Global aquafeed market expected to reach USD 155.50 billion by 2022, growing at a CAGR of 12.5% between 2017 and 2022.
The report covers forecast and analysis for the aquafeed market on a global and regional level. The study provides historic data from 2014 to 2016 along with a forecast from 2017 to 2022 based on both volume (Million tons) and revenue (USD billion). The study includes drivers and restraints of the aquafeed market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the aquafeed market on a global level.
In order to give the users of this report a comprehensive view on the aquafeed market, we have included a detailed competitive scenario and product portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter’s five forces model for the aquafeed market has also been included. The study encompasses a market attractiveness analysis, wherein source and end-user segments are benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view on the aquafeed market by segmenting the market-based, end-user and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2016 to 2022. Based on the source, aquafeed market can be segmented into soybean, fishmeal, fish oil, corn, additives, & others. The aquafeed market is segmented on the basis of different end-use such as mollusks, carp, crustaceans, carp, tilapia, catfish, salmon, and other aquafeed. The regional segmentation includes the current and forecast demand for North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa with its further bifurcation into major countries including U.S., Germany, France, UK, China, Japan, India, and Brazil.
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.
This report segments the global aquafeed market as follows:
Global Aquafeed Market: Source Segment Analysis
Global Aquafeed Market: End-use Segment Analysis
Global Aquafeed Market: Regional Analysis
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:
Participants who typically participate in such a process include, but are not limited to:
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:
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:
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.
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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