Aqua feed refers to industrially manufactured food item for various aquatic species such as fish, crustaceans and mollusks. Aqua feed is administered to aquatic species externally in the form of pellets. With the development of new technologies the quality of the feed is improved in order to attain high productivity. Fish cultivated on farms and feeding on pests are found on crops and can also be categorized under the aquafeed market segment. The properties of commercially manufactured feeds are altered so that they can float on the surface of the water or sink to the bottom of the tanks where fish are reared.
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Aquafeed is a demand-driven industry. This industry is driven by the increase in the fish meat consumption which is due to the increase in world population. The availability of fish meal and other protein sources has increased the global demand for aquafeed in Asia. There is a clear trend towards the development and implementation of safety and quality standards. Carp was the largest application segment of the market, accounting for over XX% of global aquafeed demand in 2015.
The feeds fall in two major categories – natural and artificial. Natural feeds include varieties of naturally occurring or specifically grown/bred products such as plants, animals, live food organisms and trash fish and Artificial feeds are substances compounded artificially in laboratories and fused with additives such as medicines, vaccines or vitamins.
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The North American aquafeed market is driven by various factors such as growth in aquaculture industry, increased consumption of fish and seafood, flexibility in use of secondary raw materials, and increasing income of expanding middle class in developing nations.
Carps are being extensively reared over the past few years owing to their adaptability to changing climates. In addition, carps are viable source of protein containing high omega-3 and low fat. Carps are anticipated to be the fastest growing application segment for aquafeed owing to their growing demand in direct human consumption.
The aquafeed market was valued at $XXm in 2014, and $XXm in 2015, and is projected to reach $XXm by 2021, at a Compound Annual Growth Rate (CAGR) of XX% from 2016 to 2021. Global demand for aquafeed was XX kilo tons in 2015 and is expected to grow at a CAGR exceeding XX% from 2016 to 2021. Higher incomes in the developing world, apperception of aquaculture products as being premium, and dietary changes have fueled the boom in aquafeed production.
Asia Pacific was the largest aquafeed market exceeding XX% of global volume in 2015. Expansion of aquaculture industry in China and India owing to factors such as ease of raw material availability, favorable climatic conditions for aquaculture and cheap labor is expected to increase the growth of aquafeed market. The aquafeed market is expected to grow at CAGR of XX% and XX% both by value and volume from 2015 to 2021, with the highest growth projected in the Asia-Pacific region. Europe was the second largest consumer of aquafeed in 2015 accounting for over XX% of the global demand.
Apart from this, this report also looks into whole value chain, pricing analysis opportunity analysis of this market. This report also covers the major patents and also the constraints and challenges faced by this market. Competitive landscape for each of the product types is highlighted and market players are profiled with attributes of Company Overview, Financial Overview, Business Strategies, Product Portfolio and Recent Developments. The report contains the most detailed and in-depth segmentation of the Aquafeed market.
Some of the major players involved in the global aquafeed market are:
Aller Aqua, Beneo
Norel Animal Nutrition
Avanti Feeds Ltd.
Charoen Pokphand Foods Company Ltd.
NK Ingredients Pte Ltd.
Nutriad, Nutreco N.V.
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