The Global Aqua Feed Market is valued at approximately USD 61.80 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 7.6% over the forecast period 2024-2030. Aqua feed, a critical component of the aquaculture industry, encompasses manufactured food specifically formulated to meet the dietary requirements of aquatic animals. Comprising diverse ingredients like plants, marine organisms, grains, and additives such as vegetable protein and fish oil, modern aqua feed formulations are designed to provide balanced nutrition to different fish species, thereby promoting healthy growth and efficient feed conversion. These formulations typically integrate a mix of proteins, carbohydrates, fats, vitamins, and minerals tailored to the nutritional needs of farmed fish across various life stages, aiding their growth and reproduction.
The aqua feed market is poised for substantial growth, driven by the increasing global population, the expansion of the aquaculture industry, and the rising consumption of fish and seafood. Additionally, heightened nutritional awareness and the growing adoption of specialized aqua feed formulations significantly contribute to market growth. However, the escalating costs of raw materials, including fish meal and fish oil, coupled with environmental concerns related to aquaculture, pose challenges to market expansion. Conversely, the growing demand for animal protein in developed nations and the expansion of aquaculture operations in emerging markets present lucrative growth opportunities for the aqua feed market.
The grower feed segment is projected to dominate the aqua feed market due to its extensive use in feeding animals aged between 6 to 20 weeks, addressing their nutritional needs effectively. Administered until animals are ready for reproduction and egg-laying, grower feed is crucial for avoiding potential long-term health issues such as liver or kidney complications from excessive protein intake. Additionally, finisher feeds are widely utilized for adult fish or animals over 20 weeks old.
Asia-Pacific holds a dominant position in market revenue, particularly in countries like India, driven by increasing meat consumption and rising consumer income levels. The shift towards fish and other seafood to meet dietary protein requirements has heightened awareness of the nutritional benefits of seafood, subsequently boosting the demand for aqua feed products in India. Despite traditional feeding practices, there is a gradual transition towards commercial feed adoption, although challenges in feed and energy costs impact overall competitiveness.
Major market players included in this report are:
Aker Biomarine
Skretting
Purina Animal Nutrition LLC
Cargill, Inc.
Dibaq Aquaculture
BENEO
Alltech
BioMar Group
Ridley Corp. Ltd.
Aller Aqua
Biostadt India Ltd.
The Waterbase Ltd.
The detailed segments and sub-segment of the market are explained below:
By Form:
Dry
Moist
Wet
By Additives:
Amino Acids
Antibiotics
Vitamins & Minerals
Feed Acidifiers
Antioxidants
Enzymes
Anti-parasitic
Probiotics & Prebiotics
Other Additives
By Feed:
Starter Feed
Grower Feed
Finisher Feed
Brooder Feed
By Application:
Carp
Rainbow Trout
Salmon
Crustaceans
Tilapia
Catfish
Sea Bass
Grouper
Other Applications
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
RoMEA
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.
