17 January 2020
Market Overview:Disable Third Party Ads
Aquatic Feed Market was worth USD 130.1 billion in 2019 and estimated to be growing at a CAGR of 10.0%, to reach USD 209.5 billion by 2024
An essential part of successful commercial aquaculture is the selection of the right food, which guarantees a balanced diet of the fish. The food can be granular or granulated and is essential for a steady diet of fish in its enclosures, which may not contain any natural source of food. Wheat, because of its binding property, is used to keeping the granules together as the main ingredient in all water feeds. In carnivorous fish species, such as salmon, trout, and turbot, fishmeal and fish oil are the main ingredients to make the food. Other essential ingredients in fish feed are vegetable proteins, vitamins, minerals, and grains. Dump fish is also considered fish feed, feeding directly caught fish to larger species that grow in aquatic habitats.
Market Drivers and Restraints:
The main factors affecting the aquatic food market are the increase in population, the rise in income that leads to higher demand for seafood, rapid urbanization and a substantial expansion of the seafood production industry, backed by technological advances for better distribution and storage, the market is also supported by the growing demand for natural dietary supplements, where omega-3 fatty acids derived from certain fish species are an essential component. The increase in the price of the materials necessary for the production of water and food is one of the limitations of the market, as is the fact that the industry is only profitable with large-scale production.
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Report segmented as
Fish Feed Such as Tilapia
Carp and Catfish Feed
Mollusks Such as Oyster Feed and Mussel Feed
Crustaceans Such as Shrimp Feed and Crab Feed
Based on geography, the global market is analyzed under various regions, namely North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The Aquatic Feed Market is dominated by the Asia Pacific in 2016 with the region accounting for almost 60% of the overall market share. North America was next in line followed by Europe. Asia Pacific is also expected to grow rapidly in the coming years, as is evident from the high CAGR value for the region.
Important Market Players:
The Aquatic Feed market is highly competitive, with a large number of players. Key market players dominating the market with their products are Cargill Inc, BioMar group, Waterbase Ltd, BASF SE, Alltech Inc, Coppen International, Evonik Industries, Archer Daniels Midland Company, Ridley Corporation, Nutreco NV, Avanti Feeds Ltd, and Ewos.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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