Global Aqua Feed Market: Overview
Global aqua feed market is expected to rise in the coming years due to growing demand of global population. Aquaculture provide food security to multiple regions in the world. Fish consumption among humans have risen owing to increase in demand for animal protein and health benefits it provides. The global aqua feed market is also rising due to feasible fish farming practices in various regions. The rise in demand for fish is increasing around the globe. With increase in population, urbanization, and income, the demand and trend for aqua food will witness a significant rise during the forecast period of 2013 to 2019. The dependency on aqua food is likely to rise due to stagnation of capture fish production. Aqua feed are produced in the form of pellets and is distributed externally to various aquatic species. These feeds include essential ingredients that alters the food essential of aquatic species. This has led to popularity and growth of aqua feed market.
Aquatic food is increasing in demand around the globe due to its affordable price and nutrient values. The science of growing and breeding of aquatic products under controlled and supervision environment to sustain the rising demand of aquatic food products, aqua culture, it has gained popularity in the society.
The global aqua feed market is anticipated to grow at a remarkable CAGR of 11.4% during the forecast period of 2013 to 2019. The market value for aqua feed market was US$57.7 bn in 2012 and is expected to rise up to US$122.6 bn by 2019.
Carp to Lead the Global Aqua Feed Market Owing to Rise in Demand
The global aqua feed market’s segment according to end user consist of tilapia, catfish, mollusks, salmon, crustaceans, carp, and others. Among these, carp dominated the end user segment by 25% of the overall global aqua feed market during 2012. The crustaceans and carp segments are expected to witness the fastest growth in the market as they can withstand harsh conditions of environment. During 2012, mollusks segment held the second largest share in the global market. It is anticipated to rise in demand during the forecast period. Mollusks will witness growth in the market due to increased health benefit awareness among consumers about its consumption. Rise in demand for salmon is also expected during the forecast period. This rise is due to rise in disposable income and need to spend on luxurious food items. It will also rise due to many people willing to experiment with taste.
Asia Pacific will Lead Global Aqua Feed Market Due to Rise in Consumption
The global aqua feed market is geographically segmented into Asia Pacific, Europe, North America, and rest of the world. Asia pacific led the global aqua feed market by holding 65% of the total share during 2012. This region is expected to rise due to increase consumption of seafood. The expanding aquaculture facilities in this region will retain its dominant position in the market during the forecast period. Whereas, Europe stood as the second leading region in the global market during the same year. This rise in consumption is due to increased disposable income along with effective import facilities.
Some of the leading companies in the market are Beneo Cargill Inorporated, Alltech Inc., Dibaq Aquaculture, BioMar A/S, Nutreco N.V., NK Ingredient Pvt Ltd., Aller Aqua, Ridley Aqua-Feed, Avanti Feeds Ltd., Norel Animal Nutrition, Tongwei, Cermaq ASA, and Charoen Pokphand Foods Company Ltd.
Aqua feed refers to industrially manufactured food containing vital ingredients for various aquatic species such as crustaceans, mollusks, and fishes. Aqua feed is administered to aquatic species externally in the form of pellets. The report takes into account the various factors affecting the growth of the global aqua feed market. The report also studies the impact of Porter’s five forces on the growth of the market.
The global aqua feed market has been segmented on the basis of end users and regions. The demand for aqua feed from each of the end user segments has been analyzed in the report. It studies the growth of the market across the key geographical regions.
On the competitive front, the major players involved in the global aqua feed market are profiled, and insights into their product portfolio, business strategies, and recent developments are also included. The various growth opportunities witnessed by the market players through the forecast period are analyzed using SWOT analysis.
Overview of Global Aqua Feed Market
The global aqua feed market is expected to expand at a CAGR of 11.4% during the period between 2013 and 2019. The report projects the overall market to be worth US$122.6 bn by the end of 2019. The global aqua feed market stood at a valuation of US$57.7 bn in 2012. The growing consumption of fish has been driving the demand from the global aqua feed market. However, fluctuating costs of vital raw materials used in aqua feed will restrain the overall market. Nevertheless the growing demand for conventional and functional aqua feed from China and Rest of Asia will create new opportunities for the market.
Based on end-users, the global aqua feed market has been categorized into carp, mollusks, crustaceans, catfish, salmon, tilapia, and others. The highest demand for aqua feed was witnessed from the carps segment in 2012 and the segment held 25% of the market. During the forecast period, the crustaceans and carps segments are anticipated to register the fastest growth in the market. Demand from the mollusks and salmons segments is also expected to contribute towards the growth of the market.
On the basis of geography, the global aqua feed market has been segmented into North America, Asia Pacific, Europe, and Rest of the World. In 2012, Asia Pacific accounted for a share of 65% in the global aqua feed market. Europe followed as the second largest regional market. In the coming years, Asia Pacific is expected to continue its dominance owing to the high demand for fish and the rapid growth in the aquaculture facilities in the region.
Major Companies in Global Aqua Feed Market
Some of the major companies involved in the global aqua feed market are Alltech Inc., Aller Aqua, Beneo, Norel Animal Nutrition, Cargill Incorporated, Avanti Feeds Ltd., BioMar A/S, Cermaq ASA, Dibaq Aquaculture, Charoen Pokphand Foods Company Ltd., NK Ingredients Pte Ltd., Nutriad, Nutreco N.V., Tongwei, and Ridley Aqua-Feed.
Aqua Feed Market by End-Users
- Others (Trouts, eels, milkfish, etc.)
Aqua Feed Market by Geography
- North America
- Asia Pacific
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- A clear understanding of the competitive landscape and key product segments