The global aquafeed market size was valued at USD 50.7 billion in 2021 and is projected to reach USD 71.7 billion by 2028, recording a CAGR of 7.4% during the forecast period 2022-2028.Aquaculture feed is defined as a professionally made food that meets the nutritional needs of aquatic animals. Plants, marine animals, grain products, terrestrial-based live feeds, vegetable protein, and fish oil are among the primary ingredients and additives used. The feed provides a well-balanced diet, which is critical for raising healthy fish. It's also high in nutrients including protein, minerals, vitamins, carbs, and lipids, which aid in aquatic animals' growth and reproduction. Aquaculture is also projected to play a significant role in the aquaculture feed industry.

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Fast expansion in the aquaculture industry is propelling the global aquafeed market forward. The fish is low in fat and high in source of vitamins and minerals. Because of its simple availability and rising customer preference, fish consumption is on the rise. Furthermore, the worldwide aquafeed industry is expanding due to an increase in seafood commerce. However, various constraints are inhibiting the worldwide aquafeed market's expansion. Raw material prices are always fluctuating, which may have a detrimental impact on the worldwide aquafeed market's growth. Concerns about the environment and human health are also impeding the global market's expansion.

The global aquafeed market segmentation:

1) By Product Type: Non-Medicated Feed Soybean, Fish meal, Corn, Fish oil, Others.

2) By Medicated Feed: Vitamins, Amino acids, Antibiotics, Antioxidants, Feed enzymes, Others.

3) By On The Species: Fish, Molluscs, Crustaceans, Others.

As one of the leading producers of salmon, Europe emerged as the second-largest consumer. Salmon farming is becoming more popular in practically every European country, particularly in coastal locations with a temperate environment, which is expected to boost market growth over the projection period. The demand for anaesthetics and sedative agents during transportation has increased as the demand for salmon has increased in the interior regions, raising the demand for additives. Asia Pacific dominated the market in 2019, accounting for over 42.0 percent of worldwide revenue, and is likely to continue to do so over the forecast period. Over the projection period, product demand is expected to be driven by aquaculture output in the region, particularly in China, as well as factors such as ease of fish farming, species durability, and improved water quality inside closed farm systems.

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Some of the major key players in the Aquafeed Market are Alltech (U.S.) Biomar (Denmark) Avanti Feeds Ltd. (India) Aller Aqua A/S (Denmark) Tongwei Co. Ltd (China) Zhuhai Shihai Feed Co. Ltd (China) Nutreco N. V (Netherlands) Terravia Holdings Inc. (U.S.) Bunge Ltd. (U.S.) Archer Daniels Midland Company (U.S.)

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