Aquafeed Market worth 168.23 Bn USD by 2021

Tuesday 12 April 2016, Amsterdam

The report, now available on ASDReports, "Aquafeed Market by Ingredients (Corn, Soybean, Fishmeal, Fish Oil, Additives, & Others), Aquatic Animal Type (Carp, Shrimp, Crustaceans, Mollusks, & Others), Fishmeal & Fish Oil End Use, & by Region - Global Trends & Forecasts to 2021", The aquafeed market is estimated to be valued at USD 90.96 Billion in 2015. It is projected to grow at a CAGR of 10.8% from 2016 to 2021 and reach USD 168.23 Billion by 2021.

The aquafeed market is projected to grow at a CAGR of 10.8% from 2016 to 2021. The major types of aquafeed ingredients derived from corn, soybean, fish meal, fish oil, and additives have been in demand owing to the growing demand for advanced aquafeed products and a shift in consumer’s preference to healthier and nutritive premium sea-food products, especially for carps and crustaceans aquatic type animals. The market demand for mixed aquafeed varieties has also experienced higher than average growth, as they combine the useful characteristics of nourishment & sustainability. Hence, aquafeed will be viewed as a business opportunity in the next five years.

Carp and crustaceans aquatic animal types to dominate the aquafeed market

Carps and crustaceans have been projected to lead the market in terms of value and volume and are projected to grow at comparatively higher CAGRs than most aquafeed products for other aquatic animal types. Large and medium-sized players have adopted new product development strategy for carp and crustacean aquafeed products to expand their businesses, globally, by investing in the development of the R&D sector to create and launch various new innovative products of this segment in the market.

Soybean: The most utilized ingredient of aquafeed product globally

The soybean ingredient accounted for the largest share in the aquafeed market by ingredients in terms of value and volume in the year 2015. However, the corn ingredient of is projected to grow at a comparatively higher CAGR due to its consumption as a plant protein source in the replacement for expensive fishmeal and fish oil ingredients in aquafeed production.

Asia-Pacific accounted for the largest market share due to increased demand for premium sea food

Countries in the Asia-Pacific and Latin American regions are thriving in terms of growing contribution of the aquaculture toward the GDP with high levels of product development and marketing. The rising population levels have also created the demand for nutritious and healthy aquaculture foods, globally. Increasing per capita disposable income in these regions is another driver for the increased consumption of high-quality sea-food products, parallely boosting the aquafeed industry.

This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading companies such as Cargill Inc. (U.S.), Nutreco N.V. (The Netherlands), BioMar Group A/S (Denmark), Ridley Corporation (Australia), Alltech Inc. (U.S.), Nutriad-Ad International N.V. (Belgium), Aller Aqua A/S (Denmark), and BIOMIN Holding GmbH (Austria).

The report covers aquafeed aquatic animal types such as carp, shrimp, crustaceans, mollusks, and others and ingredients like corn, maize, rice, soybean, and additives in terms of value & volume. In terms of insights, this research report has focused on various levels of analyses—industry analysis, market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging & high-growth segments of the global aquafeed market, high-growth regions, countries, and their respective regulatory policies, government initiatives, drivers, restraints, opportunities, and challenges.