Articles
Aquafeed Market is Expected to Reach Volume 90.4 Million Ton by 2024
by Rahul Rastogi Market Research AnalystThe latest report by IMARC Group, titled “Aquafeed Market
Research: Global Industry
Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, estimates
that the global aquafeed market reached a volume of more than 49.3 Million Tons
in 2018. Aquafeed refers to commercially manufactured feed for aquatic animals.
It is usually made up of various raw materials and additives including plants,
marine animals, terrestrial-based live feeds, grain products, vegetable protein
and fish oil. The feed provides a balanced diet which is essential for rearing
healthy fishes. It is rich in nutrients like protein, vitamins, minerals,
carbohydrates, and lipids and fats which aid in promoting efficient growth and
encourage reproduction among aquatic animals.
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Market Trends:
Improved aquaculture activities along with the
increasing demand for seafood owing to the growing awareness about its
nutritional benefits is one of the key factors driving the market growth.
Consumers are now more inclined toward incorporating seafood such as tuna and
crab in their daily diet. Moreover, the demand for high-quality seafood
products has positively influenced the supply of improved aquafeed across the
globe. Also, the availability of ready-to-eat products caters to the
diversified taste and preferences of the consumers. Furthermore, manufacturers
are constantly utilizing natural resources and sustainable raw materials to
produce aquafeed that is beneficial for both the human and environment health.
For instance, the new algae- and plant-based raw materials are continually
replacing fish oil, whereas soybean meal is substituting fish meal protein in
aquafeed. Owing to the aforementioned factors, the market is expected to reach
a volume of 90.4 Million Tons by 2024, growing at a CAGR of 10.5% during
2019-2024.
Market Summary:
· On
the basis of the species, carps represent the biggest market segment. Other major
types include marine shrimps, tilapias, catfishes, marine fishes, salmon,
freshwater crustaceans, trout and others.
· Based
on the ingredient, the market has been divided into soybean, corn, fish meal,
fish oil additives and others. Amongst these, soybean accounts for the majority
of the overall market share.
· On
the basis of the additive, vitamins and minerals exhibit a clear dominance in
the market. Other major segments include antioxidants, feed enzymes and others.
· Based
on the product form, the market has been categorized into pellets, extruded
products, powdered products and liquid products. At present, pellets account
for the dominant market share.
· On
the geographical front, Asia Pacific holds the leading position in the market.
Other key regions include Europe, Latin America, Middle East and Africa, and
North America.
· The
competitive landscape of the market has also been examined with the detailed
profiles of the key players operating in the market.
Browse Full Report with TOC & List of Figure: https://www.imarcgroup.com/aquafeed-market
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About Rahul Rastogi 
Market Research Analyst
42 connections, 0 recommendations, 213 honor points.Joined APSense since, September 6th, 2018, From New York, United States.
Created on Jun 12th 2019 01:40. Viewed 400 times.
