Aquafeed Market (Type - Fish, Crustaceans, Mollusks, and Others; Ingredient - Soybean, Fishmeal, Fish Oil, Corn, Additives, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2028

A recent report published by Infinium Global Research on the aquafeed market provides an in-depth analysis of segments and sub-segments in the global as well as regional aquafeed market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional aquafeed market over the short term as well as the long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global aquafeed market. According to the report, the global aquafeed market is projected to grow at a CAGR of over 5% over the forecast period of 2022-2028. 

Market Insight

Aquafeeds are produced meals for aquatic animals by combining a variety of additives and raw materials. These mixtures are made in accordance with the specific requirements of the animal's species and age. Aquafeed's nutritional, immune-suppressing, and growth-promoting qualities have made it essential to the aquaculture sector. Due to their balanced and need-specific composition, high-quality aquafeed is significantly more advantageous to fish, mollusks, crustaceans, and other aquatic creatures than farm-made feed. 

Increased aquaculture production is anticipated as a result of rising consumer spending on fish and fish-related products including fish oil, fish meal, and fish silage as well as rising seafood consumption. Additionally, it is anticipated that the growing commerce in seafood across numerous international countries and the rising need for animal protein in developed western economies will both contribute to the market's expansion in the years to come. The market's growth is anticipated to be positively impacted by the rising investments made by market participants and associations in the research and development of novel goods. The market's expansion may be hampered by the high price fluctuation of the raw materials used in the manufacturing of the feed. 

Meat consumption in the Asia-Pacific region is associated with consumer income in several nations. India is one of the nations that fit within this category. However, in order to meet their dietary needs for protein, individuals have tended to favor fish and other seafood. The demand for aquafeed products in India has increased as a result of this increase in awareness. Although most farmers still feed aquatic species with conventional feeds like groundnut cake, rice/wheat bran, and other agricultural products, the shift to commercial feed would ultimately change. India's labor prices are competitive, but its feed and energy costs are extremely non-competitive. 

Segment Covered

The report on the global aquafeed market covers segments such as type, and ingredients. On the basis of type, the sub-markets include fish, crustaceans, mollusks, and others. On the basis of ingredients, the sub-markets include soybean, fishmeal, fish oil, corn, additives, and others. 

Companies Profiled:

The report provides profiles of the companies in the market such as Cargill, Incorporated, BioMar Group, Ridley Corporation Limited, Aller Aqua Group, BENEO, Alltech, Aker BioMarine, Charoen Pokphand Foods PCL, Skretting, and Purina Animal Nutrition LLC. 

Report Highlights:

The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the aquafeed market. Moreover, the study highlights current market trends and provides forecasts from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players.