With reference to the latest market forecast report published by Transparency Market Research, titled 'Aquafeed Market: Global Industry Analysis and Opportunity Assessment 2018-2026', revenue generated from the global aquafeed market is estimated to be valued at around US$ 52,553.8 Mn in 2018, which is projected to increase at a CAGR of 5.7% during the forecast period (2018-2026).
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Factors such as customers shifting towards plant-derived feed ingredients, high demand for aquaculture commercialization, and automated feed dispensers for feed optimization are the key reasons driving the growth of the aquafeed market over the forecast period. Asia Pacific is the major consumer of aquafeed, and is estimated to contribute around 44.2% value share of aquafeed over the forecast period, owing to an improved supply chain system and increased focus towards high digestibility feeds in the region. Increased penetration in the market by key aquafeed producers in developing economies makes the aquafeed market highly competitive, resulting in steady launches and expansion of aquafeed products in the aquafeed space. Players such as Cargill, Inc. and Archer Daniels Midland are well-known for their quality premium aquafeed products. These companies spend enormously on the research and development of aquafeed products, and also promote their brands through knowledge-based advertisement, resulting in larger market shares in the global aquafeed market.
Increased Press Movement for Aquafeed
For the past few years, an increase in press movement has been observed all over different platforms of media, including the Internet, for aquafeed products, especially crustaceans feed, which is expected to drive more demand for aquafeed products over the forecast period. A major shift has been noticed in the Indian aquafeed sector after 2009. The introduction of Whiteleg shrimp into the region has changed the whole fishery sector’s topography. The aquaculture market captured 48% of the total production during 2009. It overtook capture production and reached more than 52% in 2015, which also signifies the increase in demand for aquafeed over the years.
Key Manufacturers of Aquafeed
This TMR report contains the current trends that are driving each market segment, and offers detailed insights and analysis into the potential growth of the global aquafeed market. The last part of the report includes the competitive landscape of numerous market players to provide a comprehensive and comparative dashboard. Major players covered in the report are the dynamic manufacturers who are currently present in the aquafeed market. A detailed view of the manufacturers has also been provided in the scope of the report to examine their short- and long-term strategies, recent developments, and key offerings in the aquafeed market.
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