1 INTRODUCTION 17
1.1 OBJECTIVES OF THE STUDY 17
1.2 MARKET DEFINITION 17
1.3 STUDY SCOPE 18
1.4 PERIODIZATION CONSIDERED 19
1.5 CURRENCY CONSIDERED 20
1.6 VOLUME UNIT CONSIDERED 20
1.7 STAKEHOLDERS 21

2 RESEARCH METHODOLOGY 22
2.1 RESEARCH DATA 22
2.1.1 SECONDARY DATA 23
2.1.2 PRIMARY DATA 23
2.1.2.1 Key industry insights 23
2.1.2.2 Breakdown of primary interviews 24
2.2 MARKET SIZE ESTIMATION 24
2.3 DATA TRIANGULATION 26
2.4 RESEARCH ASSUMPTIONS 27
2.5 LIMITATIONS 27

3 EXECUTIVE SUMMARY 28

4 PREMIUM INSIGHTS 32
4.1 OPPORTUNITIES IN THE AQUAFEED MARKET 32
4.2 AQUAFEED MARKET, BY SPECIES & REGION, 2018 32
4.3 ASIA PACIFIC: AQUAFEED MARKET, BY INGREDIENT & COUNTRY 33
4.4 AQUAFEED MARKET, BY FORM 34
4.5 AQUAFEED MARKET, BY KEY COUNTRY 34

5 MARKET OVERVIEW 35
5.1 INTRODUCTION 35
5.2 MARKET DYNAMICS 35
5.2.1 DRIVERS 36
5.2.1.1 Growth in the aquaculture industry 36
5.2.1.2 Rise in seafood trade propelling the demand 36
5.2.2 RESTRAINTS 37
5.2.2.1 Fluctuations in raw material prices 37
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5.2.3 OPPORTUNITIES 38
5.2.3.1 Growth in support from governments 38
5.2.3.2 Development of innovative products as a source of protein 38
5.2.4 CHALLENGES 38
5.2.4.1 Growth in environmental and human health concerns 38
5.3 REGULATORY FRAMEWORK 39
5.3.1 CHINA 39
5.3.2 EUROPEAN UNION 39
5.3.3 JAPAN 40
5.3.4 SOUTH AFRICA 40
5.4 VALUE CHAIN FRAMEWORK 40

6 AQUAFEED MARKET, BY INGREDIENT 41
6.1 INTRODUCTION 42
6.2 SOYBEAN 43
6.2.1 PROCESSED SOYBEAN IS THE WORLD’S LARGEST SOURCE OF ANIMAL PROTEIN FEED 43
6.2.1.1 Soybean meal 43
6.2.1.2 Soy oil 43
6.2.1.3 Soy lecithin 44
6.3 FISHMEAL 44
6.3.1 FISHMEAL IMPROVES THE OVERALL EFFICIENCY OF THE FEED AND AIDS IN DIGESTION 44
6.4 CORN 45
6.4.1 CORN OIL IS A LOW-COST ALTERNATIVE TO ANIMAL FEED PROTEINS USED IN AQUACULTURE 45
6.4.1.1 Corn gluten meal 45
6.4.1.2 Corn gluten feed 45
6.4.1.3 Corn oil 45
6.5 FISH OIL 46
6.5.1 FISH OIL IS A VALUABLE FEED INGREDIENT FOR THE AQUACULTURE INDUSTRY 46
6.6 ADDITIVES 47
6.6.1 THE GROWING DEMAND FOR HIGH-PROTEIN DIETS IS AIDING THE GROWTH OF ADDITIVES 47
6.7 OTHERS 48
6.7.1 WHEAT HAS GOOD PELLET-BINDING PROPERTIES DUE TO WHICH IT IS PREFERRED IN FEED AS AN ALTERNATIVE INGREDIENT 48
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7 AQUAFEED MARKET, BY ADDITIVE 49
7.1 INTRODUCTION 50
7.2 AMINO ACIDS 51
7.2.1 AMINO ACIDS AID IN OVERCOMING DIETARY DEFICIENCIES IN AQUATIC ANIMALS 51
7.3 VITAMINS & MINERALS 52
7.3.1 VITAMINS AID IN COPING WITH THE DEFICIENCIES AND DEFORMITIES IN YOUNG, DEVELOPING FISH 52
7.4 PROBIOTICS & PREBIOTICS 52
7.4.1 USE OF PROBIOTICS & PREBIOTICS ENHANCING THE GUT HEALTH OF AQUATIC ANIMALS 52
7.5 ENZYMES 53
7.5.1 FEED ENZYMES AID IN NUTRIENT ABSORPTION DUE TO WHICH ITS APPLICATION IS GROWING IN FEED 53
7.6 ANTIBIOTICS 54
7.6.1 OUTBREAK OF INFECTIOUS DISEASES IN AQUATIC ANIMALS LEADING TO THE ADOPTION OF ANTIBIOTICS 54
7.7 ANTIOXIDANTS 54
7.7.1 RISE IN DEMAND FOR FISH FEED STEERING THE GROWTH OF ANTIOXIDANTS AS AN ADDITIVE 54
7.8 OTHERS 55
7.8.1 ADDITION OF CAROTENOIDS ENHANCING THE COMMERCIAL VALUE OF FISH 55

8 AQUAFEED MARKET, BY SPECIES 56
8.1 INTRODUCTION 57
8.2 FISH 58
8.2.1 FISH IS THE LARGEST CONSUMER OF AQUAFEED INGREDIENTS AMONG ALL SPECIES 58
8.2.2 TILAPIA 59
8.2.3 SALMON 59
8.2.4 CARP 59
8.2.5 TROUT 59
8.2.6 OTHERS 59
8.3 CRUSTACEANS 60
8.3.1 GROWTH IN SHRIMP PRODUCTION TO BOOST THE AQUAFEED CONSUMPTION AMONG CRUSTACEANS 60
8.3.2 SHRIMP 61
8.3.3 CRABS 61
8.3.4 KRILL 61
8.3.5 OTHERS 61
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8.4 MOLLUSKS 62
8.4.1 OYSTERS AND MUSSELS ARE THE MOST WIDELY CULTURED GROUPS UNDER MOLLUSKS 62
8.4.2 OYSTERS 62
8.4.3 MUSSELS 62
8.4.4 OTHERS 63
8.5 OTHERS 63

9 AQUAFEED MARKET, BY FORM 64
9.1 INTRODUCTION 65
9.2 DRY FORM 66
9.2.1 THE FREE-FLOWING STRUCTURE AND CONSISTENCY OF THE DRY AQUAFEED MAKES IT A PREFERRED FORM 66
9.3 WET FORM 67
9.3.1 THE WET FORM OF FEED IS USED TO MEET THE REQUIREMENTS OF CARNIVOROUS FISH 67
9.4 MOIST FORM 68
9.4.1 THE MOIST FORM IS MORE PALATABLE TO AQUATIC ANIMALS DUE TO ITS SOFT CONSISTENCY 68

10 AQUAFEED MARKET, BY LIFECYCLE 69
10.1 INTRODUCTION 70
10.2 GROWER FEED 71
10.2.1 GROWER FEED IS ADMINISTERED TO MEET THE PROTEIN REQUIREMENTS OF SMALL FISH 71
10.3 FINISHER FEED 72
10.3.1 PROTEIN LEVELS IN FINISHER FEED VARY BY DIFFERENT SHRIMP SPECIES 72
10.4 STARTER FEED 73
10.4.1 STARTER FEED AIDS IN IMPROVING THE DIGESTION AND NUTRITIONAL INTAKE OF SMALL AQUATIC ANIMALS 73
10.5 BROODER FEED 74
10.5.1 BROODERS OUGHT TO RECEIVE NATURAL FOOD INGREDIENTS AND ARTIFICIAL FEEDS TO ENSURE BETTER REPRODUCTION 74

11 AQUAFEED MARKET, BY REGION 75
11.1 INTRODUCTION 76
11.2 NORTH AMERICA 77
11.2.1 US 80
11.2.1.1 Growth in affinity toward the consumption of seafood products to drive growth 80
11.2.2 MEXICO 81
11.2.2.1 Government initiatives to promote the consumption of seafood to drive growth 81
11.2.3 CANADA 83
11.2.3.1 Rise in market exports to promote the aquafeed market in the country 83
11.3 EUROPE 84
11.3.1 NORWAY 87
11.3.1.1 The thriving aquaculture industry is expected to drive the market for aquafeed 87
11.3.2 GREECE 88
11.3.2.1 Increase in seafood production to drive the market for aquafeed 88
11.3.3 UK 89
11.3.3.1 Rise in seafood consumption driving the market for aquafeed 89
11.3.4 RUSSIA 90
11.3.4.1 Government incentives are expected to propel the market for aquafeed 90
11.3.5 SPAIN 91
11.3.5.1 The country’s vast mollusk population drives the aquafeed market 91
11.3.6 REST OF EUROPE 92
11.3.6.1 Growth in seafood production in the region is expected to drive growth 92
11.4 ASIA PACIFIC 94
11.4.1 CHINA 97
11.4.1.1 Growth in the aquaculture industry to propel the market growth for aquafeed 97
11.4.2 VIETNAM 98
11.4.2.1 Seafood forming: An important dietary requirement to drive growth 98
11.4.3 THAILAND 99
11.4.3.1 Rise in demand for exotic seafood products to drive the market for aquafeed 99
11.4.4 INDONESIA 101
11.4.4.1 Increase in production from freshwater aquaculture to drive growth 101
11.4.5 INDIA 102
11.4.5.1 A shift toward intensive aquafarming is expected to propel market growth 102
11.4.6 REST OF ASIA PACIFIC 103
11.4.6.1 Seafood is considered a healthy dietary constituent to drive market growth 103
11.5 SOUTH AMERICA 104
11.5.1 CHILE 107
11.5.1.1 Large fish farming areas and suitable climatic conditions aid market growth for aquafeed in the country 107
11.5.2 BRAZIL 108
11.5.2.1 Favorable government opportunities formulated to propel aquaculture in the country 108
11.5.3 REST OF SOUTH AMERICA 109
11.5.3.1 Increased demand for aquaculture products has been driving the demand for aquafeed products in the region 109
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11.6 REST OF THE WORLD 110
11.6.1 AFRICA 113
11.6.1.1 Low development of aquaculture has led to a smaller market for aquafeed in the region 113
11.6.2 MIDDLE EAST 114
11.6.2.1 Rise in demand for value-added processed seafood products to drive market growth 114
12 COMPETITIVE LANDSCAPE 116
12.1 OVERVIEW 116
12.2 COMPETITIVE LEADERSHIP MAPPING 116
12.2.1 DYNAMIC DIFFERENTIATORS 116
12.2.2 INNOVATORS 116
12.2.3 VISIONARY LEADERS 117
12.2.4 EMERGING COMPANIES 117
12.3 COMPETITIVE LEADERSHIP MAPPING (FOR START-UPS/SMES) 119
12.3.1 EMERGING LEADERS 119
12.3.2 STARTING BLOCKS 119
12.3.3 PROGRESSIVE COMPANIES 119
12.3.4 DYNAMIC CAPITALIZERS 119
12.4 COMPETITIVE SCENARIO 121
12.4.1 NEW PRODUCT LAUNCHES 121
12.4.2 EXPANSIONS & INVESTMENTS 121
12.4.3 ACQUISITIONS 122
12.4.4 PARTNERSHIPS, JOINT VENTURES, COLLABORATIONS, AND AGREEMENTS 123
13 COMPANY PROFILES 124
(Business overview, Products offered, Recent developments, SWOT analysis & MnM View)*
13.1 ARCHER DANIELS MIDLAND COMPANY 124
13.2 CARGILL 127
13.3 RIDLEY CORPORATION LIMITED 131
13.4 NUTRECO 134
13.5 ALLTECH 137
13.6 PURINA ANIMAL NUTRITION 140
13.7 NUTRIAD 142
13.8 ALLER AQUA A/S 144
13.9 BIOMIN 146
13.10 BIOMAR 148
13.11 NOREL ANIMAL NUTRITION 151
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13.12 AVANTI FEEDS LIMITED 153
13.13 DEHEUS 154
13.14 NOVUS INTERNATIONAL 156
13.15 BIOSTADT INDIA LIMITED 157
*Details on Business overview, Products offered, Recent developments, SWOT analysis & MnM View might not be captured in case of unlisted companies.
14 APPENDIX 158
14.1 DISCUSSION GUIDE 158
14.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 161
14.3 AVAILABLE CUSTOMIZATIONS 163
14.4 RELATED REPORTS 163
14.5 AUTHOR DETAILS 164