Commercial Aquafeed Market is estimated to be growing at a CAGR of 8.5%.

Posted by rohan on January 5th, 2018

Commercial Aquafeed Market was worth USD 110.5 billion in 2016 and estimated to be growing at a CAGR of 8.5%, to reach USD 166.15 billion by 2021. Manufactured feeds are a significant part of the modern aquaculture industry. They provide the balanced nutrition needed by farm fish. The feeds are available in the form of granules or pellets, and provide the nutrition in a stable and concentrated form, enabling the fish to feed efficiently and grow up to their full potential.

Many of the fish brought up in farms around the world today are carnivorous, such as the Atlantic salmon, trout, sea bass, and turbot. In the early development of fish feeding which has hence evolved into the modern aquaculture, fishmeal and fish oil were key components of the feeds for these species. They are combined with other ingredients such as vegetable proteins, cereal grains, vitamins and minerals and made into feed pellets. Wheat, for example, is widely used as it helps to bind the ingredients in the pellets.

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The growth of the caseinate market is mainly driven by factors such as population growth, rising disposable income, and rapid urbanization, and is facilitated by the strong expansion of fish production and more efficient distribution channels. As for the restraints of the market, large scale storage of the same for farms is still a problem and the high costs are also turn offs for the market. The industry has to come up with innovative solutions for these problems in order for the market to grow freely.

The Global Commercial Aquafeed market is broadly classified by End User into Fish, Molluscs and Crustaceans, and based on Ingredients into Soybean, Corn, Fish Meal, Fish Oil and Additives, by Additive into Antibiotics, Vitamins, Anti-Oxidants, Amino Acids, Feed Enzymes and Feed Acidifiers. Based on geography, the global market is analysed under various regions namely North America, Europe, Asia-Pacific, Latin America and Middle East and Africa. The Commercial Aquafeed Market is dominated by North America in 2016 with the region accounting for 36% of the overall market share. North America was followed next in line by Europe and Asia-Pacific. Asia-Pacific is expected to grow rapidly in the coming years as is evident from the high CAGR value for the region. Another promising region for the market is Latin America, which is expected to show high growth rates in coming years.

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The Commercial Aquafeed market is highly competitive with a large number of players. Key market players dominating the market with their products are Archer Daniels Midland Company, Ridley Corporation Limited, Cargill, Nutreco N.V, and Avanti Feeds Ltd.; these are well-established and financially stable players that have been operating in the industry for several years. Other players include Purina Animal Nutrition LLC, Nutriad, Alltech, Biostadt India Limited, Aller Aqua A/S, Biomar, BIOMIN Holding GmbH, Norel Animal Nutrition, Dibaq A.S, and De Heus Animal Nutrition.

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