Fish feed is important in aquaculture production as it provides necessary nutrients to farmed fish and helps accelerate their growth. Sinking fish feeds are pelleted aquafeeds that readily sink through water and do not float on the surface. These feeds are manufactured using various ingredients including fishmeal, soybean meal, wheat, corn gluten meal, vitamins and minerals. Sinking fish feeds play a vital role in establishing sustainable and productive aquaculture by meeting the nutritional requirements of fish.

The global sinking fish feed market is estimated to be valued at US$ 10.76 Bn in 2023 and is expected to exhibit a CAGR of 9.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
Increasing aquaculture production owing to rising global seafood demand is a major driver fueling growth of the sinking fish feed market. Aquaculture currently accounts for over 50% of seafood for human consumption globally and its contribution is growing steadily. Sinking fish feeds are highly beneficial for aquaculture farmers as they settle quickly to the pond or cage bottom, making them easily accessible for bottom-feeding fish species. This ensures optimal fish growth and health. Additionally, advances in formulation and ingredient selection have further augmented nutritional profile and sinking properties of these feeds. Leading manufacturers are engaged in new product launches to cater to evolving industry requirements. For instance, in 2022, Novus International launched Novacq Grower BF500, a high-performance sinking fish feed for bottom feeder species cultivated in cages and ponds.

SWOT Analysis

Strength: The sinking fish feed market has witnessed strong growth owing to rising fish farming and aquaculture. Fish farming is a sustainable source of protein and helps meet the increasing global demand for seafood. Sinking fish feed products offer precise nutrition to farmed fish and help boost yields. Additionally, new product launches catering to specific fish species have increased market opportunities.

Weakness: Fluctuations in fish feed raw material prices including soy, wheat, corn, and fishmeal impact the operational costs of fish feed manufacturers. Additionally, stringent regulations regarding the use of antibiotics and growth promoters in aquaculture pose challenges.

Opportunity: Growing focus on R&D to develop new formulations suitable for various climatic conditions and fish species present opportunities for market expansion. Furthermore, the rising popularity of high nutritious and medicated fish feed offers scope for value-added product development.

Threats: Diseases outbreaks in fish farms and ban on certain fish feed ingredients in major importing countries pose threats. Additionally, the availability of cheaper substitutes and expiration of patents of major products pose challenges.

Key Takeaways

The Global Sinking Fish Feed Market Size  is expected to witness high growth. The Asia Pacific region presently dominates the market and is expected to maintain its leading position during the forecast period as well. China, Indonesia, Vietnam, India, and Bangladesh contribute significantly to the global fish production and drive the demand for sinking fish feed in the region.

Key players operating in the sinking fish feed market are Medtronic, Dexcom, Inc., Abbott, Novo Nordisk A/S, Ypsomed, GlySens Incorporated, and F. Hoffmann-La Roche Ltd., among others. Innovation and new product development remain key strategies adopted by the major players to gain a competitive edge in the market. For instance, manufacturers are developing tailor-made fish feed formulations for specific fish species, life stages, and climatic conditions.

The global sinking fish feed market is a fairly consolidated landscape with the top five players accounting for over 60% of the overall market share. The market demonstrates a steady growth owing to rising aquaculture production to meet the demand for seafood worldwide. However, fluctuations in raw material prices and stringent regulations continue to pose challenges. Ongoing R&D focusing on developing high-quality and cost-effective solutions is expected to drive the market growth over the forecast period.

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