shrimp feed market, shrimp feed industry, shrimp feed market size, shrimp feed report, shrimp feed market forecast, shrimp feed market trends
What are the recent trends in market size and growth for the shrimp feed market?
The shrimp feed market size has grown strongly in recent years. It will grow from $4.51 billion in 2024 to $4.82 billion in 2025 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to increased aquaculture production, technological advancements in feed production, high investments in shrimp farming, sustainability initiatives in feed production, and enhanced research and development.
The shrimp feed market size is expected to see strong growth in the next few years. It will grow to $6.22 billion in 2029 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to high global shrimp demand, expansion of shrimp farming, regulatory changes, growing demand for seafood, and technological advancements. Major trends in the forecast period include increased demand for sustainable feeds, rising animal feed ingredient costs, advancement in aquaculture technology, shifts towards plant-based proteins, and stricter environmental regulations.
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How have varous drivers impacted the growth of the shrimp feed market?
The increasing demand for seafood is expected to propel the growth of the shrimp feed market going forward. Seafood refers to any edible aquatic animal or plant harvested from freshwater or saltwater environments for human consumption. The increasing demand for seafood can be attributed to health consciousness, cultural preferences, convenience, sustainability concerns, and globalization. The use of high-quality shrimp feed supports the sustainable expansion of shrimp aquaculture, helping to meet the growing global demand for seafood while minimizing environmental impact and maintaining the health of aquatic ecosystems. For instance, in September 2023, according to the GOV.UK, a UK-based government website, in 2022, the UK imported 647,000 metric tons of sea fish, valued at £3.7 billion, marking an increase in value compared to previous years. Therefore, the increasing demand for seafood is driving the growth of the shrimp feed market.
What are the primary segments of the shrimp feed market?
The shrimp feed market covered in this report is segmented –
1) By Type: Starter Grade, Grower Grade, Finisher Grade
2) By Shrimp Species: Pacific Whiteleg Shrimp, Black Tiger Shrimp, Other Shrimp Species
3) By Ingredients: Fish-Meal Based Feeds, Plant-Based Feeds, Soybean-Meal Based Feeds, Wheat-Based Feeds, Corn-Based Feeds, Other Ingredients
4) By Additives: Vitamins And Proteins, Antioxidants, Antibiotics, Fatty Acids, Feed Enzymes, Other Additives
Subsegments:
1) By Starter Grade: High-Protein Starter Feed, Nutrient-Rich Starter Pellets, Crumble Feed For Early Stage Shrimp, Liquid Starter Feeds, Specialized Starter Feed For Specific Shrimp Species
2) By Grower Grade: Growth-Promoting Shrimp Feed, Medium-Protein Grower Pellets, Feed With Enhanced Digestibility, Formulated Grower Feed With Essential Nutrients, Grower Feed With Omega-3 Fatty Acids
3) By Finisher Grade: High-Energy Finisher Feed, Low-Protein Finisher Pellets, Finisher Feed With Antioxidants And Color Enhancers, Specialized Finisher Feed For Market-Ready Shrimp, Slow-Release Nutrient Finisher Feed
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Which firms are leading the shrimp feed market?
Major companies operating in the shrimp feed market are Cargill Incorporated, The Archer-Daniels-Midland Company, Tongwei Co Ltd, Evonik Industries AG, Charoen Pokphand Food Public Company Limited, Nutreco Holding N.V., Novozymes AS, Alltech Inc., Virbac Corp, Guangdong Yuehai Feeds Group Co Ltd, Ridley Corporation, Avanti Feeds Ltd, Aller Aqua A/S, Rangen Inc, Zeigler Bros Inc, BioMar Ltd, INVE Aquaculture, Growel Feeds Pvt. Ltd, Blue Aqua International Pte Ltd, Bern Aqua NV, ACI Godrej Agrovet Pvt, Guangdong Evergreen Feed Industry Co. Ltd., Thai Union Feedmill Public Company Limited
How will industry trends affect the trajectory of the shrimp feed market?
Major companies operating in the shrimp feed market are focused on developing innovative products, such as functional shrimp feed, to enhance feed efficiency and sustainability. Functional shrimp feed refers to specialized diets formulated not only to meet the basic nutritional needs of shrimp but also to enhance their overall health, growth, and resistance to diseases. These feeds often contain additional ingredients that provide specific benefits beyond basic nutrition. For instance, in May 2024, Skretting, a Norway-based company specializing in aquafeed production, launched Armis, a functional feed for shrimp. This new feed is designed to support the resilience of shrimp facing challenging conditions and provide optimal nutrition to safeguard farm performance. It was specifically developed to address the needs of shrimp farmers in India. This new feed is designed to tackle problems caused by parasites such as Enterocytozoon hepatopenaei (EHP) and other shrimp farming diseases.
Which geographic trends are shaping the shrimp feed market, and which region has the highest market share?
Asia-Pacific was the largest region in the shrimp feed market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the shrimp feed market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Shrimp Feed Market Report 2025 Offer?
The shrimp feed market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Shrimp feed refers to specially formulated diets designed to meet the nutritional requirements of farmed shrimp. These feeds typically contain a balanced mix of proteins, carbohydrates, fats, vitamins, and minerals to ensure optimal shrimp growth, health, and reproduction.
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