Know More About “Aquafeed Market 2019-2022” Growth Worldwide…..|Grand View Research, Inc.


The global aquafeed market size is anticipated to reach USD 133.1 billion by 2022, according to a new study by Grand View Research, Inc. Growing usage of aquafeed in crustacean and carp farming is likely to fuel demand over the course of the forecast period. Static natural production of fishes is expected to boost an already thriving market for aquaculture. Moreover, rising focus on nutraceuticals, such as omega 3-enriched products, is slated to generate immense opportunities for aquafeed applications.
Prominent aquaculture additives include amino acids and antibiotics. They cannot be synthesized by fish but are vital for regular body mechanism. Amino acids held the dominant share in terms of product, amounting to an estimated revenue of USD 236.0 million in 2013. Feed acidifiers are poised to exhibit the highest growth rate during the forecast period, recording a CAGR of 6.1% from 2014 to 2022.
Aquafeed, also known as the fish feed, is a commercially produced food item for various aquatic species such as fish, crustaceans, and mollusks. Aquafeed is extensively used in the aquaculture sector. Fish cultivated on farms and feeding on pests found on crops can also be categorized under the aquafeed market segment. Properties of commercially manufactured feeds can be altered so that they can float on the surface of the water or sink to the bottom of the tanks where fish are reared. Furthermore, the content of various nutrients in the feed can be controlled.
The global market was fragmented on the global level with a large number of companies supplying a variety of products. Key players present in the global aquafeed market include Alltech Inc, Biomar, Ridley, Aller Aqua, Dibaq Aquaculture, Addcon Group GmbH and Biomin.
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This has led to an increase in popularity and growth of the market over the past few years. Increasing aquaculture activities is one of the primary factors expected to drive the aquafeed demand over the forecast period. Also, growing human consumption of fish owing to rising consumer awareness about its health benefits is expected to fuel demand for aquafeed over the next few years. However, fluctuating prices of key ingredients used in manufacture fish feed such as fish meal and fish oil is expected to hamper the growth of the market. Global demand for aquafeed was 41,627.6 kilo tons in 2014 and is expected to grow at a CAGR exceeding 11% from 2015 to 2022. In terms of revenue, the market was valued at USD 69,721.9 million in 2014 and is expected to grow at a CAGR of 11.4% from 2015 to 2022. Growing demand for fish and fish oil products owing to rising consumer awareness regarding the health benefits of omega 3 is further expected to expand aquaculture activities, consequently fuelling the demand for aquafeed.
Further key findings from the study suggest:
  • The global aquafeed demand was 37.60 million tons in 2013 and is expected to reach 77.93 million tons by 2022, growing at a CAGR of 11% from 2014 to 2022.
  • Carps were the largest consumers of aquafeed, at 9.70 million tons of global market in 2013. The segment is also expected to witness fastest growth at an estimated CAGR of 11.2% from 2014 to 2022. Carps are rich in omega-3 fatty acids and offer high sources of protein that are low in fat. The growing consumer awareness regarding omega 3 health benefits is expected to drive demand for carps in turn augmenting demand for aquafeed.
  • Mollusks and Crustaceans were the other large application segments for the aquafeed market together accounting for 33% of the global market in 2013. Crustaceans such as lobsters, shrimps and crabs and mollusks such as oysters are increasing being used as exotic food products and improving economic conditions in parts of Asia Pacific is expected to further the demand for aquafeed over the forecast period.
  • Asia Pacific was the most dominant regional market accounting for 65% of global consumption in 2013. The presence of vast aquaculture industry particularly in China is expected to enhance the demand for aquafeed in the region over the next six years.
Amino acids were the largest product segment of the aquaculture additives market in 2014, accounting for over 25% of the revenue share. Proteins are essential macromolecules which are necessary for healthy growth of the fish. Fish are incapable of synthesizing ten indispensable amino acids, viz., methionine, arginine, threonine, tryptophan, histidine, isoleucine, lysine, leucine, valine and phenylalanine. Thus, more and more manufacturers are adding protein sources to aquafeed to enhance growth and improve overall health. Feed acidifiers are expected to witness the highest growth over the next seven years. Feed acidifiers help in improving the level of gastric acids in animals which strengthen their digestion system by regulating assimilation of food. An optimum acid level also helps in destroying harmful bacteria breeding including E Coli and Salmonella in the gastro intestinal tract.
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Carp was the largest application segment of the market, accounting for over 25% of global aquafeed demand in 2014. In addition, demand for aquafeed in carps is expected to be the highest over the forecast period. Carps are rich in omega-3 fatty acids and offer high sources of protein that are low in fat. Demand for carps has been widespread in rice and fish farming as well. Over the past few years, carps are being increasingly reared in rice paddies to feed on insects and other organisms associated with rice culture. These factors are expected to boost demand for carps, in turn, augmenting demand for aquafeed over the forecast period.
Grand View Research has segmented the global aquafeed market on the basis of end use and region. Furthermore, aquafeed additive market has been split on the basis of product segments:
Aquafeed Additives Product Outlook (Revenue, USD Million, 2012 - 2022)
  • Amino Acids
  • Antibiotics
  • Vitamins
  • Feed Acidifiers
  • Others
Aquafeed Application Outlook (Volume, Tons; Revenue, USD Million, 2012 - 2022)
  • Carps
  • Mollusks
  • Crustaceans
  • Salmons
  • Tilapia
  • Catfish
  • Others
Mollusks were the second largest application segment of aquafeed accounting for over 20% of global market volume in 2014. Certain mollusks such as clams and oysters are an important source of food to humans. Increasing meat consumption over the past few years at a global level has led to a growing demand for clams and oysters. In addition, oyster shell extracts are being increasingly used in cosmetics, thereby, propelling market growth. Additionally, clams and mussels are filter feeders that are being increasingly used in maintaining good water quality by filtering nutrients, sediments, and contaminants from the water.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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