The Middle East and Africa aquafeed market size is expected to be valued at USD 11.46 billion in 2024 and reach USD 15.86 billion by 2029, growing at a CAGR of 6.72% from 2024 to 2029.
Aquafeed is a mixture of raw materials, additives, and other supplements, sourced from either natural or synthetic sources and is fed to the aquaculture. Aquafeed additives include amino acids, vitamins, minerals, enzymes, probiotics, antibiotics, flavors, and colorants are the most common additives blended to form fish feed. Fish production in the world is mainly from both Aquaculture and Capture. The end consumers of Aquafeed are fish, mollusks, crustaceans, etc. Tilapia is the most farmed fish, raised in 135 countries, whereas Shrimp is the largest aquaculture commodity.
The growth of the Middle East and Africa Aquafeed market is majorly driven by factors such as the growth in fish consumption, increase in mass production of fish, and limited availability of marine feed resources. Strict regulatory structures, volatile economies, and the increasing cost of operations are the major hindrances to the market in this region. An increase in the cost of raw materials is also a key challenge for companies in the market.
This research report on the Middle East and Africa aquafeed market is segmented and sub-segmented into the following categories:
Middle East and Africa Aquafeed Market - By End Use:
Middle East and Africa Aquafeed Market - By Additives:
Middle East and Africa Aquafeed Market – By Country:
The market has been geographically segmented into the Middle East and Africa and is projected to be one of the fastest-growing Aquafeed markets in the world. In terms of revenue, South Africa leads the market in this region. The market in this region has the lowest share of the global market due to the farming community's unawareness about the uses and benefits of fish feed additives.
KEY MARKET PLAYERS:
Cargill, Inc., Nutreco N.V, Alltech Inc., AllerAqua A/S, Beneo GmbH, Biomar A/S, Charoen Pokphand Foods Public Company Limited, Coppens International B.V., some of the market players dominating the Middle East and Africa Aquafeed market.
FAQ's
The aquafeed market in the Middle East and Africa region is valued at USD 11.46 billion in 2024.
Saudi Arabia, Egypt, and the United Arab Emirates are among the key contributors to the aquafeed market in the Middle East due to their growing aquaculture industries.
In Africa, the increasing demand for seafood, rising disposable incomes, and government initiatives to promote aquaculture are driving the growth of the aquafeed market.
Companies such as Skretting, Aller Aqua, and Biomar are among the major players in the Middle East aquafeed market, providing a wide range of feed solutions for different species.
Challenges such as competition from imports, fluctuating raw material prices, and limited access to finance for small-scale aquaculture farmers are hindering the growth of the aquafeed market in South Africa.
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