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

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

Aquaculture feed is a mixture of raw materials, additives, and other supplements, sourced from either natural or synthetic sources and are fed to farmed fish.

Aquaculture feeds usually contain fish meal and fish oil of marine origin. Soybean meal and carp are also commonly used raw materials.

Market Overview:

The latest research study on the global Aquaculture Feed market finds that the global Aquaculture Feed market reached a value of USD 45318.52 million in 2022. It’s expected that the market will achieve USD 55088.58 million by 2028, exhibiting a CAGR of 3.31% during the forecast period.

Influence of COVID-19 Outbreak on Aquaculture Feed Industry Development

The rapid spread of the epidemic around the world has affected the development of international trade to a certain extent, leading to increased import costs, rising prices, unstable market expectations, and increased uncertainty. The supply of feed raw materials cannot be guaranteed. Imported raw materials continue to be bullish. The entire feed industry was affected and the impact is still lingering.
In the short term, the epidemic has increased the uncertainty in the import of feed ingredients such as soybeans, fish meal, and whey powder. Some international ports are closed, and many countries have suspended exports of agricultural products such as soybeans and corn. In addition, the price of imported raw materials has increased significantly. Corn, soybean meal, and fishmeal rose by 12.6%, 18.1%, and 12.7% respectively in March. At the same time, it also pushed up the price of feed ingredients at home and abroad. International trade in feed is blocked. Many countries have adopted strict quarantine measures for all foreign ships, resulting in longer transportation and customs clearance time for exported agricultural products, and increased import costs for feed raw materials.
In the long run, the epidemic has caused severe damage to the global economy, market expectations are unstable, and risk factors increase. The spread of the epidemic will affect the process of bilateral and multilateral, regional trade and investment liberalization and economic integration. Many countries and regions have begun to consider re-adjusting their food strategies, and uncertainties and instability factors in the guarantee of feed grain supply will increase.
In addition, the epidemic will accelerate industry differentiation. Small and medium-sized enterprises have limited ability to resist risks and may exit or transform, thus further negatively impact the Aquaculture Feed Industry.

The growing aquaculture industry in Asia-Pacific

In Asia-Pacific, the developing countries such as China, India, Indonesia, and Vietnam are forecast to strengthen their position as major contributors to aquaculture production in the coming years, led by factors such as rising standards of living and increase in per capita seafood consumption; establishment of new fish farms for export production; availability of large government schemes and heavy investments supporting aquaculture and fisheries; growing awareness over fish health, breeding and management; and strict regulations governing ocean catch and clampdown on destructive fishing and the ensuing increase in investments in aquaculture have greatly promoted the aquaculture industry. Moreover, the ease of availability of natural resources, induced conditions for aquaculture, and cheap labor in these countries also serve as strong forces for the growth of aquafeed industry, which promise to further drive the growth of the aquaculture feed industry.

Fluctuations in raw material prices

owing to several factors such as fluctuating oil prices, adverse weather conditions, and global currency fluctuations, the industry faced a major challenge of raw material price fluctuations. Instability in the prices of aquaculture feed ingredients and additives, and other raw materials such as corn and soybean have impacted the farming of different fish species in several countries. The main consequence of the rising prices of ingredients is the shortage in the local supply of fish and unsecured future food supply. Small companies and rural farmers, in particular, are susceptible to these global changes.
Moreover, stringent regulations, and difficulty in production of environmentally sustainable and nutritionally enriched aquaculture feeds may also hamper the growth of the aquaculture feed industry over the forecast period.

Rising use of high-standard raw materials for achieving better-quality products

Vendors are focusing on producing better-quality aquaculture feed products to increase sales. Vendors have been collaborating with production technology firms to manufacture improved quality products. The vendors are also making sure to conform to standards specified by the Environmental Protection Act (EPA) and Direction of Fisheries and Aquaculture (DPA). These factors will increase the sales for vendors. Therefore, rising use of high-standard raw materials for achieving better-quality products will lead to the expansion of the global aquaculture feed market during the forecast period.

Region Overview:

Asia Pacific is projected to account for a considerable share of the Aquaculture Feed market and is expected to become the largest region by 2028.

Company Overview:

Nutreco N.V. is one of the major players operating in the Aquaculture Feed market, holding a share of 7.21% in 2023.

Nutreco N.V.

Nutreco is a global leader in animal nutrition and aquafeed. Our advanced nutritional solutions are at the origin of food for millions of consumers worldwide. Quality, innovation and sustainability are guiding principles, embedded in the Nutreco culture from research and raw material procurement to products and services for livestock farming and aquaculture.

Cargill, Inc

Cargill is an international producer and marketer of food, agricultural, financial and industrial products and services.

Segmentation Overview:

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

Application Overview:

By application, the Carps segment occupied the biggest share from 2018 to 2022.

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

Uni-President Enterprises Corporation
Pt Japfa Comfeed Indonesia Tbk.
Cargill, Inc
Marubeni Nisshin Feed Co.,Ltd.
Charoen Pokphand Group
Tetra Holding GmbH.
Guangdong Haid Group Co., Ltd.
De Heus
Biomar
Tongwei Group Co., Ltd.
Nutreco N.V.
Betagro Group
San Miguel Corporation
Archer Daniels Midland Company

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

Live Food
Processed Food

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

Carps
Shrimp
Salmon
Trout
Others

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)