Aqua Feed Market
The global aquafeed market is projected to grow at a robust CAGR of 6.8% from 2023 to 2033, according to Future Market Insights. The market is expected to expand significantly, increasing from USD 46.8 billion in 2023 to USD 90.9 billion by 2033.
The rapid growth of fish farming operations is a key driver behind this expansion. Additionally, the rising preference for natural and organic feed products is shaping industry trends, fueling the demand for plant-based aquafeed. As manufacturers prioritize sustainable and high-nutrition feed solutions, the market is set to experience substantial growth throughout the forecast period.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ง๐ ๐๐ซ๐ข๐ฏ๐ ๐๐ฆ๐ฉ๐๐๐ญ๐๐ฎ๐ฅ ๐๐๐๐ข๐ฌ๐ข๐จ๐ง๐ฌ:https://www.futuremarketinsights.com/report-sample#5245502d47422d34353430
Key Takeaways
- The aqua feed market is expected to grow consistently from 2023 to 2033, with a projected US $90.9 billion value by 2033.
- In 2022, the United States emerged as the dominant force in the aqua feed market, commanding a significant market share of 31.2%.
- Germany showcased impressive progress in 2022, attaining a market share of 8.5% and signaling a rising interest in the aqua feed sector.
- The aqua feed market in Japan witnessed substantial expansion in 2022, securing a significant market share of 4.8% and demonstrating its increasing market potential.
- India made a main entry into the aqua feed market in 2022, capturing a market share of 8.0% and showcasing its active involvement and influence within the industry.
Competitors Winning Strategies
Competitors of the aqua feed market are applying many strategies to become a leading company. Companies are focusing on research and development to develop new ingredients which help enhance the health and growth of fish and other aquatic animals. They are opening new feed factories all over the world to meet the growing demand for aqua feed in their regions.
They are making partnerships with other industries as well to accelerate the development of new ingredients also, they get more new customers from other industries.
๐๐๐๐๐ฌ๐ฌ ๐ญ๐ก๐ ๐ ๐ฎ๐ฅ๐ฅ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐๐ซ๐๐ง๐๐ฌ ๐๐ง๐ ๐๐ซ๐จ๐ฃ๐๐๐ญ๐ข๐จ๐ง๐ฌ ๐๐จ๐ฐ: https://www.futuremarketinsights.com/reports/aquafeed-market
Key Players
- Cargill, Incorporated
- Charoen Pokphand Foods PCL
- BioMar Group
- Ridley Corporation Limited
- Aller Aqua
- Biostadt India Limited
- BENEO
- Alltech
- INVE Aquaculture
- AKER BIO MARINE
- Skretting
- Purina Animal Nutrition LLC
- Dibaq Aquaculture
- Avanti Feeds Limited
- The Waterbase Limited
Recent Developments:
- Aller Aqua:ย Aller Aqua revealed its relationship with the Bayrise fish farm in Kenya to its long-term development with high-quality goods that will enhance aquaculture in Kenya.
- BioMar:ย BioMar and Mols Bjerge mutually started an effort to repair eelgrass ecosystems. The project, referred to as โHavets Grรธnne Engeโ, will contribute to the sea environment and lower CO2 from the atmosphere.
- Cargill:ย Cargill confirmed the official launch of its newest fish feed plant, Lotus II, in Vietnam. The fish feed plant includes two lines with an output of approximately 100,000 tons annually.
Animal Nutrition Industry Analysis: https://www.futuremarketinsights.com/industry-analysis/animal-nutrition
Aquafeed Market by Category
By Species:
- Crustaceans
- Fish
- Others
By Form:
- Extruded
- Powder
- Liquid
- Pellets
By Function:
- Health
- Digestion
- Palatability
- Special Nutrition
By Ingredients:
- Marine
- Land Animal
- Veg/Grain
- Carotenoid
- Nutrients
- Others
By Sales Channel:
- Direct Sales
- Indirect Sales
- Hypermarket
- Supermarket
- Wholesalers
- Speciality Stores
- Online
- Other Retail Formats
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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