The Aquafeed Market Size was worth $133.5 Billion in 2021 and estimated to be growing at a CAGR of 10.71%, to reach $221.9 Billion by 2026.
Aquafeed is a mixture of raw materials, additives, and other supplements, sourced from either natural or synthetic sources and are fed to the aquaculture. Aquafeed is a mixture of raw materials, additives, and other supplements, sourced from either natural or synthetic sources and are 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. Fish includes species like Tilapia, Catfish, Carp, and Salmon, etc. The dwindling natural sources and other reasons have reduced the dependence on Captured Fisheries. A large part of fish production is used for human consumption directly and a small portion is used for feed purposes. 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.
Aquafeed Market Drivers:
The growth of the Global Aquafeed Market is majorly driven by factors such as the growth in global fish consumption, increase in mass production of fish, growing consumer awareness regarding the protein content in the fish food, and limited availability of marine feed resources. Globally increasing population is also supporting the growth of the fish market, ultimately increasing the demand for Aquafeed. However, environmental regulations on wild, marine, and inland fisheries have made it difficult to procure important raw materials like fish meal, fish oil for feeds. The regulatory structure of the animal feeds industry which restricts the use of certain materials such as antibiotics, and increasing costs of raw materials are the main factors hindering the growth of the market.
REPORT COVERAGE:
REPORT METRIC |
DETAILS |
Market Size Available |
2021 – 2026 |
Base Year |
2020 |
Forecast Period |
2022 - 2027 |
CAGR |
10.71% |
Segments Covered |
By End-Use, By Crustaceans, By Additives |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
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 |
The Aquafeed Market is segmented and sub-segmented into the following categories:
By End-Use:
By Crustaceans:
By Additives:
Crustaceans are further sub-segmented into oysters, Mussel, and others. Carp fish type has been observed to have the highest market share in the Aquafeed market. This is due to their abundant availability and popularity as common carp fish types are tolerant to most water conditions. Amino acids are an essential component of aquafeed with a market share of almost 21% in the total of the aquafeed market in 2018.
The market has also been geographically segmented into:
North America accounted for the largest share in the Global Aquafeed Market, accounting for around 32% of the global market. Asia-Pacific aquaculture industry is the largest in the world comprising more than one-third of the global market.
Key players:
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