September 2024 | Report Format: Electronic (PDF)
Aquafeed Market Growth & Trends
The global aquafeed market size is expected to reach USD 102.3 billion by 2030, registering a CAGR of 4.4% over the forecast period, as per the new report by Grand View Research, Inc. The growth is majorly driven by the rising consumption of aquafeed by species like carp, catfish, salmon, and shrimps, among others due to its rich protein content. The future of the global market is dependent on the increasing acceptance of aquafeed, which contains essential oils, feed acidifiers, natural extracts, and palatants, which are important for aquaculture species in their overall growth across each stage of development. The widespread fish mortality due to various infections, which are caused by parasites is driving the product demand. These feed products are consumed by various fish species, such as catfish, salmon, trout, tilapia, shrimps, largemouth bass, and eel.
These feeds for aquatic species are a source of omega-3 fatty acids and proteins. It improves the nutritional value of feed and offers several other benefits like improved growth rate, reduced mortality of various aquatic species, digestibility of proteins, and enhanced immune system. The COVID-19 pandemic had crippled the economies of the world and severely impacted the supply chain across key industries. The distribution of raw materials for aquafeed was affected by the pandemic due to which its production was hampered. In addition, strict lockdowns were imposed to curb the spread of the virus. Due to this, many manufacturing and production units were closed. Furthermore, there were rumors of transmission of the virus through poultry, which, in turn, hindered market growth.
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Aquafeed Market Report
Aquafeed Market Report Highlights
- Dry aquafeed form witnessed the fastest growth rate from 2023 to 2030 owing to its properties, such as easy production, quick transport, long storage life, and quick dispense into the fish culture environment
- Feed acidifiers are estimated to witness the fastest growth rate from 2022 to 2030 due to their ability to prevent the species from diseases, which are caused by E. coli and Salmonella. These additives are prepared from organic acids along with their salts and help in maintaining gastric acid levels in aquatic species
- The grower feed type will have a high growth rate during the forecast years due to its rising demand as it supports the continuous growth of the animals without burdening them with extra vitamins and minerals intake
- Sea bass application will witness a high growth rate from 2023 to 2030 due to its increasing consumption in the food industry because of its low calorie and high protein content. It is a carnivorous fish and is rich in omega-3 fatty acids, proteins, and selenium. It also contains potassium, mercury, magnesium, vitamin B12, and vitamin B6
- Asia Pacific will emerge as the fastest-growing region from 2023 to 2030 owing to its favorable climatic conditions in countries like China and India, which help enhance the overall aquaculture industry production, thereby boosting the market growth
Aquafeed Market Segmentation
Grand View Research has segmented the global aquafeed market report on the basis of form, additives, feed, application, and region:
Aquafeed Form Outlook (Volume, Tons; Revenue, USD Million, 2018–2030)
- Dry
- Moist
- Wet
Aquafeed Additives Outlook (Volume, Tons; Revenue, USD Million, 2018–2030)
- Amino Acids
- Antibiotics
- Vitamins & Minerals
- Feed Acidifiers
- Antioxidants
- Enzymes
- Anti-parasitic
- Probiotics & Prebiotics
- Others
Aquafeed Feed Outlook (Volume, Tons; Revenue, USD Million, 2018–2030)
- Starter Feed
- Grower Feed
- Finisher Feed
- Brooder Feed
Aquafeed Application Outlook (Volume, Tons; Revenue, USD Million, 2018–2030)
- Carp
- Rainbow Trout
- Salmon
- Crustaceans
- Tilapia
- Catfish
- Sea Bass
- Grouper
- Others
Aquafeed Regional Outlook (Volume, Tons; Revenue, USD Million, 2018–2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Denmark
- Asia Pacific
- China
- India
- Japan
- Vietnam
- Thailand
- Indonesia
- Australia
- Central & South America
- Brazil
- Argentina
- Chile
- Ecuador
- Middle East & Africa
- South Africa
- Egypt
List of Key Players of Aquafeed Market
- Cargill, Inc.
- BioMar Group
- Ridley Corp. Ltd.
- Aller Aqua
- BENEO
- Alltech
- Aker Biomarine
- Charoen Pokphand Foods PCL
- Skretting
- Purina Animal Nutrition LLC
- Dibaq Aquaculture
- INVE Aquaculture
- Avanti Feeds Ltd.
- Biostadt India Ltd.
- The Waterbase Ltd.
