Aquafeed Market: Asia Pacific is projected to witness the highest growth through 2021 – IndustryARC
Aqua feed is the food item developed in the feed industry for the aquatic animals to maintain a sustainable aquaculture. The Aquafeed Market has high scope due to the increase of aquaculture practices in various regions for fish supply and to feed the tamed aquatic animals and pets during 2016-2021.
Scope and Regional Forecast of the Aquafeed Market:
According to the IndustryARC research analysis studies on the Aquafeed Market, Aquafeed is a demand-driven industry. This industry is driven by the increase in the fish meat consumption which is due to the increase in world population. Carps are being extensively reared over the past few years owing to their adaptability to changing climates. In addition, carps are viable source of protein containing high omega-3 and low fat. Carps are anticipated to be the fastest growing application segment for aqua feed owing to their growing demand in direct human consumption.
The availability of fish meal and other protein sources has increased the global demand for Aquafeed Market in Asia. There is a clear trend towards the development and implementation of safety and quality standards. Asia Pacific is expected to witness the highest growth in this market closely followed by Europe.
The North American Aquafeed Market is driven by various factors such as growth in aquaculture industry, increased consumption of fish and seafood, flexibility in use of secondary raw materials, and increasing income of expanding middle class in developing nations.
Segmentation and Key Players of the Aquafeed Market:
The Aquafeed Market is segmented into various categories in the IndustryARC marketing research report by ingredient, by type, by additive products, by aquatic animal type and by geography.
- By ingredient: corn, soybean, fish meal, fish oil, additives and others
- By type: natural feeds (plants, animals, trash food and others), artificial feeds (medicines, vaccines and others)
- By additive products: amino acids, vitamins, antibiotics, feed acidifiers, antioxidants, feed enzymes and others
- By aquatic animal type: salmon, molluscs, tilapia, catfish, carp, crustaceans and others
- By geography: North America, South America, Europe, Asia Pacific and ROW’
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The key players in the Aquafeed Market according to the IndustryARC research report are as follows:
- Aller Aqua, Beneo
- Norel Animal Nutrition
- BioMar A/S
- Cargill Incorporated
- Avanti Feeds Ltd.
The Aquafeed Market is a rapidly growing market with the rise of aquaculture and fish farms in many regions across the globe. This market is expected to witness high demand owing to the growth of population and the increasing demand for the fish production for food and other purposes during 2016-2021.
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