Revenues over US$ 86 Bn will be Accounted by Aquafeed Market by 2027Posted by Pradnya Kulkarni on December 26th, 2017 A US$ 50 Bn market, the global aquafeed market has been largely concentrated in the APEJ region for over two decades, owing to a large supply of fresh water in the region and a thriving aquaculture market. While North America will continue to witness significant growth during the forecast period, the MEA market is slated to display great potential in the coming years, owing to a cheap labour force and a large production of the fish tilapia in Egypt. In terms of volume, the APEJ regional market is estimated to be pegged at 21.5 million metric tonnes in 2017 and this is expected to reach almost 40 million metric tonnes by the end of 2027, registering a CAGR of 6.3% in terms of volume. North America will witness a CAGR of 5.6% in terms of volume during the decadal study 2017 – 2027. Segmental forecast of the global aquafeed market The global aquafeed market is segmented on the basis of species (Crustaceans, Fishes, Others); form (Extruded, Powder, Liquid, Pellets); function (Health, Digestibility, Palatability, Special Nutrition); ingredients (Marine, Land Animal, Veg/Grain, Carotenoid, Nutrients, Others); and sales channel (Direct Sales, Indirect Sales, Hyper/Supermarket, Wholesalers, Speciality Stores, Online, Other Retail Formats).
Direct Sales will remain the favourite segment by sales channel and will hold over 60% of the market share throughout the forecast period. This segment is anticipated to be valued at over US$ 30 Bn in 2017 Global Aquafeed Market Forecast 2017 – 2027 The new report by Future Market Insights titled “Aquafeed Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)” forecasts the global aquafeed market to be valued at about US$ 50 Bn by the end of 2017 and will continue to grow at a CAGR of 5.9% during the period of study to reach a market valuation of about US$ 86 Bn by the end of the forecast period. Competitive landscape The report profiles some of the top companies operating in the global aquafeed market including Cargill Inc., Koninklijke DSM N.V., BENEO GmbH, Sonac B.V, ADM, Novus International, Biomin Holding GmbH, Nutriad NV, Alltech Inc., Norel SA, Cermaq, Skretting, Aller Aqua A/S, Clextral, Dibaq, Biomar, Zeigler Bros., Inc., Ridley Corporation Limited, Nutreco N.V., and INVE Aquaculture Inc. Major aquafeed manufacturers in developed and emerging economies are focussing on functional features enhancement in their aquafeed using ingredients that focus on digestibility factors. Request Report TOC @ https://www.futuremarketinsights.com/askus/rep-gb-4540 Like it? Share it!More by this author |