Fish Food Market: Introduction

  • Fish food, also known as fish feed, are consumed by fish and help in their wellbeing. Fish feed help fish in their growth and ultimately the fish become suitable for human consumption.

Key Drivers of the Global Fish Food Market

  • A rise in sale and production of animal feed is seen across the world. According to the 2019 Global Feed Survey by Alltech, global production of animal feed touched 1.103 billion metric tons in 2018. Global aquaculture or fish food market saw a year on year growth of 4.0% in 2018. As per Altech, Asia Pacific and European countries are seeing a rise in demand for fish food. Presently, fish feed holds a share of only 4.0% of the global animal feed production, with enough room for market growth.
  • Asia Pacific and Europe are witnessing a rise in sale of shrimps and salmons respectively. The rise in sale of shrimps is evident from the fact that Asia Pacific is the dominant consumer and producer of shrimp feed in the world. Similarly, salmon is hugely popular across Europe which is apparent since Europe is the largest consumer and producer of salmon feed in the world. Thus, the market for shrimp and salmon feeds is growing in Asia Pacific and Europe respectively. Growth of fish feed has ample scope since the growth of fish as food exceeds the growth rate of fish.

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Market in Asia Pacific to Expand Rapidly

  • In terms of geography, the global fish food market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA)
  • North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the fish food market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the fish food market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America fish food market is segmented into Brazil, and Rest of South America.
  • As per global fish food company Alltech, Asia Pacific is anticipated to be the dominant fish food market in the world. Asia Pacific is also expected to be the fastest growing fish food market during the forecast period

Key Players Operating in the Global Market

The fish food market is fragmented owing to the presence of few global and several domestic players. Also, companies are estimated to see growing demand for fish food during the forecast years due to a growing fishing industry. Players in the fish food market are launching new products, and entering into mergers and acquisition. The overall market is projected to observe a surge in the trend of rising sales due to higher purchasing power in developing countries. This in turn is expected to drive the adoption rate of fish food.

A few of the key players operating in the global fish food market are:

  • Archer Daniels Midland
  • Cargill Corporation
  • Ridley Corporation Ltd.
  • Nutreco N.V.
  • Alltech 
  • Aller Aqua A/S
  • BIOMIN Holding GmbH
  • BioMar A/S
  • Norel Animal Nutrition 
  • Avanti Feeds

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Global Fish Food Market: Research Scope

Global Fish Food Market, by Species

  • Shrimp
  • Salmon
  • Mollusks
  • Crustaceans
  • Other Fish Species (Talapia, Prawns, etc.)

Global Fish Food Market, by Ingredient

  • Soybean
  • Fishmeal
  • Corn
  • Additives
  • Fish Oil
  • Others (poultry, wheat, poultry by-product, distillers dried grains with soluble (DDGS), etc.)

Global Fish Food Market, by Lifecycle

  • Starter feed
  • Grower feed
  • Finisher feed
  • Brooder feed

Global Fish Food Market, by Price

  • Low
  • Medium
  • High

Global Fish Food Market, by Distribution Channel

  • Online
    • E-commerce Websites
    • Company-Owned Websites
  • Offline
    • Specialty Stores
    • Large Format Stores
    • Independent Retailers
    • Others

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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