Asia
        • 6.4.9.1. South-East Asia Market Revenue, By Source, 2016 – 2028
        • 6.4.9.2. South-East Asia Market Revenue, By End-User, 2016 – 2028
      • 6.4.10. Rest of Asia Pacific
        • 6.4.10.1. Rest of Asia Pacific Market Revenue, By Source, 2016 – 2028
        • 6.4.10.2. Rest of Asia Pacific Market Revenue, By End-User, 2016 – 2028
    • 6.5. Latin America
      • 6.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.5.2. Latin America Market Revenue, By Source, 2016 – 2028
      • 6.5.3. Latin America Market Revenue, By End-User, 2016 – 2028
      • 6.5.5. Brazil
        • 6.5.5.1. Brazil Market Revenue, By Source, 2016 – 2028
        • 6.5.5.2. Brazil Market Revenue, By End-User, 2016 – 2028
      • 6.5.6. Argentina
        • 6.5.6.1. Argentina Market Revenue, By Source, 2016 – 2028
        • 6.5.6.2. Argentina Market Revenue, By End-User, 2016 – 2028
      • 6.5.7. Rest of Latin America
        • 6.5.7.1. Rest of Latin America Market Revenue, By Source, 2016 – 2028
        • 6.5.7.2. Rest of Latin America Market Revenue, By End-User, 2016 – 2028
    • 6.6. The Middle-East and Africa
      • 6.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.6.2. The Middle-East and Africa Market Revenue, By Source, 2016 – 2028
      • 6.6.3. The Middle-East and Africa Market Revenue, By End-User, 2016 – 2028
      • 6.6.5. GCC Countries
        • 6.6.5.1. GCC Countries Market Revenue, By Source, 2016 – 2028
        • 6.6.5.2. GCC Countries Market Revenue, By End-User, 2016 – 2028
      • 6.6.6. South Africa
        • 6.6.6.1. South Africa Market Revenue, By Source, 2016 – 2028
        • 6.6.6.2. South Africa Market Revenue, By End-User, 2016 – 2028
      • 6.6.7. Rest of Middle-East Africa
        • 6.6.7.1. Rest of Middle-East Africa Market Revenue, By Source, 2016 – 2028
        • 6.6.7.2. Rest of Middle-East Africa Market Revenue, By End-User, 2016 – 2028
  • Chapter No. 7: Aquafeed Market – Industry Analysis
    • 7.1. Introduction
    • 7.2. Market Drivers
      • 7.2.1. Driving Factor 1 Analysis
      • 7.2.2. Driving Factor 2 Analysis
    • 7.3. Market Restraints
      • 7.3.1. Restraining Factor Analysis
    • 7.4. Market Opportunities
      • 7.4.1. Market Opportunity Analysis
    • 7.5. Porter’s Five Forces Analysis
    • 7.6. PEST Analysis
    • 7.7. Regulatory Landscape
    • 7.8. Technology Landscape
    • 7.9. Regional Market Trends
      • 7.9.1. North America
      • 7.9.2. Europe
      • 7.9.3. Asia Pacific
      • 7.9.4. Latin America
      • 7.9.5. The Middle-East and Africa
    • 7.10. Pricing Analysis
    • 7.11. Value Chain Analysis
    • 7.12. Downstream Buyers
    • 7.13. Distributors/Traders List
  • Chapter No. 8: Competitive Landscape
    • 8.1. Company Market Share Analysis – 2019
      • 8.1.1. Global Aquafeed Market: Company Market Share, 2019
      • 8.1.2. Global Aquafeed Market, Company Market Revenue, 2016 – 2019 (USD Billion)
      • 8.1.3. Global Aquafeed Market, Company Y-o-Y Growth, 2017 – 2019 (%)
      • 8.1.4. Global Aquafeed Market: Radar Determinant Chart, 2019
    • 8.2. Strategic Developments
      • 8.2.1. Acquisitions & Mergers
      • 8.2.2. New Product Launch
      • 8.2.3. Regional Expansion
    • 8.3. Company Strategic Developments – Heat Map Analysis
  • Chapter No. 9: Company Profiles
    • 9.1. Alltech Inc.
      • 9.1.1. Company Overview
      • 9.1.2. Key Executives
      • 9.1.3. Product Portfolio
      • 9.1.4. Financial Overview
      • 9.1.5. Operating Business Segments
      • 9.1.6. Business Performance
    • 9.2 Biomar
    • 9.3 Ridley
    • 9.4 Aller Aqua
    • 9.5 Dibaq Aquaculture
    • 9.6 Nutreco N.V.
    • 9.7 Cargill Incorporated
    • 9.8 Biomin
    • 9.9 Cermaq ASA
    • 9.10 Addcon Group GmbH
  • Chapter No. 10: Marketing Strategy Analysis
    • 10.1. Marketing Channel
    • 10.2. Direct Marketing
    • 10.3. Indirect Marketing
    • 10.4. Marketing Channel Development Trends
    • 10.5. Economic/Pulitical Environmental Change
  • Chapter No. 11: Research Methodology
    • 11.1. Research Methodology
    • 11.2. Phase I - Secondary Research
    • 11.3. Phase II - Data Modeling
      • 11.3.1. Company Share Analysis Model
      • 11.3.2. Revenue Based Modeling
    • 11.4. Phase III - Primary Research
    • 11.5. Research Limitations
      • 11.5.1. Assumptions

Table Of Figures

List of Figures 

FIG NO. 1. Market Attractiveness Analysis, By Source
FIG NO. 2. Market Attractiveness Analysis, By End-User
FIG NO. 3. Market Attractiveness Analysis, By Region
FIG NO. 4. Global Aquafeed Market Revenue, 2016 – 2028 (USD Billion)
FIG NO. 5. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 6. Market Revenue Share, By Source, 2020 & 2028 
FIG NO. 7. Global Aquafeed Market for Soybean, Revenue (USD Billion) 2016 – 2028
FIG NO. 8. Comparative Revenue Analysis of Aquafeed Market for Soybean, By Country, 2020 & 2028
FIG NO. 9. Global Aquafeed Market for Fishmeal, Revenue (USD Billion) 2016 – 2028
FIG NO. 10. Comparative Revenue Analysis of Aquafeed Market for Fishmeal, By Country, 2020 & 2028
FIG NO. 11. Global Aquafeed Market for Fishoil, Revenue (USD Billion) 2016 – 2028
FIG NO. 12. Comparative Revenue Analysis of Aquafeed Market for Fishoil, By Country, 2020 & 2028
FIG NO. 13. Global Aquafeed Market for Corn, Revenue (USD Billion) 2016 – 2028
FIG NO. 14. Comparative Revenue Analysis of Aquafeed Market for Corn, By Country, 2020 & 2028
FIG NO. 15. Global Aquafeed Market for Additives Revenue (USD Billion) 2016 – 2028
FIG NO. 16. Comparative Revenue Analysis of Aquafeed Market for Additives, By Country, 2020 & 2028
FIG NO. 17. Global Aquafeed Market for Others, Revenue (USD Billion) 2016 – 2028
FIG NO. 18. Comparative Revenue Analysis of Aquafeed Market for Others, By Country, 2020 & 2028
FIG NO. 19. Market Revenue Share, By End-User, 2020 & 2028
FIG NO. 20. Global Aquafeed Market for Carp, Revenue (USD Billion) 2016 – 2028
FIG NO. 21. Comparative Revenue Analysis of Aquafeed Market for Carp, By Country, 2020 & 2028 
FIG NO. 22. Global Aquafeed Market for Molluscs, Revenue (USD Billion) 2016 – 2028
FIG NO. 23. Comparative Revenue Analysis of Aquafeed Market for Molluscs, By Country, 2020 & 2028
FIG NO. 24. Global Aquafeed Market for Crustaceans, Revenue (USD Billion) 2016 – 2028 
FIG NO. 25. Comparative Revenue Analysis of Aquafeed Market for Crustaceans, By Country, 2020 & 2028
FIG NO. 26. Global Aquafeed Market for Salmon, Revenue (USD Billion) 2016 – 2028
FIG NO. 27. Comparative Revenue Analysis of Aquafeed Market for Salmon, By Country, 2020 & 2028
FIG NO. 28. Global Aquafeed Market for Trout & Others, Revenue (USD Billion) 2016 – 2028
FIG NO. 29. Comparative Revenue Analysis of Aquafeed Market for Trout & Others, By Country, 2020 & 2028
FIG NO. 30. Global Aquafeed Market Revenue Share, By Region, 2020 & 2028
FIG NO. 31. North America Aquafeed Market Revenue, 2016 - 2028 (USD Billion)
FIG NO. 32. Porter’s Five Forces Analysis for Global Aquafeed Market
FIG NO. 33. PEST Analysis for Global Aquafeed Market
FIG NO. 34. Pricing Analysis for Global Aquafeed Market
FIG NO. 35. Value Chain Analysis for Global Aquafeed Market
FIG NO. 36. Company Share Analysis, 2019
FIG NO. 37. Radar Determinant Chart, 2019
FIG NO. 38. Company Strategic Developments – Heat Map Analysis
FIG NO. 39. Cargill Company Business Segment Revenue Share, 2020 (%)
FIG NO. 40. Cargill Company Geographical Segment Revenue Share, 2020 (%)
FIG NO. 41. Market Channels
FIG NO. 42. Marketing Channel Development Trend
FIG NO. 43. Growth in World Gross Product, 2008-2018
FIG NO. 44. Research Methodology – Detailed View
FIG NO. 45. Research Methodology
 


Table Of Tables

List of Tables 

TABLE NO. 1. Global Aquafeed Market: Snapshot
TABLE NO. 2. Quarterly Aquafeed Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Aquafeed Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion) 
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion) 
TABLE NO. 6. Global Aquafeed Market for Soybean, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 7. Global Aquafeed Market for Fishmeal, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 8. Global Aquafeed Market for Fishoil, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 9. Global Aquafeed Market for Corn, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 10. Global Aquafeed Market for Additives, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 11. Global Aquafeed Market for Others, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 12. Global Aquafeed Market for Carp, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 13 Global Aquafeed Market for Molluscs, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 14. Global Aquafeed Market for Crustaceans, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 15. Global Aquafeed Market for Salmon, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 16. Global Aquafeed Market for  Trout & Others, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 17 Global Aquafeed Market Revenue, By Region, 2016 – 2028 (USD Billion)
TABLE NO. 18. North America Aquafeed Market Revenue, By Country, 2016 – 2028 (USD Billion)
TABLE NO. 19. North America Aquafeed Market Revenue, By Source, 2016 – 2028 (USD Billion)
TABLE NO. 20. North America Aquafeed Market Revenue, By End-User, 2016 – 2028 (USD Billion)
TABLE NO. 21. U.S. Aquafeed Market Revenue, By Source, 2016 – 2028 (USD Billion)
TABLE NO. 22. U.S. Aquafeed Market Revenue, By End-User, 2016 – 2028 (USD Billion)
TABLE NO. 23. Canada Aquafeed Market Revenue, By Source, 2016 – 2028 (USD Billion)
TABLE NO. 24. Canada Aquafeed Market Revenue, By End-User, 2016 – 2028 (USD Billion)
TABLE NO. 25. Mexico Aquafeed Market Revenue, By Source, 2016 – 2028 (USD Billion)
TABLE NO. 26. Mexico Aquafeed Market Revenue, By End-User, 2016 – 2028 (USD Billion)
TABLE NO. 27. Drivers for the Aquafeed Market: Impact Analysis
TABLE NO. 28. Restraints for the Aquafeed Market: Impact Analysis
TABLE NO. 29. Major Buyers of Aquafeed
TABLE NO. 30. Distributors/Traders List of Aquafeed
TABLE NO. 31. Global Aquafeed Market, Company Market Revenue, 2016 – 2019 (USD Billion)
TABLE NO. 32: Global Aquafeed Market, Company Y-o-Y Growth, 2017 – 2019 (USD Billion)   


 

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Aquafeed market. Zion Research has collected and analyzed key data belong to the global Aquafeed market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Aquafeed across the world has been calculated through primary and secondary research.

Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Aquafeed industry. Primary research makes up the major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further, develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases and market reports

News articles, press releases and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Aquafeed market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split by segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

Free Analysis

Aquaculture is the fastest growing industry producing animal protein. Aquafeed is an important segment in aquaculture. Providing good quality aquafeed is of prime importance for aquaculture. Aquafeed is a mixture of various kinds of additives and raw materials. This preparation is prepared to suit specific requirement of different kind of aquatic animals and age of the animal.

The global aquafeed market is expected to witness substantial growth within the forecast period. The market is mainly driven by rising demand for sea food coupled with consumer awareness regarding the quality of seafood products. Moreover, increasing per capita income in developing countries is expected to propel the market growth in the near future. Aquafeed ingredients including soybean and fishmeal are among the widely used products in Asia-Pacific due to the change in aquafeed consumption and production pattern witnessed in this region. However, increasing the cost of raw material is expected to hinder the market growth over the forecast period. Nonetheless, high demand for conventional and functional aquafeed emerging economics especially in China and Rest of Asia is expected to open up new growth avenues in the near future.

Global-Aquafeed-Market

Soybean, fishmeal, fish oil, corn, additives, & others are some of the key sources in the market. Soybean contains best amino acid profiles of all vegetable oil meals. Thus, soybean segment is expected to show strong growth in the coming years. An additive is another leading segment and it accounts for the significant share of total revenue generated in 2016.

Based on end user, the market can be classified into mollusks, carp, crustaceans, carp, tilapia, catfish, salmon, and others. Among all segments, crap was a dominant segment and is expected to witness the fastest growth in the near future. This growth is mainly due to change food habits, changing lifestyles and increasing disposable income. Mollusks were another leading segment in 2016 and are likely to experience significant growth within the forecast period.

The aquafeed market was dominated by Asia Pacific and it accounted for over 60% of the overall consumption in 2016, owing to increasing aquaculture production and growing seafood consumption. Asia Pacific was followed by Europe in terms of volume in 2016. Europe was another leading segment on account of the presence of favorable regulations and rules. In 2015, Norway held the largest market share the total European aquafeed market on account of increasing demand for salmon fish feed. Latin America is another key important regional market and is expected to witness substantial growth within the forecast period.

The global aquafeed market is fragmented in nature with a large number of medium and small scale aquafeed manufacturers across the globe. Key players present in this market include Alltech Inc, Biomar, Ridley, Aller Aqua, Dibaq Aquaculture, Nutreco N.V., Addcon Group GmbH, Cargill Incorporated, Cermaq ASA and Biomin. Some of the major players used acquisition and joint venture and expansion into emerging economies as key strategies for market growth. For instance, in 2015, Cargill signed joint venture agreement with Naturisa SA to develop a shrimp feed facility in Ecuador.

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FrequentlyAsked Questions

The global Aquafeed Market was valued at USD 126.8 billion in 2020.

The global Aquafeed Market is expected to reach USD 240.4 billion by 2028, growing at a CAGR of 7.9% between 2021 to 2028.

Increasing urbanization and increasing the income of individuals has led to an increase in the consumption of protein-rich meats, the industry is expected to have a positive impact on the demand.

Asia Pacific is the leading market for Aquafeed and is expected to witness rapid growth due to cheap labor, appropriate climatic conditions, and the availability of natural resources in this region.

Key players present in this market include Alltech Inc, Biomar, Ridley, Aller Aqua, Dibaq Aquaculture, Nutreco N.V., Addcon Group GmbH, Cargill Incorporated, Cermaq ASA and Biomin. 

 

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