Aqua Feed – Origins and its background
Aqua feed can be defined as any feed that range from single component feeds available on farm such as grass or rice bran to farm made formulated feeds and commercial feeds provided to aquatic organisms as part of aquaculture. These feeds may also consist of simple farm made moist or dry aqua feeds or formulated commercial aqua feeds. Ever since, the evolution of human dependency on aqua culture fish feeds were based on fish oil and fish meals to feed not only the carnivorous and omnivorous fish but also herbivorous fish especially during the early stages when these living species needed high protein levels.
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Aqua Feed Market – An in-depth analysis
In recent decades, the field of aquaculture has witnessed a significant growth due to the surging demand for aquatic foodstuffs that had resulted in the increased demand for aqua feed. The global aqua feed market worth was valued to the tune of $98.66 billion in 2016 with the estimated CAGR of 10.6% that is expected to reach $163.27 billion by the end of 2021. The global aqua feed market size is fueled by the escalation consumption of fish and growth of the aquaculture market.
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Aqua feeds have become an important part of commercial aquaculture in providing balanced nutrition needed for the fish. The modern aqua feed types are produced using ingredients mixed and grinded in the form of fishmeal, vegetable proteins and binding agents such as wheat, which are driving the aqua feed market size. Several of the leading aqua feed manufacturers and seafood producers are now showing interest in the fish free aqua feeds that signals a turning point towards a viable and cost effective alternative to fishmeal and fish oil.
Majority of the fish farmed globally are of carnivorous type such as Atlantic salmon, trout, sea bass and turbot. The development of modern aquaculture around 1970s has led to the fishmeal and fish oil being used to be the key components of the feeds for these species. Some of the fish feed in the form of feed pellets consists of ingredients such vegetable protein, cereal grains, vitamin and minerals. Specialized feeds are produced for fish hatcheries
Aqua feed Market Outlook – What is in store for aqua feed market
Aquaculture has emerged as the fastest growing segment of aqua feed manufacturing industry with fish consumption now exceeding beef consumption per capita and farmed fish now exceeding the wild caught especially in the developed economies of the world. During 2015, China led the global aquaculture feed production with 17.3 million tons at an average cost per higher finisher diet of around $850 with Vietnam and Norway followed by 2.8 and 1.78 million tons respectively. Shrimp accounted for 21% of the aqua feed production globally with 82% share coming Asia. Salmon feed production accounted for 11% of the total aqua feed production with Europe emerging as the number one player in this species sector.
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The global aqua feed market is driven by the increasing consumption of fish meat due to boom in global population and limitations of wild catch. The volume growth rate of aqua culture has been sustained at about 8% over the last decade and has to undergo a tremendous development to fulfill the huge gap between the supply and demand of for the premier protein sources. According to the aqua feed market analysis – the global aqua feed market is segmented or divided based on End Consumption, and Additives. Each of which have been further grouped under the following categories as shown in this tabulated format herein below
|Fish – Carp, Salmon, Tilapia, Catfish and Others||Vitamins|
|Mollusks – Shrimp, Crab, and Others||Minerals|
|Crustaceans – Oyster, Mussel and Others||Antioxidants, Amino Acids, Enzymes, Acidifiers, Binders, Amino Acids|
Figure: 1 – Market Segmentation of Global Aqua Feed Market
Carp fish type has the highest market share in the fish feed market due to its abundant supply and popularity due to their tolerance levels in most water conditions. In the additives segment – Amino Acids occupies the major share (19% in the total of aqua feed enzymes market) due to their extensive application in aqua feed additives in addition, amino acids are the main components of protein diet.
Geographically, North America accounts for the largest share in the global aqua feed market accounting for around 32% of the global market with Asia-Pacific region emerging as the largest aqua culture industry comprising of more than one-third of the global market.