Aquafeed Market Size and Growth Rate:

“The Global Aquafeed Market was valued at US$ 44.3 Bn in 2018 and is expected to grow at a significant CAGR over six years forecast period 2019-2025 owing to increasing population around the globe coupled with growing awareness among the population regarding the quality of seafood”

Aquafeed Market Growth Drivers and Restraints:

The global aquafeed market was valued at US$ 44.3 Mn in 2018 and growing at a CAGR of 6.9% over the forecast period owing to upsurge in consumption of seafood, increasing trade for seafood. Growing awareness among the population about the quality of seafood are expected to drive of the aquafeed market over the forecast period. Moreover, only limited marine feed resources are available and demand for seafood is increasing with significant rate and it is expected that more than 45% of global seafood supply is anticipated from fish farms. In addition, increase in per capita income and lack of nutritional values in the non-medicated feed in developing countries are expected to drive the growth of the market. However, environmental factors and high cost of medicated aquafeed are the major factors hindering the growth of aquafeed market over the forecast period.

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Fish segment accounted for higher revenue share:

Based on species type, global aquafeed market segmented into Fish, Molluscs, Crustaceans, and Others. Fish feed segment accounted for the largest market share in 2018 with respect to revenue owing to the rising farming activities and increasing demand for fish feed coupled with the easy way for fish farming and aquaculture in controlled environments or under artificial situations. Molluscs and crustaceans are also expected to see significant growth over the forecast years.
Asia Pacific holds leading position in Global Aquafeed Market:

PBI’s global aquafeed market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. According to regional analysis, Asia Pacific is expected to account for larger revenue share in 2018 and the same trend is projected to follow over 2019-2025 owing to presence of leading players in the region. China and India are the largest producers of aquafeed every year in the APAC region. Increasing population in the region coupled with rising consumption of seafood is expected to boost the growth of the market. Growing demand for convenience food and processed seafood are attributed to fuel the growth of the market.
Recent Developments in the Global Aquafeed Market:

 In July 2019, Ridley Corporation has opened its new extrusion plant in Westbury Tasmania. The factory is targeting the salmon and fish feed sectors as well as pet food producers
 In May 2017, De Heus Nutrition Animal entered into Spanish animal feed market by the acquisition of Acorex
 In June 2016, Alltech acquired the Coppens for the expansion of its business segment in the Europe region
 In April 2016, Terravia and Bunge launched the Algaprime DHA for aquafeed.

Key player’s profiles in the report are Ridley Corporation Ltd (Australia), Nutraid (Belgium), Alltech (U.S.), Biomar (Denmark), Avanti Feeds Ltd. (India), Aller Aqua A/S (Denmark), Tongwei Co. Ltd (China), Zhuhai Shihai Feed Co. Ltd (China), Nutreco N. V (Netherlands), Terravia Holdings Inc. (U.S.), Bunge Ltd. (U.S.), and Archer Daniels Midland Company (U.S.) to name a few.

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Detailed Segmentation of Aquafeed Market:

By Product Type
o Non-Medicated feed
o Soybean
o Fish meal
o Corn
o Fish oil
o Others
o Medicated feed
o Vitamins
o Amino acids
o Antibiotics
o Anti-oxidants
o Feed enzymes
o Others

By Species
o Fish
o Molluscs
o Crustaceans
o Others

Geography

o North America
o Europe
o Asia-Pacific
o Latin America
o Middle East and Africa (MEA)
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