Aquafeed is fastest growing segment fueling the growth of the Global Aquafeed Market

 

Aquafeed is food or feed given to farmed fish and other aquaculture organisms. It aims to maximize growth and sustainability of aquaculture animals. Growing aquaculture industry and population demand has increased the requirement for aquafeed products that provide balanced nutrition and promotes good health in aquatic animals.

The global aquafeed Market is estimated to be valued at US$ 61.8 Bn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Aquafeed market is witnessing an increase adoption of compound feed, replacing traditional wet-feeding. Compound aquafeed provides balanced nutrition through systematic blending of ingredients. It has increased digestibility and absorption, leads to better growth performance. Manufacturers are investing in research to develop tailor made aquafeeds using locally available or cost-effective ingredients like alternative protein sources, vitamins and minerals. Such innovations help cater the nutrition needs for different species, life stages and farming conditions which optimize production and profitability of aquafarmers.

Segment Analysis

The Global Aquafeed Market Size is segmented by livestock into fish, crustaceans, and molluscs. The fish segment currently dominates the global market owing to high demand for carp, salmon, tilapia and other farmed fish varieties around the world. Fish farming accounts for over 50% of global aquaculture production, making fish feed the largest and most important segment.

Key Takeaways

The global aquafeed market is expected to witness high growth, exhibiting a CAGR of 7.3% over the forecast period, due to increasing consumption of seafood worldwide. The market size for aquafeed is expected to reach US$ 61.8 Bn in 2023.

Regional analysis

Asia Pacific currently dominates the global aquafeed market and is expected to maintain its leading position over the next decade. Countries like China, India, Vietnam and Thailand account for over 70% of global aquaculture production and are the fastest growing markets for aquafeed. Rapid expansion of fish and shrimp farming in emerging Asian nations is driving the demand for aquafeeds in the region.

Key players
Key players operating in the aquafeed market are ADM (US), Cargill, Incorporated (US), Ridley Corporation Limited (Australia), Nutreco (Netherlands), Alltech (US), Purina Animal Nutrition (US), Adisseo (Belgium), Aller Aqua A/S (Denmark), Biomin (Austria), Biomar (Denmark), Norel Animal Nutrition (Spain), Avanti Feeds Limited (India), De Heus Animal Nutrition B.V. (Netherlands), Novus International (US), and Biostadt India Limited (India). These companies are focusing on new product launches and expansion strategies to strengthen their market position.

For More Insights, Read- https://www.newsstatix.com/aquafeed-market-size-share-analysis-2023-2030/


Comments

Post a Comment

Popular posts from this blog

Growth Accelerated by Rising Demand from Biomedical Research and Clinical Diagnostics

Image
  Chemiluminescence imaging is widely used technique for the detection of biomolecules. The technique offers advantages such as high sensitivity, minimal sample requirement and less incubation time. Chemiluminescence assays find wide application in various research areas such as oncology research, infectious disease research and reproductive health among others. Moreover, clinical diagnostics of conditions like cancer, liver disorders also rely on chemiluminescence technique for detection of biomarkers. Growing incidence of chronic diseases is propelling the demand for clinical diagnostic testing, thus favoring the growth of chemiluminescence imaging market. The global Chemiluminescence Imaging Market is estimated to be valued at US$ 13.2 Bn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: Rising demand from biomedical research and clinical diagnos...
Read more

The Global Boat Accumulator Market Growth Is Accelerated By Increasing Consumer Spending

Image
  Boat accumulators or batteries are sealed lead acid batteries that provide starting power and deep cycle power for boats. They are essential for powering marine electrical systems, motors, navigation lights, bilge pumps and other onboard appliances. The growing marine tourism and recreational boating activities have increased the demand for boats and yachts over the years. This has propelled the boat accumulator market. The global Boat Accumulator Market is estimated to be valued at US$ 266.66 Mn in 2023 and is expected to exhibit a CAGR of 2.8% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: Increasing consumer spending on recreational boating activities has been a major driver for the boat accumulator market over the past decade. The number of recreational boats sold globally has increased steadily with the rise in disposable incomes and leisure time among consumers. Countries like the United S...
Read more

Pediatric Vitrectomy Market: Current Trends and Future Prospects

Image
The Pediatric Vitrectomy Market has witnessed substantial growth in recent years, owing to advancements in medical technology and an increasing prevalence of eye disorders in children. Vitrectomy is a surgical procedure involving the removal of the vitreous humor, the clear gel-like substance that fills the eye's posterior chamber, to treat various retinal conditions. In the pediatric population, vitrectomy is often performed to address retinal detachments, diabetic retinopathy, and other vitreoretinal disorders. This article explores the current state of the Pediatric Vitrectomy Market, highlighting the key drivers, challenges, and growth opportunities in this vital healthcare sector. Market Drivers One of the primary drivers of the Pediatric Vitrectomy Market is the rising incidence of pediatric retinal diseases. Factors such as premature birth, genetic predisposition, and environmental influences contribute to an increase in retinal disorders among children. Additionally, te...
Read more