Aqua Feed Production Upswing to Ride on Increasing Demand for High-quality Aquaculture Products
The quality of feed is important in animal production systems as it is essential to produce a healthy and high-quality product in an economical manner. In fish farming, nutrition is crucial as it accounts for a substantial amount of the production cost. Fish nutrition has advanced considerably in recent years with the development of new and balanced commercial diets that aid optimal fish growth and health. The development of species-specific diet formulations will result in the global aqua feed market to reach a valuation of US$122.6 bn by 2019, says a new market study by Transparency Market Research. Consequently, the aquaculture industry has been benefitted to satisfy the increasing demand for safe and high-quality fish and sea-foods.
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Q. What are the major factors driving the growth of the global aqua feed market?
A. The demand for aquaculture products has been on the rise over the past few years. This is because aquatic foods have high nutritional value and are also quite affordable. To cater to this demand, aquaculture has developed considerably, wherein the breeding of aquatic products is monitored and controlled.
The flourishing aquaculture market contributes significantly to the growth of the global aqua feed market. On the other hand, revenue contribution by the aqua feed market makes up almost 50% of the cost involved in operating an aquaculture facility. Therefore, the growth of the aqua feed market is dependent on the growth of the aquaculture industry to some extent.
Q. What relation does feed type have on the growth of the aquaculture product?
A. Commercial fish diets are manufactured either as floating or sinking feeds. While both sinking and floating diets can produce satisfactory results, some fish prefer floating and others prefer sinking diets. However, extruded feeds are advantageous as it enables the farmer to observe the feeding intensity and can be adjusted as per need. This is because feeding rates are important to be determined if they are too low or too high for maximizing fish growth and feed use efficiency.
Q. Which is the most lucrative end-use segment of the global aqua feed market?
A. Carps are expected to contribute substantial revenue to the aqua feed market as they can breed in less than ideal environmental conditions. In 2012, carps accounted for more than 25% of the overall aqua feed market. Moreover, factors such as changing food habits, rising disposable incomes, and changing lifestyle are leading to the increased demand for carps and crustaceans. Carps and crustaceans are expected to be leading end-use segments of the aqua feed market in the coming years.
Q. How do regional markets fare in the global aqua feed market?
A. Asia Pacific is a significant market for aqua feed due to the high demand for fish and the emergence of a considerable number of aquaculture facilities in the region. The region held 65% of the overall market in 2012 and is expected to retain its dominant position until the end of 2019. Europe is expected to stand as the second-largest market for aqua feed in the coming years.