New York, NY -- (SBWIRE) -- 01/21/2021 -- Aquafeeds are compounded meals prepared for aquatic animals by mixing various raw materials and additives. Aquafeed has become important to aquaculture sector owing to its immune resistant, nutritional, and growth promoting properties. High quality aquafeed is more beneficial to molluscs, fish, crustaceans and other aquatic animals than farm-made feed owing to their need specific and balanced composition.

The Global Aquafeed Market was valued at USD 118.8 billion in the year 2018 and is expected to reach the valuation of USD 254.6 billion by the year 2026, growing at a CAGR of 10.2% through the forecast years. The report gives a comprehensive overview of the global market scenario after evaluating the available data and market trends. This study performs a thorough examination of the available data to predict the prospective market growth in the forecast period. The study examines historical data collected from the years 2016 and 2017 and considers 2018 as the base year to project the growth of the industry until the year 2026. It performs a detailed analysis of the market size, share, demand, trends, revenue, and sales to track the development of the industry through the years.

Some of the key players operating in the Aquafeed market are Biomar A/S, Cargill Inc., NK Ingredients Pte Ltd., Norel Animal Nutrition, Aller Aqua A/S, Beneo GmbH, Alltech Inc., Evonik Industries, Novus International Inc., Cermaq ASA, De Heus, Nutriad International, Ridley Corporation, Dibaq a.s., InVivo NSA, Archer Daniel Midland (ADM), Addcon Group GmbH, Biomin Holding GmBH, Skretting,Avanti Feeds Ltd..

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Market Drivers

Rising global seafood consumption and increasing consumer awareness on quality of seafood products are propelling the aquafeed market growth. Additionally, rising per capita income of individuals, especially from developing countries, is anticipated to maintain the growth of aquafeed and aquaculture sector. With increase in aquaculture to sustain the demand for seafood for the rising population, the aquafeed industry is also growing rapidly.

Market has been divided by Type as:

Fish Feed
Crustacean Feed
Mollusk Feed
Others

Market has been divided by Ingredients as:

Soybean
Corn
Fish Meal
Fish Oil
Additives
Others

Market has been divided by Species as:

Crustaceans
Mollusks
Catfish
Carp
Salmon
Tilapia
Others

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Regional Landscape

Asia Pacific dominated the aquafeed market and accounted for over 40.0% share of the global revenue in 2020 and is anticipated to maintain its position during the forecast period. Aquaculture production in this region, prominently in China, and some factors like the durability of species, ease of fish farming, and superior water quality within closed farm systems are expected to boost the product demand during the forecast period.

Europe had the second-largest consumer base as it is one of the prominent producers of salmon. Salmon is extensively farmed in almost all European countries, majorly in coastal areas with a temperate climate, which is expected to have a positive influence on market growth during the forecast period. Rising demand for salmon in the interior regions has led to the growth in demand for anaesthetics and sedation materials during transportation, thereby driving the demand for aquafeed.

The aquafeed sector in Central and South America is spread across Brazil, Mexico, Chile, and Ecuador., these countries accounted for over 80% of the regional aquafeed production. The aquafeed industry in the region attributes to food security, employment, and revenue generation.

Market Segmentation by Regions:

North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Point Summary of the Report:

The global Aquafeed market research report is an investigative study offering key insights into the latest growth trends, developments, technological and product advancements, and the research and development scenario. The report also covers the market aspects that directly influence the growth of the market. These features include strategies undertaken by the prominent players, their expansion tactics, and the product portfolios of the companies, and micro and macro-economic factors.

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Key Coverage of the Aquafeed Market:

- Insightful information regarding the global Aquafeed market
- Identification of growth in various segments and sub-segments of the Aquafeed market
- Strategic recommendations for investment opportunities
- The report covers significant statistics related to the industry along with products, applications, price analysis, demand & supply, and production and consumptions rate
- Emerging trends and current market segment analysis to help investors formulate new business strategies
- Accelerates the decision-making process through the availability of the drivers and limitations

Global Aquafeed Market: Table of Contents

Chapter 1. Market Synopsis

    1.1. Market Definition

    1.2. Research Scope & Premise

    1.3. Methodology

    1.4. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2018-2026

Chapter 3. Indicative Metrics

Chapter 4. Aquafeed Market Segmentation & Impact Analysis

Continued……….

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