What Has Driven the Growth of the Aquaculture Feed Market in Recent Years?
The aquaculture feed market has seen considerable growth due to a variety of factors.
• Over the recent years, the size of the aquaculture feed market has seen robust growth. It is projected to expand from $63.89 billion in 2024 to $69.03 billion in 2025, with a compound annual growth rate (CAGR) of 8.1%. This growth during the historical period is mainly due to factors such as the rise in seafood consumption, research and development activities, regulatory backing, the economic feasibility of aquaculture, and the globalization of aquaculture operations.
How Will the Aquaculture Feed Market Size?
The Aquaculture Feed market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the aquaculture feed market is projected to experience significant growth, increasing to a value of $93.44 billion in 2029, with a 7.9%.
compound annual growth rate (CAGR). This growth during the forecast period is linked to various factors including sustainable aquaculture methods, alternative protein sources, adaptation to climate change, health and disease management, as well as e-commerce and supply chain enhancements. Predominant trends expected during this forecast period include sustainable and alternate protein sources, feeds with functional benefits for health and performance, precision feeding and technology fusion, tailored and specialty feeds, and aquafeed innovation for niche species.
Which Factors Are Boosting Growth In The Aquaculture Feed Market?
The escalating need for seafood is predicted to boost the aquaculture feed market's growth in the future. Seafood, which includes aquatic animals and fish such as fish, shrimp, and octopuses that humans can consume, is harvested or cultivated for human intake. It serves as a vital provider of proteins and nutrients. One of the best methods to produce high-quality seafood for human intake is through aquaculture feed. For instance, in July 2022, the Organization for Economic Cooperation and Development (OECD), an intergovernmental organization based in the US, projected that 90% of fish production would be utilized for food by 2029. A 16.3% or 25 Mt rise in fish production for human consumption, reaching 180 Mt by 2029 globally, is expected. Consequently, the need for high-quality seafood, including frozen variants, is propelling the growth of the aquaculture feed market.
What Key Areas Define The Segmentation Of The Global Aquaculture Feed Market?
The aquaculture feed market covered in this report is segmented –
1) By Product Type: Pellets, Extruded, Powdered, Liquid
2) By Ingredient Type: Soybean, Corn, Fishmeal, Fish Oil, Additives, Other Ingredients
3) By Species Type: Carp, Marine Shrimps, Tilapias, Catfishes, Marine Fishes, Salmons, Freshwater (FW) Crustaceans, Trouts, Other Species
4) By Distribution Channel: Store Based, Online
5) By End User: Commercial, Household
Subsegments:
1) By Pellets: Floating Pellets, Sinking Pellets
2) By Extruded: High-Energy Extruded Feed, Low-Energy Extruded Feed
3) By Powdered: Fine Powder, Coarse Powder
4) By Liquid: Nutrient Solutions, Flavor Enhancers
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How Are Emerging Trends Reshaping The Dynamics Of The Aquaculture Feed Market?
The emergence of product innovations is currently a significant trend in the aquaculture feed market. To maintain their market presence, leading companies in this sector are focusing on the creation of innovative products. For example, in June 2024, Norway's Skretting, a company offering sustainable feed solutions for the aquaculture industry, introduced a novel feed formulation concept called AmiNova. This concept is aimed at enhancing the precision of fish nutrition by implementing an optimal digestible amino acid profile, deviating from the conventional use of crude and digestible protein. The formulation takes into account the specific amino acids absorbed by fish, hence minimizing surplus and maximizing nutrient efficiency.
Who Are the Key Players In The Aquaculture Feed Market?
Major companies operating in the aquaculture feed market include:
• Alltech Inc.
• Land O'Lakes Inc.
• Nutreco N.V.
• Charoen Pokphand Foods PCL
• Avanti Feeds Limited
• Ocean Star International Inc.
• Ridley Corporation Limited
• Guangdong Haid Group Co. Ltd.
• Tongwei Group Co. Ltd.
• Betagro Group
• De Heus Vietnam LLC
• Schouw & Co. AS
• BioMar A/S
• Cargill Inc.
• Coppens International BV
• Hanpel Tech Co. Ltd.
• Inve Aquaculture Inc.
• Nutriad International NV
• Biomin
• Bluestar Adisseo
• Wilbur-Ellis Nutrition LLC
• New Hope Group
• Grobest Holdings Limited
• NovoNutrients
• EniferBio
• Archer Daniels Midland Company
• Norel Animal Nutrition
• Zeigler Bros Inc.
What Is The Most Dominant Region In The Aquaculture Feed Market?
Asia-Pacific was the largest region in the Aquaculture feed market in 2024. The regions covered in the aquaculture feed market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
