Asia Pacific is Expected to Lead the Aquafeed Market
Asia Pacific will lead the Aquafeed Market in the coming years. The growth of the aquaculture industry in China and India due to factors such as availability of raw materials, favorable climatic conditions for aquaculture and cheap labor will accelerate the market growth in Asia Pacific. Europe is expected to have a steady growth of aquafeed in the coming years due to the rising popularity of protein rich food among consumers in the region. North America will also experience higher growth due to the presence of established vendors in the future.
Selected Regulatory Analysis Done in the Full Report
Carps are the largest application segment in the aquafeed market. They are rich in omega-3 fatty acids and provide protein which is low in fat. The increasing consumer awareness about omega 3 health benefits will augment the demand for carps which, in turn, drives the growth of aquafeed. Mollusks and Crustaceans are the other segments in the market. Crustaceans such as shrimps, lobsters, crabs and mollusks such as oysters are being used as exotic food products. This factor also enhances the demand for the aquaculture feed during the forecast period.
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Selected Driving Factors Mentioned in the Full Report
Growing demand for quality fish will drive the growth of the feed additives during the forecast period.
Growing consumption of sea food in European countries, such as, Norway and Germany will elevate the demand for shrimp feed.
Increasing government initiatives to support aquaculture and growing disposable income will spur the growth of animal nutrition during the forecast period.
Increasing focus on nutraceuticals, such as Omega 3 enriched products will create opportunities for aquafeed applications.
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Key players of the Aquafeed Market
The companies which dominate the Aquafeed Market include Aller Aqua, Beneo Norel Animal Nutrition, BioMar A/S, Avanti Feeds Ltd. and Cermaq ASA. Aller Aqua produces fish feed for saltwater and freshwater aquaculture. It has branches in Denmark, Poland, Germany, Egypt, China and Zambia. Norel Animal Nutrition produces food ingredients for animal nutrition. BioMar A/S produces feed for shrimps and fishes. It provides feed for cold water species such as Salmon, trout, and cod. Avanti Feeds Ltd develops prawn culture.
Browse Related Reports:
- Animal Feed Additive Market: By Species (aquaculture, poultry, ruminants, swine, pets, equine); By Type (zoo technical additives, nutritional feed additives, sensory feed additives, Coccidiostats and Histomonostats, sugar based products, direct fed microbial); By end users (farms, households, veterinarians, zoo, animal shelters); By Geography - Forecast (2018-2023)
- Animal Nutrition Market: By Species (Aquaculture, Poultry, Ruminants, Swine, Pet, Equine); By Nutrient (Carotenoids, Eubiotics, Vitamins, Enzymes, Minerals, Lipids, Cereals, Carbohydrates); By Administrative method (Oral, Topical, Injection); By End-user (Farms, Households, Veterinarians, Zoos, Animal sherlters); By Geography - Forecast (2018-2023)
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