Aquafeed Market Global Forecast – 2023
Aquafeed Market © prashanth velishoju
Aquafeed is a mixture of raw materials, additives and other supplements, sourced from either natural or synthetic sources and are fed to the aquaculture. Aquafeed additives include amino acids, vitamins, minerals, enzymes, probiotics, antibiotics, flavors and colorants are the most common additives blended to form fish feed. Fish production in the world is mainly from both Aquaculture and Capture. Fish includes species like Tilapia, Catfish, Carp, and Salmon etc. The dwindling natural sources and other reasons have reduced the dependence on Captured Fisheries. Large part of fish production is used for human consumption directly and a small portion is used for feed purposes. The end consumers of Aquafeed are fish, molluscs, crustaceans etc. Tilapia is the most farmed fish, raised in 135 countries whereas Shrimp is the largest aquaculture commodity.
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Aquafeed Market Forecast Report (2018-2023):
The Global Aquafeed Market Size was worth $120.68 Billion in 2018 and estimated to be growing at a CAGR of 10.60%, to reach $199.72 Billion by 2023. Aquafeed is a mixture of raw materials, additives and other supplements, sourced from either natural or synthetic sources and are fed to the aquaculture.
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Aquafeed Market Growth:
The growth of the Global Aquafeed Market is majorly driven by factors such as the growth in global fish consumption, increase in mass production of fish, growing consumer awareness regarding the protein content in the fish food, and limited availability of marine feed resources. Globally increasing population is also supporting growth of the fish market, ultimately increasing the demand for Aquafeed. However, environmental regulations on wild, marine and inland fisheries has made it difficult to procure important raw materials like fish meal, fish oil for feeds. Regulatory structure of the animal feeds industry which restricts the use of certain materials such as antibiotics, and increasing costs of raw materials are the main factors hindering the growth of the market.
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Aquafeed Market Segmentation:
The Global Aquafeed Market is segmented based on End Use and Additives. On the basis of End Use, the Global Aquafeed Market is segmented into Fish, Mollusca, and Crustaceans. Fish is further sub segmented into Carp, Salmon, Tilapia, Catfish, and others. Mollusca is further sub segmented into Shrimp, Crab, and others. Crustaceans is further sub segmented into Oyster, Mussel, and others. Carp fish type has been observed to have the highest market share in Aquafeed market. This is due to their abundant availability and popularity as common carp fish types are tolerant to most water conditions. On the basis of Additives, the Global Aquafeed Market is segmented into Vitamins, Minerals, Antioxidants, Amino Acids, Enzymes, Acidifiers, Binders. Amino acids are an essential component of aquafeed with a market share of almost 21% in the total of aquafeed market in 2018.
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The market has also been geographically segmented into North America, Europe, Asia-Pacific and the Rest of the World. North America accounted for the largest share in the Global Aquafeed Market, accounting for around 32% of the global market. Asia-Pacific aquaculture industry is the largest in the world comprising of more than one third of the global market.
Aquafeed Market Key players:
Some of the major companies dominating this market are Cargill, Inc., Nutreco N.V., Alltech Inc., AllerAqua A/S, Beneo GmbH, Biomar A/S, Charoen Pokphand Foods Public Company Limited, and Coppens International B.V.
About MarketDataForecast
Market Data Forecast is a market research firm offering syndicated research, consults and industry newsletters across various domains & verticals. With a well-established in-house team of experts from diverse fields and outsource research network across 100+ countries, we are the sole research providers for the majority of Fortune 500 companies. Along with the standards of reports being on par excellence, our unique services like free customization, analyst support for the period of six months post to the purchase will be the flag bearers and differentiates us from the rest. Our experience and in-depth understanding of various business environments will be a support to you and your organization in making well-informed decisions.
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Mail: abhishek@marketdataforecast.com
Browse For Full Report @ https://marketdataforecast.com/market-reports/aquafeed-market-655/
Aquafeed Market Forecast Report (2018-2023):
The Global Aquafeed Market Size was worth $120.68 Billion in 2018 and estimated to be growing at a CAGR of 10.60%, to reach $199.72 Billion by 2023. Aquafeed is a mixture of raw materials, additives and other supplements, sourced from either natural or synthetic sources and are fed to the aquaculture.
Request Sample Report @ https://marketdataforecast.com/market-reports/aquafeed-market-655/request-sample
Aquafeed Market Growth:
The growth of the Global Aquafeed Market is majorly driven by factors such as the growth in global fish consumption, increase in mass production of fish, growing consumer awareness regarding the protein content in the fish food, and limited availability of marine feed resources. Globally increasing population is also supporting growth of the fish market, ultimately increasing the demand for Aquafeed. However, environmental regulations on wild, marine and inland fisheries has made it difficult to procure important raw materials like fish meal, fish oil for feeds. Regulatory structure of the animal feeds industry which restricts the use of certain materials such as antibiotics, and increasing costs of raw materials are the main factors hindering the growth of the market.
Inquire Before Buy @ https://marketdataforecast.com/market-reports/aquafeed-market-655/inquire
Aquafeed Market Segmentation:
The Global Aquafeed Market is segmented based on End Use and Additives. On the basis of End Use, the Global Aquafeed Market is segmented into Fish, Mollusca, and Crustaceans. Fish is further sub segmented into Carp, Salmon, Tilapia, Catfish, and others. Mollusca is further sub segmented into Shrimp, Crab, and others. Crustaceans is further sub segmented into Oyster, Mussel, and others. Carp fish type has been observed to have the highest market share in Aquafeed market. This is due to their abundant availability and popularity as common carp fish types are tolerant to most water conditions. On the basis of Additives, the Global Aquafeed Market is segmented into Vitamins, Minerals, Antioxidants, Amino Acids, Enzymes, Acidifiers, Binders. Amino acids are an essential component of aquafeed with a market share of almost 21% in the total of aquafeed market in 2018.
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The market has also been geographically segmented into North America, Europe, Asia-Pacific and the Rest of the World. North America accounted for the largest share in the Global Aquafeed Market, accounting for around 32% of the global market. Asia-Pacific aquaculture industry is the largest in the world comprising of more than one third of the global market.
Aquafeed Market Key players:
Some of the major companies dominating this market are Cargill, Inc., Nutreco N.V., Alltech Inc., AllerAqua A/S, Beneo GmbH, Biomar A/S, Charoen Pokphand Foods Public Company Limited, and Coppens International B.V.
About MarketDataForecast
Market Data Forecast is a market research firm offering syndicated research, consults and industry newsletters across various domains & verticals. With a well-established in-house team of experts from diverse fields and outsource research network across 100+ countries, we are the sole research providers for the majority of Fortune 500 companies. Along with the standards of reports being on par excellence, our unique services like free customization, analyst support for the period of six months post to the purchase will be the flag bearers and differentiates us from the rest. Our experience and in-depth understanding of various business environments will be a support to you and your organization in making well-informed decisions.
Contact Info:
Abhishek Shukla
Sales Manager
Market Data Forecast
Direct Line: +1-888-702-9626
Mobile: +91 998 555 0206
Mail: abhishek@marketdataforecast.com