Global Fishmeal for Aquafeed Market - Industry Trends and Forecast to 2029

Market Analysis and Size

To encourage farmers to use high-quality feed, the government has launched a number of initiatives and schemes. Feed firms have guaranteed that farmers have the resources they need to protect the health and welfare of their animals while also maintaining farm productivity levels. Increased export-oriented aquaculture and adoption of 'Scientific Aquaculture Management Practices' have risen in response to rising fish demand (SAMP). As a result, fish farming is expected to expand, posing a growth potential for the fishmeal for aquafeed market.

Data Bridge Market Research analyses that the fishmeal for aquafeed market is expected to reach at a CAGR of 7.60% during the forecast period. The global fishmeal for aquafeed market value which was USD 106.96 billion in 2021, would stand tall by USD 192.18 billion by 2029. Fish consumption is increasing faster than the world population, thanks to rising affluence and urbanisation. “Fish” dominates the species market segment owing to the increasing fish consumption. The fishmeal for aquafeed market report also covers pricing analysis, patent analysis, and technological advancements in depth.    

Market Definition  

Aquafeeds are compounded meals made from a variety of raw ingredients and additives for aquatic animals. These blends are made to meet the specific needs of the animal's species and age. Aquafeed's nutritional, immune-resistance, and growth-promoting characteristics have made it indispensable in the aquaculture business. Due to its balanced and need-specific composition, high quality aquafeed is exponentially more helpful to fish, mollusks, crustaceans, and other aquatic species than farm-made feed.

Report Scope and Market Segmentation

Fishmeal for Aquafeed Market Dynamics

Drivers:

• Rise in the aquaculture industry.

Aquafeed with healthy nutrients is becoming increasingly popular. Furthermore, rising global fish consumption is predicted to drive global demand.

• Increase in the seafood trade.

Consumer expenditure on fish and fish products has increased as a result of greater seafood consumption.

• Product development as a source of protein that is innovative.

Adding fish meal to animal feed is expected to increase market share due to increased investment by business leaders and partnerships in research and development of new technologies, improved feed palatability, nutrient intake, metabolism, and absorption, and improved feed palatability, nutrient intake, metabolism, and absorption.

Opportunities

In addition, the development in support from governments and increase in the per capita income will further provide potential opportunities for the growth of the fishmeal for aquafeed market in the coming years.

Restrains/Challenges

On the other hand, the increase in the raw material costs is further projected to impede the growth of the fishmeal for aquafeed market in the timeline period. However, the development in the environmental and human health concerns might further challenge the growth of the fishmeal for aquafeed market in the near future.

This fishmeal for aquafeed market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the fishmeal for aquafeed market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Post COVID-19 Impact on Fishmeal for Aquafeed Market

The recent outbreak of coronavirus has critically impacted the fishmeal for aquafeed market. The COVID-19 pandemic has wreaked havoc on almost every industry sector. It has disrupted supply chains, causing the closure of numerous manufacturing sites around the world, as well as major air and marine traffic disruptions and the closure of critical air routes. All industrial activities were halted, international travel was halted, and only critical business services were allowed to operate; these actions had a substantial impact on feed production, as companies experienced supply chain disruptions and workforce shortages.

On the other hand, despite the fact that truck availability and general logistical measures are increasing, there are still some places where such resources are scarce compared to the pre-COVID-19 time. As a result, businesses could expect to swiftly extend their retailer base through various digital platforms that provide advertising and sales services.

Recent Development

• In February 2020, Aller Aqua A/S announced the launch of a new line of practical aquafeeds that include elements that aid the fish development and survival.  

Global Fishmeal for Aquafeed Market Scope

The fishmeal for aquafeed market is segmented on the basis of species, lifecycle, and form. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Species

• Fish
• Crustaceans
• Mollusks

On the basis of species, the fishmeal for aquafeed market has been segmented into fish, crustaceans, mollusks.

Lifecycle

• Starter Feed
• Grower Feed
• Finisher Feed
• Brooder Feed

On the basis of lifecycle, the fishmeal for aquafeed market is segmented into starter feed, grower feed, finisher feed, brooder feed.

Form 

• Dry
• Wet
• Moist

On the basis of form, the fishmeal for aquafeed market is segmented into dry, wet, moist.

Fishmeal for Aquafeed Market Regional Analysis/Insights

The fishmeal for aquafeed market is analysed and market size insights and trends are provided by country, species, lifecycle, and form as referenced above.

The countries covered in the fishmeal for aquafeed market report are
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the fishmeal for aquafeed market due to the rise in the consumption of fish and seafood. Furthermore, the increasing disposable income of middle class will further boost the growth of the fishmeal for aquafeed market in the region during the forecast period.

Asia-Pacific is projected to observe significant amount of growth in the fishmeal for aquafeed market due to the rise in the aquaculture. Moreover, the increasing demand for seafood is further anticipated to propel the growth of the fishmeal for aquafeed market in the region in the coming years.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Fishmeal for Aquafeed Market Share Analysis

The fishmeal for aquafeed market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to fishmeal for aquafeed market.

Some of the major players operating in the fishmeal for aquafeed market are:

• Cargill, Incorporated (US)
• ADM (US)
• Alltech (US)
• Purina Mills (US)
• Nutreco N.V. (Netherlands)
• Ridley Corporation Limited (Australia)
• Adisseo (China)
• Aller Aqua Group (Denmark)
• BIOMIN (EMEA)
• INVE Aquaculture  (Belgium)
• Charoen Pokphand Group Company, Ltd. (Thailand)
• hanpel (South Korea)
• Coppens International B.V. (Netherlands)
• BioMar Group (Denmark)
• LifeCircle Nutrition AG (Switzerland)
• Kent Nutrition Group (US)
• Sonac (US)
• Growel Feeds Pvt Ltd (India)
• Japfa Ltd (Singapore)
• Marvesa Oils & Fats B.V. (Netherlands)
• Marubeni Nisshin Feed Co.,Ltd. (Japan)
• Novus International (US)

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