Growing awareness about the overall growth & development of livestock and growing demand for superior quality feed is driving the growth of Global Aquafeed Market. Aquafeed Market has observed a substantial growth in terms of innovation and new product launches along with research & development with the support of industrial players. Also, increased acceptance of superior quality animal feed products among the livestock holders has led to a surge in the sales of aquafeed during the forecast period.
Fish and shellfish are found to have superior quality protein and essential nutrients, which helps in maintaining the overall boy metabolism of livestock animals. The aquafeed market is likely to observe a significant growth in the upcoming period owing to increasing globalization of seafood.
The escalating demand for superior quality animal feed has resulted in consumers shift towards accepting healthy feed into the daily diet of livestock animals. Owning to this, the consumption and demand for aquafeed have experienced a drastic increase. Consumers are identified to include consumption of aquafeed as a part of daily diet in the livestock animals. Aquafeed provide essential nutrients which helps in aiding the body’s metabolism.
Rise in demand for feed products supporting the overall growth and development of livestock animals is observed to be one of the huge opportunities for the manufacturers which will boost the market of aquafeed on a global level. Consumers inclination towards acceptance of feed products prepared using aquatic animals as an ingredient in feed clubbed with increasing product promotions through advertisements is estimated to increase the sale of aquafeed more during the given forecast period.
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Leading Key Players:
Manufacturers in the global aquafeed market are putting more efforts in the research and technical development in order to expand the product portfolio. Research and development will bring up in development of new products and also improve the quality and functionality of the product. Key industrial players have been focusing more toward product distribution channel in order to cover up maximum consumer base.
The key players profiled in Aquafeed Market are Cargill Inc. (U.S.), BioMar Group (Denmark), Waterbase Ltd (India), BASF (Germany), Alltech Inc. (U.S.), Coppen International BV (Netherlands), Ridley Corporation (Australia), Zeigler bros. Inc. (U.S.), Evonik Industries (Germany) and Marvesa (Netherland) among many others.
Latest Industry Updates:
May 2017 Cargill, Inc. has expanded its new aquafood manufacturing plant in Vietnam. The new manufacturing capacity of the plant will help in catering the excessive demand of aqua feed in Vietnam.
May 2017 Bio Mar has expanded their presence in the Africa region by introducing aqua feeds for tilapia and catfish.
March 2017 Archer Daniels Midland has expanded their presence in China with the opening of new plant in China.
June 2016 Archer Daniels Midland has launched an alga derived DHA feed; the product is designed especially to be used in the aqua feed.
April 2016 EVONIK has launched its new product by the name of AQUAVI. The product is a Met-Met aqua feed. The product will help in strengthening the overall market position in the Asia pacific region.
The global aquafeed market has been divided into aquatic species, ingredients, additive type, life cycle, and region.
On the Basis of Aquatic Species: Carps, Molluscs, Shrimps, Crustaceans, Catfish, Trouts, and Others
On the Basis of Ingredients: Wheat, Corn, Other Grains, Pulses, Oilseeds, and Others
On the Basis of Additive Type: Vitamins, Antioxidant, Antibiotics, Feed Enzymes, Amino Acid, and Others
On the Basis of Life Cycle: Alevin, Fry, Smolts, and Adult
On the Basis of Region: North America, Europe, Asia Pacific, and Rest of the World
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The global aquafeed market is segmented into North America, Europe, APAC, and Rest of the World (RoW). On the basis of region, Asia Pacific region is dominating the market throughout the forecast period of 2017-2022. Additionally, shifting consumption trend towards aquafeed products in countries especially Philippines, Thailand and other South East Asian countries is driving the growth of aquafeed market. China and India are found to be an attractive destination for manufacturers owing to the rising fish consumption. However, Europe is likely to witness a high growth in the global aquafeed market owing to changing consumer’s food habit. Among the European countries, Germany is anticipated to hold a major market proportion in the aquafeed market.
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