Home Food & Beverages Aquafeed Market Size, Trends, Share, Growth, Forecast 2030

Aquafeed Market

Aquafeed Market Size, Share & Trends Analysis Report By Form (Dry, Moist, Wet), By Additives (Amino Acids, Antibiotics, Vitamins & Minerals, Feed Acidifiers, Antioxidants, Enzymes, Anti-parasitic, Probiotics and Prebiotics), By Feed (Starter Feed, Grower Feed, Finisher Feed, Brooder Feed), By Application (Carp, Rainbow Trout, Salmon, Crustaceans, Tilapia, Catfish, Sea Bass, Grouper) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Report Code: SRFB2150DR
Study Period 2020-2032 CAGR 5.2%
Historical Period 2020-2022 Forecast Period 2024-2032
Base Year 2023 Base Year Market Size USD XX Billion
Forecast Year 2032 Forecast Year Market Size USD XX Billion
Largest Market Asia Pacific Fastest Growing Market North America
The sample report only takes 30 secs to download, no need to wait longer.

Market Overview

The global aquafeed market size was valued at USD 67.5 million in 2021. It is projected to reach USD 106.52 million by 2030, growing at a CAGR of 5.2% during the forecast period (2022–2030).

Aquaculture is fed aquafeed, a mixture of raw materials, additives, and other supplements derived from either natural or synthetic sources. Amino acids, vitamins, minerals, enzymes, probiotics, antibiotics, flavors, and colorants are the most common ingredients to formulate fish feed. Most of the world's fish production comes from Aquaculture and Capture. Fish includes Tilapia, Catfish, Carp, and Salmon, among others. Due to diminishing natural resources and other factors, the reliance on captured fisheries has decreased.

A large portion of fish production is directly consumed by humans, while only a small portion is used for animal feed. Aquafeed's final consumers are fish, mollusks, crustaceans, etc. Tilapia is the most farmed fish cultivated in 135 countries, while shrimp is the most significant aquaculture product. Aquaculture is an integral part of the economic development of several nations and has been positively received by many governments seeking to improve their nations' economic performance; some supportive policies have been implemented.

 

Market Dynamics

Global Aquafeed Market Drivers

Increasing Seafood Trade

The increasing popularity of organic fish farming is anticipated to create lucrative market expansion opportunities. Even though organic fish farming is still in its infancy, its growing consumer preference will likely stimulate market growth. The global aquafeed market's growth is anticipated to be bolstered by the rising demand for animal protein in major western nations and the escalating global seafood trade. The rising demand for seafood and consumer spending on fish & fish products, such as fish silage, fish meals, and fish oils, are anticipated to stimulate aquaculture production and market expansion. The world's growing population contributes to the expansion of the fish market, ultimately driving up demand for aquafeed.

Increasing Investments in R&D Activities

Increasing investments in the R&D of innovative products by market participants and industry associations will positively impact the market expansion. This new project aims to come up with alternatives to the ingredients currently used in fish feed to combat the current market's high prices for feed. Using plant-based proteins as a primary component of fish food is an innovative replacement option. The businesses have decided to pursue mergers and acquisitions to expand their product and service offerings to consumers.

Global Aquafeed Market Restraint

The volatility of Raw Material Prices

The market's growth is restricted by the high price volatility associated with the raw materials used in the feed preparation. For example, a significant increase in the price of soybeans, corn, or any of the product's other raw materials can directly impact the product's final price. There is an increase in the people selecting vegetarian diets and excluding food that is not vegetarian. It is anticipated that this will reduce the demand for fish, which can harm the market. The regulatory system of the animal feeds industry restricts the use of certain substances such as antibiotics, and the rising cost of raw materials is the primary factor restraining market expansion.

Regional Analysis

The global aquafeed market is segmented into North America, Europe, Asia Pacific, and LAMEA.

Asia Pacific region will dominate the aquafeed market during the forecast period. This can be attributed to the regional aquaculture sector's rapid expansion. This development is attributable to the region's natural resources, affordable labor, and favorable conditions for aquaculture development.

The aquaculture industry is booming in Europe, particularly in the United Kingdom, France, Italy, and Spain. Improvements in environmental management, feed efficiency, and nutrient consumption by aquatic species have fueled the European market's expansion.

The aquafeed market has expanded rapidly in the North American region as well. Due to the increased demand for seafood such as salmonids, mollusks, hard clams, oysters, and mussels, the aquaculture industry in North America is expected to expand significantly throughout the projection period.

Report Scope

Report Metric Details
Segmentations
By Form
  1. Dry
  2. Moist
  3. Wet
By Additives
  1. Amino Acids
  2. Antibiotics
  3. Vitamins & Minerals
  4. Feed Acidifiers
  5. Antioxidants
  6. Enzymes
  7. Anti-parasitic
  8. Probiotics and Prebiotics
By Feed
  1. Starter Feed
  2. Grower Feed
  3. Finisher Feed
  4. Brooder Feed
By Application
  1. Carp
  2. Rainbow Trout
  3. Salmon
  4. Crustaceans
  5. Tilapia
  6. Catfish
  7. Sea Bass
  8. Grouper
Company Profiles Cargill, Incorporated BioMar Group Ridley Corporation Limited Aller Aqua BENEO Alltech AKER BIOMARINE Charoen Pokphand Foods PCL Skretting Purina Animal Nutrition LLC Dibaq Aquaculture INVE Aquaculture Avanti Feeds Limited Biostadt India Limited The Waterbase Limited
Geographies Covered
North America U.S. Canada
Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
APAC China Korea Japan India Australia Taiwan South East Asia Rest of Asia-Pacific
Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Need a Custom Report?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports

Segmental Analysis

The global aquafeed market is segmented by form, additives, feed, and application.

Based on form, the market is segmented into dry, moist, and wet.

The market is dominated by dry-type products with the highest revenue share. This is due to its capacity to increase the fish's feed conversion ratio. In addition, it is likely to gain traction in the coming years due to the high palatability of the dry feed-in form.

Based on additives, the market is divided into amino acids, antibiotics, vitamins and minerals, feed acidifiers, antioxidants, enzymes, anti-parasitic, probiotics, and prebiotics.

Amino acids dominate the market, accounting for most of the revenue. This high share is due to its benefits, which include improving immunity, increasing larval performance, optimizing fish's metabolic transformation efficiency, increasing tolerance to environmental stresses, and improving fillet taste and texture when added to aquafeed.

Antibiotics are frequently utilized as aquafeed supplements. By enhancing general health, they encourage greater growth and are utilized to increase productivity and efficiency. The growth of some bacterial diseases is encouraged by intensive aquaculture, which also increases antibiotic usage. Due to various distribution and registration procedures in various nations, it isn't easy to easily verify the current levels of antibiotics used in aquaculture worldwide.

Vitamins are often used in the manufacture of animal feed. They serve as strong defenses against germs, parasites, and viruses. Vitamins are naturally present in the feed, but they are combined with other additives to give animal feeds the best nutrition. Moreover, several mineral elements are thought to be crucial nutrients for fish. The mineral elements are added to the aquafeed to keep fish healthy and disease-resistant.

Based on feed, the market is categorized into starter, grower, finisher, and brooder.

With a significant revenue share, grower feed dominates the market. Its high market share can be attributed to its increasing use in animals aged 6 to 20 weeks to meet their nutritional needs. This food is given to the animal until it is ready to reproduce and lay eggs. Switching from starter to grower feed is essential because too much protein can cause long-term liver or kidney problems.

Finisher feeds are also frequently employed. Adult fish and animals older than 20 weeks are typically fed finisher feeds. It offers the nutrients necessary to meet the animal's primary needs. It has a high energy content and 21% protein to support life. The feed supplies a lot of energy to enable the seamless performance of routine chores.

Starter feed is a type of protein-rich feed created to meet the dietary requirements of animals. It typically has a 21% protein content, which aids in animal development. Given that the animal is growing significantly at this point in life, it has the highest protein level it has ever had. Starting meals helps the young animal get used to eating solid food and increase feed absorption for subsequent stages. It is more nutrient-dense and includes the nutrients needed for the animals' maximum growth.

Based on application, the market is divided into carp, rainbow trout, salmon, crustaceans, tilapia, catfish, sea bass, grouper, and others.

The market application is dominated by carp during the forecast period. Its high consumption is due to the associated health benefits of this species, such as immunity booster, improved heart health, control of chronic diseases, and protection of gastrointestinal functions.

Catfish are raised in freshwater ponds utilizing rice, corn, and soybean as aquafeed since they are a sustainable fish species. Because of its ease of farming in less-than-ideal climatic circumstances, it is the preferred aquaculture species. The need for aquafeed is anticipated to increase as consumers seek catfish more frequently due to its high omega-6 and vitamin D content.

Tilapia is a freshwater fish raised in aquaculture because of its rapid development and cheap vegetarian feed. Compared to predatory animals like salmon, the fish grows faster. The importance of aquafeed is anticipated to increase in the next years as a result of the increasing tilapia species production due to its quick development rate, palatability, high protein content, and huge size.

Market Size By Form

Market Size By Form
  • Dry
  • Moist
  • Wet
  • Recent Developments

    • In January 2023, To provide American producers of animal protein with high-performance enzyme solutions, BASF and Cargill are extending their collaboration.
    • In January 2023, Using Benson Hill soy and further analyzing its sustainability impact on high-performance aquafeed formulations, BioMar, a company located in Denmark, and Benson Hill, Inc., a food innovation firm that unlocks the natural genetic variation of plants, have established a strategic partnership.

    Top Key Players

    Aquafeed Market Share of Key Players

    Aquafeed Market Share of Key Players
    Cargill, Incorporated BioMar Group Ridley Corporation Limited Aller Aqua BENEO Alltech AKER BIOMARINE Charoen Pokphand Foods PCL Skretting Purina Animal Nutrition LLC Dibaq Aquaculture INVE Aquaculture Avanti Feeds Limited Biostadt India Limited The Waterbase Limited Others

    Frequently Asked Questions (FAQs)

    What is the growth rate for the Aquafeed Market?
    Aquafeed Market size will grow at approx. CAGR of 5.2% during the forecast period.
    Some of the top industry players in Aquafeed Market are, Cargill, Incorporated, BioMar Group, Ridley Corporation Limited, Aller Aqua, BENEO, Alltech, AKER BIOMARINE, Charoen Pokphand Foods PCL, Skretting, Purina Animal Nutrition LLC, Dibaq Aquaculture, INVE Aquaculture, Avanti Feeds Limited, Biostadt India Limited, The Waterbase Limited, etc.
    Asia Pacific has held a dominant position in the Aquafeed Market, with the largest market share.
    The Aquafeed Market has seen the most substantial growth rate in North America.
    The global Aquafeed Market report is segmented as follows: By Form, By Additives, By Feed, By Application


    We are featured on :