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Middle East And Africa Aquafeed Market Size, Share, Trends, COVID-19 Impact And Growth Forecasts Report – Segmented By End Use, Additives, And By Country (KSA, UAE, Israel, South Africa, And Ethiopia, Kenya, Egypt, Sudan, Rest of GCC Countries, and Rest of MEA) - Industry Analysis From 2024 to 2029

Published: March, 2023
ID: 614
Pages: 143
Formats: report pdf report excel report power bi report ppt

Middle East and Africa Aquafeed Market Size (2024 to 2029)

The Middle East and Africa aquafeed market size is expected to be valued at USD 11.46 billion in 2024 and reach USD 15.86 billion by 2029, growing at a CAGR of 6.72% from 2024 to 2029.

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.

The growth of the Middle East and Africa Aquafeed market is majorly driven by factors such as the growth in fish consumption, increase in mass production of fish, and limited availability of marine feed resources. Strict regulatory structures, volatile economies, and the increasing cost of operations are the major hindrances to the market in this region. An increase in the cost of raw materials is also a key challenge for companies in the market.

This research report on the Middle East and Africa aquafeed market is segmented and sub-segmented into the following categories:

Middle East and Africa Aquafeed Market - By End Use:

  • Fish
    • Carp
    • Salmon
    • Tilapia
    • Catfish
    • others
  • Mollusks
    • Shrimp
    • Crab
    • others
  • Crustaceans
    • Oyster
    • Mussel
    • others

Middle East and Africa Aquafeed Market - By Additives:

  • Vitamins
  • Minerals
  • Antioxidants
  • Amino Acids
  • Enzymes
  • Acidifiers
  • Binders

Middle East and Africa Aquafeed Market – By Country:

  • KSA
  • UAE
  • Israel
  • rest of GCC countries
  • South Africa
  • Ethiopia
  • Kenya
  • Egypt
  • Sudan
  • rest of MEA

The market has been geographically segmented into the Middle East and Africa and is projected to be one of the fastest-growing Aquafeed markets in the world. In terms of revenue, South Africa leads the market in this region. The market in this region has the lowest share of the global market due to the farming community's unawareness about the uses and benefits of fish feed additives.

KEY MARKET PLAYERS:

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., some of the market players dominating the Middle East and Africa Aquafeed market.

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FAQ's

What is the current size of the aquafeed market in the Middle East and Africa region?

The aquafeed market in the Middle East and Africa region is valued at USD 11.46 billion in 2024.

Which countries are the key contributors to the aquafeed market in the Middle East?

Saudi Arabia, Egypt, and the United Arab Emirates are among the key contributors to the aquafeed market in the Middle East due to their growing aquaculture industries.

What are the primary trends driving growth in the aquafeed market in Africa?

In Africa, the increasing demand for seafood, rising disposable incomes, and government initiatives to promote aquaculture are driving the growth of the aquafeed market.

Which companies are the major players in the aquafeed market in the Middle East?

Companies such as Skretting, Aller Aqua, and Biomar are among the major players in the Middle East aquafeed market, providing a wide range of feed solutions for different species.

What are the specific challenges faced by the aquafeed market in South Africa?

Challenges such as competition from imports, fluctuating raw material prices, and limited access to finance for small-scale aquaculture farmers are hindering the growth of the aquafeed market in South Africa.

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