Market Overview:
The Commercial Aquafeed Market is expected to grow from USD 58.19 Billion in 2023 to USD 85.17 Billion in 2033 at a compound annual growth rate (CAGR) of 5.5%.
The Global Commercial Aquafeed Market 2023-2033 is projected to experience robust growth in the upcoming years. Market trends that are evolving have boosted consumer demand. Additionally, it is anticipated that shifting consumer attitudes about product safety and security will increase demand for the Commercial Aquafeed Market throughout the forecast period. Also, one of the main factors driving consumer demand is the rise in demand for sophisticated and high-tech products.
The outbreak of COVID-19 has had a heavy impact on businesses around the world. Many businesses have been forced to close their doors, while others have had to drastically change the way they operate. The pandemic has also taken a toll on the global economy, with many businesses struggling to survive.
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Aquafeed is formulated feed that is sold to aquaculture fish species. Aquafeed is an integral part of modern aquaculture practices. It provides balanced nutrition to support the growth, health, and performance of farmed fish and other aquatic species. Aquafeed is usually formulated with a mixture of ingredients such as fishmeal and fish oil. It also contains plant proteins, vitamins, minerals, grains, and other nutrients to meet the nutritional needs of various aquatic species at different life stages.
Due to the growing demand for aquaculture products and seafood, the global commercial aquafeed market is experiencing significant growth. To improve the nutritional quality of their products and to ensure sustainability, aquafeed producers are investing heavily in research and development. Technological advancements in aquafeed production are also driving the market. There is increasing awareness about aquaculture’s environmental impact and the need to find sustainable feed solutions.
Key Takeaways:
- The commercial aquafeed market is growing because of the increasing demand for aquaculture and seafood products. As the world population continues to grow, so does the demand for aquaculture products and seafood as a sustainable source of protein.
- Market growth is being driven by technological advancements in aquafeed production such as the introduction of novel ingredients and improved formulations. To improve nutritional quality and sustainability, aquafeed producers are investing continuously in research and development.
- The Asia-Pacific region is the largest market for commercial aquafeed. Countries such as China and India are major aquaculture producers and consumers. This region is seeing a rise in demand for commercial aquafeed due to rising disposable incomes, changing dietary habits, and growing awareness about the health benefits associated with seafood.
- Overfishing and pollution are driving a shift to sustainable aquafeed production. Aquafeed manufacturers have the opportunity to create eco-friendly feed formulations that use alternative protein sources such as microalgae and insect meal.
- Market dynamics are being influenced by increasing government regulations and guidelines in aquaculture and aquafeed production. Aquafeed products that are certified have been adopted because of stringent regulations regarding feed safety, quality, and sustainability.
Prominent players in the market:
Nexus Feeds Ltd., Avanti Feeds Ltd., The Waterbase Ltd., Mulpuri Foods and Feeds Pvt. Ltd., Godrej Agrovet Ltd., Growel Feeds Private Limited, C.P. Aquaculture India Pvt. Ltd., Uno Feeds, Deepak Nexgen Feed Pvt. Ltd., Indian Broiler Group, Kwality Feeds Ltd., Grobest Feeds Corporation India Ltd.
◉ Key Player’s Profiles with their Startups
◉ Growth & Revenue record
◉ Company development per year
◉ Business Strategies
The competitive landscape of the Commercial Aquafeed market is comprehensively analyzed with a focus on the nature of the competition in the market and future changes related to the competition in the market. In-depth analysis of the economic impact, changes to regulation and customer behavior, as well as changes in purchase criteria, in competitive analysis.
Table of Content.
➢ Report Overview: It includes the objectives and scope of the study and provides an overview of the key market segments and games covered. It also includes the years considered for the research study.
➢ Executive Summary: It covers industry trends focusing on market use cases and key market trends, market size by region and global market size. It also includes market share and regional growth rates.
➢ Key Players: The report covers mergers and acquisitions as well as expansions. It also analyzes key players and the date of establishment.
➢ Breakdown by Product and Application: This section provides market size details by product and application.
➢ Regional Analysis: This report covers all countries and regions based on their market size, key players and forecasts.
➢ Profiles of International Players: These players are ranked based on their market share and sales.
➢ Market Dynamics: It includes supply chain analysis, regional market analysis, challenges, opportunities and drivers analyzed in the report.
➢ Appendix: It contains information about the research and methodology approach, data sources, authors, and a disclaimer.
Segmentation of the global Commercial Aquafeed market:
By Types:
Amino acids
Antibiotics
Vitamins
Feed Acidifiers
Others
By Applications:
Mollusks
Carp
Salmon
Catfish
Others
Countries Studied:
✧ America (Argentina, Canada, Colombia, Mexico, Peru, United States, Brazil)
✧ Europe (Austria, Belgium, Denmark, France, Sweden, Switzerland, Rest of Europe)
✧ Middle East and Africa (Egypt, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain)
✧ Asia-Pacific (Australia, Bangladesh, China, South Korea, Sri Lanka, Thailand, India, Indonesia)
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5. To better understand market prospects and opportunities.
Market Drivers:
- There is an increasing demand for aquaculture and seafood products: With the growing global population, there is a rising demand for sustainable sources of protein. Commercial aquafeed is a vital component of modern aquaculture practices that support the growth and performance for farmed fish.
- Technological advances in aquafeed production Market growth is being driven by technological advancements such as improved formulations and novel ingredients. These innovations help to improve the feed conversion ratio, reduce feed waste, and improve the performance of farmed fish.
- Consumer awareness is growing about the benefits of seafood. This is driving demand for aquaculture products. To support the production and consumption of nutritious and healthy seafood, there is a growing demand for aquafeed.
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