Aquafeed Market
Fish and molluscs end use segments together dominated the aquafeed market, and are estimated to grow with the CAGRs of 13.3% and 13.4%, respectively. Around half of the fish feed was consumed by carps and salmon collectively in 2015. The increasing per capita consumption of fish is expected to continue during the forecast period, owing to surging demand for seafood and protein rich diets, fuelling growth for the aquafeed market for fish.
Fish and molluscs end use segments together dominated the aquafeed market, and are estimated to grow with the CAGRs of 13.3% and 13.4%, respectively. Around half of the fish feed was consumed by carps and salmon collectively in 2015. The increasing per capita consumption of fish is expected to continue during the forecast period, owing to surging demand for seafood and protein rich diets, fuelling growth for the aquafeed market for fish.
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<strong>Aquafeed</strong> <strong>Market</strong><br />
Opportunity Analysis and Industry Forecast, 2016-2023<br />
Global Opportunity Analysis and<br />
Industry Forecast,<br />
2015-2022
Introduction<br />
• Global aquafeed market is expected to reach $156 billion by 2022,<br />
supported by a CAGR of 13.3% during the forecast period 2016 to 2022.<br />
• <strong>Aquafeed</strong> has become crucial to aquaculture industry due to its nutritional,<br />
immune resistant, and growth promoting properties.<br />
• Increasing global seafood consumption and growing consumer awareness<br />
on quality of seafood products are boosting the aquafeed market growth.<br />
• The Asia-Pacific offers the highest market growth.
Key Factors of the <strong>Market</strong><br />
• Increasing global seafood consumption and growing consumer awareness<br />
on quality of seafood products are boosting the aquafeed market<br />
growth.<br />
• Rising per capita income, especially from developing nations, is expected<br />
to maintain the growth of aquaculture and aquafeed industry.<br />
• With rise in aquaculture to sustain the demand for seafood for the<br />
growing population, the aquafeed industry is also rising.<br />
• Amino acids are the main components of protein, since animals require<br />
continuous supply of protein in their diet; it is considered as essential<br />
component of aquafeed.
<strong>Aquafeed</strong> <strong>Market</strong><br />
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<strong>Market</strong> Segmentation<br />
By End Use<br />
• Fish<br />
• Mollusks<br />
• Crustaceans<br />
By Additives<br />
• Vitamins<br />
• Minerals<br />
• Antioxidants<br />
• Amino Acids<br />
• Enzymes<br />
• Acidifiers<br />
• Binders
Key Findings<br />
• Crustaceans is projected to be the fastest growing segment in global<br />
aquafeed market registering a CAGR of 13.7% (value terms) during 2016<br />
and 2022.<br />
• Amino acid is projected to be the fastest growing additive segment in<br />
aquafeed additives market registering a CAGR of 7.9%.<br />
• Carps held 39.9% market share in the fish segment in 2015, in terms of<br />
volume.<br />
• Asia-Pacific is projected to occupy the highest market share with a CAGR of<br />
13.1%.<br />
• China would continue to lead the aquafeed market at a CAGR of 12.3%.<br />
• Brazil held more than half of the market share in the LAMEA region in<br />
2015, whereas South Africa intends to grow at a CAGR of 14.1% during the<br />
period under consideration.
Key Players<br />
• AllerAqua A/S<br />
• Cargill, Inc.<br />
• Beneo GmbH<br />
• Biomar A/S<br />
• Avanti Feeds Ltd<br />
• Alltech Inc.<br />
• Biomin GmbH<br />
• Charoen Pokphand Foods Public Company Limited<br />
• Nutreco N.V. and<br />
• Coppens International B.V.<br />
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