Aquafeed Market to reach over $109 billion by 2026, Says Global Market Insights, Inc.

Aquafeed Industry size is set to register more than 4% CAGR between 2020 and 2026, impelled by increasing consumption of protein-rich fish products.

Selbyville, Delaware, Oct. 21, 2020 (GLOBE NEWSWIRE) --

Global aquafeed market value is set to surpass USD 109 billion by 2026, according to a new research report by Global Market Insights, Inc. Increasing number of fisheries and rising importance of leading a healthy dietary lifestyle is expected to foster the aquafeed industry growth.

Increasing consumer awareness regarding the need for maintaining a healthy dietary lifestyle is expected to drive consumer attention towards the consumption of seafood. The increasing demand for food dishes made from raw fish is likely to raise the product demand. The ability of aquafeed to reduce the occurrence of fin and gill infections in various aquatic species may foster the market outlook. Increasing aquafeed production in different regions of the world coupled with the increasing awareness regarding the use of plant-based aquafeed solutions among aquatic farmers is likely to boost growth of aquafeed and aquaculture additives market.  

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The industry for crustaceans is expected to witness an upsurge in the coming years owing to the numerous benefits offered by crustaceans such as omega fatty acids, vitamins, minerals and excellent source for several essential amino acids. The ability of aquafeed to improve the immune system and increase the lifespan of crustacean species is likely to raise product demand. Aquafeed market through crustaceans’ segment is expected to reach USD 17.20 billion by 2026. The increasing applications of canned, frozen and fresh salmon in different seafood dishes is likely to escalate product demand. The increasing cultivation of Atlantic salmon in European nation such as Scotland, Norway and Ireland is expected to drive aquafeed and aquaculture additives industry demand.

Some major findings of aquafeed market report include:

  • The demand for aquafeed and aquaculture additives is rising owing to increasing instances of disease outbreaks in aquatic species.
  • Increasing awareness regarding the importance of consuming protein-rich healthy food is likely to promote growth of aquafeed and aquaculture additives market.
  • Increasing aquafeed production in countries such as Mexico and Peru may boost market trends.
  • Sustainable farming practices coupled with the increasing applications of mollusks in pharmaceutical and therapeutic sector is likely to raise the demand for mollusks in the coming years.
  • Mollusks segment is expected to register over 4.3% CAGR throughout the review period.
  • Key players in the aquafeed market include, Norel Animal Nutrition, Archer Daniels Midland (ADM), BioMar A/S, Alltech, Nutriad International, BASF SE. ADDCON, Novus International, Dibaq A.S., Alicorp, Growel Feeds, Ridley Corporation, Biomin Holding Gmbh, Avanti Feeds Ltd., DSM, Evonik Industries, Aller Aqua Beneo Ingredients GmbH, Purina Animal Nutrition LLC, Cargill, Inc., NK Ingredients Pte. Ltd., De Heus Animal Nutrition, Skretting.
  • Eurythermic nature and adaptability to a diverse range of climatic conditions may raise the demand for carp in the near future.
  • Carps segment of the industry is expected to reach USD 26.55 billion by 2026.
  • Manufacturers are heavily investing in R&D to sustain the increasing market competition.
  • Stringent regulations imposed by governments of different countries to restrict fishing activities in certain regions may decline market growth to some extent.  

Browse key industry insights spread across 290 pages with 332 market data tables and 48 figures & charts from the report, “Aquafeed Market Analysis By Application (Crustaceans, Mollusks, Carp, Salmon, Catfish, Tilapia), Aquaculture Additives Market Size By Product (Amino Acids, Antibiotics, Vitamins, Feed Acidifiers) Industry Analysis Report, Regional Outlook  Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:

The use of feed acidifiers as an aquaculture additive is expected to rise in the near future owing to its ability to preserve food, reduce pathogen impacts and improve feed conversion rate. The conserving properties of feed acidifiers aid in reducing the pH of the feed and inhibit microbial and other pathogenic growth, thus raising the product demand. Aquaculture additives market through feed acidifiers segment is expected to reach USD 154.66 million by 2026 growing at a CAGR of 6.2% over the assessment period.

Asia Pacific aquafeed and aquaculture additive market is expected to witness healthy growth during the forecast period. This is mainly attributed to abundant resource availability, inexpensive labor and ambient environmental conditions supporting growth of aquaculture industry. China, Vietnam, Philippines, Thailand and India are some of the major producers and exporters of aquafeed and aquaculture additives in the region. Increasing freshwater and marine fishing activities in the region may drive market trends. Asia Pacific aquafeed market is expected to grow at a CAGR of 4.3% over the assessment period.       

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Browse Related Report:

Fish Protein Hydrolysate Market By Application (Animal Feed [Poultry {Broilers, Layers}, Swine, Calves, Aquaculture {Salmon, Trouts, Shrimps}, Equine], Pet Food [Cat, Dog], Food (Flavor Enhancers, Functional Food, Infant Formulation, Nutraceuticals, Sports Nutrition, Protein Supplements, Elderly Food Formulation, Clinicals), Cosmetics [By Protein Type {Collagen (Glycine, Hydroxylysine, Proline), Elastin, Keratin}], Agriculture [Fertilizers, Protection, Elicitor], Pharmaceutical), Technology (Acid Hydrolysis, Enzymatic Hydrolysis), Form (Powder, Paste, Liquid), Source (Anchovy, Tilapia, Tuna, Sardine, Atlantic Salmon, Crustacean, Molluscs, Codfish), Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020-2026

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.


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