Aquafeed Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Ingredient Type (Soybean, Corn, Fishmeal and Fish Oil, and Others), Species (Fish, Crustaceans, Mollusks, and Others), L

The aquafeed market size is projected to reach US$ 103.15 billion by 2031 from US$ 64.54 billion in 2024; the market is expected to register a CAGR of 6.9% during 2024–2031.

Aquafeed is a food or feed used to nourish farmed aquatic animals such as fish, shrimp, mollusks, and crustaceans. It is specifically formulated to meet the nutritional requirements of aquatic species at different life stages, ensuring healthy growth, development, and reproduction. Aquafeed formulation varies depending on the species being farmed, the environment in which they are raised, and the specific nutritional needs at each life stage. Aquafeeds are mainly provided in pellets, granules, and other specialized forms to make them suitable for different aquatic animals.

The aquafeed market is driven by the growing aquaculture industry globally. Asia Pacific holds the largest share of the global aquafeed market, and the Middle East and North Africa is expected to register the highest CAGR during the forecast period. Asia Pacific, which includes countries such as China, India, Vietnam, and Indonesia, is home to the largest aquaculture producers globally. The expansion of aquaculture production, particularly in fish, shrimp, and mollusks, increases the need for high-quality feed to ensure optimal growth and health of aquatic species.

The increase in global aquafeed market share is due to a marked shift toward high-quality feed, driven by the increasing emphasis on optimizing aquaculture productivity and sustainability. Farmers are moving away from traditional feeding practices, such as using raw fish or agricultural byproducts, and adopting nutritionally balanced, high-quality feed formulations that enhance the health, growth, and overall yield of aquatic species. High-quality feed is scientifically designed to provide a precise mix of essential nutrients, including proteins, lipids, vitamins, and minerals, which are crucial for promoting efficient growth and boosting the immune system of farmed species.

The Middle East and North Africa is expected to record the highest CAGR over the forecast period. The aquaculture industry in the Middle East and North Africa (MENA) is relatively new compared to other parts of the world, making this region highly dependent on other countries for food and feed. With limited marine resources and rising concerns over the sustainability of wild fishing, aquaculture has become a critical component of food security strategies in countries such as Egypt, Saudi Arabia, Morocco, and Iran. Key aquaculture-producing countries within the region include Saudi Arabia, Turkey, and Iran. However, many other countries, such as Oman and the UAE, are investing in and expanding aquaculture to drive sustainable food production. As aquaculture expands, the demand for nutritionally balanced and cost-effective aquafeed continues to rise, ensuring optimal growth and health of farmed aquatic species such as tilapia, seabass, and shrimp. Under the Aquaculture Development Program, the Saudi Arabian government further aims to improve the survival rates of aquaculture species and reduce feed costs by 30% or more annually‚ achieving savings of more than US$ 400 million.

A few of the players operating in the global aquafeed market are Cargill, Incorporated; World Feeds Limited; Kemin Industries Inc; Archer-Daniels-Midland Co; Alltech Inc; BioMar Group AS; Purina Animal Nutrition LLC; Godrej Agrovet Ltd; Aller Aqua AS; Raanan Fish Feed West Africa Limited; Arabian Agricultural Services Company; Bern Aqua NV; Avanti Feeds Limited; Skretting; Ridley Corporation Limited; Growel Feeds Pvt Ltd; Quality Feeds Limited; Grand Fish Feed; Dibaq Diproteg SA; and Marubeni Nisshin Feed Co Ltd. Market players focus on offering high-quality products to fulfill customer demand. Players operating in the global market focus on providing high-quality products to fulfill customer demand. Also, they focus on adopting various strategies such as new product launches, capacity expansions, partnerships, and collaborations in order to stay competitive in the market. The aquafeed market forecast can help stakeholders plan their growth strategies.

The overall global aquafeed market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the aquafeed market.

Reasons to buy

Progressive industry trends in the aquafeed market to help players develop effective long-term strategies
Business growth strategies adopted by developed and developing markets
Quantitative analysis of the aquafeed market from 2021 to 2031
Estimation of the demand for aquafeed across various industries
Porter's Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict the market growth
Recent developments to understand the competitive market scenario and the demand for aquafeed across the globe
Market trends and outlook coupled with factors driving and restraining the growth of the aquafeed market.
Decision-making process by understanding strategies that underpin commercial interest concerning the global aquafeed market growth
The global aquafeed market size at various nodes of market
Detailed overview and segmentation of the aquafeed market as well as its dynamics in the industry
The aquafeed market size in different regions with promising growth opportunities