Commercial Aquafeed Market was worth USD 120.9 billion in 2021 and estimated to be growing at a CAGR of 8.58%, to reach USD 190.0 billion by 2026. Manufactured feeds are a significant part of the modern aquaculture industry. They provide the balanced nutrition needed by farm fish. The feeds are available in the form of granules or pellets, and provide the nutrition in a stable and concentrated form, enabling the fish to feed efficiently and grow up to their full potential.
Many of the fish brought up in farms around the world today are carnivorous, such as the Atlantic salmon, trout, sea bass, and turbot. In the early development of fish feeding which has hence evolved into modern aquaculture, fishmeal and fish oil were key components of the feeds for these species. They are combined with other ingredients such as vegetable proteins, cereal grains, vitamins, and minerals and made into feed pellets. Wheat, for example, is widely used as it helps to bind the ingredients in the pellets.
Market Drivers:
The growth of the caseinate market is mainly driven by factors such as population growth, rising disposable income, and rapid urbanization, and is facilitated by the strong expansion of fish production and more efficient distribution channels. As for the restraints of the market, large-scale storage of the same for farms is still a problem and the high costs are also turn-offs for the market. The industry has to come up with innovative solutions for these problems in order for the market to grow freely.
REPORT METRIC |
DETAILS |
Market Size Available |
2021 – 2026 |
Base Year |
2020 |
Forecast Period |
2022 - 2027 |
CAGR |
8.58% |
Segments Covered |
By End User, By Ingredients |
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 |
Archer Daniels Midland Company Ridley Corporation Limited Cargill Nutreco N.V, and Avanti Feeds Ltd, Purina Animal Nutrition LLC, Nutriad, Alltech, Biostadt India Limited, Aller Aqua A/S, Biomar, BIOMIN Holding GmbH, Norel Animal Nutrition, Dibaq A.S, De Heus Animal Nutrition. |
Fish
The Market is Geographically divided into:
The Commercial Aquafeed Market is dominated by North America in 2016 with the region accounting for 36% of the overall market share. North America was followed next in line by Europe and Asia-Pacific. Asia-Pacific is expected to grow rapidly in the coming years as is evident from the high CAGR value for the region. Another promising region for the market is Latin America, which is expected to show high growth rates in the coming years.
Key Players:
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