New York, June 28, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aquaculture Feed Global Market Report 2023" - https://www.reportlinker.com/p06463975/?utm_source=GNW
AS, Avanti Feeds Limited, Ocean Star International (OSI), Ridley Corporation Limited, Guangdong Haid Group Co. Ltd., Tongwei Group Co. Ltd., Betagro Group, and De Heus.
The global aquaculture feed market is expected to grow from $69.90 billion in 2022 to $76.52 billion in 2023 at a compound annual growth rate (CAGR) of 9.5%. TThe Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The aquaculture feed market is expected to reach $103.60 billion in 2027 at a CAGR of 7.9%.
The aquaculture feed market consists of sales of wet feeds, moist feeds, dry feeds, larval feeds, and wet feeds.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Aquaculture feed refers to the food provided to aquatic species in a controlled environment to ensure their growth, health, and productivity. Aquaculture feed’s objective is to provide dietary requirements for the species to maintain a highly effective natural immune system and breeding.
Asia-Pacific was the largest region in the Aquaculture feedmarket in 2022. The regions covered in aquaculture feed report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of aquaculture feed products are pellets, extruded, powdered, and liquid.Pellets refer to a food or medicine that has a typically tiny, cylindrical, rounded, or spherical body.
The various types of ingredients are soybeans, corn, fishmeal, fish oil, additives, and others. These are used to feed several types of species, including carp, marine shrimp, tilapia, catfish, marine fish, salmon, freshwater (FW) crustaceans, trout, and others, which are sold through various distribution channels, including store-based and online, for commercial and household users.
The increasing demand for seafood is expected to propel the growth of the aquaculture feed market going forward.Seafood refers to aquatic creatures and fish that can be eaten by humans, such as fish, shrimp, and even octopuses.
Seafood is harvested or farmed for human consumption and is a significant source of protein and nutrients.Aquaculture feed is one of the most effective ways to develop high-quality seafood for human consumption.
For instance, in June 2022, according to an article published by The Sea Fish Industry Authority, a UK-based non-departmental public body, in the UK, seafood intake (both at home and away from home) totalled 162.98g per person per week in 2020, an increase of 1.0% from the year before. This translates to a little more than one (1.16), 140-gram serving per person each week. Therefore, the demand for seafood and frozen seafood of high quality is driving the aquaculture feed market.
Product innovations are a key trend gaining popularity in the aquaculture feed market.Major players operating in the aquaculture feed market are concentrating their efforts on innovating new products to sustain their position in the market.
For instance, in December 2021, INVE Aquaculture, a Belgium-based aquaculture feed producer, launched Natura pRo and ExL feed lines, the first ever rotifier substitution diets.It allows hatcheries to reduce their rotifer requirements by more than half, enhancing fry quality and survival rates.
It also give technical and nutritional support from the start of exogenous feeding until weaning. The Natura pRo formulation pays great attention to ingredient selection to provide excellent nutritional digestion and palatability, ensuring that the feed is appetising to larvae from the start of exogenous feeding.
In November 2022, Cooke Aquaculture Inc., a Canada-based aquaculture feed producer, acquired Tassal Group of Australia for $1.5 billion. With this acquisition, Cooke Aquaculture Inc. would join the Tasmanian aquaculture industry and welcome Tassal’s 1,700 employees. This deal is the largest-ever purchase for Cooke Aquaculture. Tassal Group of Australia is an Australia-based seafood producer.
The countries covered in the aquaculture feed market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The aquaculture feed market research report is one of a series of new reports that provides aquaculture feed market statistics, including aquaculture feed industry global market size, regional shares, competitors with a aquaculture feed market share, detailed aquaculture feed market segments, market trends and opportunities, and any further data you may need to thrive in the aquaculture feed industry. This aquaculture feed market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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