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Aquafeed Market

Aquafeed Market Forecasts to 2028 – Global Analysis By Feed Type (Brooder, Finisher, Grower), Function (Digestion, Health, Palatability), Ingredient (Carotenoid, Corn, Fish Oil) and By Geography

5.0 (35 reviews)
Published: April 2022 ID: SMRC21376
5.0 (35 reviews)
Published: April 2022 ID: SMRC21376

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Aquafeed Market is accounted for $59.93 billion in 2021 and is expected to reach $100.02 billion by 2028 growing at a CAGR of 7.6% during the forecast period. Aquafeed is a mixture of raw materials, additives, and other supplements, sourced from either natural or synthetic sources and is fed to farmed fish. Soybean meal, fishmeal, fish oil, and carp are the most commonly used raw materials.

Market Dynamics:

Driver:

Growing Contagious Diseases in Aquatic Animals


Contagious diseases pose hazards to the aquaculture industry and can cause significant stock loss and problems.  Shrimps and finfishes have detected problems, such as bacterial diseases, growing the use of antimicrobials for treatment. Antibiotics are chemotherapeutic agents used in the clinical management of infectious diseases in humans and animals. They inhibit the growth and metabolism of microorganisms that harm animal health. Furthermore, antibiotics promote all-round growth, providing better health in crowded conditions. The excessive use of antibiotics may create antibodies for the species to treat medical conditions. The development of drug-resistant bacteria in shrimps, fishes, and prawns has led to the formulation of regulations by countries to limit the use of antibiotics in feed and additives. Innovations in medical technology have led to the development of alternative plant-based antibiotics.

Restraint:

High Cost


High price instability related to the raw materials used in the feed preparation can hamper the market's growth. For instance, a significant rise in the price of soybean, corn, or other raw materials can directly impact the product's final price, which may restrict product sales. Besides, a growing number of people opting for vegetarian diets and excluding non-vegetarian food is anticipated to reduce the demand for fish, which can negatively affect the market.

Opportunity:

Growing Investments in R&D Activities


The growing investments by market players and associations in the research and development of innovative products are expected to positively impact the market’s growth. For instance, Milkfish Aquafeeds Research, Development, and Extension Project (RDEP) were launched in Guiuan. This new project aims to develop substitutes for fish feed ingredients for fighting the existing high costs of feeds in the market. A new substitute comprises the use of plant-based proteins as a key ingredient for fish feed. The companies are embarking on mergers and acquisitions to diversify their product portfolio and consumer offerings. For instance, The Washington-based feed and ingredient company, Wilbur-Ellis, announced the acquisition of Renger Inc., a U.S.- based producer and distributor of feed. This acquisition is predicted to help Wilbur-Ellis to strengthen its footprint in this market.

Threat:

Limitations on Fish Catches Affecting Fish Meal Productio
n

Several countries' government has decided to levy limitations on fishing to elude disturbances caused by trawlers during the breeding season, the fishermen have been instructed not to venture into the sea during the ban period. The ban aims at conserving fish species during monsoon which is the spawning season for many varieties of fish, including shrimp. Hence this limitation is one of the factors that threaten the market growth.

Fish segment is expected to be the largest during the forecast period

Fish has low-fat content as related to other forms of meat, such as cattle and poultry. Furthermore, fish is a rich source of proteins and vitamins; hence it is mainly used for direct human consumption. Fish consumption has observed an increase on account of several factors, such as increasing availability of a variety of fishes in the retail market and consumers’ preference for a variety of flavors. These factors have resulted in a boost in the demand for fish and fish products, which, in turn, is projected to drive the industry.

The Dry form segment is expected to have the highest CAGR during the forecast period

Dry form feed is relatively easy to manufacture, store, and transport. One of the advantages of such a type of feed is that it can be produced in a variety of sizes to suit specific needs. A variety of feed sizes and the production of specialized feed with such form are projected to fuel the segment growth over the forecast period.

Region with highest share:

The Asia Pacific is projected to hold the highest market share, owing to significant growth in the aquaculture industry. Fish intake in Asian countries has been motivated by a combination of a large, growing, and increasingly urban population. Asian countries would account for 70% of global fish consumption. China is one of the rapidly developing economies which is anticipated to provide 38% of the global seafood. China and other Asian countries are investing in huge to develop the aquaculture industry. Aquaculture production in the region, predominantly in China, as well as factors such as the ease of fish farming, durability of species, and better water quality within closed farm systems are projected to drive the product demand over the forecast period.

Region with highest CAGR:

Europe is projected to have the highest CAGR; the growth of the Europe Aqua feed market is majorly driven by factors such as rising consumer awareness regarding the protein content in the fish food and limited availability of marine feed resources. With the latest technologies that focus on improving the quality of the feed, there is a constantly increasing demand for them.

Key players in the market:

Some of the key players profiled in the Aquafeed Market include Addcon Group GmbH, Aller Aqua A/S, Alltech Inc., Archer Daniel Midland (ADM), Avanti Feeds Ltd., Beneo GmbH, Biomar A/S, Biomin Holding GmBH, Cargill Inc., Cermaq ASA, De Heus, Dibaq a.s., Evonik Industries, InVivo NSA, NK Ingredients Pte Ltd., Norel Animal Nutrition, Novus International Inc., Nutriad International, Ridley Corporation, Skretting.

Key developments:

In June 2021: BioMar launched a new RAS feed, Larviva Orbit, to improve the efficiency of marine nurseries. The new feed comes with optimized recipes, an improved physical pellet quality, and a proven impact on faeces stability and reduction of small solids, specifically for RAS.

In September 2021: Cargill announced a multi-year agreement with The Conservation Fund’s Freshwater Institute to develop, evaluate and enhance feeds for the land-based aquaculture industry. The Institute provides Cargill nutritionists and researchers experienced in recirculating aquaculture systems. The partnership will improve land-based aquaculture's environmental and economic performance through feeds developed and tested specifically for recirculating aquaculture systems.

In January 2019: ADM acquired Neovia (formerly known as InVivo NSA) (France) for USD 1.82 billion (Euro 1.54 billion). This acquisition would create a premier global leader in animal nutrition, while simultaneously providing a strong platform for future growth.

In June 2017: Nutreco acquired Hi-Pro Feeds LP (Canada). The acquired entity would trade under its global brand, Trouw Nutrition. Hi-Pro Feeds manufactures and distributes high performance animal feed in North America. The company network comprises of 15 individual feed mills with operations spanning three states in the U.S. Southwest and western Canada serving over 5,000 customers.

Feed Types Covered: 
• Brooder
• Finisher
• Grower
• Starter 

Functions Covered:
• Digestion
• Health
• Palatability
• Special Nutrition 

Ingredient’s Covered:
• Carotenoid
• Corn
• Fish Oil
• Fishmeal
• Grain By-product
• Land Animal
• Nutrients
• Oils & Fats
• Soybean
     
Additives Covered:
• Acidifiers
• Amino Acids
• Antibiotics
• Antioxidants
• Anti-parasitics
• Binders
• Enzymes
• Feed Acidifiers
• Mycotoxin Binders
• Phylogenetic
• Prebiotics & Probiotics
• Vitamins & Minerals
• Other Additives

Species Covered:
• Carps
• Catfishes
• Freshwater Crustaceans
• Grouper
• Marine Fishes
• Marine Shrimps
• Other
• Rainbow Trout
• Salmons
• Sea Bass
• Tilapias
• Trout

Sales Channels Covered:
• Direct Sales
• Hypermarket
• Indirect Sales
• Online
• Speciality Stores
• Supermarket
• Wholesalers

Forms Covered:
• Dry
• Wet
• Moist

End Users Covered:
• Crustaceans
•  Fish
• Mollusks

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

1 Executive Summary   
    
2 Preface   

 2.1 Abstract  
 2.2 Stake Holders  
 2.3 Research Scope  
 2.4 Research Methodology  
  2.4.1 Data Mining 
  2.4.2 Data Analysis 
  2.4.3 Data Validation 
  2.4.4 Research Approach 
 2.5 Research Sources  
  2.5.1 Primary Research Sources 
  2.5.2 Secondary Research Sources 
  2.5.3 Assumptions 
    
3 Market Trend Analysis   

 3.1 Introduction  
 3.2 Drivers  
 3.3 Restraints  
 3.4 Opportunities  
 3.5 Threats  
 3.6 End User Analysis  
 3.7 Emerging Markets  
 3.8 Impact of Covid-19  
    
4 Porters Five Force Analysis   

 4.1 Bargaining power of suppliers  
 4.2 Bargaining power of buyers  
 4.3 Threat of substitutes  
 4.4 Threat of new entrants  
 4.5 Competitive rivalry  
    
5 Global Aquafeed Market, By Feed Type   
 5.1 Introduction  
 5.2 Brooder  
 5.3 Finisher  
 5.4 Grower  
 5.5 Starter  
    
6 Global Aquafeed Market, By Function   

 6.1 Introduction  
 6.2 Digestion  
 6.3 Health  
 6.4 Palatability  
 6.5 Special Nutrition  
    
7 Global Aquafeed Market, By Ingredient   

 7.1 Introduction  
 7.2 Carotenoid  
 7.3 Corn  
 7.4 Fish Oil  
 7.5 Fishmeal  
 7.6 Grain By-product  
 7.7 Land Animal  
 7.8 Nutrients  
 7.9 Oils & Fats  
 7.10 Soybean      
    
8 Global Aquafeed Market, By Additives   
 8.1 Introduction  
 8.2 Acidifiers  
 8.3 Amino Acids  
 8.4 Antibiotics  
 8.5 Antioxidants  
 8.6 Anti-parasitics  
 8.7 Binders  
 8.8 Enzymes  
 8.9 Feed Acidifiers  
 8.10 Mycotoxin Binders  
 8.11 Phylogenetic  
 8.12 Prebiotics & Probiotics  
 8.13 Vitamins & Minerals  
 8.14 Other Additives  
  8.14.1 Acidifiers 
  8.14.2 Carotenoids 
  8.14.3 Mycotoxin Binders 
  8.14.4 Phosphates 
    
9 Global Aquafeed Market, By Species    
 9.1 Introduction  
 9.2 Carps  
 9.3 Catfishes  
 9.4 Freshwater Crustaceans  
 9.5 Grouper  
 9.6 Marine Fishes  
 9.7 Marine Shrimps  
 9.8 Other  
 9.9 Rainbow Trout  
 9.10 Salmons  
 9.11 Sea Bass  
 9.12 Tilapias  
 9.13 Trout  
    
10 Global Aquafeed Market, By Sales Channel   
 10.1 Introduction  
 10.2 Direct Sales  
 10.3 Hypermarket  
 10.4 Indirect Sales  
 10.5 Online  
 10.6 Speciality Stores  
 10.7 Supermarket  
 10.8 Wholesalers  
    
11 Global Aquafeed Market, By Form   
 11.1 Introduction  
 11.2 Dry   
  11.2.1 Pellets 
  11.2.2 Powdered 
   11.2.2.1 Floating Pellets
   11.2.2.2 Sinking Pellets
  11.2.3 Crumbles 
 11.3 Wet  
 11.4 Moist  
    
12 Global Aquafeed Market, By End User   
 12.1 Introduction  
 12.2 Crustaceans  
  12.2.1 Shrimp 
  12.2.2 Crab 
 12.3  Fish  
  12.3.1 Salmon 
  12.3.2 Cat Fish 
 12.4  Mollusks  
  12.4.1 Oyster 
  12.4.2 Mussel 
    
13 Global Aquafeed Market, By Geography   
 13.1 Introduction  
 13.2 North America  
  13.2.1 US 
  13.2.2 Canada 
  13.2.3 Mexico 
 13.3 Europe  
  13.3.1 Germany 
  13.3.2 UK 
  13.3.3 Italy 
  13.3.4 France 
  13.3.5 Spain 
  13.3.6 Rest of Europe 
 13.4 Asia Pacific  
  13.4.1 Japan 
  13.4.2 China 
  13.4.3 India 
  13.4.4 Australia 
  13.4.5 New Zealand 
  13.4.6 South Korea 
  13.4.7 Rest of Asia Pacific 
 13.5 South America  
  13.5.1 Argentina 
  13.5.2 Brazil 
  13.5.3 Chile 
  13.5.4 Rest of South America 
 13.6 Middle East & Africa  
  13.6.1 Saudi Arabia 
  13.6.2 UAE 
  13.6.3 Qatar 
  13.6.4 South Africa 
  13.6.5 Rest of Middle East & Africa 
    
14 Key Developments   
 14.1 Agreements, Partnerships, Collaborations and Joint Ventures  
 14.2 Acquisitions & Mergers  
 14.3 New Product Launch  
 14.4 Expansions  
 14.5 Other Key Strategies  
    
15 Company Profiling   
 15.1 Addcon Group GmbH  
 15.2 Aller Aqua A/S  
 15.3 Alltech Inc.  
 15.4 Archer Daniel Midland (ADM)  
 15.5 Avanti Feeds Ltd.  
 15.6 Beneo GmbH  
 15.7 Biomar A/S  
 15.8 Biomin Holding GmBH  
 15.9 Cargill Inc.  
 15.10 Cermaq ASA  
 15.11 De Heus  
 15.12 Dibaq a.s.  
 15.13 Evonik Industries  
 15.14 InVivo NSA  
 15.15 NK Ingredients Pte Ltd.  
 15.16 Norel Animal Nutrition  
 15.17 Novus International Inc.  
 15.18 Nutriad International  
 15.19 Ridley Corporation  
 15.20 Skretting  


List of Tables    
1 Global Aquafeed Market Outlook, By Region (2020-2028) (US $MN)    
2 Global Aquafeed Market Outlook, By Feed Type (2020-2028) (US $MN)   
3 Global Aquafeed Market Outlook, By Brooder (2020-2028) (US $MN)   
4 Global Aquafeed Market Outlook, By Finisher (2020-2028) (US $MN)   
5 Global Aquafeed Market Outlook, By Grower (2020-2028) (US $MN)   
6 Global Aquafeed Market Outlook, By Starter (2020-2028) (US $MN)   
7 Global Aquafeed Market Outlook, By Function (2020-2028) (US $MN)   
8 Global Aquafeed Market Outlook, By Digestion (2020-2028) (US $MN)   
9 Global Aquafeed Market Outlook, By Health (2020-2028) (US $MN)   
10 Global Aquafeed Market Outlook, By Palatability (2020-2028) (US $MN)   
11 Global Aquafeed Market Outlook, By Special Nutrition (2020-2028) (US $MN)   
12 Global Aquafeed Market Outlook, By Ingredient (2020-2028) (US $MN)   
13 Global Aquafeed Market Outlook, By Carotenoid (2020-2028) (US $MN)   
14 Global Aquafeed Market Outlook, By Corn (2020-2028) (US $MN)   
15 Global Aquafeed Market Outlook, By Fish Oil (2020-2028) (US $MN)   
16 Global Aquafeed Market Outlook, By Fishmeal (2020-2028) (US $MN)   
17 Global Aquafeed Market Outlook, By Grain By-product (2020-2028) (US $MN)   
18 Global Aquafeed Market Outlook, By Land Animal (2020-2028) (US $MN)   
19 Global Aquafeed Market Outlook, By Nutrients (2020-2028) (US $MN)   
20 Global Aquafeed Market Outlook, By Oils & Fats (2020-2028) (US $MN)   
21 Global Aquafeed Market Outlook, By Soybean    (2020-2028) (US $MN)   
22 Global Aquafeed Market Outlook, By Additives (2020-2028) (US $MN)   
23 Global Aquafeed Market Outlook, By Acidifiers (2020-2028) (US $MN)   
24 Global Aquafeed Market Outlook, By Amino Acids (2020-2028) (US $MN)   
25 Global Aquafeed Market Outlook, By Antibiotics (2020-2028) (US $MN)   
26 Global Aquafeed Market Outlook, By Antioxidants (2020-2028) (US $MN)   
27 Global Aquafeed Market Outlook, By Anti-parasitics (2020-2028) (US $MN)   
28 Global Aquafeed Market Outlook, By Binders (2020-2028) (US $MN)   
29 Global Aquafeed Market Outlook, By Enzymes (2020-2028) (US $MN)   
30 Global Aquafeed Market Outlook, By Feed Acidifiers (2020-2028) (US $MN)   
31 Global Aquafeed Market Outlook, By Mycotoxin Binders (2020-2028) (US $MN)   
32 Global Aquafeed Market Outlook, By Phylogenetic (2020-2028) (US $MN)   
33 Global Aquafeed Market Outlook, By Prebiotics & Probiotics (2020-2028) (US $MN)   
34 Global Aquafeed Market Outlook, By Vitamins & Minerals (2020-2028) (US $MN)   
35 Global Aquafeed Market Outlook, By Other Additives (2020-2028) (US $MN)   
36 Global Aquafeed Market Outlook, By Acidifiers (2020-2028) (US $MN)   
37 Global Aquafeed Market Outlook, By Carotenoids (2020-2028) (US $MN)   
38 Global Aquafeed Market Outlook, By Mycotoxin Binders (2020-2028) (US $MN)   
39 Global Aquafeed Market Outlook, By Phosphates (2020-2028) (US $MN)   
40 Global Aquafeed Market Outlook, By Species (2020-2028) (US $MN)   
41 Global Aquafeed Market Outlook, By Carps (2020-2028) (US $MN)   
42 Global Aquafeed Market Outlook, By Catfishes (2020-2028) (US $MN)   
43 Global Aquafeed Market Outlook, By Freshwater Crustaceans (2020-2028) (US $MN)   
44 Global Aquafeed Market Outlook, By Grouper (2020-2028) (US $MN)   
45 Global Aquafeed Market Outlook, By Marine Fishes (2020-2028) (US $MN)   
46 Global Aquafeed Market Outlook, By Marine Shrimps (2020-2028) (US $MN)   
47 Global Aquafeed Market Outlook, By Other (2020-2028) (US $MN)   
48 Global Aquafeed Market Outlook, By Rainbow Trout (2020-2028) (US $MN)   
49 Global Aquafeed Market Outlook, By Salmons (2020-2028) (US $MN)   
50 Global Aquafeed Market Outlook, By Sea Bass (2020-2028) (US $MN)   
51 Global Aquafeed Market Outlook, By Tilapias (2020-2028) (US $MN)   
52 Global Aquafeed Market Outlook, By Trout (2020-2028) (US $MN)   
53 Global Aquafeed Market Outlook, By Sales Channel (2020-2028) (US $MN)   
54 Global Aquafeed Market Outlook, By Direct Sales (2020-2028) (US $MN)   
55 Global Aquafeed Market Outlook, By Hypermarket (2020-2028) (US $MN)   
56 Global Aquafeed Market Outlook, By Indirect Sales (2020-2028) (US $MN)   
57 Global Aquafeed Market Outlook, By Online (2020-2028) (US $MN)   
58 Global Aquafeed Market Outlook, By Speciality Stores (2020-2028) (US $MN)   
59 Global Aquafeed Market Outlook, By Supermarket (2020-2028) (US $MN)   
60 Global Aquafeed Market Outlook, By Wholesalers (2020-2028) (US $MN)   
61 Global Aquafeed Market Outlook, By Form (2020-2028) (US $MN)   
62 Global Aquafeed Market Outlook, By Dry  (2020-2028) (US $MN)   
63 Global Aquafeed Market Outlook, By Pellets (2020-2028) (US $MN)   
64 Global Aquafeed Market Outlook, By Powdered (2020-2028) (US $MN)   
65 Global Aquafeed Market Outlook, By Crumbles (2020-2028) (US $MN)   
66 Global Aquafeed Market Outlook, By Wet (2020-2028) (US $MN)   
67 Global Aquafeed Market Outlook, By Moist (2020-2028) (US $MN)   
68 Global Aquafeed Market Outlook, By End User (2020-2028) (US $MN)   
69 Global Aquafeed Market Outlook, By Crustaceans (2020-2028) (US $MN)   
70 Global Aquafeed Market Outlook, By Shrimp (2020-2028) (US $MN)   
71 Global Aquafeed Market Outlook, By Crab (2020-2028) (US $MN)   
72 Global Aquafeed Market Outlook, By Fish (2020-2028) (US $MN)   
73 Global Aquafeed Market Outlook, By Salmon (2020-2028) (US $MN)   
74 Global Aquafeed Market Outlook, By Cat Fish (2020-2028) (US $MN)   
75 Global Aquafeed Market Outlook, By Mollusks (2020-2028) (US $MN)   
76 Global Aquafeed Market Outlook, By Oyster (2020-2028) (US $MN)   
77 Global Aquafeed Market Outlook, By Mussel (2020-2028) (US $MN)   
    
Note- Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.   
    

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