The global aquafeed market is segmented by additives into vitamins, minerals, antibiotics, amino acids, enzymes, acidifiers, binders, fish oil and others; by form into extruded, pellets, powder and liquid; by application into carps, mollusks, crustaceans, salmons, tilapia, catfish and others and by regions. The aquafeed Market is anticipated to mask a CAGR of 6.4% during the forecast period i.e. 2019-2027.
Currently, the market is observing vibrant growth owing to increasing production of aquaculture due to growing pressure on food production around the globe. The rise in demand for exotic aquatic food such as mollusks and crustaceans is also propelling the growth of market around the world. Further, the rise in personal disposable income has increased the adoption of sea food that is estimated to add up more pressure on the supply of quality marine cultured fishes and organisms during the forecast period.
On account of increasing captivating advertisements across the region evoking rise in sales of premium quality aquafeed with high-quality ingredients is penned to induce a significant market growth over the forecast period. The demand for marine food is considerably increased due to increasing disposable income and rising adoption of exotic sea food around the globe, which is estimated to drive the market during the forecast period.
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Growing Applications in expanding Marine Culture
Rising urbanization and increasing pressure for quality feed to culture superior quality school of fishes is expected to boost the market globally. Growing demand for food on the back of increasing global population is anticipated to intensify the demand for growing aqua culture population over the forecast period. The Food and Agriculture Organization reported that the world aqua culture production increased from 41,724,569.75 metric tons in 2000 to 106,004,183.75 metric tons in the year 2015. It is further estimated to increase and impact the global aquafeed market positively over the forecast period. Furthermore, increasing initiatives by regulatory bodies in various countries to step up their production activities and to ease down aquaculture ecosystem by revising regulatory standards is expected to drive the market during the forecast period.
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However, due to the strict environmental regulations tapping out the oceans has made it difficult to procure raw material surrounding the wild and marine lives to obtain fish meals and fish oils for feed, serving as a key restraint in the growth of the market over the forecast period.
The report titled “Global Aquafeed Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global aquafeed market in terms of market segmentation by additives, by form, by application and by regions.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global aquafeed market which includes company profiling of Cargill Inc., Biomar A/S, Ridely, Aller Aqua, BASF, DSM, Nutreco N.V., Alltech Inc., Beneo GmbH, Avanti Feeds Ltd. and Other Prominent Players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global aquafeed market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.