The global aqua feed market is extremely fragmented and competitive in nature, owing to the presence of a large number of small and medium-sized aqua feed manufacturers across the globe, states a research report by Transparency Market Research (TMR). Some of the prominent players operating in the global aqua feed market are BioMar A/S, Avanti Feeds Ltd., Cargill Incorporated, Aller Aqua A/S, Beneo GmbH, Dibaq Aquaculture, Alltech Inc., and Cermaq ASA. These players are making noteworthy efforts to boost their market penetration and achieve a top position in the global market. In addition, these players are emphasizing on the expansion of their product portfolio and quality of their products, which is likely to contribute essentially towards the development of the overall market.
According to the research report by Transparency Market Research, the global market for aqua feed is expected to reach a value of US$122.6 bn by the end of 2019. This market is anticipated to witness a progressive growth rate throughout the forecast period.
Developing Aquaculture Industry to Bolster Asia Pacific Aqua Feed Market
On the basis of geography, the global aqua feed market has been divided into North America, Europe, Asia Pacific, and the Rest of the World. Among these, in 2015, Asia Pacific led the global aqua feed market and is anticipated to remain in the prominent position throughout the forecast period. The high growth of this region can be attributed to the flourishing aquaculture industry and the rising demand for high-quality fishes. On the other hand, the demand for aqua feed is estimated to rise substantially in several countries in the Rest of the World segment in the near future.
In terms of end use, the carps segment is likely to lead the global aqua feed market and account for a key share in the forecast period. The compatibility of carbs to survive in harsh environmental conditions is the primary factor augmenting the growth of this segment in the next few years. The mollusks segment is anticipated to be in the second position and witness a steady growth, thanks to the growing consumer awareness regarding the health benefits offered by mollusks.
Rising Seafood Trades to Bolster Global Aqua Feed Market
The growing seafood trade and the rising production capacity are some of the key factor fuelling the growth of the global aqua feed market. In addition, the rising demand for high quality fish in the global aquaculture industry and the initiatives by several regulatory agencies on encouraging aquaculture activities are likely to augment global aqua feed market in the next few years. Key players in the market are also focusing on creating an awareness among consumers and increase their market penetration.
Furthermore, the rising human consumption of fish and the increasing inclination towards functional and conventional aqua feed are likely to supplement market’s growth in the coming years. Moreover, the rising number of players in the market, emphasizing on innovations is estimated to drive the global aqua feed market.
Fluctuating Raw Material Prices to Curtail Market Growth
The global aqua feed market, on the contrary, is expected to face several challenges in the coming years, owing to the rise in prices of the feed ingredients. Moreover, the negative impact of aqua feed on the environment is expected to restrict the growth of the global aqua feed market. Nonetheless, the replacement of farm-made feed by formulated feed is expected to generate promising opportunities for the leading players.
This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “Aqua Feed Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013-2019.”
The market has been segmented as below:
Global Aqua Feed Market, by End Use
- Others (Trouts, eels, milkfish, etc.)
Global Aqua Feed Market, by Geography
- North America
- Asia Pacific
- Rest of the World
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