Aquafeed Market Size Worth $102.2 Million by 2030: Grand View Research, Inc.

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14 Jun, 2022, 12:00 GMT

SAN FRANCISCO, June 14, 2022 /PRNewswire/ -- The global aquafeed market is expected to reach USD 102.2 million by 2030, registering a CAGR of 4.4% from 2022 to 2030, as per the new report by Grand View Research, Inc. The growth is majorly driven by the rising consumption of aquafeed by species like carp, catfish, salmon, and shrimps among others due to its rich protein content.

Key Insights & Findings from the report:

Dry aquafeed form witnessed the fastest growth rate of CAGR 4.7%, owing to its properties such as easy production, quick transport, long storage life, and quick dispense into the fish culture environment.
The feed acidifiers witnessed the fastest growth rate of 6.7% because of their ability to prevent the species from diseases which are caused by E. coli and Salmonella. These additives are prepared from organic acids along with their salts and help in maintaining gastric acid levels in these aquatic species.
The grower feed type witnessed a high growth rate of 4.7%, because of its rising demand as it supports the continuous growth of the animals without burdening them with extra vitamins and minerals intake.
Sea Bass application witnessed a high growth rate due to its increasing consumption in the food industry because of its low calorie and high protein content. It is a carnivorous fish and is rich in omega-3 fatty acids, proteins, and selenium. It also contains potassium, mercury, magnesium, vitamin B12, and vitamin B6.
The Asia Pacific region witnessed the highest growth rate of CAGR 4.9%, owing to its favorable climatic conditions in the countries like China, and India which helps to enhance the overall aquaculture industry production and eventually develop the market.

Read 107-page market research report, "Aquafeed Market Size, Share & Trends Analysis Report By Form (Dry, Wet), By Additive (Amino Acid, Antibiotic), By Feed (Finisher, Grower), By Application, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Aquafeed Market Growth & Trends

The future of the global market is dependent on the increasing acceptance of aquafeed which contains essential oils, feed acidifiers, natural extracts, and palatants which are important for aquaculture species in their overall growth across each stage of development. The widespread fish mortality due to various infections which are caused by parasites is driving the demand for the consumption of anti-parasites.

These feed products are consumed by various warm-water and cold-water fish species such as catfish, salmon, trout, tilapia, shrimps, largemouth bass, and eel among others. These feeds for aquatic species are a source of omega-3 fatty acids and proteins. It improves the nutritional value of feed and offers several other benefits like improved growth rate, reduced mortality of various aquatic species, digestibility of proteins, and enhanced immune system.

The COVID-19 pandemic had crippled the economies of the world and severely impacted the supply chain across key industries. The distribution of raw materials for aquafeed was affected by the pandemic due to which its production was hampered. In addition, strict lockdowns were imposed to curb the virus from spreading, and due to this many manufacturing and production units were closed. Furthermore, there were rumours of transmission of the virus through poultry, which ill-affected the market.

Aquafeed Market Segmentation

Grand View Research has segmented the global aquafeed market report based on form, additives, feed, application, and regions:

Form Outlook (Revenue, USD Thousand, Volume, Tons, 2018 - 2030)

Dry
Moist
Wet

Additives Outlook (Revenue, USD Thousand, Volume, Tons, 2018 - 2030)

Amino Acids
Antibiotics
Vitamins & Minerals
Feed Acidifiers
Antioxidants
Enzymes
Anti-parasitic
Probiotics & Prebiotics
Others

Feed Outlook (Revenue, USD Thousand, Volume, Tons, 2018 - 2030)

Starter Feed
Grower Feed
Finisher Feed
Brooder Feed

Application Outlook (Revenue, USD Thousand, Volume, Tons, 2018 - 2030)

Carp
Rainbow Trout
Salmon
Crustaceans
Tilapia
Catfish
Sea Bass
Grouper
Others

Regional Outlook (Revenue, USD Thousand, Volume, Tons, 2018 - 2030)

North America

U.S.
Canada
Mexico

Europe

Germany
UK
France
Italy
Spain
Denmark

Asia Pacific

China
India
Japan
Vietnam
Thailand
Indonesia
Australia

Central & South America

Brazil
Argentina
Chile
Ecuador

Middle East & Africa

South Africa
Egypt

Check out more related studies published by Grand View Research:

Aquafeed Additives Market - The global aquafeed additives market size is expected to reach USD 2.76 billion by 2028, according to a new study by Grand View Research, Inc. The market is estimated to reach a CAGR of 3.2% during the forecast years. Increasing consumption of the product for carp, salmon, tilapia, and catfish, due to their rising demand driven by their rich protein content, is anticipated to boost the industry's growth.
Animal Feed Additives Market - The global animal feed additives market size is expected to reach USD 53.7 billion by 2030, as per a new report by Grand View Research, Inc. Furthermore, the industry is projected to advance at a CAGR of 3.5% from 2022 to 2030. The growth is majorly driven by the increased consumption of meat and the rise in the livestock population worldwide.
Pet Food Market - The global pet food market size is expected to reach USD 139.29 billion by 2030, registering a CAGR of 4.4%, as per a new report by Grand View Research Inc. Packaged pet food provides standard nutritional value required in pet's daily life. This is projected to drive market growth over the forecast period.

Browse through Grand View Research's Animal Feed and Feed Additives Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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