Aquafeed Market Report, By Ingredients (Soybean, Corn, Fish Meal, Fish Oil), End Users (Fish, Mollusks, Crustaceans), Additives (Antibiotics, Vitamins, Antioxidants, Amino Acids, Feed Enzymes, Feed Acidifiers) and Geography- Global Market Share, Trend Analysis & Forecast

Aquaculture endures to be the world’s most varied food production sector, with over 277 different species as recorded in 2016, covering 20 species of aquatic plants, 59 species of mollusks, 27 species of crustaceans and over 171 fish species. According to the latest statistical information from FAO, total global aquaculture production increased by 4.5 percent.

Aquafeeds are compounded meals arranged for aquatic animals by combining numerous raw materials and ingredients. These mixtures are organized according to exact necessity of the species and age of the animal. Aquafeed has developed as a vital to aquaculture industry due to its nutritive, immune resistant, and enhancement promoting characteristics. Superior aquafeed is largely more advantageous to fish, mollusks, crustaceans & other aquatic animals as compared to farm-made feed due owing to their stable and need specific composition.

Market Dynamics- Global Aquafeed Market

Mounting demand for exotic, protein & omega 3 enriched fish species such as salmon & carp and rising need for raw fish elegances including sushi & sashimi is forcing breeders to opt for aquafeed products which is expanding market demand. These products are rich in Omega 3, amino acids and natural proteins which support in improved development of fish, lessen the threat of bacterial & fungal infections, and makes the fish more edible by proving a sweet aftertaste thereby boosting aquafeed use.

Growing worries regarding cross contamination & sea food borne ailments such as listeria, vibrio, and salmonella is also boosting breeders go for feed acidifiers and natural vitamin ingredients is likely to trigger market share. Omega 3 avoids the development of fungal infections on fin, eliminates the contamination from fish gut, increases circulation rate, and lessens the risk of contamination from water borne pathogens, bacteria, and microbes which may push market trends.

Major Developments:

In September 2019, DuPont launched POWERPasta range of Aquafeed that helps maintain the eating, cooking and serving qualities. This range of Aquafeed also helps to reduce sickness after cooking, prevent overcooking and improve the shape and appearance of pasta.

Similarly, Creative Aquafeed, a cutting-edge Aquafeed product and service provider based in NY, USA, in 2019 announced the launch of several Aquafeed products to help clients with the increasing needs in diverse Aquafeed, and the newly-developed product ranges include cellulase, chitinase, and lipase  

Aquafeed Market Segmental Overview

The study analyses Global Aquafeed market is based on ingredients, additives, end users and geography. 

• The major ingredients include soybean, corn, fish meal, fish oil and others. The soybean is likely to be the fastest growing segment credited to ease of availability and accessible at a very low price compared to other ingredients.
• Based on additives, the market is portioned into antibiotics, vitamins, antioxidants, amino acids, feed enzymes, feed acidifiers etc. Amino acids segment is likely to dominate the market over the forecast period. Various aspects such as advancements in the field of aquafeed techniques and growing concern associated with maintaining nutritional level in the fish is anticipated to accelerate the market growth. 
• The ed users of this market include fish, mollusks, crustaceans etc. Fish is likely to be the major end user because of the growing production of several fishes and consumption of fish in different foods worldwide is projected to fuel the demand for fish.

Aquafeed Market by Geography

Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World. Europe is likely to account for the highest share of the total Aquafeed market revenue, followed by North America and Asia-Pacific. Mounting demand for processed and fast food, increasing out of pocket expenditure, and shift in consumer preference towards seafood is expected to drive regional demand thus boosting market size. Recent regulation by EU approving the use of insect-based protein along with stringent safety and hygiene standards should drive market demand.

However, the Asia Pacific market for aquafeed is likely to be the fastest growing market led by China, India, Japan, and South Korea ad are likely to contribute significantly during the forecast period. Ease of trading across international borders in the region will positively impact the industry growth through the forecast timeframe. 

Global Aquafeed Market-Key Players

Some of the key participants in global aquafeed market are Archer Daniels Midland Company, Ridley Corporation Limited, Avanti Feeds Ltd, Nutreco N.V, Cargill, Incorporated, Purina Animal Nutrition (Land O’ Lakes Inc.), Alltech, Biostadt India Limited, Nutriad, Aller Aqua Group, BioMar Group, Biomin Holding GmbH, Dibaq a.s., Norel S.A and DE HEUS. Customise product development and product innovation are the major strategies used by the market players to reinforce the position in the market. Most of the prominent players in the aquafeed market focus on expansion, acquisitions and new product development strategies to ensure substantial presence in the market.