Europe Aquafeed Market Report by Scope, Segmentation, Dynamics, and Competitive Analysis

The Europe aquafeed Market size is expected to reach US$ 12.42 billion by 2031 from US$ 7.53 billion in 2024. The market is estimated to record a CAGR of 7.4% from 2024 to 2031.

Executive Summary and Europe Aquafeed Market Analysis:

The Europe aquafeed market plays a vital role in the global aquaculture industry. The market growth is driven by a combination of factors, including an increase in consumer demand for seafood, advancements in aquaculture technology, and a focus on sustainability. Aquaculture is the production of fish and other aquatic organisms under controlled conditions in freshwater or marine water. Aquaculture is one of the fastest-growing food production sectors in the world and is increasingly important for global food supply. With a demand totaling ~10 million tonnes of fishery and aquaculture products for human consumption, the European Union (EU) is thus relying heavily on imports. To mitigate the EU's dependency on imports for aquatic products, future increases in EU fish production will have to be driven mainly by aquaculture. The sustainable development of aquaculture is the main objective of the EU's Common Fisheries Policy (CFP) and an essential component of the Blue Economy strategy. As an essential part of the European Green Deal, the 'farm to fork' strategy underlines farmed seafood's potential as a source of protein with a low-carbon footprint and sets the objective of increasing organic aquaculture significantly by 2030. Consumers are increasingly aware of the environmental and social impacts of aquaculture, and they demand products that are produced sustainably. This has led to a growing demand for aquafeed that is made from sustainable ingredients, such as plant-based proteins and insect meal. Furthermore, the increasing focus on reducing reliance on fishmeal and fish oil is driving demand for aquafeed. These ingredients are traditionally used in aquafeed, but they are becoming increasingly scarce and expensive. As a result, there is a growing need to find alternative sources of protein and omega-3 fatty acids for aquafeed. This has led to increased research and development in the use of plant-based ingredients and other novel feed ingredients. Thus, the demand for aquafeed in Europe is expected to continue to grow in the coming years, driven by a combination of factors, including population growth, increasing seafood consumption, and a growing focus on sustainability.

Europe Aquafeed Market Segmentation Analysis:

Key segments that contributed to the derivation of the aquafeed market analysis are ingredient type, species, and lifecycle.

By ingredient type, the aquafeed market is segmented into soybean, corn, fishmeal, fish oil, and others. The others held the largest share of the market in 2024.

By species, the aquafeed market is segmented into fish, crustaceans, mollusks, and others. The fish held the largest share of the market in 2024.

By lifecycle, the aquafeed market is segmented into starter feed, grower feed, finisher feed, and brooder feed. The starter feed held the largest share of the market in 2024.

Europe Aquafeed Market Outlook

The aquafeed market is experiencing significant growth 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.

This shift is further fueled by the rising incidence of disease outbreaks in aquaculture systems, which has highlighted the importance of functional and medicated feeds. Advanced feeds incorporating probiotics, prebiotics, enzymes, and other additives are increasingly being used to improve digestion, enhance immunity, and mitigate the risks associated with intensive farming practices. Additionally, the growing consumer demand for premium seafood products has encouraged aquaculture farmers to prioritize high-quality feed, as it directly impacts the nutritional value, taste, and marketability of the final product.

Europe Aquafeed Market Country Insights

Based on country, the Europe aquafeed market comprises Germany, France, Italy, Spain, the UK, and the Rest of Europe. Spain held the largest share in 2024.

The demand for aquafeed in Spain is on the rise due to the significant growth of the aquaculture industry, with increased production of various species such as shrimp, salmon, and trout. This expansion necessitates a higher volume of specialized feed to support the thriving aquaculture operations. In addition, there is a growing emphasis on sustainable and environmentally friendly aquaculture practices. This has led to a demand for aquafeed that incorporates high-quality, sustainable ingredients, such as plant-based proteins and alternative sources of omega-3 fatty acids. The aquaculture industry is incorporating alternative protein sources such as algae, plant-based proteins, and insect meal to reduce dependence on marine resources. The government of Spain is incorporating various strategies to boost the aquaculture industry. According to the APROMAR (Asociación Empresarial de Acuicultura de España), in 2022, a total of 5,057 aquaculture establishments were in operation and producing in Spain. In September 2024, the Spanish Ministry of Agriculture, Fisheries, and Food launched a new funding initiative under the Plan de Recuperación, Transformación y Resiliencia (PRTR) to support the fisheries and aquaculture processing industry. Additionally, advancements in feed technology, such as improved nutrient delivery and waste reduction, contribute to the market's growth. With the rising consumer awareness about sustainability and the environmental impact of seafood production, the demand for eco-friendly and species-specific aquafeed solutions is expected to remain strong, driving innovation and market expansion in Spain.

Europe Aquafeed Market Company Profiles

Some of the key players operating in the market include 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 among others. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.

Europe Aquafeed Market Research Methodology:

The following methodology has been followed for the collection and analysis of data presented in this report.

Secondary Research

The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:

Company websites, annual reports, financial statements, broker analyses, and investor presentations. Industry trade journals and other relevant publications. Government documents, statistical databases, and market reports. News articles, press releases, and webcasts specific to companies operating in the market. Note: All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.

Primary Research

The publisher conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis, and gain valuable insights. These research interviews are designed to:

Validate and refine findings from secondary research. Enhance the expertise and market understanding of the analysis team. Gain insights into market size, trends, growth patterns, competitive dynamics, and future prospects. Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:

Industry stakeholders: Vice Presidents, business development managers, market intelligence managers, and national sales managers External experts: Valuation specialists, research analysts, and key opinion leaders with industry-specific expertise

Reasons to Buy

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe Aquafeed Market.
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• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.