Aquafeed is primarily known as fish feed, and it is commercially processed to feed a variety of aquatic species. It provides a full diet for fish and other aquatic organisms, as well as nutrients. Various aquafeed include shrimp, carps, mollusks, crustaceans, catfish, trout, and other aquatic species. Aquafeed is made up of a variety of ingredients, including wheat, corn, pulses, and oilseeds, to which various feed additives are added to improve the functionality of the aquafeed. It is provided to aquatic animals according to their life cycle.
MARKET SCOPE
The "Global Aquafeed Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the aquafeed market with detailed market segmentation by type, category, distribution channel, and geography. The report provides key statistics on the market status of the leading aquafeed market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on lifecycle, the global aquafeed market is segmented into starter feed, grower feed, finisher feed, and brooder feed.
- On the basis of aquatic species, the market is segmented into fish, crustaceans, mollusks, and others.
MARKET DYNAMICS
Drivers
- Increasing fish consumption, followed by massive growth in processed seafood, is significantly driving the market growth.
- The globalization of seafood is significantly contributing to the expansion of the aquafeed market.
- The aquafeed market is driven by rising demand for animal by-products such as shrimp meals, fish meals, and squid meals in feed applications, especially in Asia Pacific's emerging economies such as India, Vietnam, and China.
- Rise in seafood trade propelling the demand of aquafeed.
Restraints
- Fluctuations in raw material prices
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The aquafeed market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the aquafeed market in these regions.
IMPACT OF COVID-19 ON AQUAFEED MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 pandemic has affected all feed industries, including aquafeed. Owing to the current pandemic situation, many companies in the Aquafeed industry are experiencing limitations in manufacturing and production activities, as well as logistical problems as a result of ongoing trade restrictions. Several manufacturers have taken steps to ensure that their facilities are operating at maximum capacity in order to maintain a steady supply of feed for the aquaculture industry.
MARKET PLAYERS
The report covers key developments in the aquafeed market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from aquafeed market are anticipated to lucrative growth opportunities in the future with the rising demand for aquafeed in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the aquafeed market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Avanti Feeds Ltd.
- BASF
- Biomin Holding GmbH
- Cermaq
- Coppen International BV
- Evonik Industries
- Marvesa
- Norel Animal Nutrition
- Waterbase Ltd
- Zeigler bros. Inc. (U.S.)
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.