Aquafeed Market Overview:

The global aquafeed market is poised for significant revenue growth in the coming years, fueled by the rising demand for aquatic proteins, a substantial increase in seafood trade, and the expansion of aquaculture production. Market Research Future (MRFR) estimates that the global aquafeed market will reach USD 87 billion by 2030, with a compound annual growth rate (CAGR) of 6.80% during the assessment period from 2020 to 2030.

The surge in demand for seafood and its widespread consumption, driven by the growing need for protein-rich diets, is a key factor contributing to the robust revenues in the aquafeed market. Additionally, favorable government regulations supporting aquaculture further bolster the market share. Continuous advancements in technologies and strategies aimed at enhancing the quality of aquaculture are anticipated to positively impact the revenues of the aquafeed market.

Aquafeed plays a pivotal role in enhancing the health of freshwater fish, particularly in the context of freshwater aquaculture, which involves the controlled and sustainable cultivation of fish, crustaceans, mollusks, aquatic plants, algae, and other aquatic animals. The aquafeed market is undergoing rapid transformations, with fish farmers increasingly adopting sustainable aquaculture practices. As awareness of the environmental impact of aquaculture grows, it is gaining prominence as an efficient method to meet the global demand for fish. This trend is driving the adoption of modern technologies, such as aquaponics and integrated multi-trophic aquaculture.

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Several key trends contribute to the growth of the aquafeed market, including the increased consumption of seafood in various regions and the rising global demand for animal proteins. To gain insights into these trends, industry stakeholders can access a sample premium report here.

The market is segmented based on aquatic species, ingredients, additives, and regions. In terms of aquatic species, the segmentation includes carps, mollusks, shrimps, crustaceans, catfish, trouts, and others. The ingredient segment comprises wheat, corn, pulses, oilseeds, and others like DDGS, barley, poultry by-product meal, and blood meal. Additives are categorized into antibiotics, antioxidants, vitamins & minerals, amino acids, enzymes, probiotics & prebiotics, and others such as acidifiers, mycotoxin binders, phosphates, and carotenoids. Geographically, the aquafeed market is divided into the Americas, Asia-Pacific, MEA, Europe, and the rest of the world.

Europe stands out as the dominant player in the global aquafeed market, attributed to the growing seafood culture, high demand for seafood, and a preference for high-quality seafood among consumers. The region also benefits from the strong presence of numerous aquafeed manufacturers and suppliers, along with large-scale developments in fish food products and the availability and sales of a diverse range of aquafeeds.

The competitive landscape of the aquafeed market is characterized by intense rivalry, with major players holding substantial market shares. To maintain a competitive edge, these companies engage in mergers and acquisitions, joint ventures and collaborations, product innovations, and technological advancements.

Key players in the aquafeed market include BioMar Group (Denmark), Cargill Inc. (U.S.), Waterbase Ltd. (India), Alltech Inc. (U.S.), BASF (Germany), Coppen International BV (Netherlands), Zeigler bros. Inc. (U.S.), Ridley Corporation (Australia), Marvesa (Netherlands), and Evonik Industries (Germany), among others. Their strategic focus on innovation and collaboration underscores the dynamic and competitive nature of the aquafeed market.

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Industry/ Innovation/ Related News:

July 11, 2023 – Houdek (formerly Prairie Aquatech) announced that it is working on improving the digestibility and sustainability of soybean meal to support the aquafeed industry's limited supply of fishmeal. Houdek's new fermentation technique will open up fresh prospects for soy and distiller grains in aquafeeds. The company has developed a patented fermentation process using a food-grade microbe that can reduce anti-nutritional factors and increase the availability of nitrogen & phosphorus in soybean meal to make a protein-rich feed ingredient called ME-PRO.

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