Market Insights:
The Global Aquafeed Market Statistics has witnessed continued demand during the last few years. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on global Aquafeed Market Statistics Research Report- Forecast to 2023 that the market will demonstrate an exceptional CAGR % while achieving million dollar growth readily in the forecast period.
The rising demand for sea food will accelerate the demand for aquaculture farming which is expected to steer growth in the Aquafeed Market Statistics. The nutritional value of fish, awareness about the benefits of omega 3 enriched diet, etc. are propelling the demand for aquafeed among the aquaculture farmers and is anticipated to demonstrate similar trend throughout the projection period.
The catalyzed demand demonstrated by crustacean and carp farming has also multiplied the revenue generation in the Aquafeed Market. Other factors such as increasing population, rising per capita income, urbanization, etc. are obliquely fueling the growth and expansion of the market. Furthermore, the increasing product offering with an innovative blend of additives and ingredients are poised to generate more demand in the market over the next couple of years. However, the price fluctuations of raw materials used for the production of aquafeed will restrict the growth and expansion of the market during the forecast period.
Competitive Dashboard:
The key players profiled by MRFR in its latest report are Cargill Inc. (U.S.), Waterbase Ltd (India), Alltech Inc. (U.S.), Ridley Corporation (Australia), Evonik Industries (Germany), BioMar Group (Denmark), BASF (Germany), BASF (Germany), Coppen International BV (Netherlands), Zeigler bros. Inc. (U.S.), and, Marvesa (Netherland). The strategies planned and implemented by the market players to gain a competitive edge over others include product portfolio expansion, acquisitions & mergers, inauguration of manufacturing plants, increased production, etc.
Market Segmentation:
By aquatic species, the global Aquafeed Market Statistics is segmented into carps, molluscs, shrimps, crustaceans, catfish, trouts, and, others.
By ingredients, the global market for aquafeed has been segmented into wheat, corn, other grains, pulses, oilseeds, and, others.
By additive type, the global Aquafeed Market is segmented into vitamins, antioxidant, antibiotics, feed enzymes, amino acid, and, others.
By life cycle, the Aquafeed Market has been segmented into alevin, fry, smolts, and, adult.
Regional Analysis:
By region, the global Aquafeed Market is segmented into North America, Europe, Asia Pacific, and, Rest of the world. The Asia Pacific market is projected to grow at a robust CAGR across the assessment period. The increase in aquaculture production in the region will fuel growth and expansion of the market. China plays a crucial role in the growth of Asia Pacific market and is expected to retain its position over the forecast period persistently.
The market in Europe is poised to thrive at a moderate pace from 2017 to 2022 owing to increased demand for sea food and its nutrients. The growth strategies executed by the prominent players in the region is also expected to accelerate the expansion of the market.
The growth in North America market can be attributed to the presence of key players in the market such as Cargill Inc., Zeigler bros. Inc., Alltech Inc., etc. The market will benefit from the rising awareness about fish as a protein-rich diet which will catapult the aquaculture farming in the region. The growing demand for omega 3 enriched diet will catalyze the aquaculture production in the RoW market.
Latest Industry Updates
May 2017 Cargill, Inc. expanded their new aqua food manufacturing plant in Vietnam. New manufacturing capacity of the plant is catering the excessive demand of aqua feed in Vietnam.
April 2016 EVONIK launched AQUAVI® Met-Met as an aqua feed. The product strengthens the overall market position in the Asia pacific region.
May 2017 Bio Mar expanded their presence in Africa region by introducing aqua feeds for tilapia and catfish.
March 2017 Archer Daniels Midland expanded their presence in China by introducing new plant in China.
June 2016 Archer Daniels Midland launched algae derived DHA which is especially used in the aqua feed.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
Contact us:
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street,5Th Floor, New York,
New York 10013,
United States of America
