Charoen Pokphand Foods PCL., BioMar Group, Aller Aqua Group, Ridley Corporation Limited, Cargill, Incorporated, and Nutreco N.V., among others, are the key players in the Asia Pacific aquafeed market.
As per the analysis by Expert Market Research, the Asia Pacific aquafeed market is being driven by the overall growth in the global market for aquafeed. In the forecast period of 2022-2027, the Asia Pacific aquafeed market size is expected to grow at a CAGR of 10.4%.
Aquafeed is described as the feed given to aquatic farmed animals as part of aquaculture. Fish require a balanced mix of essential nutrients like fatty acids, amino acids, and vitamins to thrive. Aquafeed refers to the combined meals made to feed various marine species by mixing different raw materials and additives. Aquafeed performs an essential role in providing aquatic species with support for normal growth and health. It also aids in reducing the effects of stress, improves disease tolerance power, and enhances immunity.
The Asia Pacific aquafeed market is driven by the rising consumption of seafood and a large population in the region. Seafood holds a major role in dietary habits and is one of the most demanding food items in numerous countries like Thailand, China, Indonesia, Vietnam, Malaysia, Japan, and South Korea. Also, the increasing consumer preference toward a protein-rich diet, coupled with factors such as changing lifestyle patterns and increasing disposable incomes, is expected to enhance the demand for seafood and is further anticipated to propel the market growth over the coming years.
Government initiatives to boost the production of certified sustainable seafood are likely to fuel the market growth in the forecast period. For instance, the Pradhan Mantri Matsya Sampada Yojana (PMMSY), launched by the Indian government, aims to enhance fish production.
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Charoen Pokphand Foods PCL. organises a fully integrated agro-industrial and food business for both terrestrial as well as aquatic animals. These include the major animal categories like pigs, broilers, layer chickens, and ducks, fishes, and shrimps. The company provides quality products as per production standards with environmentally friendly and socially responsible work processes.
BioMar is the market leader in high-performance diets for more than 80 countries and for over 45 distinct fish and shrimp species. Delivering healthy, delicious fish to clients is the company's main goal. They achieve this by developing effective, secure, and nutrient-rich aquaculture feed with little impact on the environment.
Fish feed is produced by Aller Aqua for both freshwater and saltwater aquaculture. The business has been producing fish feed for more than 50 years, making it one of the most seasoned fish feed producers in the world and providing customers with some of the best goods available.
Ridley Corporation Limited is Australia's leading supplier of high-performance animal nutrition products. The business has long been a vital component of Australian agriculture, forming enduring relationships with its suppliers, clients, and neighbourhood groups.
Cargill provides goods and services to customers worldwide in the areas of food, finance, agriculture, and industry. The company works with farmers, customers, governments, and communities to help them flourish by putting its ideas from years of experience to use. Utilising its primary expertise in applied fish nutrition, the organisation has vast experience providing feed for a range of other aquaculture species.
Nutreco is a prominent animal nutrition company proposing solutions that go beyond nutrition. The company offers excellent advice and technology to help consumers generate more feed in a sustainable way to feed rising populations.
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.