Europe Aquafeed Market was worth $29.25 billion in 2021 and estimated to be growing at a CAGR of 11.70%, to reach $50.86 billion by 2026.
Aquafeed is a mixture of raw materials, additives, and other supplements, sourced from either natural or synthetic sources and is 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. 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.
Europe Aquafeed Market Drivers:
The growth of the Europe Aquafeed market is majorly driven by factors such as growing consumer awareness regarding the protein content in the fish food and limited availability of marine feed resources. With the latest technologies that focus on improving the quality of the feed, there is a constantly increasing demand for them. However, complex regulatory bodies in the European Union and increasing cost of operations are the main factors hindering the growth of this regional market.
Europe Aquafeed Market - By End Use:
Carp fish type has been observed to have the highest market share in fish feed market. This is due to their abundant availability and popularity as common carp fish types are tolerant to most water conditions.
Europe Aquafeed Market - By Additives:
Amino acids are an essential component of aquafeed with a market share of almost 21% in the total of aquafeed market in 2018.
The Market is Geographically divided into:
It has about a market share of 24% and is just trailing behind the Asia-Pacific region. It is one of the top consumers of aquafeed and aquafeed additives and has strengthened exponentially in the last few years and a comparable trend is anticipated to continue in the next ten years.
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