Get more insights on Sinking Fish Feed Market
Sinking Fish Feed Market is Estimated to Witness High Growth Owing to Rising Aquaculture
The sinking fish feed market comprises floating fish feed which provides essential nutrients to farmed fish and help improve growth and survival rates. Advantages of sinking fish feed include high digestibility that prevents feed wastage. Growing aquaculture output has increased the demand for high-quality fish feed to meet the protein requirements.
The Global sinking fish feed market is estimated to be valued at US$ 12.4 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the sinking fish feed market are Admera Health, Abbott Laboratories, Agilent Technologies, Novartis AG, Dynamic DNA Laboratories, Empire Genomics, LLC., F. Hoffmann-La Roche Ltd., Illumina, Inc., OneOme, LLC, Myriad Genetics Inc., OPKO Health, Inc. (GeneDx.), Thermo Fisher Scientific, Inc., and AltheaDx. The key players are focusing on product launches and partnerships to expand their market share.
The increasing demand for protein-rich food sources represents a huge opportunity for sinking fish feed producers to cater to the growing aquaculture industry. Further, technological advancements in feed formulations help address various health issues and improve production efficiency.
The global expansion of the aquaculture industry especially in Asia Pacific has augmented the demand for high-quality sinking fish feed. Countries like China, India, Vietnam, Bangladesh, and Indonesia are major contributors driving the rising fish consumption worldwide.
Market drivers
The primary driver boosting the Global Sinking Fish Feed Market Growth is the rising aquaculture production globally. Aquaculture is one of the fastest-growing food-producing sectors and accounts for over 50% of all fish consumed by humans. Sinking fish feed simplifies feeding management and ensures proper nutrition intake by farmed fish. This translates to higher weight gain and survival rates, thereby favoring the market growth over the forecast period.
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