According to a new market report published by Lucintel, the future growth of the aquafeed market looks promising with opportunities in the aquaculture industry. The global aquafeed market is expected to grow with a CAGR of 3% - 5% from 2020 to 2025. The major drivers for this market are rising demand for seafood, rising population, and development in production techniques.
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Aquafeeds are compounded meals prepared for aquatic animals by mixing various raw materials and additives. In this market, fish meal, fish oil, soybean meal, corn meal, and vegetables are the major ingredients used for manufacturing of aquafeed. Lucintel forecasts that soyabean meal based aquafeed will remain the largest ingredient segment over the forecast period as it is a rich source of protein and cheaper as compared to fish meal.
Within this market, aquafeed for fish will remain the largest segment by species over the forecast period due to increasing demand for protein rich healthy food products and rising income level.
Asia-Pacific will remain the largest region and it is also expected to witness the highest growth over the forecast period due to rising disposable incomes, rising aquaculture production, and various government initiatives to increase production of certified sustainable seafood is further accelerating the requirement of aquafeed in the region.
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing use of soy protein growing adoption of nutritious-system feeding concept and introduction of advanced process technologies for micro feed production. Nutreco, N.V., Cargill, Inc., BioMar Group, Archer Daniel Midland Company, and Alltech Inc. are among the major suppliers in the global aquafeed market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global aquafeed market by product form, ingredient, species, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Aquafeed Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global aquafeed market by product form, ingredient, species, and region as follows:
By Product Form [Value ($ Million) and Volume (Thousand Tons) shipment analysis for 2014 – 2025]:
Pellet Form
Extruded Form
Powdered Form
Liquid Form
By Ingredient [Value ($ Million) shipment analysis for 2014 – 2025]:
Fish Meal
Fish Oil
Soybean Meal
Corn Meal
Vegetable Oil
Sources of Carbohydrates and Binders
Additives
Vitamins
Antibiotics
Antioxidants
Amino Acids
Feed Enzymes
Feed Acidifiers
Others
By Species [Value ($ Million) shipment analysis for 2014 – 2025]:
Fish
Crustaceans
Mollusks
By Region [Value ($ Million) and Volume (Thousand Tons) shipment analysis for 2014 – 2025]:
United States
Canada
Mexico
Norway
Spain
Germany
France
China
India
Vietnam
Indonesia
This 242-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
About Lucintel
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