According to Stratistics MRC, the Global Aquafeed market is accounted for $114.20 billion in 2017 and is expected to reach $289.94 billion by 2026 growing at a CAGR of 10.9%.
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Some of the factors favouring the market growth are increasing demand for seafood trading, rising consumer awareness about good quality seafood products, easy availability of fish meal.
However, growing raw material prices, stringent environmental regulations about fishing is restricting the market. In addition, increasing government initiatives to support aquaculture, rising disposable incomes in developing countries are some of the major opportunities during the forecast period.
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Aquafeed is a food meal which is used for various aquatic species such as fish, crustaceans, and mollusks. It is widely used for aquaculture.
Aquafeed is essential for aquaculture sector due to its growing promoting properties, immune resistant and nutritional benefits. High quality Aquafeed is useful for crustaceans, mollusks, fish and other aquatic animals due to their balanced and need specific composition.
By Additives, feed acidifiers have acquired largest market growth. The demand for feed acidifiers is growing as they increase gastric acids levels in animals which further enhance their digestion system and this acid also kills harmful bacteria in the gastro intestinal tract.
On the other hand, crap feed is witnessing huge growth due to the fact that carps provide high amounts of proteins which consist of low fat levels and are rich in omega-3 fatty acids. Europe is expected to witness largest market growth due to rising income levels of middle class people, growing fish consumption due to high protein diets are some of the factors favouring towards the growth of Aquafeed in Europe region.
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Some of the key players in global Aquafeed market include Nutreco N.V, Aller Aqua A/S,
Archer Daniels Midland Company, DE Heus Animal Nutrition, Purina Animal Nutrition (Land O’ Lakes Inc.), Avanti Feeds Limited, Biomin Holding GmbH, Cargill, Biostadt India Limited, Ridley Corporation Limited, Norel Animal Nutrition, Alltech, Dibaq A.S, Nutriad and Biomar.
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