Market Overview —
Aqua feed, as the name suggests, is used for feeding aquatic animals for increasing their productivity and completing their diets. The increasing demands for high-quality seafood are propelling the market. The global aqua feed market is projected to touch a 12% annual growth marker during the survey period. The vast aquaculture industry has raised the demands of high-quality aqua feeds to meet the rising demands of better food quality. The global aqua feed industry is also receiving good feedback due to increasing practices of fish farming in various parts of the world. Aqua feeds quality and composition is decided based on the requirements and life cycle of the species.
Aqua feeds are made from vegetarian as well as non-vegetarian protein sources, which are also helpful in protecting the animals from various fungal and bacterial diseases, directing the users to adopt them. Demands for high quality and less disease-prone seafood is also propelling the market towards a secure future. Fish products are highly beneficial for human health, so the increasing demands of healthy food alternatives are also increasing the demands of aqua feed and becoming strong support of the market.
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Global Aqua Feed Market is struggling against the rigid regulations in some areas and the varying costs of necessary raw materials for their manufacturing is holding back the growth of this market. To overcome the regulations, the companies have to invest and put extra efforts towards developing new feeds, which increases the expenditure. As a result, the market is showing lower growth rates than expected.
The key players profiled in Aquafeed Market are Cargill Inc. (U.S.), BioMar Group (Denmark), Waterbase Ltd (India), BASF (Germany), Alltech Inc. (U.S.), Coppen International BV (Netherlands), Ridley Corporation (Australia), Zeigler bros. Inc. (U.S.), Evonik Industries (Germany), and Marvesa (Netherland) among others.
Recent Industry News
Global Aqua Feed Market is growing at impressive speeds, but stringent regulation against the feeding and fluctuating raw material costs are the major factors slowing the market’s pace. The Asia Pacific region is the market leader and will stay at the top due to the fastest-growing rate during the survey period.
Global Aqua Feed Market is segmented into three types:
Ingredients: Aqua feed is made from vegetarian as well as non-vegetarian sources like wheat, soy corn, fish oils and others
Additives: Aqua feeds are used as vitamins, antibiotics, amino acids, antioxidants and in other forms.
Species: Molluscs, catfish, salmons, tilapia and other targeted species are the primary species.
Regional Market Summary
America, Europe, Asia Pacific and The Middle East & Africa are the four major regions observed under the global aqua feed market.
The Asia Pacific region is the current leader of this market and will stay at the top during the survey period. Also, this region will show the fastest growth. Vast population cover, increasing health consciousness, demands for better food products and rapidly rising disposable incomes are some of the factors driving the market here.
The American and European regions are next in the queue due to increasing demands for seafood and investments made towards the development of aqua feed products.
Rest of the regions are showing slow growth rates and will continue to show the same behaviour during the survey period.
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