Aquatic Feed Ingredients And Products Market Analysis APAC, Europe, North America, South America, Middle East and Africa - China, US, Norway, Vietnam, Indonesia - Size and Forecast 2024-2028

Aquatic Feed Ingredients And Products Market Size 2024-2028

The aquatic feed ingredients and products market size is forecast to increase by USD 4.73 billion, at a CAGR of 5.8% between 2023 and 2028.

• The market is experiencing significant growth due to several key factors. One major trend is the increase in production of nutrient-rich, aquatic-based food sources, which is driving demand for high-quality feed ingredients. Additionally, technological advancements are transforming the industry, with innovations in areas such as feed formulation and delivery systems. Furthermore, there is a growing inclination toward vegan food options, which is leading to an increased focus on plant-based feed ingredients for aquaculture. These trends are expected to continue shaping the market in the coming years.

What will be the Size of the Aquatic Feed Ingredients And Products Market During the Forecast Period?

Request Free Sample

• The market is experiencing significant growth due to the increasing demand for nutrient-rich food derived from aquaculture production. Aquaculture, a key contributor to global food security, has seen a rise in consumption, particularly in the production of fish and crustaceans. Compound aquatic feed plays a crucial role in optimizing the growth and health of aquatic species, with evolving feed equipment enabling more efficient production. Soybean meal, fish meal, fish oil, corn/maize, and other grains, oils, and fats serve as essential raw materials in the production of high-quality aquafeed. Marine proteins, such as fishmeal and fish oil, have traditionally been key ingredients, but alternative plant-based sources and sustainable aquaculture practices are driving innovation in the market.
• Aquaculture technologies continue to advance, focusing on improving nutrition, reducing production costs, and enhancing sustainability. The market encompasses a diverse range of aquatic species, including ornamental fish, and caters to various sectors, from fish production for human consumption to the production of aquatic species for aquarium trade. The global aquaculture industry's expansion is driven by the growing demand for seafood and the need for sustainable, efficient, and cost-effective production methods. Aquafeed manufacturers are responding to these trends by investing in research and development to create innovative, high-performance feeds using alternative ingredients and advanced additives.

How is this Aquatic Feed Ingredients And Products Industry segmented and which is the largest segment?

The aquatic feed ingredients and products industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Type
  • Fishes
  • Crustaceans
  • Others
• Product
  • Soybean
  • Fish meal and fish oil
  • Corn/maize
  • Others
• Geography
  • APAC
    • China
    • Vietnam
  • Europe
    • Norway
  • North America
    • US
  • South America
  • Middle East and Africa

By Type Insights

• The fishes segment is estimated to witness significant growth during the forecast period.

The market is experiencing growth, with a significant focus on the fishes segment, which includes salmon, catfish, tilapia, diadromous fishes, and others. However, the consumption rate of common fish varieties is projected to decline during the forecast period, particularly in urban areas due to a preference shift towards crustaceans like shrimp. Despite this trend, the relatively low cost and ease of cultivation make these fish species a popular choice in rural areas, contributing to market revenue. The market encompasses a range of products, from compound aquatic feed to feed equipment, and includes essential ingredients such as soybean meal, fish meal, fish oil, corn/maize, and various vitamins, minerals, functional additives, probiotics, enzymes, and antioxidants.

The market also focuses on sustainable aquaculture and alternative protein sources, such as insect proteins and plant-based alternatives, to address human health concerns and reduce the use of antibiotics in feed. Innovations in dry form aquafeed and pelletized feeds, as well as advances in aquaculture technologies, are driving market growth. Additionally, the market caters to the nutritional needs of various aquatic species, including ornamental fish, and addresses concerns related to wastewater management, methane emissions, and carbon footprint.

Get a glance at the Aquatic Feed Ingredients And Products Industry report of share of various segments Request Free Sample

The fishes segment was valued at USD 9.03 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

• APAC is estimated to contribute 44% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

For more insights on the market share of various regions, Request Free Sample

The market in APAC is experiencing significant growth due to increasing aquaculture production and rising seafood consumption in the region. companies are expanding their production capacity to meet the demand for high-quality aquafeed, which is essential for improving the nutritional needs of farmed aquatic species, including fish and crustaceans. Key ingredients in aquatic feed include soybean meal, fish meal, fish oil, corn/maize, and various vitamins, minerals, and functional additives. The evolution of feed equipment and technologies has led to the development of compound aquatic feed, pelletized feeds, and dry-form aquafeed. Sustainability is a critical factor in the market, with a focus on alternative protein sources such as insect proteins and plant-based alternatives. However, human health concerns regarding antibiotics in feed and the need for wastewater management and methane emissions reduction are challenges that the market must address. The market is expected to continue growing, driven by the demand for seafood and the development of innovative aquafeed solutions.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in the adoption of the Aquatic Feed Ingredients And Products Industry?

An increase in production of nutrient-rich, aquatic-based food is the key driver of the market.

• The market caters to the nutritional needs of various aquatic species, including fish and crustaceans, in the rapidly expanding aquaculture industry. Aquatic feed is essential for optimizing growth and ensuring the health of aquatic organisms. The market is driven by the increasing consumption of aquaculture products, particularly seafood, due to their high nutritional value. Aquatic feed is available in various forms, such as compound aquatic feed, dry form aquafeed, and pelletized feeds, which cater to the different stages of aquaculture growth. Key ingredients in aquatic feed include soybean meal, fish meal, fish oil, corn/maize, and marine proteins.
• Feed enzymes, vitamins, minerals, functional additives, probiotics, and enzymes are also added to ensure a balanced diet. The evolution of feed equipment has facilitated the production of high-quality aquafeed, enabling sustainable aquaculture practices. Alternative protein sources, such as insect proteins and plant-based alternatives, are gaining popularity due to human health concerns and environmental sustainability. The aquafeed market is influenced by several factors, including the need for precision nutrition, feed utilization, immunity, and wastewater management. Antibiotics in feed are a concern due to their potential impact on human health and the environment. The market is also influenced by the carbon footprint and methane emissions associated with the production of traditional protein sources, such as fishmeal and fish oil.

What are the market trends shaping the Aquatic Feed Ingredients And Products Industry?

Growing technological advancement is the upcoming market trend.

• The market is driven by the technological advancements in the aquaculture industry. With increasing aquaculture production and consumption, there is a growing demand for nutrient-rich food for various aquatic species, including fishes and crustaceans. Compound aquatic feed, which contains a balanced combination of raw materials such as grains, oils and fats, marine proteins, terrestrial proteins, vitamins, minerals, functional additives, probiotics, enzymes, and algae extracts, plays a crucial role in meeting the nutritional needs of these aquatic organisms. Feed equipment evolution, including the use of precision feeding systems, has been instrumental in improving feed utilization and reducing waste.
• Technological innovations in the aquafeed market include the use of alternative protein sources such as insect proteins and plant-based alternatives. These not only reduce the reliance on traditional protein sources like fishmeal and fish oil but also contribute to sustainable aquaculture. Moreover, there is a growing focus on human health concerns, leading to the reduction of antibiotics in feed and the use of natural additives such as antioxidants and immunity boosters. The market also prioritizes wastewater management and methane emissions reduction to minimize the carbon footprint of aquaculture. Dry form aquafeed and pelletized feeds are popular choices for grower feed, ensuring efficient and cost-effective aquaculture growth.

What challenges does the Aquatic Feed Ingredients And Products Industry face during its growth?

Growing inclination toward vegan food is a key challenge affecting the industry growth.

• The market is driven by the increasing demand for nutrient-rich food derived from aquaculture production. Aquaculture is a significant contributor to global food production, with both fish and crustaceans being major sources of protein. Compound aquatic feed is essential for the optimal growth of aquatic species, and its ingredients include soybean meal, fish meal, fish oil, corn/maize, and various vitamins, minerals, functional additives, probiotics, enzymes, and antioxidants. Feed equipment evolution has led to the production of dry form aquafeed and pelletized feeds, which are more convenient for growers. However, the increasing concern for sustainable aquaculture practices and human health issues, such as the use of antibiotics in feed, is driving innovation in the aquafeed market.
• Alternative protein sources, such as insect proteins, plant-based alternatives, algae extracts, and plant-based proteins, are gaining popularity as sustainable and eco-friendly alternatives to traditional protein sources like fishmeal and marine proteins. Seafood demand continues to grow due to its nutritional benefits, but the focus on precision nutrition and feed utilization is becoming increasingly important. Aquaculture technologies, such as wastewater management and methane emissions reduction, are also essential for sustainable growth in the industry. Despite these advancements, the market faces challenges such as raw material availability, price volatility, and regulatory compliance. Overall, the market is expected to grow as the demand for seafood products continues to increase, and ingredient formulations become more innovative and sustainable.

Exclusive Customer Landscape

The aquatic feed ingredients and products market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the aquatic feed ingredients and products market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, aquatic feed ingredients and products market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.

Adisseo France SAS - The company offers aquatic feed ingredients and products under the brands Rhodimet, Smartamine, and MetaSmart.

The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Aller Aqua AS
• Alltech Inc.
• Archer Daniels Midland Co.
• Beneo GmbH
• Bentoli
• BioMar Group
• Cargill Inc.
• Darling Ingredients Inc.
• ESSECO Srl
• IB Group
• Kemin Industries Inc.
• Koninklijke DSM NV
• Krill Canada Corp.
• Novus International Inc.
• Nutreco N.V.
• Ridley Corp. Ltd.
• Uniscope Inc.
• UNO FEEDS
• VST LLC dba Prairie Aquatech

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

The market has witnessed significant growth in recent years, driven by the increasing demand for seafood products and the need for sustainable and efficient production methods. Aquaculture, which involves the farming of aquatic species, has become a crucial source of protein for both human consumption and the ornamental fish trade. The production of nutrient-rich food for these aquatic organisms is a critical component of this industry, with compound aquatic feed playing a pivotal role. Compound aquatic feed is a formulated diet designed to meet the nutritional needs of various aquatic species, including fish and crustaceans. The evolution of feed equipment and technology has enabled the production of high-quality, nutritious feed that enhances the growth and immunity of aquatic organisms.

Further, aquatic feed ingredients have undergone significant innovation, with a focus on sustainable and alternative protein sources. Traditional ingredients such as fish meal and fish oil have been supplemented with plant-based alternatives like soybean, corn/maize, and grains. Insect proteins and algae extracts have also emerged as promising sources of nutrients for aquatic feed. The use of feed enzymes has been instrumental in improving feed utilization and reducing waste. These enzymes help break down complex nutrients, making them more readily available to the aquatic organisms. Additionally, the inclusion of vitamins, minerals, functional additives, probiotics, and enzymes in feed formulations ensures a balanced diet for the animals.

Moreover, the aquafeed market is expected to continue its growth trajectory, driven by the increasing demand for seafood products and the need for sustainable and efficient production methods. The global aquaculture industry is projected to expand, with aquaculture production outpacing wild-catch fisheries. The nutritional needs of aquatic species vary depending on their species, size, and life stage. Protein sources are a critical component of aquatic feed, with marine and terrestrial proteins being commonly used. The use of alternative protein sources like insect proteins and plant-based alternatives is gaining popularity due to their sustainability and environmental benefits. The aquaculture industry faces several challenges, including human health concerns related to the use of antibiotics in feed and the environmental impact of methane emissions and carbon footprint.

Request Free Sample

What are the Key Data Covered in this Aquatic Feed Ingredients And Products Market Research and Growth Report?

• CAGR of the Aquatic Feed Ingredients And Products industry during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
• Accurate predictions about upcoming growth and trends and changes in consumer behaviour
• Growth of the market across APAC, Europe, North America, South America, and Middle East and Africa
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the aquatic feed ingredients and products market growth of industry companies

We can help! Our analysts can customize this aquatic feed ingredients and products market research report to meet your requirements.

Get in touch