Global Aqua Feed Market: Snapshot
The far-reaching role of aquaculture in aiding food security for the rising global population is the major factor driving the global aqua feed market. Furthermore, growing human consumption of fish for the health benefits of animal protein necessitates sustainable fish farming practices, thereby positively influencing the aqua feed market.
The demand for fish continues to grow in most parts of the world. With growing population, expanding urbanization, and increasing incomes in developing regions, the trend is expected to continue. However, due to stagnation in capture fish production over the past decades, the dependence on aquaculture is expected to be on the rise in the coming decades. Thus, the global aqua feed market is expected to be benefitted.
Aqua feed is manufactured in the form of pellets and is dispensed to aquatic species externally. Aqua feed contains vital ingredients that can be altered as per the food requirement of aquatic species, which has led to the growth and popularity of the aqua feed market over the past couple of years.
Nonetheless, volatile prices of raw materials such as fish meal and fish oil are expected to hamper the market’s growth. Moreover, the commercial fishing industry perceives aquaculture as competition, which is challenging the market’s growth. However, with a rising global population, aquaculture could cater to the seafood industry for supplying fish in the years to come. Furthermore, the increasing demand for both conventional and functional aqua feed in Asia is expected to present new opportunities to the market’s growth.
The global aqua feed market is expected to rise at a CAGR of 11.4% between 2013 and 2019 for the market’s valuation to increase from US$57.7 bn in 2012 to US$122.6 bn by 2019.
Asia Pacific to continue being Leading Regional Market for Aqua Feed
In terms of geography, North America, Europe, Asia Pacific, and Rest of the World (RoW) are the segments into which the global aqua feed market is divided. Asia Pacific stood as the leading regional market accounting for more than 65% of the global aqua feed market in 2012. The region is expected to retain its dominant position in the coming years as well due to the high demand for fish and expanding aquaculture facilities in the region. Europe stood as the second-largest regional market in the same year. Countries in the Rest of the World region are also expected to display considerable demand for aqua feed in the coming years.
Mollusks End-use Segment to Display Strong Demand for Aqua Feed
In terms of end-user, the global aqua feed market has classified into carp, crustaceans, salmon, mollusks, catfish, tilapia, and others. Carp stood as the leading end-use segment and accounting for 25% of the global aqua feed market in 2012. The carp and crustaceans segments are expected to display the fastest growth as they can withstand harsh environmental conditions. In 2012, mollusks segment accounted for the second largest share of the overall market and is expected to display above average growth rate in the near future. This is mainly due to the increasing consumer awareness about the health benefits of mollusks.
High demand for aqua feed from salmon and mollusks segments is also anticipated to contribute towards the market’s growth.
Some of the leading companies in the global aqua feed market are Alltech Inc., Beneo, Cargill Incorporated, BioMar A/S, Dibaq Aquaculture, NK Ingredients Pvt Ltd., Nutreco N.V., Ridley Aqua-Feed, Aller Aqua, Norel Animal Nutrition, Avanti Feeds Ltd., Cermaq ASA, Charoen Pokphand Foods Company Ltd.,Nutriad, and Tongwei.
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