Aquafeed Market - Forecasts from 2019 to 2024

The aquafeed market was valued at US$25.057 billion in 2018 and is anticipated to grow at a CAGR of 4.10% to reach a market size of US$31.888 billion by 2024. With the growing human population, the need for the increase in food production stands a foremost concern for sustaining future’s growing appetite. In order to reduce the gap between demand and supply of food, people are turning to the sea for solutions. According to the World Bank, aquaculture is expected to be the prime source of seafood by 2030, as demand breeds from the global middle class and wild capture fisheries. The rising aquaculture industry is expected to augment the aquafeed market in this segment. Moreover, the growth in seafood trade owing to globalization and an increase in spending power further augments the aquafeed market. However, the fluctuating prices of raw materials like fish oil and fish meal drive the need for cost-effective substitutes while restraining the market growth.
Geographically, Asia Pacific accounted for a large market share in 2016 and is expected to hold a notable position by the end of the forecasted period. The flourishing aquaculture industry owing to the availability of cheap labour and natural resources is the major factor driving this regional growth. The rising consumption and trading of seafood, especially in China, further contribute to this growth. Likewise, high growth has been observed in the European aquafeed market as a result of the rising consumption of seafood in countries like Germany and Norway.

The Aquafeed Market - Forecasts from 2019 to 2024 is an exhaustive study which aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key market, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by additive, by end-user, and by geography.

The aquafeed market has been segmented based on additive, end-user, and geography. On the basis of additive, the market is categorized into amino Acid, vitamins, antibiotics, feed acidifiers, others. On the basis of end-user, the market is categorized into fish, mollusks, crustaceans, and others. Regional analysis has been provided with detailed analysis and forecast for the period 2018 to 2024. The global market has been broken down into North America, South America, Europe, Middle East and Africa (MEA), and the Asia Pacific regions. The report also analyzes 16 major countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers.

Major players in the aquafeed market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the aquafeed market.

Segmentation:

By Additive

• Amino Acid
• Vitamins
• Antibiotics
• Feed acidifiers
• Others

By End-User

• Fish
• Mollusks
• Crustaceans
• Others

By Geography

North America

• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others

Europe

• Germany
• France
• United Kingdom
• Spain
• Others

Middle East and Africa

• Saudi Arabia
• Israel
• UAE
• Others

Asia Pacific

• China
• Japan
• South Korea
• India
• Others

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