Latin America Aquatic Feed Market By Ingredient (Soybean, Corn, Fish Meal, Fish Oil, Additives And Others), By Additive (Antibiotics, Vitamins, Antioxidants, Amino Acids, Feed Enzymes, Feed Acidifiers And Other Additives)
According to the report , published by Market Data Forecast. Latin America Aquatic Feed Market was worth USD 5.88 billion in 2016 and estimated to be growing at a CAGR of 10%, to reach USD 9.47 billion by 2021.
A major important part of running a successful commercial aquaculture is the selection of the right manufactured feeds which provide the balanced nutrition required by fish. The feed may be either granular or in the form of pellets and are essential in providing the fish with a balanced diet within their enclosures where their natural food sources may be absent.
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Wheat is being used as major ingredient in all aquatic feed due to its binding property for holding the pellets together. As for the carnivorous species of fish such as salmon, trout and turbot, fishmeal and fish oil are the major components for making the feed.
Other key ingredients in fish feed include vegetable proteins, vitamins, minerals and cereal grains. Trash fish is also considered as fish feed, wherein fish that is caught is fed directly to larger species that grow in aquatic pens.
The major factors affecting the Aquatic Feed market include the rising populations, rise in income leading to increased demand for seafood, the rapid urbanization and a strong expansion of the seafood production industry aided by technological advancements making for better distribution and storage. The market is also bolstered by the rise in demand for natural health supplements of which omega-3 fatty acids derived from certain species of fish is a major component.
The soaring prices of materials needed for aquatic feed production is one of the restraints of the market along with the fact that the industry is profitable only with large scale production.
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The Latin America Aquatic Feed market is broadly classified by Ingredient into Soybean, Corn, Fish Meal, Fish Oil, Additives and Others, based on additive type into Antibiotics, Vitamins, Antioxidants, Amino Acids, Feed Enzymes, Feed Acidifiers and Other Additives, and by End User into Fish Feed such as Tilapia, Salmon, Carp and Catfish Feed, Molluscs such as Oyster Feed and Mussel Feed, Crustaceans such as Shrimp Feed and Crab Feed and Others. Based on geography, the Latin America market is divided into Argentina, Brazil and Mexico.
The Latin American region is one that offers immense scope for development in the forecast years as is evident from the high growth rate of the region. Inspite of having only a minor market share, the CAGR of the region is the second highest globally only behind Asia-Pacific.
This market is one that shows promise in the coming years.
- Market Segmentation
- Fish Meal
- Fish Oil
- Y-o-Y Growth Analysis, By Ingredient
- Market Attractiveness Analysis, By Ingredient
- Market Share Analysis, By Ingredient
- Amino Acids
- Feed Enzymes
- Feed Acidifiers
- Other Additives
- Y-o-Y Growth Analysis, By Additive
- Market Attractiveness Analysis, By Additive
- Market Share Analysis, By Additive
- End User
- Tilapia Feed
- Salmon Feed
- Carp Feed
- Catfish Feed
- Oyster Feed
- Mussel Feed
- Shrimp Feed
- Crab Feed
- Y-o-Y Growth Analysis, By End User
- Market Attractiveness Analysis, By End User
- Market Share Analysis, By End User
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The Aquatic Feed market is highly competitive with a large number of players. Key market players dominating the market with their products are Cargill Inc, BioMar group, Waterbase Ltd, BASF SE, Alltech Inc, Coppen International, Evonik Industries, Archer Daniels Midland Company, Ridley Corporation, Nutreco NV, Avanti Feeds Ltd and Ewos.
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