We’ve all had, at least once, eaten fish and found it to ‘fishy’. There is no shying away from that. That ‘fishy’ fish smell or taste is actually a bad thing. According to the fundamentals of cooking, fish is never supposed taste or smell ‘fishy’. But have you ever wondered why does this happen? Well, if your cooking skills are on point, you can go ahead and blame the Aquafeed.
Aquafeed is the mixture of raw materials, additives and other supplements, sourced from either natural or synthetic sources and are fed to the aquaculture. It might include vitamins, minerals, probiotics, amino acids and antibiotics. Aqua Farmers often add flavors and colours to the fish to give them the extra punch. Aquafeed is mostly used on the fish which are later going to be used for human consumption. But small portion is also used as fish feed. Various types of fish are farmed like Tilapia, Catfish, Carp, and Salmon.
Due to a rapidly increasing population and also the growing awareness about the nutritive values of fish, have cause an unexpected hike in the number of people consuming fish. Even stanch vegetarians have fallen for the goodness of fish. All these factors have subsequently increased the demand for fish and sea food, indirectly increasing the demand for Aquafeed. But dwindling natural resources of fish have pushed us to resort to Aquacultures and Aquafarming. Today most of the fish is produced by Aquacultures and Aqua Farms while only a small part is contributed by Capture Fisheries. Tilapia is the most widely farmed fish in the world whereas Shrimp is the largest aquaculture commodity.
The Global Fish and Shrimp Market was worth $98.66 billion in 2016 and estimated to be growing at a CAGR of 10.60%, to reach $163.27 billion by 2021. But like any other market, even the Aquafeed Market has its own set of limitations. Increased environment regulations on the wild, marine and inland fisheries by Governments and other Environment Protection organizations have made it a difficult task to procure the raw materials like fishmeal, fish oil and others that are important in the process of Aquafeed making. Regulations on animal feed or packaged sea food by Animal Feed Regulator or Food and Drug Administration Agencies to not used specific ingredients in the Aquafeed has made the process complex and expensive as well.
On the basis of End Use, the global Aquafeed market is segmented into Fish, Mollusks, and Crustaceans. Fish is further divided into Carp, Salmon, Tilapia, Catfish, and others. Mollusks can be further categorized into Shrimp, Crab, and others. Crustaceans is further sub segmented into Oyster, Mussel, and others. Carp fish has been observed to have the highest market share in fish feed market due to their abundant availability and popularity as these fish are tolerant to most water conditions and temperatures. On the basis of Additives, the global Aquafeed market is segmented into Vitamins, Minerals, Antioxidants, Amino Acids, Enzymes, Acidifiers, Binders while amino acids are an essential component of Aquafeed with a market share of almost 21% in the total of Aquafeed market in 2016.
North America dominates the Global Aquafeed market, accounting for around 32% of the global market. Asia-Pacific aquaculture industry is the expected to be the largest in the world. Major players in the Global Aquafeed Market are Cargill, Inc., Nutreco N.V., Alltech Inc., AllerAqua A/S, Beneo GmbH, Biomar A/S, Charoen Pokphand Foods Public Company Limited, and Coppens International B.V.
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