Global Aquaculture Feed Market to Grow at a CAGR of 5.3% During 2024-2032, Aided by the Expansion of Aquaculture and an Increasing Consumer Awareness Regarding the Quality of Seafood Products

The growth of the aquaculture feed market has been propelled by the increased global consumption of seafood and a heightened awareness among consumers regarding the quality of seafood products. Additionally, the rise in per capita income, particularly in developing nations, is anticipated to sustain the growth of the aquaculture and aquafeed industry. However, in the long term, the escalation in raw material costs is expected to pose a constraint on the market growth, as a substantial portion of high-quality feed relies on fish meal and fish oil for preparation.

The market is experiencing heightened growth due to the increasing cultivation of aquatic animals worldwide. Furthermore, the growing demand for organic fish oil across various industry verticals, including pharmaceuticals, food and beverages (F&B), and nutraceuticals, is contributing to the favourable expansion of the market. The versatile applications of organic fish oil have enhanced its significance across diverse sectors.

In January 2022, Archer Daniels Midland Company (NYSE: ADM), a worldwide leader in human and animal nutrition, announced the inauguration of its Aquaculture Innovation Lab at the Animal Nutrition Technology Center (ANTC) in Decatur, Illinois. This facility marks ADM's expansion in terms of its research and development capabilities, in a new region, complementing existing aquaculture research facilities situated in Brazil, Mexico, and Vietnam.

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Market Breakup by Species, Ingredients, Additives, Product Form, and Region:

• The market on the basis of species can be divided into carp, marine shrimps, tilapias, catfishes, marine fishes, salmons, freshwater (FW) crustaceans, trouts, and others.

• Based on ingredients, the market can be divided into soybean, corn, fish meal, fish oil, additives, and others.

• The market on the basis of additives can be divided into vitamins and minerals, antioxidants, feed enzymes, and others.

• Based on product form, the market can be divided into pellets, extruded, powdered, and liquid.

• The regional markets for aquaculture feed include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The market is expected to witness rapid growth due to the increasing prevalence of fish farming activities. Manufacturers are showing a growing inclination towards natural and organic feed products, marking a notable trend in the market.

• The growing shift to natural products is expected to propel the market for plant-based aquafeed in the coming years. These aquafeed products are produced through a combination of traditional and modern technology-driven processes, reflecting the sector’s commitment to adopting diverse and sustainable approaches in aquaculture.

• Additionally, the expanding global population has heightened the demand for seafood, and aquaculture emerges as a sustainable solution to meet this growing need. The depletion of wild fish stocks has led to the increased popularity of fish and shrimp farming. Aqua feed plays a pivotal role in ensuring the healthy growth and development of aquatic species in aquaculture, ultimately enhancing their output and reducing dependence on foraging wild fish. This emphasizes the significant role of aquafeed in supporting sustainable practices within the aquaculture market.

Key Offerings of the Report:

• The EMR report gives an overview of the global aquaculture feed market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the species, ingredients, additives, product form, and region, of aquaculture feed.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, value chain analysis, price analysis, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the aquaculture feed market include Archer Daniels Midland Company, Cargill, Ridley Corporation Limited, Nutreco N.V., and Alltech, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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