Aquafeed Market: Growth Opportunities and Recent Developments

Northbrook, USA, 2020-Sep-21 — /EPR Network/ — The aquafeed market is estimated to account for USD 50.6 billion in 2020 and is projected to reach USD 71.6 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

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On the basis of ingredient, the soybean segment is estimated to account for a major share, in terms of value, 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. Since soybean meal is priced significantly lesser than fishmeal, the consumption of soybean meal is high.

The amino acids segment, by additive, is projected to dominate the aquafeed market during the forecast period.

Amino acids are important in animal nutrition and are the building blocks of protein, which play an essential role in the growth, production, and overall maintenance of aquatic animal health. Amino acids provide the energy required for the growth of muscles and bones for muscle movement, digestion, and blood circulation. Owing to these factors, the amino acids segment dominates the aquafeed market, by additive.

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Asia Pacific is projected to account for the largest share in the aquafeed market during the forecast period.

The Asia Pacific market accounted for the largest share in 2020; this market is majorly driven by China and Vietnam, which are major markets for aquafeed. China is among the leading producers of aquafeed in the Asia Pacific region. Due to the significant growth of seafood consumption and trade in this region, the aquafeed market is projected to grow in the region. The processed seafood market in the region is also currently undergoing significant transformation in response to the rapid urbanization and diet diversification. Also, consumer demand for convenience and processed seafood offers profitable growth prospects and diversification to the region’s food sector.

The major vendors in the global 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).

Recent Developments:

• In January 2019, ADM acquired Neovia (formerly known as InVivo NSA) (France) for USD 1.82 billion (Euro 1.54 billion). This acquisition would provide a strong platform for ADM’s future growth.
• In November 2018, Cargill invested USD 70 million in Thailand to provide innovative technology to the aquaculture and poultry industries located in Thailand.
• In June 2017, Nutreco completed the acquisition of Hi-Pro Feeds LP (Canada). The acquired entity would trade under its global brand, Trouw Nutrition.