Aquafeed Market Research Report 2022-2027: Industry Outlook, Growth Rate, Leading Key Players Share, Size and Forecast

September 16 23:30 2022
The global market is primarily driven by significant growth in aquaculture production.

The latest report by IMARC Group, titled “Aquafeed Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The global aquafeed market size reached US$ 140.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 237.5 Billion by 2027, exhibiting a growth rate (CAGR) of 8.95% during 2022-2027. Aquafeed refers to any feed given to aquatic animals primarily to supply nutritional requirements to perform their normal physiological functions. These physiological functions include maintaining the highly effective natural immune system, reproduction, and growth. It is formulated with a vast pool of ingredients and then fed to the animals. It has a finite shelf life and special handling requirements and must be handled with care. Aquafeed has become essential for aquaculture due to its nutritional, immune-resistant, and growth-promoting properties. High-quality aquafeed is more beneficial to fish, mollusks, crustaceans, and other aquatic animals than farm-made feed due to its balanced and need-specific composition. 

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Global Aquafeed Market Trends

The global market is primarily driven by significant growth in aquaculture production. In line with this, increasing seafood trade and rising seafood consumption among consumers due to the need for protein-rich diets are positively influencing the market. Furthermore, growing support from governments for fish farming activities and the development of innovative products as a source of protein is catalyzing the market. Apart from this, escalating awareness regarding the scientific feeding of cultivation species is creating a positive outlook for the market. Several market players are creating innovative products to diversify their product offerings. Various players use product launches to expand their market reach and serve global customers.

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Global Market Demand:

Moreover, the product demand is expected to be driven by increasing product consumption in cultivating various aquatic species such as tilapia, carp, catfish, and salmon, among others. There is a shifting preference for natural and organic feed products among the manufacturers, which has now become the new industry trend, thus propelling the demand for plant-based aquafeed. Besides this, the growing popularity of aquafeed incorporated with beneficial ingredients is offering numerous opportunities for market growth. Additionally, governments of various countries are implementing initiatives and schemes to encourage farmers to utilize high-quality feed, thus creating a positive outlook for the market.

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Key Maket Segmentation:

Breakup by Species:

  • Carps
  • Marine Shrimps
  • Tilapias
  • Catfishes
  • Marine Fishes
  • Salmons
  • Freshwater Crustaceans
  • Trout
  • Others

Breakup by Ingredients:

  • Soybean
  • Corn
  • Fish Meal
  • Fish Oil
  • Additives
  • Others

Breakup by Additives:

  • Vitamins and Minerals
  • Antioxidants
  • Feed Enzymes
  • Others

Breakup by Product Form:

  • Pellets
  • Extruded
  • Powdered
  • Liquid

Breakup by Region:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Competitive Landscape:

The competitive landscape of the market has also been examined with the detailed profiles of the key players operating in the market.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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