Global Aquafeed Market Analysis
Global aquafeed market size is estimated to be valued at USD 61 billion in 2017 and is expected to grow at double digit rate till 2022 before slowing it down to single digit growth. In terms of volume, the industry is set to be near around 39 million tonnes in 2017. The industry is highly fragmented with many active players operational not only in region but also at country level. Much of the aquafeed products demand is met domestically and trade has been flowed at marginal level. As such, industry players need to focus heavily on domestic level and strengthen their marketing channels to penetrate in other regions.

Aqua feed is administered to aquatic species externally in the form of pellets and has a huge demand globally by the aqua culture industry. The expanding aquafeed market is accompanied by a significant growing Pisciculture market opportunities as aquafeed has become necessary to aqua culture industry due to its nutritional, immune resistant, and growth promoting properties. High quality aquafeed is exponentially more beneficial to fish, mollusks, crustaceans & other aquatic animals than farm-made feed due to their balanced and need specific composition.

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Global Aquafeed Market Drivers and Challenges

The demand for all kinds of aquaculture products have been significantly increasing. Aquafeed market revenue is expected to be driven by various factors. Some key macroeconomic factors expected to boost the sales of the aquafeed product include increase in marine and terrestrial land growth due to significant breakthroughs in agricultural practices, increasing global population which has increased consumption demand of fish related products and Better arable land. 

Importantly, the industry is expected to be further driven by Rural population in major part of Asia continent where people rely on fisheries as a means of livelihood. A focus on increased production as it is high in nutrients and also quite affordable along with large sales channel presence could be expected to create market opportunity for industry players. The science of breeding and growing aquatic products in supervised and controlled environment has also gained huge attention and is expected to create huge opportunity for market players. Although , in the long term increasing raw material costs may act as restriction for the market growth as majority of high quality feed is prepared by fish meal and fish oil.

 

Talking about the end-users, the global aqua feed market trend has been categorized into fishes (carp, salmon, tilapia catfish), mollusks (oysters and mussels) and crustaceans (crab and shrimps). Vitamins, Minerals, Antioxidants, Amino Acids, Enzymes, Acidifiers, and Binders are used to segment the market for aquafeed based on additives used to prepare it. The demand for amino acids is increasing because of its extensive application in aquafeed additives. Amino acids are the main components of protein and since animals require continuous supply of protein in their diet hence it is considered as essential component of aquafeed.

 

Global Aquafeed Market Regional Analysis

The global aquafeed market is segmented into North America, Western Europe, Central and Eastern Europe, Asia-Pacific, Latin America, Middle East and Africa. Asia-Pacific is expected to provide lucrative growth opportunities until 2022, owing to considerable increase in aquaculture production and increasing global seafood consumption.

Europe will dominate the market throughout the forecast period. However, will lose significant basis points over the forecast period. In the year 2015, Norway was estimated to value for the highest market share with around one fourth of the total European aquafeed market, due high demand for salmon fish feed.

The Market in Middle East region will hold great potential for aquaculture as most of the big feed manufacturing firms are establishing their aquafeed plants in Egypt owing to the availability of cheap labour and untapped nature of the market which has a great potential for being exploited under first mover’s advantage.

 

Global Aquafeed Market Competition Scenario

The major stake holders in this aquafeed market scenario include Aquafeed manufacturers, traders, distributors, and suppliers, Feed additive manufacturers, Government and research organization , Associations and industry bodies and Agricultural universities .The demands are catered by major competitors that are fragmented in nature. Private players like  Alltech Inc., Aller Aqua, Beneo, Norel Animal Nutrition, Cargill Incorporated, Avanti Feeds Ltd., BioMar A/S, Cermaq ASA, Dibaq Aquaculture, Charoen Pokphand Foods Company Ltd., NK Ingredients Pte Ltd., Nutriad, Nutreco N.V., Tongwei, and Ridley Aqua-Feed have made heavy investment in the aquafeed industry. Companies are adopting inorganic growth strategy to increase their market share. For instance, Nutreco N.V. has entered in many acquisition and joint venture as key strategies for market growth, whereas AllerAqua A/S expanded into emerging economies for increasing its geographic reach.

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