Product Code: AGI 2681
"Growth in the aquaculture industry and rising seafood trade are projected to drive the overall growth of the aquafeed market."
The global aquafeed market size is projected to grow from USD 47.3 billion in 2019 to USD 71.7 billion by 2025, at a CAGR of 7.2% during the forecast period. Factors such as the growing aquaculture industry and increasing seafood trade are factors projected to drive market growth. However, fluctuations in raw material prices and the growing environmental and human health concerns are projected to hinder the growth of the market.
"The fish segment, by species, is estimated to dominate the aquafeed market in 2019."
The fish segment accounted for the largest share in 2018, in terms of value. Fish is the cheapest and most easily digestible animal protein. However, due to excessive exploitation of resources and pollution, the availability of fish in natural waters has declined considerably. This has resulted in the adoption of various methods to increase production. The major types of fish considered for the study include tilapia, salmon, carp, and trout.
"The soybean segment, by ingredient, is projected to account for the largest share during the forecast period in the aquafeed market."
The soybean segment is estimated to dominate the aquafeed market in 2019. Soybean is among the non-fish sources of omega-3 fatty acids, proteins, and unsaturated fats. Soy protein is fed to farm-reared fish and shellfish to enhance their overall growth and development. Some of the commonly used soybean products in aquafeed include heat-processed full-fat soybean, mechanically extracted soybean cake, solvent-extracted soybean meal, and dehulled solvent-extracted soybean meal.
"Asia Pacific is projected to be the fastest-growing region in the aquafeed market."
The Asia Pacific market accounted for the largest share in 2018. According to a report published in 2018 by the National Bank for Agriculture & Rural Development (NABARD) on Fisheries and Aquaculture, countries, such as India, have focused on the adoption of freshwater aquaculture as their key activity, which has contributed to its market dominance. Also, consumer demand for convenience and processed seafood offers profitable growth prospects and diversification in the region's food sector. These factors are projected to significantly drive the market growth for aquafeed during the forecast period.
In-depth interviews were conducted with chief executive officers (CEOs), marketing directors, aquafeed manufacturers, and executives from various key organizations operating in the aquafeed market.
- By Company Type: Tier 1: 40%, Tier 2: 35%, and Tier 3: 25%
- By Designation: C-level: 20%, D-level: 30%, and Others*: 50%
- By Region: Asia Pacific: 40%, South America: 20%, North America: 15%, Europe: 15%, **RoW: 10%
Others include: sales managers, marketing managers, and product managers.
*RoW includes the Middle East and Africa.
The aquafeed market comprises major manufacturers such as Cargill (US), Archer Daniels Midland Company (US), Alltech (US), Purina Animal Nutrition (US), Nutreco N.V. (Netherlands), and Ridley Corporation Ltd. (Australia). The study includes an in-depth competitive analysis of these key players in the aquafeed market, along with their company profiles, recent developments, and the key market strategies.
Research Coverage:
The study covers the aquafeed market across various segments. It aims at estimating the market size and growth potential across different segments, such as species, ingredient, additive, lifecycle, form, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall aquafeed market and its subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report will also help the stakeholders to understand the pulse of the market and will provide them with information on key market drivers, restraints, challenges, and opportunities.
TABLE OF CONTENTS
1 INTRODUCTION
- 1.1 OBJECTIVES OF THE STUDY
- 1.2 MARKET DEFINITION
- 1.3 STUDY SCOPE
- 1.4 PERIODIZATION CONSIDERED
- 1.5 CURRENCY CONSIDERED
- 1.6 VOLUME UNIT CONSIDERED
- 1.7 STAKEHOLDERS
2 RESEARCH METHODOLOGY
- 2.1 RESEARCH DATA
- 2.1.1 SECONDARY DATA
- 2.1.2 PRIMARY DATA
- 2.1.2.1 Key industry insights
- 2.1.2.2 Breakdown of primary interviews
- 2.2 MARKET SIZE ESTIMATION
- 2.3 DATA TRIANGULATION
- 2.4 RESEARCH ASSUMPTIONS
- 2.5 LIMITATIONS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
- 4.1 OPPORTUNITIES IN THE AQUAFEED MARKET
- 4.2 AQUAFEED MARKET, BY SPECIES & REGION, 2018
- 4.3 ASIA PACIFIC: AQUAFEED MARKET, BY INGREDIENT & COUNTRY
- 4.4 AQUAFEED MARKET, BY FORM
- 4.5 AQUAFEED MARKET, BY KEY COUNTRY
5 MARKET OVERVIEW
- 5.1 INTRODUCTION
- 5.2 MARKET DYNAMICS
- 5.2.1 DRIVERS
- 5.2.1.1 Growth in the aquaculture industry
- 5.2.1.2 Rise in seafood trade propelling the demand
- 5.2.2 RESTRAINTS
- 5.2.2.1 Fluctuations in raw material prices
- 5.2.3 OPPORTUNITIES
- 5.2.3.1 Growth in support from governments
- 5.2.3.2 Development of innovative products as a source of protein
- 5.2.4 CHALLENGES
- 5.2.4.1 Growth in environmental and human health concerns
- 5.3 REGULATORY FRAMEWORK
- 5.3.1 CHINA
- 5.3.2 EUROPEAN UNION
- 5.3.3 JAPAN
- 5.3.4 SOUTH AFRICA
- 5.4 VALUE CHAIN FRAMEWORK
6 AQUAFEED MARKET, BY INGREDIENT
- 6.1 INTRODUCTION
- 6.2 SOYBEAN
- 6.2.1 PROCESSED SOYBEAN IS THE WORLD'S LARGEST SOURCE OF ANIMAL PROTEIN FEED
- 6.2.1.1 Soybean meal
- 6.2.1.2 Soy oil
- 6.2.1.3 Soy lecithin
- 6.3 FISHMEAL
- 6.3.1 FISHMEAL IMPROVES THE OVERALL EFFICIENCY OF THE FEED AND AIDS IN DIGESTION
- 6.4 CORN
- 6.4.1 CORN OIL IS A LOW-COST ALTERNATIVE TO ANIMAL FEED PROTEINS USED IN AQUACULTURE
- 6.4.1.1 Corn gluten meal
- 6.4.1.2 Corn gluten feed
- 6.4.1.3 Corn oil
- 6.5 FISH OIL
- 6.5.1 FISH OIL IS A VALUABLE FEED INGREDIENT FOR THE AQUACULTURE INDUSTRY
- 6.6 ADDITIVES
- 6.6.1 THE GROWING DEMAND FOR HIGH-PROTEIN DIETS IS AIDING THE GROWTH OF ADDITIVES
- 6.7 OTHERS
- 6.7.1 WHEAT HAS GOOD PELLET-BINDING PROPERTIES DUE TO WHICH IT IS PREFERRED IN FEED AS AN ALTERNATIVE INGREDIENT
7 AQUAFEED MARKET, BY ADDITIVE
- 7.1 INTRODUCTION
- 7.2 AMINO ACIDS
- 7.2.1 AMINO ACIDS AID IN OVERCOMING DIETARY DEFICIENCIES IN AQUATIC ANIMALS
- 7.3 VITAMINS & MINERALS
- 7.3.1 VITAMINS AID IN COPING WITH THE DEFICIENCIES AND DEFORMITIES IN YOUNG, DEVELOPING FISH
- 7.4 PROBIOTICS & PREBIOTICS
- 7.4.1 USE OF PROBIOTICS & PREBIOTICS ENHANCING THE GUT HEALTH OF AQUATIC ANIMALS
- 7.5 ENZYMES
- 7.5.1 FEED ENZYMES AID IN NUTRIENT ABSORPTION DUE TO WHICH ITS APPLICATION IS GROWING IN FEED
- 7.6 ANTIBIOTICS
- 7.6.1 OUTBREAK OF INFECTIOUS DISEASES IN AQUATIC ANIMALS LEADING TO THE ADOPTION OF ANTIBIOTICS
- 7.7 ANTIOXIDANTS
- 7.7.1 RISE IN DEMAND FOR FISH FEED STEERING THE GROWTH OF ANTIOXIDANTS AS AN ADDITIVE
- 7.8 OTHERS
- 7.8.1 ADDITION OF CAROTENOIDS ENHANCING THE COMMERCIAL VALUE OF FISH
8 AQUAFEED MARKET, BY SPECIES
- 8.1 INTRODUCTION
- 8.2 FISH
- 8.2.1 FISH IS THE LARGEST CONSUMER OF AQUAFEED INGREDIENTS AMONG ALL SPECIES
- 8.2.2 TILAPIA
- 8.2.3 SALMON
- 8.2.4 CARP
- 8.2.5 TROUT
- 8.2.6 OTHERS
- 8.3 CRUSTACEANS
- 8.3.1 GROWTH IN SHRIMP PRODUCTION TO BOOST THE AQUAFEED CONSUMPTION AMONG CRUSTACEANS
- 8.3.2 SHRIMP
- 8.3.3 CRABS
- 8.3.4 KRILL
- 8.3.5 OTHERS
- 8.4 MOLLUSKS
- 8.4.1 OYSTERS AND MUSSELS ARE THE MOST WIDELY CULTURED GROUPS UNDER MOLLUSKS
- 8.4.2 OYSTERS
- 8.4.3 MUSSELS
- 8.4.4 OTHERS
- 8.5 OTHERS
9 AQUAFEED MARKET, BY FORM
- 9.1 INTRODUCTION
- 9.2 DRY FORM
- 9.2.1 THE FREE-FLOWING STRUCTURE AND CONSISTENCY OF THE DRY AQUAFEED MAKES IT A PREFERRED FORM
- 9.3 WET FORM
- 9.3.1 THE WET FORM OF FEED IS USED TO MEET THE REQUIREMENTS OF CARNIVOROUS FISH
- 9.4 MOIST FORM
- 9.4.1 THE MOIST FORM IS MORE PALATABLE TO AQUATIC ANIMALS DUE TO ITS SOFT CONSISTENCY
10 AQUAFEED MARKET, BY LIFECYCLE
- 10.1 INTRODUCTION
- 10.2 GROWER FEED
- 10.2.1 GROWER FEED IS ADMINISTERED TO MEET THE PROTEIN REQUIREMENTS OF SMALL FISH
- 10.3 FINISHER FEED
- 10.3.1 PROTEIN LEVELS IN FINISHER FEED VARY BY DIFFERENT SHRIMP SPECIES
- 10.4 STARTER FEED
- 10.4.1 STARTER FEED AIDS IN IMPROVING THE DIGESTION AND NUTRITIONAL INTAKE OF SMALL AQUATIC ANIMALS
- 10.5 BROODER FEED
- 10.5.1 BROODERS OUGHT TO RECEIVE NATURAL FOOD INGREDIENTS AND ARTIFICIAL FEEDS TO ENSURE BETTER REPRODUCTION
11 AQUAFEED MARKET, BY REGION
- 11.1 INTRODUCTION
- 11.2 NORTH AMERICA
- 11.2.1 US
- 11.2.1.1 Growth in affinity toward the consumption of seafood products to drive growth
- 11.2.2 MEXICO
- 11.2.2.1 Government initiatives to promote the consumption of seafood to drive growth
- 11.2.3 CANADA
- 11.2.3.1 Rise in market exports to promote the aquafeed market in the country
- 11.3 EUROPE
- 11.3.1 NORWAY
- 11.3.1.1 The thriving aquaculture industry is expected to drive the market for aquafeed
- 11.3.2 GREECE
- 11.3.2.1 Increase in seafood production to drive the market for aquafeed
- 11.3.3 UK
- 11.3.3.1 Rise in seafood consumption driving the market for aquafeed
- 11.3.4 RUSSIA
- 11.3.4.1 Government incentives are expected to propel the market for aquafeed
- 11.3.5 SPAIN
- 11.3.5.1 The country's vast mollusk population drives the aquafeed market
- 11.3.6 REST OF EUROPE
- 11.3.6.1 Growth in seafood production in the region is expected to drive growth
- 11.4 ASIA PACIFIC
- 11.4.1 CHINA
- 11.4.1.1 Growth in the aquaculture industry to propel the market growth for aquafeed
- 11.4.2 VIETNAM
- 11.4.2.1 Seafood forming: An important dietary requirement to drive growth
- 11.4.3 THAILAND
- 11.4.3.1 Rise in demand for exotic seafood products to drive the market for aquafeed
- 11.4.4 INDONESIA
- 11.4.4.1 Increase in production from freshwater aquaculture to drive growth
- 11.4.5 INDIA
- 11.4.5.1 A shift toward intensive aquafarming is expected to propel market growth
- 11.4.6 REST OF ASIA PACIFIC
- 11.4.6.1 Seafood is considered a healthy dietary constituent to drive market growth
- 11.5 SOUTH AMERICA
- 11.5.1 CHILE
- 11.5.1.1 Large fish farming areas and suitable climatic conditions aid market growth for aquafeed in the country
- 11.5.2 BRAZIL
- 11.5.2.1 Favorable government opportunities formulated to propel aquaculture in the country
- 11.5.3 REST OF SOUTH AMERICA
- 11.5.3.1 Increased demand for aquaculture products has been driving the demand for aquafeed products in the region
- 11.6 REST OF THE WORLD
- 11.6.1 AFRICA
- 11.6.1.1 Low development of aquaculture has led to a smaller market for aquafeed in the region
- 11.6.2 MIDDLE EAST
- 11.6.2.1 Rise in demand for value-added processed seafood products to drive market growth
12 COMPETITIVE LANDSCAPE
- 12.1 OVERVIEW
- 12.2 COMPETITIVE LEADERSHIP MAPPING
- 12.2.1 DYNAMIC DIFFERENTIATORS
- 12.2.2 INNOVATORS
- 12.2.3 VISIONARY LEADERS
- 12.2.4 EMERGING COMPANIES
- 12.3 COMPETITIVE LEADERSHIP MAPPING (FOR START-UPS/SMES)
- 12.3.1 EMERGING LEADERS
- 12.3.2 STARTING BLOCKS
- 12.3.3 PROGRESSIVE COMPANIES
- 12.3.4 DYNAMIC CAPITALIZERS
- 12.4 COMPETITIVE SCENARIO
- 12.4.1 NEW PRODUCT LAUNCHES
- 12.4.2 EXPANSIONS & INVESTMENTS
- 12.4.3 ACQUISITIONS
- 12.4.4 PARTNERSHIPS, JOINT VENTURES, COLLABORATIONS, AND AGREEMENTS
13 COMPANY PROFILES
(Business overview, Products offered, Recent developments, SWOT analysis & MnM View)*
- 13.1 ARCHER DANIELS MIDLAND COMPANY
- 13.2 CARGILL
- 13.3 RIDLEY CORPORATION LIMITED
- 13.4 NUTRECO
- 13.5 ALLTECH
- 13.6 PURINA ANIMAL NUTRITION
- 13.7 NUTRIAD
- 13.8 ALLER AQUA A/S
- 13.9 BIOMIN
- 13.10 BIOMAR
- 13.11 NOREL ANIMAL NUTRITION
- 13.12 AVANTI FEEDS LIMITED
- 13.13 DEHEUS
- 13.14 NOVUS INTERNATIONAL
- 13.15 BIOSTADT INDIA LIMITED
Details on Business overview, Products offered, Recent developments, SWOT analysis & MnM View might not be captured in case of unlisted companies.
14 APPENDIX
- 14.1 DISCUSSION GUIDE
- 14.2 KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
- 14.3 AVAILABLE CUSTOMIZATIONS
- 14.4 RELATED REPORTS
- 14.5 AUTHOR DETAILS
