Rise in Seafood Trade Propelling the Demand for Aquafeed Market

Northbrook, IL, USA, 2019-Dec-10 — /EPR Network/ —The aquafeed market is estimated to account for USD 47.3 billion in 2019 and is projected to reach USD 71.7 billion by 2025, recording a CAGR of 7.2% during the forecast period. The market is primarily driven by the increasing seafood trade, growth in aquaculture production, and rising seafood consumption among consumers due to the increasing need for protein-rich diets.

Report Objectives:

• To describe and forecast the aquafeed market, in terms of ingredient, species, form, additive, lifecycle, and region
• To describe and forecast the aquafeed market, in terms of value, by region–Asia Pacific, Europe, North America, South America, and the Rest of the World—along with their respective countries
• To provide detailed information regarding the major factors influencing market growth (drivers, restraints, opportunities, and challenges)
• To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
• To study the complete value chain of aquafeed
• To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the aquafeed market
• To strategically profile the key players and comprehensively analyze their market positions, in terms of ranking and core competencies, along with detailing the competitive landscape for market leaders
• To analyze strategic approaches such as mergers & acquisitions, investments & divestments, expansions, product launches, agreements, collaborations and partnerships in the aquafeed market

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1151

The fishmeal segment, by ingredient, is projected to grow at the highest CAGR in the aquafeed market during the forecast period.

The fishmeal segment is projected to be growing at the fastest rate during the forecast period, owing to the depleting amount of raw materials required for its production and increasing price levels. Due to over-exploitation, high demand, and price fluctuation of fishmeal, a large number of possible fishmeal replacers, including animal by-products (blood meal, poultry by-product meal, and bone meal), single-cell proteins (mainly from fungal and bacterial sources, such as algae), oilseeds (soybean, rapeseed, sunflower, and cottonseed), and legumes (beans, peas, and lupins) are being used in manufacturing aquafeed.

The fish segment, by species, is projected to witness the highest growth in the aquafeed market during the forecast period, due to the increased consumption of seafood products.

The fish segment is projected to record the highest CAGR during the forecast period. Fish farming and aquaculture in controlled conditions or under artificial settings have become an easier way to increase fish production and its availability for consumption. Fish farming in ponds, lakes, rivers, and coastal waters is increasing to fill the gap between demand and supply. The increase in fish farming activities and aquaculture has led to increased demand for fish feed.

Asia Pacific is projected to witness the highest growth in the aquafeed market during the forecast period.

The global aquafeed market was dominated by Asia Pacific in 2018, in terms of value and volume; this market is majorly driven by China, which is a major producer of aquafeed. China is the leading producer, consumer, and processor of aquaculture products, contributing to about one-third to the global supply. Moreover, the processed seafood market in the region is also currently undergoing a significant transformation in response to the rapid urbanization and diet diversification.

Many domestic and global players provide aquafeed products to improve fish health. Major manufacturers have their presence in the North American and European countries. The report scope has been restricted to the market for commercial aquafeed products marketed across the globe. The key companies in the aquafeed market are Cargill (US), Archer Daniels Midland Company (US), Alltech (US), Purina Animal Nutrition (US), Nutreco N.V. (Netherlands), and Ridley Corporation Ltd. (Australia). Various strategies, such as expansions & investments, partnerships, collaborations, and agreements, were adopted by the key companies to remain competitive in the aquafeed market.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Email: newsletter@marketsandmarkets.com