Increased in disposable income and rise in popularity and consumption of warm water fish, and availability & flexibility in the usage of alternative raw materials are expected to propel the growth of the global warm water aquaculture feed market
PORTLAND, Oregon, July 2, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Warm Water Aquaculture Feed Market by Species (Chinese Fed Carps, Tilapia, Catfish, Milk Fish, Shrimps, and Crustaceans) and Nature (Organic and Conventional): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, global warm water aquaculture feed market was pegged at $47.16 billion in 2019 and is anticipated to reach $60.91 billion by 2026, registering a CAGR of 3.7% from 2019 to 2026.
Rise in disposable income and increase popularity and thus consumption of warm water fish and shrimps have boosted the growth of the global warm water aquaculture feed market. However, increased cost of raw materials and regulatory framework & interference hamper the market. On the contrary, expansion of aquaculture industry, increase in per capita fish consumption, and availability & flexibility in the usage of alternative raw materials are expected to create lucrative opportunities in the near future.
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Chinese fed carps segment dominated the market
The Chinese fed carps segment held the largest share in 2018, accounting for more than one-third of the market, owing to hardiness, adaptability, and high feed conversion ratio of carp. However, tilapia segment is expected to register the fastest CAGR of 4.7% from 2019 to 2026, owing to rising consumption in the U.S. and Africa.
Organic segment to manifest fastest growth by 2026
The organic segment is anticipated to portray the fastest CAGR of 8.2% during the forecast period, owing to rise in adoption of healthy eating practices due to increase in health consciousness of consumers. However, the conventional segment held the largest share in 2018, contributing around 99% of the total market revenue, owing to low prices and high demand from conventional aquaculture.
Asia-Pacific region to garner largest share
The market across Asia-Pacific region is expected to dominate the market, accounting more than 90% of the market, owing to high concentration of aquaculture in China and Indonesia. This region is also expected to register the highest CAGR of 3.8% from 2019 to 2026. The report also includes analysis of the market across other regions such as the U.S., Mexico, Russia, Africa, and Latin America.
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Major market players
The warm water aquaculture feed market report provides an in-depth analysis of the major market players such as Aller Aqua A/S, Beneo, Alltech Inc., Cargill, Incorporated, Nutreco N.V., Charoen Pokphand Foods PCL, Avanti Feeds Ltd., Avanti Feeds Ltd., Biomar Group, and Nutriad.
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SOURCE Allied Market Research