Global Aquaculture Feed Extrusion Market - 2023-2030

Overview

Global Aquaculture Feed Extrusion Market reached US$ 40.12 billion in 2022 and is expected to reach US$ 71.55 billion by 2030, growing with a CAGR of 7.5% during the forecast period 2023-2030.

The global aquaculture feed extrusion market has witnessed significant growth, as this method helps in producing nutritionally balanced and high-quality feeds for various farmed aquatic species including fish and shrimp, This process helps in producing various forms of feed pellets or extruded feeds. Hence, such factors help in driving the global aquaculture feed extrusion market.

Furthermore, many country governments have provided innovative schemes in order to expand the market size. For instance, the government of India has provided a Pradhan Mantri Matsya Sampada Yojana scheme, This scheme helps Enhance fish production and productivity through expansion, intensification, diversification, and productive utilization of land and water, and Increasing fish production to 22 million metric tons by 2024-25 from 13.75 million metric tons in 2018-19. Hence, it such schemes can help in increasing the market growth.

The granular segment accounts for over half of the market share. Similarly, the Asia-Pacific dominates the aquaculture feed extrusion market, capturing the largest market share of over 1/3rd. India is the third-largest fish-producing country, with a production of 2021-22 16.24 million tons, Hence, it remains the largest consumer of the aquaculture feed extrusion market.

Dynamics

Increase in demand for High-quality Fishes

The demand for fish is increasing as consumers are adopting nutritious and protein-rich diets. For instance, according to the OECD-FAO Agricultural Report, On a per capita basis, apparent fish consumption is 21.4 kg in live weight equivalent (LWE) by 2029, up by 4.7% from 20.4 kg in 2017-2019. Hence, such high consumption rates can help increase the market growth.

Furthermore, as the demand for the consumption of fishes are increasing, farmers and manufacturers are adopting new technologies that increase the demand for feed extrusions in aquaculture as they provide a balanced amount of nutritional feed in pellets and granules forms which helps in enhancing the digestive rate and increase the nutrition intake for fishes. It helps in increasing the productivity rates. Hence, such factors help in increasing the adoption rate.

Advancements in Aquaculture Technology

Farmers are highly adopting advanced technologies which increases the demand for the aquaculture feed extrusion market. These technologies help in providing specialized feeds for aquaculture which provides a balanced amount of nutrients, which helps in improving the efficiency, sustainability, and overall productivity of aquaculture species. Hence, such factors help in increasing the market growth.

Furthermore, many manufacturing companies are producing innovative quality products in order to attract larger consumer bases. For instance, Purina Animal Nutrition LLC company produces AquaMax, it is a multi-variable particle product with nine different-sized extruded nuggets designed with both Sinking and Floating action. Hence, such products help in increasing the market growth.

High Investment Costs of Equipment

The high investment cost of equipment significantly affects the growth of the aquaculture feed extrusion market. Setting up this equipment requires special infrastructure, facilities, and others, which could limit the market for smaller consumer bases. Many small-scale manufacturers may opt for other alternatives which could hamper the market growth.

Segment Analysis

The global aquaculture feed extrusion market is segmented based on species, ingredients, feed, distribution channel, type, and region.

Increase in Demand For Effective Feed

The granules segment holds the maximum share in the global aquaculture feed extrusion market. Aquaculture industries are these granules as they provide convenience and long shelf life, and also maintain their structural integrity in water for extended periods. Also, they provide consistent size, shape, and balanced nutrition which helps in increasing productivity. Hence, such factors help in increasing the market growth.

Furthermore, many manufacturing companies are focusing on producing innovative high-quality products in order to attract larger consumer bases. For instance, BioMar company produces Trout Starter feeds, which are high protein extruded granulated feeds, They Formulated to meet the nutritional requirements of larvae and fry resulting in high quality, strong fry. Hence, such products help in increasing the market growth.

Geographical Penetration

High Production and Consumption Rates

The Asia-Pacific region is a dominant force in the global aquaculture feed extrusion market. Aquaculture farming industries are highly adopting these technologies as they provide balanced nutrition feeds in various forms such as pellets and granules, which helps in high feed conversion and utilization rates and helps in increasing the production and quality of fish and other aquatic species. Hence, such factors can help in increasing the market in this region.

Furthermore, the consumers in this region are highly adopting protein-rich diets which increases the consumption rates. For instance, according to the Department of Agriculture, Fisheries and Forestry report of 2021, the total apparent consumption of seafood in Australia was 356 kilotons in 2020-21. Hence, such high consumption rates can help in increasing the usage of aquaculture feed extrusions.

Additionally, the production rates of fish are high in this region, for instance, according to the Ministry of Fisheries, Animal Husbandry & Dairying report of 2023, India is the third largest fish-producing country, contributing 8 percent to the global fish production and ranks second in aquaculture production. The fish production in 2021-22 is 16.24 million tons, Hence, it can help increase in the adoption of aquaculture feed extrusion technologies in this region.

Competitive Landscape

The major global players in the market include: Fish Feed Extruder, Heritage Nutrient Limited, Cargill, ADM, Biomar, Skretting, Purina Animal Nutrition llc., Marubeni Nisshin Feed co.,ltd., DSM, and Aller Aqua Group.

COVID-19 Impact Analysis

The pandemic has brought a disruption in the supply chain, many manufacturing companies are shut down due to government lockdown restrictions which have led to a decrease in the availability of raw materials in the market which led to a decrease in adoption rate, hence, it led to decrease in the market growth.

By Species

• Crap
• Marine Shrimps
• Tilapias
• Catfishes
• Marine Fishes
• Salmons
• Freshwater (FW) Crustaceans
• Trout's
• Others

By Ingredients

• Protein
• Vitamins & Minerals
• Fats
• Others

By Feed

• Pellets
• Flakes
• Granules
• Sticks
• Others

By Distribution Channel

• Pet shops
• Households
• Veterinary Hospitals
• Others

By Type

• Complete Diets
• Treats & Other Complementary Products

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In October 2021, BioMar introduces a new pellet size in the INICIO Plus product family. The new INICIO Plus pellets have a diameter size of 0.35 mm. They are optimized for covering the nutritional requirements of the smallest size fry and for giving an improved feeding experience at the very first stages of life for a fry.
• In August, 2021, Nutreco entered into a joint venture with Kenya-based Unga Group Plc to meet the growing demand for high-quality protein within the East African region. This partnership involves open-ended, Nutreco-managed joint ventures with two indirect subsidiaries of Unga Group: Unga Farm Care (EA) Limited in Kenya and Unga Millers (U) Limited in Uganda).

Why Purchase the Report?

• To visualize the global aquaculture feed extrusion market segmentation based on species, ingredients, feed, distribution channel, type, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of aquaculture feed extrusion market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global aquaculture feed extrusion market report would provide approximately 77 tables, 86 figures and 195 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies