The Europe aquatic feed market was valued at USD 18.23 billion in 2023 and is anticipated to reach USD 19.96 billion in 2024 from USD 41.26 billion by 2032, growing at a CAGR of 9.5% from 2024 to 2032.
A major important part of running successful commercial aquaculture is the selection of the right manufactured feeds that provide the balanced nutrition required by fish. The feed may be either granular or in the form of pellets and are essential in providing the fish with a balanced diet within their enclosures where their natural food sources may be absent.
Wheat is being used as a major ingredient in all aquatic feed due to its binding property for holding the pellets together. As for the carnivorous species of fish such as salmon, trout, and turbot, fishmeal and fish oil are the major components for making the feed. Other key ingredients in fish feed include vegetable proteins, vitamins, minerals, and cereal grains. Trash fish is also considered as fish feed, wherein fish that is caught is fed directly to larger species that grow in aquatic pens.
The major factors affecting the Aquatic Feed market include the rising populations, rise in income leading to increased demand for seafood, rapid urbanization, and a strong expansion of the seafood production industry aided by technological advancements making for better distribution and storage. The market is also bolstered by the rise in demand for natural health supplements, of which omega-3 fatty acids derived from certain species of fish are a major component. The soaring prices of materials needed for aquatic feed production are one of the restraints of the market, along with the fact that the industry is profitable only with large-scale production.
Based on geography, the European market is divided into Italy, France, the UK, Germany, and Spain. The European region has the third-highest market share globally, only behind the likes of Europe and North America, albeit with a low CAGR rate. The low growth rate of the region can be attributed to the fact that most countries in the region are at their pinnacle of development, and the room to grow is quickly decreasing.
The aquatic feed market is highly competitive, with a large number of players. Key market players dominating the market with their products are Cargill Inc., BioMar group, Waterbase Ltd, BASF SE, Alltech Inc., Coppen International, Evonik Industries, Archer Daniels Midland Company, Ridley Corporation, Nutreco NV, Avanti Feeds Ltd, Ewos.
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