Floating fish feed is compact and floats on the water surface, making it easily accessible for fish to feed. Fish farming equipment manufacturers enrich floating fish feed granules with important nutrients that boost fish growth. Made from fishmeal, wheat flour, soybean meal, corn and other ingredients, floating fish feed is ideal for farmed species like tilapia, salmon and trout. It promotes optimum fish health and production yields for aquaculture facilities. The global floating fish feed market is estimated to be valued at US$ 9.95 billion in 2023 and is expected to exhibit a CAGR of 34% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Aquaculture is one of the world's fastest growing food production sectors, helping meet demand for seafood as wild fisheries face depletion. Fish farming operations spanning ocean pens and inland tanks require specialized floating feeds to sustain aquatic livestock in a variable natural environment. Floating fish feed sustains global fish farming output that exceeded 80 million tons in recent years. Advances in feed formulation optimizes the nutrient profile in floating fish feed for different species growth phases. These scientific feeding strategies boost production efficiency and sustainability of the aquaculture sector.

Market Dynamics:
Rising aquaculture industry is the primary driver propelling the floating fish feed market growth. Global per capita seafood consumption is projected to increase from 20.3 kg in 2020 to 22.0 kg in 2030, according to the UN Food & Agriculture Organization (FAO). This growing demand will boost fish farming activities and associated floating fish feed demand substantially. The floating characteristic of specialized fish feed optimized nutrition delivery and allowed fish to feed more efficiently. Additionally, floating fish feed manufacturers are leveraging innovative mechanisms to prevent feed wastage, enhance feed intake and achieve optimal fish production yields for aquafarmers. However, fluctuations in prices of key floating fish feed ingredient goods and uncertainty around fishmeal supply due to climate change could hamper market growth over the forecast period.

SWOT Analysis
Strength: Floating fish feed provides balanced nutrition to aquatic animals through sinking and floating pellets. The balanced nutrition promotes growth and health of fish. Formulated floating fish feed contains all essential nutrients required by fish. Better control over the quality and consistency of ingredients used makes floating fish feed safe and effective for fish farming.
Weakness: Manufacturing floating fish feed requires sophisticated machinery and technical expertise. Small farmers may find it difficult to invest in required infrastructure. Frequent changes in regulations regarding the usage of certain ingredients may increase production costs.
Opportunity: Growth in aquaculture industry worldwide is driving the demand for high-quality fish feed. Adoption of advanced fish farming practices and technologies is increasing in developing nations to boost fish production. Development of organic and customized floating fish feeds catering to specific fish species can tap new market opportunities.
Threats: Fluctuations in raw material prices impact the manufacturing cost of floating fish feed. Outbreaks of diseases in farmed fish pose risks to the aquaculture industry. Environmental concerns regarding pollution from fish waste may lead to stricter regulations.

Key Takeaways
The Global Floating Fish Feed Market Share is expected to witness high growth over the forecast period of 2023 to 2030 driven by rising demand for aquacultured seafood. The market size for floating fish feed is projected to reach US$ 9.95 billion by 2024.

Regional analysis
The Asia Pacific region currently dominates the floating fish feed market and is expected to maintain its leading position over the next few years. China, India, Vietnam, Indonesia, and Bangladesh are major consumers as well as producers of aquacultured seafood in the region. Supportive government policies and growing aquaculture industry in emerging Asian nations will propel the adoption of floating fish feed in the region.

Key players
Key players operating in the floating fish feed market are Cargill, Nutreco, Ridley Corporation, Aller Aqua, Purina Animal Nutrition, Alltech, BioMar Group, and DE HEUS. Cargill is one of the largest manufacturers of aquafeed globally with operations across Asia Pacific, Americas, and Europe.

For more insights, Read- https://www.ukwebwire.com/floating-fish-feed-market-demand-share-analysis/