Shrimp Feed

Shrimp Feed

Global Shrimp Feed Market to Reach US$8.3 Billion by 2030

The global market for Shrimp Feed estimated at US$6.7 Billion in the year 2023, is expected to reach US$8.3 Billion by 2030, growing at a CAGR of 3.2% over the analysis period 2023-2030. Grower Grade Feed, one of the segments analyzed in the report, is expected to record a 2.8% CAGR and reach US$3.6 Billion by the end of the analysis period. Growth in the Finisher Grade Feed segment is estimated at 3.6% CAGR over the analysis period.

The U.S. Market is Estimated at US$1.8 Billion While China is Forecast to Grow at 6.1% CAGR

The Shrimp Feed market in the U.S. is estimated at US$1.8 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.7 Billion by the year 2030 trailing a CAGR of 6.1% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.0% and 2.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.7% CAGR.

Global Shrimp Feed Market - Key Trends and Drivers Summarized

Shrimp feed is a specialized type of aquaculture feed designed to meet the nutritional needs of farmed shrimp, which has become increasingly important as global demand for shrimp continues to rise. This feed is formulated to promote healthy growth, maximize feed conversion ratios, and reduce the environmental impact of shrimp farming. Key ingredients typically include high-quality sources of protein, such as fish meal and soybean meal, along with essential vitamins, minerals, and amino acids that ensure optimal shrimp health and growth. The quality of the feed not only influences the growth rate and health of the shrimp but also affects the overall sustainability of the farming operation by minimizing waste and preventing water pollution.

As the shrimp aquaculture industry evolves, there is a growing focus on improving the efficiency and sustainability of shrimp feed. Innovations in feed composition include the reduction of fish meal as a primary protein source, replacing it with more sustainable alternatives like plant-based proteins, algae, and insect meal. These changes are driven by ecological concerns and the need to reduce dependency on wild fish stocks, which are often overexploited to produce fish meal. Additionally, the integration of probiotics and prebiotics into shrimp feed formulations has become more commonplace, aiming to enhance gut health and immunity, thereby reducing the need for antibiotics in shrimp farming—a practice that aligns with global trends towards more natural food production methods.

The growth in the shrimp feed market is driven by several factors, including technological advancements in feed manufacturing processes that improve the digestibility and nutrient absorption of the feed. These advancements help to reduce the amount of feed required and decrease production costs, making shrimp farming more profitable and sustainable. Another significant driver is the expanding global market for seafood, which pressures the industry to increase production efficiency and sustainability. Consumer behavior also influences market growth; there is increasing demand for sustainably farmed shrimp, which compels feed producers to innovate and develop products that contribute to environmentally friendly farming practices. Regulatory changes and environmental policies further support the development of advanced feed solutions that minimize the environmental impact of shrimp farming. The interplay of these factors ensures ongoing innovation and growth in the shrimp feed industry, catering to both economic and environmental needs.

Select Competitors (Total 25 Featured) -

• Aller Aqua Group
• Avanti Feeds Limited
• Bern Aqua NV
• BioMar Group
• BMR group
• Cargill, Inc.
• Charoen Pokphand Foods Public Company Limited
• Coastal Feeds
• Deloa Aqua
• Devi Sea Foods Limited
• Godrej Agrovet Limited
• Grobest Group Limited
• Mahesh Aqua Holdings (Pvt) Ltd
• Pasupati Agrovet Pvt. Ltd
• Skretting AS
• Valueman Organic Agritech Private Limited;

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