- The fish feed and shrimp feed market was valued at USD 36,159.27 million in 2018, and it is expected to reach USD 54,042.05 million by 2024, registering a CAGR of 5.88%, during the forecast period (2019-2024).
- The fish feed additives market was valued at USD 754.66 million in 2018, and it is expected to reach USD 1,209.04 million by 2024, registering a CAGR of 8.28%, during the forecast period (2019-2024).
- The shrimp feed additives market was valued at USD 66.30 million in 2018, and it is estimated to reach USD 103.52 million by 2024, registering a CAGR of 7.8%, during the forecast period (2019-2024).
Fish and shrimp feed refers to food that is given to these aquatic animals for their survival. Additives are nutritive ingredients that are supplemented in small quantities to improve the quality of fish or shrimp as a final product, to preserve the physical and chemical quality of their diet, or to maintain the quality of the aquatic environment.
The end consumers of fish and shrimp feed and feed additives are compound feed manufacturers, integrators, farmers, home-mixers, livestock, and aquaculture industry players. The issues regarding livestock disease outbreak further necessitate the application of various additives to manage and maintain animal health and wellness.
Key Market Trends
The Growth of Aquaculture Industry Driving the Feed and Additives Market
The aquaculture industry is driven by factors, such as increasing fish consumption across the world and growth in processed seafood due to an increase in the income of the middle-class population in the developing countries. Demand for high-quality aqua feed from the industry, owing to the growth in the aquaculture industry, has led to increased demand for compound feed and feed additives.
Asia-Pacific Leads the Global Market
With 51% share of the global market, Asia-Pacific is the leader of the fish, fish feed, fish feed additives, shrimp, shrimp feed, shrimp feed additives market. Asia-Pacific registered a market value of USD 19,296.44 million in 2018, and it is expected to reach USD 28,252.89 million by 2024, at a CAGR of 6.77% during the forecast period.
The global fish and shrimp feed market is highly fragmented, consisting small to medium feed and feed additive manufacturers, along with few notable players, like Biomar, Cargill, and Aller Aqua. Biomar being a leading supplier involved in larval, fry diets, grower diets, and functional feeds has strong sales in China, the world’s largest aquaculture market. The health benefits, owing to seafood consumption, and the growing awareness of the meat quality have created demand for feed additives that help in the overall growth of the fish and shrimp at all stages.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Oppurtunities
4.5 Porter's Five Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Consumers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitute Products and Services
4.5.5 Degree of Competition
5 MARKET SEGMENTATION
5.1 Feed Market by Animal Type (includes Ingredients, like Cereals, Fishmeal and Fish Oil, Oil Seeds and Derivatives, Molasses, Supplements, and Ingredients)
5.2.1 North America
188.8.131.52 United States
184.108.40.206 Rest of Asia-Pacific
5.2.3 South America
220.127.116.11 Rest of South America
5.2.4 Middle East & Africa
18.104.22.168 South Africa
22.214.171.124 Rest of Middle East & Africa
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
5.3 Fish Feed Additives Market by Additive Type
5.3.3 Amino Acids
5.4 Shrimp Feed Additives Market by Additive Type
5.4.3 Amino Acids
6 COMPETITIVE LANDSCAPE
6.1 Market Share Analysis
6.2 Most Adopted Strategies
6.3 Company Profiles
6.3.1 Alltech Inc.
6.3.2 Aller Aqua AS
6.3.3 Biomar AS
6.3.4 Biomin GmbH
6.3.5 Cargill Incorporated
6.3.6 Nutreco NV
6.3.7 Ridley Corporation
6.3.8 Archer Daniels Midland Co.
6.3.9 BASF SE
6.3.10 Nutriad International
7 MARKET OPPORTUNITIES AND FUTURE TRENDS