Asia-Pacific Aquafeed Market was worth $33.14 billion in 2021 and estimated to be growing at a CAGR of 12.50%, to reach $59.71 billion by 2026.
Aquafeeds are compounded meals arranged for aquatic animals by combining several raw materials and additives. These blends are prepared according to the specific requirements of the species and age of the animal.Aquafeed has become vital to the aquaculture industry due to its nutritional, immune resistant, and growth encouraging properties. High-quality aquafeed is exponentially more valuable to fish, mollusks, crustaceans & other aquatic animals than farm-made feed due to their well-adjusted and need specific composition.
The growth of the Asia-Pacific Aquafeed market is mainly due to the increase in fish consumption, growing population, increase in mass production of fish, and limited availability of marine feed resources. Volatile economies and increasing costs of raw materials are the key factors obstructing the growth of the market in this region.
Asia-Pacific Aquafeed Market - By End Use:
Asia-Pacific Aquafeed Market - By Additives:
The Asia-Pacific region is geographically segmented into China, India, Japan, South Korea, and Australia. This region offers substantial opportunities for the Aquafeed market, with China and India being the most populous countries in this region contributing to the increasing demand. China dominates the market with a share of more than 60%. Other key markets in this region are Vietnam, Thailand, Japan, and Indonesia.
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