Global Aqua Feed Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Aqua Feed Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Aqua Feed is an important material basis for aquaculture, which can provide the balanced nutrition needed by farmed fish and other aquatic animals. Aqua Feed refers to any feed provided to aquaculture animals as part of aquaculture.

Market Overview:

The latest research study on the global Aqua Feed market finds that the global Aqua Feed market reached a value of USD 55012.7 million in 2022. It’s expected that the market will achieve USD 87564.5 million by 2028, exhibiting a CAGR of 8.05% during the forecast period.

The impact of the Russia-Ukraine war on the Aqua Feed Market

The impact of the Russo-Ukraine war on the world economy is mainly reflected in hindering the recovery of the world economy; promoting the trend of anti-globalization; global economic governance in trouble. The Russia-Ukraine war jeopardizes the recovery of the world economy from the COVID-19 pandemic, and countries around the world are facing many challenges such as inflation, food security, energy security, and supply chain pressure. The Russo-Ukrainian war not only brought about human misery and a humanitarian crisis but also affected the entire global economy by slowing growth and accelerating inflation. The chain reaction of the Russia-Ukraine conflict has implicated countless people. Since the outbreak of this war, the cost of living has soared globally, destroying lives, livelihoods, and hopes for a better world. The effects of the Russo-Ukraine war are reflected in food and energy inflation, falling real wages, rising inequality, and rising debt in developing countries.
The Russo-Ukrainian war affects global cereal crop prices. Russia and Ukraine are the main producers of agricultural products, and the Russo-Ukrainian war caused the price of agricultural products to soar. In the short term, war-related logistical disruptions have had a greater impact on exports of agricultural products such as corn. The production of Aqua Feed requires a variety of grain-based raw materials, so the rise in the price of raw materials has an adverse impact on the production of the Aqua Feed industry.
Russia and Ukraine are commodity producers, and disruptions in the production of commodities have sent global prices sharply higher, especially for oil and natural gas. Higher costs for oil and gas will make energy for key manufacturing processes more expensive and drive global inflationary pressures. Rising energy costs are more detrimental to the Aqua Feed industry for the Aqua Feed industry.
Additionally, the COVID-19 pandemic and the Russia-Ukraine war have disrupted supply chains, creating a double whammy for global supply chains. The Russo-Ukraine war severely disrupted shipping and air transport. According to supply chain companies, the Russia-Ukraine war has led to layoffs at airlines, shutdowns at logistics companies, and soaring air freight prices. Therefore, it is not conducive to the transportation of Aqua Feed products.

High-quality seafood is sought after by the downstream market

In recent years, with the continuous improvement of mass consumption, people have higher and higher requirements for food nutrition. Consumers continue to buy various seafood products instead of pork and other meat products. Under this trend, various seafood supermarkets and restaurants continue to spread in various countries and regions around the world. For example, because shrimp meat is rich in nutrition, it is a high-protein, low-fat, high-nutrition aquatic food, which is very popular among consumers. In addition, as most people begin to pay attention to a healthy diet and the rise of the fitness craze
in recent years, high-quality high-protein food - shrimp meat has also begun to be favored by the public.
In addition, rising health awareness among consumers and rising incidence of diseases such as diabetes, blood pressure, heart disease, and obesity have prompted consumers to shift their attention to protein-rich diets, thereby boosting the demand for seafood products. In the global market, the growing aquaculture industry due to increasing demand for protein-rich diets are driving the growth of the aqua feed market.

Risk of raw material price fluctuations

For an Aqua Feed manufacturer, the major cost to the company is the feed raw material cost. Among the raw materials of Aqua Feed, the raw materials with a relatively high proportion include fishmeal, soybean meal, corn, etc. Some raw materials are difficult to be replaced with other raw materials in large amounts in the short term. Therefore, fluctuations in raw material prices will directly cause fluctuations in the company's procurement costs, which will affect the company's profitability to a certain extent. The prices of upstream grain raw materials, such as corn, are easily affected by sudden natural factors such as natural disasters, pests, and diseases.
Therefore, the Aqua Feed industry is exposed to the risk of raw material price fluctuations.

Risks caused by product price fluctuations in downstream industries

For Aqua Feed manufacturers, Aqua Feed products directly serve the downstream aquaculture industry. Aquaculture scale and feed penetration rate are the important basis for the company's product sales in this industry. The price fluctuation of aquatic products will directly affect the sales of the company's feed products. The aquaculture industry is an agricultural industry, which is highly volatile due to the influence of consumers' dietary preferences, natural disasters, and breeding diseases. The low market sales price of aquatic products will reduce the enthusiasm of farmers for farming, which will have an adverse impact on the sales of related Aqua Feed products and sales returns.

Region Overview:

In 2022, the share of the Aqua Feed market in China stood at 36.99%.

Company Overview:

Nutreco N.V.(Skretting) is one of the major players operating in the Aqua Feed market, holding a share of 7.07% in 2023.

Nutreco invests in BiomEdit, strengthening its partnership to transform feed additives through Biome-actives

18 February 2023
Nutreco, global leader in animal nutrition and aquafeed, today announces that it has taken a minority stake in animal health’s most advanced microbiome biotech company, BiomEdit. The two companies recently entered into a ground-breaking, long-term strategic research and commercial partnership – the first since BiomEdit was founded – to bring livestock and aquaculture producers innovative and truly novel feed additives developed through microbiome technology.

Segmentation Overview:

By type, Dry segment accounted for the largest share of market in 2022.

Application Overview:

The market's largest segment by application is the segment Fish, with a market share of 70.78% in 2022.

Key Companies in the global Aqua Feed market covered in Chapter 3:

BETAGRO
Ridley Corp. Ltd.
The Waterbase Ltd.
Cargill, Inc.
Charoen Pokphand Foods PCL
San Miguel Foods
INVE Aquaculture
Japfa Comfeed
Guangdong Haid Group
Uni-President Enterprises Corporation
Aller Aqua
Südzucker (Beneo)
Tongwei Group Co., Ltd.
BioMar Group
GUANGDONG YUEHAI FEEDS GROUP
Alltech
Dibaq Aquaculture
Nutreco N.V.(Skretting)
Marubeni Nisshin Feed Co.,Ltd.
De Heus
Avanti Feeds Ltd.

In Chapter 4 and Chapter 14.2, on the basis of types, the Aqua Feed market from 2018 to 2029 is primarily split into:

Dry
Wet

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Aqua Feed market from 2018 to 2029 covers:

Fish
Mollusk
Crustacean

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)