China Aquafeed Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

China Aquafeed Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The China aquafeed market size reached 15.7 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 24.3 Million Tons by 2028, exhibiting a growth rate (CAGR) of 7.4% during 2023-2028.

The feeds are compounded meals available in various forms which provide nutrition in a stable and concentrated form, enabling the aquatic animals to grow efficiently and to their full potential. These blends are prepared and provided to the aquatic animals according to the specific requisite of the species and their age. Aquafeed plays a major role in providing normal growth and health of the aquatic animals.

China is currently the leading producer, consumer and exporter of aquafeed globally, more specifically, a leading producer of fish feed as well. The country has also dominated in the global aquaculture production for almost two decades. In 2019, coastal fishing ban in China led to a rise in the aquaculture and marine culture, which further increased the growth of the fish feed demand, thereby increasing the need to produce high quality and more formulated feeds in the country. Moreover, factors such as increasing seafood consumption in China coupled with the rising consumer awareness about the seafood quality are further escalating the demand for aquafeed in the region. In addition to this, the Chinese government is also taking various initiatives to strengthen the aquaculture industry in order to increase its production share in the international market. Currently, there is a huge demand of fish feed in the country. At times, country’s production of fishmeal is not enough for domestic use. It needs to be re-imported and cannot be exported to other countries, thereby rising the market of aquafeed in the country itself.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the China aquafeed market report, along with forecasts at the country and province level from 2023-2028. Our report has categorized the market based on species, ingredient, additive and product form.

Breakup by Species:

Carps
Catfish
Tilapia
Shrimp
Others

Carps currently dominate the aquafeed market in China, holding the largest share.

Breakup by Ingredient:

Soybean
Fish Meal
Corn
Fish Oil
Additives
Others

Amongst all the ingredient types, soybean currently dominates the China aquafeed market.

Breakup by Additive:

Vitamins and Minerals
Amino Acids
Antibiotics
Feed Acidifiers
Others

Vitamins and minerals currently represent the most popular type of additives.

Breakup by Product Form:

Pellets
Extruded
Powdered
Liquid

Among all the product forms, pellets currently represent the largest type accounting for majority of the market share.

Breakup by Province:

Guangdong
Jiangsu
Hubei
Hunan
Zhejiang
Others

Province-wise, Guangdong currently represents the largest market.

Competitive Landscape:
The report has also examined the competitive landscape of the market and provides the profiles of the key players operating in the industry. Some of the key players include Cargill, Alltech China, Liaoning Wellhope Agri-Tech Joint Stock Co., Tongwei Group Co., Aller Aqua, Nutreco, BioMar-Tongwei Biotech (Wuxi), Charoen Pokphand Group, etc.

Key Questions Answered in This Report

1. What was the size of the China aquafeed market in 2022?
2. What is the expected growth rate of the China aquafeed market during 2023-2028?
3. What are the key factors driving the China aquafeed market?
4. What has been the impact of COVID-19 on the China aquafeed market?
5. What is the breakup of the China aquafeed market based on the species?
6. What is the breakup of the China aquafeed market based on the ingredient?
7. What is the breakup of the China aquafeed market based on the additive?
8. What is the breakup of the China aquafeed market based on the product form?
9. What are the key regions in the China aquafeed market?
10. Who are the key players/companies in the China aquafeed market?