How Has The Aquaculture Feed Market Progressed And What Are The Predictions For Its Future Growth?
The aquaculture feed market has seen robust progression recently, surging from $63.89 billion in 2024 to an anticipated $69.03 billion in 2025 reflecting a strong compound annual growth rate (CAGR) of 8.1%. This growth can be attributed to an increase in seafood consumption, research and development initiatives, regulatory support, the economic feasibility of aquaculture, and the globalization of aquaculture operations.
The market is forecasted to grow to $93.44 billion by 2029 at a CAGR of 7.9%. This forecasted growth is primarily due to factors such as sustainable aquaculture practices, alternative protein sources, climate change adaptation, health and disease management, e-commerce, and supply chain optimization. Emerging trends such as sustainable and alternative protein sources, functional feeds for health and performance, precision feeding and technology integration, customized and specialty feeds, aquafeed innovation for niche species are poised to further influence the market in the years to come.
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What Is Driving The Growth Of The Aquaculture Feed Market?
An uptick in the demand for seafood is primarily fueling the growth of the aquaculture feed market. Aquatic creatures and fish like shrimp, octopuses, and fishes, collectively termed as seafood, are a significant source of protein and nutrients for humans. High-quality seafood can be efficiently produced with the help of aquaculture feed, leading to higher consumption. The Organization for Economic Cooperation and Development (OECD) revealed that 90% of global fish production is expected to be used as food by 2029, translating to an additional 25 Mt or a growth of 16.3% to 180 Mt. Therefore, the escalating demand for high-quality seafood is playing a pivotal role in pushing the aquaculture feed market forward.
What Are The Major Segments Of The Aquaculture Feed Market?
The aquaculture feed market as covered in this report is divided into various segments:
1) By Product Type: Pellets, Extruded, Powdered, Liquid
2) By Ingredient Type: Soybean, Corn, Fishmeal, Fish Oil, Additives, Other Ingredients
3) By Species Type: Carp, Marine Shrimps, Tilapias, Catfishes, Marine Fishes, Salmons, Freshwater (FW) Crustaceans, Trouts, Other Species
4) By Distribution Channel: Store Based, Online
5) By End User: Commercial, Household
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Which Key Players Are Dominating The Aquaculture Feed Market?
Prominent players operating in the aquaculture feed market include Alltech Inc., Land O’Lakes Inc., Nutreco N.V., Charoen Pokphand Foods PCL, Avanti Feeds Limited, Ocean Star International Inc., Ridley Corporation Limited, Guangdong Haid Group Co. Ltd., Tongwei Group Co. Ltd., Betagro Group, De Heus Vietnam LLC, Schouw & Co. AS, BioMar A/S, Cargill Inc., Coppens International BV, Hanpel Tech Co. Ltd., Inve Aquaculture Inc., Nutriad International NV, Biomin, Bluestar Adisseo, Wilbur-Ellis Nutrition LLC, New Hope Group, Grobest Holdings Limited, NovoNutrients, EniferBio, Archer Daniels Midland Company, Norel Animal Nutrition, Zeigler Bros Inc.
What Are The Key Trends Emerging In The Aquaculture Feed Market?
Product innovations form a key trend in the aquaculture feed market. Major companies are striving to innovate new products for attaining a stronghold in the market. For example, in June 2024, Skretting, a Norway-based company, launched the new feed formulation concept, AmiNova, designed to improve the precision of fish nutrition. This breakthrough approach focuses on utilizing an ideal digestible amino acid profile, transcending the traditional use of crude and digestible protein, thus enhancing nutrient efficiency.
Which Region Enjoys The Largest Share In The Aquaculture Feed Market?
Asia-Pacific was the largest region in the Aquaculture feed market in 2024. In addition to this region, the aquaculture feed market report also covers Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Aquaculture Feed Market Report 2025 Offer?
Aquaculture feed, as outlined in the report, refers to the food delivered to aquatic species in a regulated environment to ensure their growth, health, and productivity. The primary aim of aquaculture feed is to deliver dietary requirements for the species to maintain an effectively strong natural immune system and prosperous breeding. The Aquaculture Feed Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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