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Global Aquafeed Market by Ingredient (Oils & Fats, Additives, Grain By-product, Animal By-product), by Form (Wet, Dry, Moist) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

  • Report ID: FFA-74779
  • Author: Up Market Research
  • Rating: 4.8
  • Total Reviews: 92
  • No. Of Pages: 230
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  • Pub. Date: 2021-10-21
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Summary of the Report

Global aquafeed market was worth USD 63.8 billion in 2019. It is projected to grow at a compound annual rate (CAGR of 4.3%) between 2020 and 2027. The industry is expected to grow due to increasing direct consumption of seafood by humans and increased demand for aqua products over the forecast period. Market growth is expected to be driven by rising demand for animal byproducts such as shrimp meals, fish meals, and squid meal in feed applications, particularly in emerging economies like India, China and Vietnam. Technological advancements in feed formulation are also responsible for the growth of developed economies. These factors have helped to increase aquafeed demand.

Fish is lower in fat than other meats like chicken and cattle. Fish is also a good source of vitamins and proteins, so it is mostly consumed for human consumption. There are many factors that have contributed to an increase in fish consumption, including the availability of more fish species on the market and consumer preference for different flavors. These factors have led to a rise in demand for fish and fish-products, which is expected to continue driving the industry.

The industry faces many challenges, including fluctuations in ingredients prices such as corn or soybean prices. This is due to a variety of factors like fluctuating oil prices and adverse weather conditions and global currency fluctuations. These factors will likely have an impact on market growth in the future. Key players will likely benefit from the use of supplemental additives to increase the nutritional value and quality of feed.

Form Insights

The market leader in dry form was more than 36.0% of global revenue in 2019, and it accounted for over 36% of that total. Dry form feed is easy to make, store and transport. This type of feed has many advantages. It can be made in different sizes to meet specific requirements. The segment's growth is expected to be driven by the availability of different feed sizes and the production specialized feeds with this form.

Wet feed is made with high-moisture ingredients such as trash feed and fishery waste. The main factors expected to influence the growth and popularity of the wet food segment are increased palatability, high utilization rate, and improved taste. This type of feed is usually fed to carnivorous animals such as sea breams and sea bass.

You can make moist feed using either dry or wet feed. This form is easier to digest and has a more efficient feed efficiency. This form has limitations due to storage and transportation. It also needs refrigeration or a favorable environment to prevent spoilage.

Application Insights

The market leader in catfish was held by more than 25% of the total revenue in the U.S. The most popular aquaculture species in Europe and Asia is the carp. Because of their high profitability, carps are widely farmed in China as well as Indonesia. Segment growth will be positively impacted by improved management practices in Central and Eastern Europe for carp production.

Atlantic salmon is the most widely farmed species. It contributes to more than 90% of all farmed salmon. This is due to its robustness, ease of farming, and versatility. Chinook and Coho are two varieties of Pacific salmon. Its primary food is fish oil and fish flesh. Due to heavy metals and contaminants, these feeds are only made by a handful of manufacturers. This has prompted extensive research to replace fish products with vegetable oils and protein.

Others applications include species such as cod, tuna and flatfish. This segment is growing due to increased fish farming in countries like China, Taiwan, and Vietnam. The forecast period will see an increase in aquafeed consumption from these species and an increase in aquaculture production.

Ingredient Insights

Grain by-products dominated the market, accounting for over 37.0% of global revenue in 2019. This includes cornmeal, soybean meal, cottonseed protein, canola meal and soybean meal. Segment growth is fueled by the cost-effectiveness of feed formulations compared to animal products. The segment will also benefit from improvements in the amino acid profiles of the mentioned grains.

One of the most popular ingredient categories is animal by-products. This category includes animal byproducts like fish meal, fish meat protein and shrimp meal. Segment growth is expected to be supported by a high protein content and a good amino acid profile. The segment growth will be impeded by the increasing use of soy-based products to replace fish meal.

Oils and fats, oils, additives and grains are all examples of other ingredients. The product demand is expected to rise due to the high level of omega-3 fatty acid and other additives like feed acidifiers, vitamins, anti-parasitic and others. The industry is also expected to grow by incorporating grains such as corn, wheat, rapeseed and rice to improve the nutritional profile of the formulation.

Feed Type Insights

Grower feed accounted for 34.17% of global revenue in 2019, and led the market. Grower feed is able to depose protein at a higher rate and convert it better. This feed type also allows for high flexibility in formulations. Segment growth is expected to be boosted by an increase in demand for supplementary feeds and a growing stock of grower fish.

Due to rising prices of ingredients, finisher and brooder diets can be very expensive. The most expensive finisher diets are found in Asia Pacific, where Japan, Korea and Vietnam are among others. These feed types will be further supported by large-scale aquaculture production in China, India and other countries in the long term.

Brooder diets are designed based on essential nutrients and the respective reproductive biology of each fish species. These diets have been adopted by fish farmers to increase the performance potential and health. The quality of the offspring is very dependent on it. This is a significant factor in nutrient delivery and accumulation from females.

Regional Insights

Asia Pacific dominated the market in 2019, accounting for more than 40.0% of global revenue. It is expected to continue its dominance over the forecast period. The forecast period will see increased product demand due to factors like ease of aquaculture, longevity of species and better water quality in closed-farm systems.

Europe was the second largest consumer of salmon, as it is the main producer. The growing popularity of salmon farming in Europe, particularly in areas near the coasts with temperate climates, is expected to have a positive effect on market growth. The demand for anesthesia and sedation materials during transport has increased due to rising demand for salmon from the interior regions. This has driven the demand of additives.

Chile, Brazil and Mexico are the main centers of South America's aquaculture industry. These countries accounted for more than 80% of regional aquaculture production as of 2019. The region's aquaculture industry contributes to job creation, food security, foreign currency generation, and employment. The region is home to many important aquatic species, including salmonids and shrimps, tilapia and mollusks as well as carp, carp, and seaweed.

Market Share Insights & Key Companies

Backward integration is a key focus for manufacturers operating on the market. This allows them to expand their product range and control the quality of their final product. Manufacturers may see a rise in profit margins due to their ability to produce premium aquafeed additives and to control the price of the product. The manufacturers are also able manage the production, distribution, marketing and sale of final products cost-effectively and efficiently. The following companies are major players in the global aquafeed market:

  • Alltech

  • BioMar

  • Cargill, Incorporated

  • Ridley Corporation

  • Aller Aqua A/S

  • Beneo GmbH

  • Cermaq

  • Norel Animal Nutrition

  • Biomin Holding GmbH

  • Archer Daniels Midland (ADM).

  • Avanti Feeds Ltd.

Up Market Research published a new report titled “Aquafeed Market research report which is segmented by Ingredient (Oils & Fats, Additives, Grain By-product, Animal By-product), by Form (Wet, Dry, Moist), By Players/Companies Biomar, Aller Aqua, Alltech Inc, Addcon Group GmbH, Biomin, Dibaq Aquaculture, Ridley”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.


Report Scope

Report AttributesReport Details
Report TitleAquafeed Market Research Report
By IngredientOils & Fats, Additives, Grain By-product, Animal By-product
By FormWet, Dry, Moist
By CompaniesBiomar, Aller Aqua, Alltech Inc, Addcon Group GmbH, Biomin, Dibaq Aquaculture, Ridley
Regions CoveredNorth America, Europe, APAC, Latin America, MEA
Base Year2020
Historical Year2018 to 2019 (Data from 2010 can be provided as per availability)
Forecast Year2028
Number of Pages230
Number of Tables & Figures161
Customization AvailableYes, the report can be customized as per your need.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.


Global Aquafeed Industry Outlook

Global Aquafeed Market Report Segments:

The market is segmented by Ingredient (Oils & Fats, Additives, Grain By-product, Animal By-product), by Form (Wet, Dry, Moist).

Aquafeed Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.


Key Benefits for Industry Participants & Stakeholders:

  • Industry drivers, restraints, and opportunities covered in the study
  • Neutral perspective on the market performance
  • Recent industry trends and developments
  • Competitive landscape & strategies of key players
  • Potential & niche segments and regions exhibiting promising growth covered
  • Historical, current, and projected market size, in terms of value
  • In-depth analysis of the Aquafeed Market

Overview of the regional outlook of the Aquafeed Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.


Aquafeed Market Overview

Highlights of The Aquafeed Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of Aquafeed Market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2028.
  5. Developments and trends in the market.
        6. By Ingredient:

                1. Oils & Fats

                2. Additives

                3. Grain By-product

                4. Animal By-product

        7. By Form:

                1. Wet

                2. Dry

                3. Moist

  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Aquafeed Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.


How you may use our products:

  • Correctly Positioning New Products
  • Market Entry Strategies
  • Business Expansion Strategies
  • Consumer Insights
  • Understanding Competition Scenario
  • Product & Brand Management
  • Channel & Customer Management
  • Identifying Appropriate Advertising Appeals

Aquafeed Market Trends

Reasons to Purchase the Aquafeed Market Report:

  • The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
  • Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
  • Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
  • The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
  • Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Aquafeed Market Overview
   4.1 Introduction 
      4.1.1 Market Taxonomy 
      4.1.2 Market Definition 
      4.1.3 Macro-Economic Factors Impacting the Market Growth 
   4.2 Aquafeed Market Dynamics 
      4.2.1 Market Drivers 
      4.2.2 Market Restraints 
      4.2.3 Market Opportunity 
   4.3 Aquafeed Market - Supply Chain Analysis 
      4.3.1 List of Key Suppliers 
      4.3.2 List of Key Distributors 
      4.3.3 List of Key Consumers 
   4.4 Key Forces Shaping the Aquafeed Market 
      4.4.1 Bargaining Power of Suppliers 
      4.4.2 Bargaining Power of Buyers 
      4.4.3 Threat of Substitution 
      4.4.4 Threat of New Entrants 
      4.4.5 Competitive Rivalry 
   4.5 Global Aquafeed Market Size & Forecast, 2018-2028 
      4.5.1 Aquafeed Market Size and Y-o-Y Growth 
      4.5.2 Aquafeed Market Absolute $ Opportunity 


Chapter 5 Global Aquafeed Market Analysis and Forecast by Ingredient
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities by Ingredient
      5.1.2 Basis Point Share (BPS) Analysis by Ingredient
      5.1.3 Absolute $ Opportunity Assessment by Ingredient
   5.2 Aquafeed Market Size Forecast by Ingredient
      5.2.1 Oils & Fats
      5.2.2 Additives
      5.2.3 Grain By-product
      5.2.4 Animal By-product
   5.3 Market Attractiveness Analysis by Ingredient

Chapter 6 Global Aquafeed Market Analysis and Forecast by Form
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities by Form
      6.1.2 Basis Point Share (BPS) Analysis by Form
      6.1.3 Absolute $ Opportunity Assessment by Form
   6.2 Aquafeed Market Size Forecast by Form
      6.2.1 Wet
      6.2.2 Dry
      6.2.3 Moist
   6.3 Market Attractiveness Analysis by Form

Chapter 7 Global Aquafeed Market Analysis and Forecast by Region
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities by Region
      7.1.2 Basis Point Share (BPS) Analysis by Region
      7.1.3 Absolute $ Opportunity Assessment by Region
   7.2 Aquafeed Market Size Forecast by Region
      7.2.1 North America
      7.2.2 Europe
      7.2.3 Asia Pacific
      7.2.4 Latin America
      7.2.5 Middle East & Africa (MEA)
   7.3 Market Attractiveness Analysis by Region

Chapter 8 Coronavirus Disease (COVID-19) Impact 
   8.1 Introduction 
   8.2 Current & Future Impact Analysis 
   8.3 Economic Impact Analysis 
   8.4 Government Policies 
   8.5 Investment Scenario

Chapter 9 North America Aquafeed Analysis and Forecast
   9.1 Introduction
   9.2 North America Aquafeed Market Size Forecast by Country
      9.2.1 U.S.
      9.2.2 Canada
   9.3 Basis Point Share (BPS) Analysis by Country
   9.4 Absolute $ Opportunity Assessment by Country
   9.5 Market Attractiveness Analysis by Country
   9.6 North America Aquafeed Market Size Forecast by Ingredient
      9.6.1 Oils & Fats
      9.6.2 Additives
      9.6.3 Grain By-product
      9.6.4 Animal By-product
   9.7 Basis Point Share (BPS) Analysis by Ingredient 
   9.8 Absolute $ Opportunity Assessment by Ingredient 
   9.9 Market Attractiveness Analysis by Ingredient
   9.10 North America Aquafeed Market Size Forecast by Form
      9.10.1 Wet
      9.10.2 Dry
      9.10.3 Moist
   9.11 Basis Point Share (BPS) Analysis by Form 
   9.12 Absolute $ Opportunity Assessment by Form 
   9.13 Market Attractiveness Analysis by Form

Chapter 10 Europe Aquafeed Analysis and Forecast
   10.1 Introduction
   10.2 Europe Aquafeed Market Size Forecast by Country
      10.2.1 Germany
      10.2.2 France
      10.2.3 Italy
      10.2.4 U.K.
      10.2.5 Spain
      10.2.6 Russia
      10.2.7 Rest of Europe
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 Europe Aquafeed Market Size Forecast by Ingredient
      10.6.1 Oils & Fats
      10.6.2 Additives
      10.6.3 Grain By-product
      10.6.4 Animal By-product
   10.7 Basis Point Share (BPS) Analysis by Ingredient 
   10.8 Absolute $ Opportunity Assessment by Ingredient 
   10.9 Market Attractiveness Analysis by Ingredient
   10.10 Europe Aquafeed Market Size Forecast by Form
      10.10.1 Wet
      10.10.2 Dry
      10.10.3 Moist
   10.11 Basis Point Share (BPS) Analysis by Form 
   10.12 Absolute $ Opportunity Assessment by Form 
   10.13 Market Attractiveness Analysis by Form

Chapter 11 Asia Pacific Aquafeed Analysis and Forecast
   11.1 Introduction
   11.2 Asia Pacific Aquafeed Market Size Forecast by Country
      11.2.1 China
      11.2.2 Japan
      11.2.3 South Korea
      11.2.4 India
      11.2.5 Australia
      11.2.6 South East Asia (SEA)
      11.2.7 Rest of Asia Pacific (APAC)
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Asia Pacific Aquafeed Market Size Forecast by Ingredient
      11.6.1 Oils & Fats
      11.6.2 Additives
      11.6.3 Grain By-product
      11.6.4 Animal By-product
   11.7 Basis Point Share (BPS) Analysis by Ingredient 
   11.8 Absolute $ Opportunity Assessment by Ingredient 
   11.9 Market Attractiveness Analysis by Ingredient
   11.10 Asia Pacific Aquafeed Market Size Forecast by Form
      11.10.1 Wet
      11.10.2 Dry
      11.10.3 Moist
   11.11 Basis Point Share (BPS) Analysis by Form 
   11.12 Absolute $ Opportunity Assessment by Form 
   11.13 Market Attractiveness Analysis by Form

Chapter 12 Latin America Aquafeed Analysis and Forecast
   12.1 Introduction
   12.2 Latin America Aquafeed Market Size Forecast by Country
      12.2.1 Brazil
      12.2.2 Mexico
      12.2.3 Rest of Latin America (LATAM)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Latin America Aquafeed Market Size Forecast by Ingredient
      12.6.1 Oils & Fats
      12.6.2 Additives
      12.6.3 Grain By-product
      12.6.4 Animal By-product
   12.7 Basis Point Share (BPS) Analysis by Ingredient 
   12.8 Absolute $ Opportunity Assessment by Ingredient 
   12.9 Market Attractiveness Analysis by Ingredient
   12.10 Latin America Aquafeed Market Size Forecast by Form
      12.10.1 Wet
      12.10.2 Dry
      12.10.3 Moist
   12.11 Basis Point Share (BPS) Analysis by Form 
   12.12 Absolute $ Opportunity Assessment by Form 
   12.13 Market Attractiveness Analysis by Form

Chapter 13 Middle East & Africa (MEA) Aquafeed Analysis and Forecast
   13.1 Introduction
   13.2 Middle East & Africa (MEA) Aquafeed Market Size Forecast by Country
      13.2.1 Saudi Arabia
      13.2.2 South Africa
      13.2.3 UAE
      13.2.4 Rest of Middle East & Africa (MEA)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Middle East & Africa (MEA) Aquafeed Market Size Forecast by Ingredient
      13.6.1 Oils & Fats
      13.6.2 Additives
      13.6.3 Grain By-product
      13.6.4 Animal By-product
   13.7 Basis Point Share (BPS) Analysis by Ingredient 
   13.8 Absolute $ Opportunity Assessment by Ingredient 
   13.9 Market Attractiveness Analysis by Ingredient
   13.10 Middle East & Africa (MEA) Aquafeed Market Size Forecast by Form
      13.10.1 Wet
      13.10.2 Dry
      13.10.3 Moist
   13.11 Basis Point Share (BPS) Analysis by Form 
   13.12 Absolute $ Opportunity Assessment by Form 
   13.13 Market Attractiveness Analysis by Form

Chapter 14 Competition Landscape 
   14.1 Aquafeed Market: Competitive Dashboard
   14.2 Global Aquafeed Market: Market Share Analysis, 2019
   14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.3.1 Biomar
      14.3.2 Aller Aqua
      14.3.3 Alltech Inc
      14.3.4 Addcon Group GmbH
      14.3.5 Biomin
      14.3.6 Dibaq Aquaculture
      14.3.7 Ridley
Segments Covered in the Report
The global Aquafeed market has been segmented based on

By Ingredient
  • Oils & Fats
  • Additives
  • Grain By-product
  • Animal By-product
By Form
  • Wet
  • Dry
  • Moist
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Biomar
  • Aller Aqua
  • Alltech Inc
  • Addcon Group GmbH
  • Biomin
  • Dibaq Aquaculture
  • Ridley

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