The Global Aquafeed Market is projected to reach a value of over USD 79.4 billion by 2027 at a CAGR of around 6.7%.
Aquafeeds are meals prepared for aquatic animals by mixing raw materials and additives. These blends are prepared according to the specific requirementsof the species and age of the animal. Nutritional, immune resistant, and growth-promoting properties of aquafeed haveincreased its importance in the aquaculture industry. High-quality aquafeed is exponentially more beneficial to fish, molluscs, crustaceans & other aquatic animals than farm-made feed due to their balanced and need specific composition.
Market Driver:
Growth in the aquaculture industry has expected to boost the demand for the aquafeed market during the forecasted period. This is attributed to the increased production of food for human consumption, the opening of commercially viable business opportunities, increased national exports, and need for substitution of imports by local production. According to the Food & Agriculture Organization of the United Nations, in 2018, total global capture fisheries production reached the highest level ever recorded at 96.4 million tones.
Market Restraint:
Global development of aquaculture has resulted in increasing concerns about the environmental impact which may hinder the growth of the aquafeed market. Environmental degradation from aquaculture has been reported and negatively affected which includes organic population and eutrophication, a buildup of excess nutrients and waste in the ecosystem. Thus, to control this impact and maintain the supply of aquafeed, governments have imposed various regulations. For instance, under the Fisheries Act, B.E. 2558 (2015), Department of Fisheries is authorized to address aquaculture sustainability, including food safety, animal health and welfare, environmental integrity, social and community welfare and regulation of fishing activities.
The report on the aquafeed market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features |
Specifics |
---|---|
Historical/Estimated/Forecasted Market Size Years |
2019-2027 |
Base Year for Market Calculation |
2020 |
Forecasted Period |
2021-2027 (2021 estimated year, forecasted up to 2027) |
Measured Units |
Value (USD Million), Volume (Tons) |
Segments Included |
Additives, Ingredients, Form, Lifecycle Application, and Region |
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Aquafeed Market, by Additives
Aquafeed Market, by Ingredients
Aquafeed Market, by Form
Aquafeed Market, by Lifecycle
Aquafeed Market, by Application
Aquafeed Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE AQUAFEED MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY