The shrimp feed market size has the potential to grow by USD 2.06 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by type (grower, finisher, and starter) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Archer Daniels Midland Co., Avanti Feeds Ltd., BioMar, Cargill Inc., Charoen Pokphand Foods Public Co. Ltd., DuPont de Nemours Inc., Evonik Industries AG, Growel Feeds Pvt. Ltd., Novozymes AS, and Nutreco NV.
Market Overview
Market Competitive Analysis
The shrimp feed market is fragmented. Market vendors are focusing on introducing new products to improve their market position. DuPont de Nemours Inc., Evonik Industries AG, Growel Feeds Pvt. Ltd., Novozymes AS, and Nutreco NV are some of the major market participants. Although the increase in shrimp farming practices will offer immense growth opportunities, the high cost of raw materials for manufacturing shrimp feed will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this shrimp feed market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this shrimp feed market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
- Archer Daniels Midland Co.
- Avanti Feeds Ltd.
- BioMar
- Cargill Inc.
- Charoen Pokphand Foods Public Co. Ltd.
- DuPont de Nemours Inc.
- Evonik Industries AG
- Growel Feeds Pvt. Ltd.
- Novozymes AS
- Nutreco NV
Shrimp Feed Market: Segmentation by Region
APAC was the largest shrimp feed market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The increase in shrimp production will significantly influence shrimp feed market growth in this region.
Over 69% of the market’s growth will originate from APAC during the forecast period. China, India, and Vietnam are the key markets for shrimp feed in APAC. Market growth in this region will be faster than the growth of the market in Europe, North America, and South America.
Shrimp Feed Market: Segmentation by Type
Grower feeds have a nutritional value similar to that of starter feeds, but their physical appearance differs in terms of pellet length and pellet size. The grower segment is expected to dominate the market during the forecast period owing to the high demand for grower feeds in the growth stage of shrimp.
Market growth in this segment will be faster than the growth of the market in the finisher and starter segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the shrimp feed market size.
Shrimp Feed Market: Key Drivers and Trends
A key factor driving the growth of the market is the increase in shrimp farming practices. The shrimp farming practices have been growing significantly over the years, owing to the rise in demand for healthy and fresh shrimps for human consumption. The increase in shrimp farming area and decline in the anti-dumping tariff of shrimps have fueled the growth of the shrimp farming market. The major shrimp-producing countries include India, China, Ecuador, Vietnam, Indonesia, Thailand, Argentina, Brazil, and Mexico. The improvements in shrimp farming and the adoption of intensive farming methods with industrialized processes have enhanced shrimp farming practices globally. The rise in shrimp farming practices is likely to increase the need for high-quality shrimp feed.
The rising usage of prebiotic in shrimp feed, one of the key shrimp feed market trends, will also fuel market growth. Prebiotics are non-digestible food ingredients, and they increase the healthy bacterial population in the gut, enhance the production of important vitamins, and aid digestion. As the aquaculture industry is growing rapidly, there is a need for enhanced disease resistance, feed efficiency, and growth performance of cultured species. As shrimps are cultured, there is a high chance of various diseases, owing to toxic compounds in water, adverse climatic conditions, eutrophication, accumulation of organic matter, and dietary deficiency. Acute hepatopancreatic necrosis syndrome (AHNS) caused by Vibrio parahaemolyticus bacteria can kill shrimps. This drives the need for dietary supplementation with feed additives such as prebiotics. The benefits associated with the use of prebiotics are expected to increase its usage in the global shrimp feed market. Such factors will drive market growth at a CAGR of over 6% during the forecast period.
Shrimp Feed Market: Key Highlights of the Report for the Forecast Period 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive shrimp feed market growth during the next five years
- Precise estimation of the shrimp feed market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the shrimp feed industry across APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of shrimp feed market vendors