Aquafeed Market Size, Share, Forecast, & Trends Analysis by Ingredient (Plant-based, Animal-based, Additives, Algae, Insect), Species Type (Fish, Crustacean, Mollusks), Form (Dry), Lifecycle (Starter Feed)- Global Forecast to 2031

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Aquafeed Market Size, Share, Forecast, & Trends Analysis by Ingredient (Plant-based {Soy, Corn}, Animal-based {Fish Oil}, Additives, Algae, Insect), Species Type (Fish {Salmon}, Crustacean, Mollusks), Form (Dry), Lifecycle (Starter Feed)-Forecast to 2031

According to the research report titled, 'Aquafeed Market Size, Share, Forecast, & Trends Analysis by Ingredient (Plant-based {Soy, Corn}, Animal-based {Fish Oil}, Additives, Algae, Insect), Species Type (Fish {Salmon}, Crustacean, Mollusks), Form (Dry), Lifecycle (Starter Feed)-Forecast to 2031,' the aquafeed market is projected to reach $122.54 billion by 2031, at a CAGR of 6.4% during the forecast period 2024-2031. The report provides an in-depth analysis of the global aquafeed market across five major regions, emphasizing the current market trends, market sizes, recent developments, and forecasts till 2031.

Succeeding extensive secondary and primary research and an in-depth analysis of the market scenario, the report conducts the impact analysis of the key industry drivers, restraints, opportunities, and trends. The growth of the aquafeed market is driven by the increasing consumption of fish, growth in the aquaculture industry, and rising demand for high-quality feed. Moreover, the increasing support from governments for aquaculture and the development of alternative feed ingredients are expected to offer growth opportunities for the players operating in this market. Additionally, growing demand for organic fish production and increasing adoption of functional feeds are major trends in the aquafeed market.

Fluctuating raw material prices and stringent regulations on feed safety and quality are expected to hinder market growth to some extent. Furthermore, environmental and human health concerns pose a challenge to market expansion.

The key players operating in the global aquafeed market are Cargill, Incorporated (U.S.), Ridley Corporation Limited (Australia), Charoen Pokphand Foods PCL (Thailand), Nutreco N.V. (Netherlands), BENEO GmbH (Germany), Archer-Daniels-Midland Company (U.S.), Alltech Inc. (U.S.), BioMar Group (Denmark), Purina Animal Nutrition LLC (U.S.), Aller Aqua A/S (Denmark), Biostadt India Limited (India), Kemin Industries, Inc. (U.S.), INVE Aquaculture, Inc. (U.S.), and De Heus Voeders B.V. (Netherlands).

Based on ingredient, the aquafeed market is segmented into plant-based, animal-based, additives, algae, and insect. In 2024, the plant-based segment is expected to account for the largest share of the aquafeed market. The large market share of this segment can be attributed to the increasing demand for soybean feed ingredients, being an alternative to animal-based ingredients, and environmental concerns. Moreover, the growing demand for alternative feed ingredients, such as canola, is expected to support the growth of this market. The plant-based segment is further segmented into soybean, corn, and other types. The soybean segment is expected to account for the largest share of the plant-based aquafeed market in 2024. Soybean-based ingredients are rich in proteins, amino acids, and other essential nutrients. They are a cost-effective alternative to fishmeal in aquafeeds.

Based on the form, the aquafeed market is segmented into dry, moist, and wet. In 2024, the dry segment is expected to account for the largest share of over 63.3% of the aquafeed market. The large market share of this segment is mainly attributed to its convenience for handling, storage & transport, longer shelf life, cost-effectiveness, nutrient stability, higher nutritional density, and bulk purchase.

Based on species type, the aquafeed market is segmented into fish, crustaceans, mollusks, and other aqua-cultured species types. In 2024, the fish segment is expected to account for the largest share of over 56.7% of the aquafeed market. The large market share of this segment can be attributed to the growing demand for organic fish, increasing demand for fish protein, depletion of wild fish supplies, increase in export value of fish, and growth of aquaculture.

Based on lifecycle, the aquafeed market is segmented into starter feed, grower feed, finisher feed, and brooder feed. In 2024, the grower feed segment is expected to account for the largest share of the aquafeed market. Grower feed is formulated to meet the increased nutritional demands of the grower stage, with a focus on proteins, amino acids, and other essential nutrients to promote rapid growth. Furthermore, it supports maximum production and growth at every life stage of the fish.

An in-depth geographic analysis of the industry provides detailed qualitative and quantitative insights into the five major regions (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) and the coverage of major countries in each region. Asia-Pacific is expected to account for the largest share of the aquafeed market, followed by Europe, North America, Latin America, and the Middle East & Africa. The large share of this regional market share is mainly attributed to the rise in fish consumption, government support for aquaculture, increasing population, and growing urbanization. Also, the resource availability, low-cost labor, and suitable environmental conditions are supporting the growth of this market. Moreover, this region is projected to register the highest CAGR during the forecast period.

Key Questions Answered in the Report:

What is the current revenue generated by the aquafeed market globally?
At what rate is the global aquafeed demand projected to grow for the next 5-7 years?
What are the historical market sizes and growth rates of the global aquafeed market?
What are the major factors impacting the growth of this market at the regional and country levels? What are the major opportunities for existing players and new entrants in the market?
Which segments, in terms of ingredient, form, species type, and lifecycle, are expected to create traction for the manufacturers in this market during the forecast period 2024-2031?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the global aquafeed market?
Who are the major players in the global aquafeed market? What are their specific product offerings in this market?
What are the recent strategic developments in the global aquafeed market? What are the impacts of these strategic developments on the market?

Scope of the Report:

Aquafeed Market Assessment-by Ingredient

Plant-based
- Soybean
Soybean Meal
Soy Oil
Soy Lecithin
- Corn
Corn Gluten Meal
Corn Gluten Feed
Corn Oil
- Other Plant-based
Animal-based
- Fish Meal
- Fish Oil
- Other Animal-based
Additives
- Vitamins & Minerals
- Amino Acids
- Antioxidants
- Prebiotics
- Enzymes
- Acidifiers
- Other Additives
Algae
Insect

Aquafeed Market Assessment-by Form

Dry
Moist
Wet

Aquafeed Market Assessment-by Species Type

Fish
- Salmon
- Carp
- Tilapia
- Trout
- Catfish
- Other Fish Species
Crustaceans
- Shrimp
- Crabs
- Krills
- Lobsters
- Other Crustaceans
Mollusks
- Oysters
- Mussels
- Other Mollusks
Other Aqua-cultured Species Types

Aquafeed Market Assessment-by Lifecycle

Starter Feed
Grower Feed
Finisher Feed
Brooder Feed

Aquafeed Market Assessment-by Geography

North America
- U.S.
- Canada
Europe
- Germany
- France
- Spain
- U.K.
- Italy
- Netherlands
- Russia
- Poland
- Norway
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- Thailand
- Vietnam
- Australia
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
Middle East & Africa
- South Africa
- Egypt
- Rest of Middle East & Africa

Product Code: MRFB - 1041256

1. Introduction

1.1. Market Definition & Scope
1.2. Market Ecosystem
1.3. Currency
1.4. Key Stakeholders

2. Research Methodology

2.1. Research Approach
2.2. Process of Data Collection and Validation
- 2.2.1. Secondary Research
- 2.2.2. Primary Research/Interviews with Key Opinion Leaders of the Industry
2.3. Market Sizing and Forecast
- 2.3.1. Market Size Estimation Approach
- 2.3.2. Growth Forecast Approach
2.4. Assumptions for the Study

3. Executive Summary

3.1. Overview
3.2. Segmental Analysis
- 3.2.1. Aquafeed Market Analysis: by Ingredient
- 3.2.2. Aquafeed Market Analysis: by Form
- 3.2.3. Aquafeed Market Analysis: by Species Type
- 3.2.4. Aquafeed Market Analysis: by Lifecycle
3.3. Regional Analysis
3.4. Market Competitors & Competitive Landscape

4. Market Insights

4.1. Overview
4.2. Drivers
- 4.2.1. Increasing Consumption of Fish
- 4.2.2. Growth in Aquaculture Industry
- 4.2.3. Rising Demand for High-Quality Feed
4.3. Restraints
- 4.3.1. Fluctuating Raw Material Prices
- 4.3.2 Stringent Regulations on Feed Safety and Quality
4.4. Opportunities
- 4.4.1. Development of Alternative Feed Ingredients
- 4.4.2. Increasing Support from Government for Aquaculture
4.5. Key Trends
- 4.5.1. Growing Demand for Organic Fish Production
- 4.5.2. Increasing Adoption of Functional Feeds
4.6. Challenges
- 4.6.1. Environmental and Human Health Concerns
4.7. Porter's Five Forces Analysis
- 4.7.1. Bargaining Power of Suppliers
- 4.7.2. Bargaining Power of Buyers
- 4.7.3. Threat of Substitutes
- 4.7.4. Threat of New Entrants
- 4.7.5. Degree of Competition
4.8. Pricing Analysis

5. Aquafeed Market Assessment-by Ingredient

5.1. Overview
5.2. Plant-based
- 5.2.1. Soybean
  - 5.2.1.1. Soybean Meal
  - 5.2.1.2. Soy Oil
  - 5.2.1.3. Soy Lecithin
- 5.2.2. Corn
  - 5.2.2.1. Corn Gluten Meal
  - 5.2.2.2. Corn Gluten Feed
  - 5.2.2.3. Corn Oil
- 5.2.3. Other Plant-based
5.3. Animal-based
- 5.3.1. Fish Meal
- 5.3.2. Fish Oil
- 5.3.3. Other Animal-based
5.4. Additives
- 5.4.1. Vitamins & Minerals
- 5.4.2. Amino Acids
- 5.4.3. Antioxidants
- 5.4.4. Prebiotics
- 5.4.5. Enzymes
- 5.4.6. Acidifiers
- 5.4.7. Other Additives
5.5. Algae
5.6. Insect

6. Aquafeed Market Assessment-by Form

6.1. Overview
6.2. Dry
6.3. Moist
6.4. Wet

7. Aquafeed Market Assessment-by Species Type

7.1. Overview
7.2. Fish
- 7.2.1. Salmon
- 7.2.2. Carp
- 7.2.3. Tilapia
- 7.2.4. Trout
- 7.2.5. Catfish
- 7.2.6. Other Fish Species
7.3. Crustaceans
- 7.3.1. Shrimp
- 7.3.2. Crabs
- 7.3.3. Krills
- 7.3.4. Lobsters
- 7.3.5. Other Crustaceans
7.4. Mollusks
- 7.4.1. Oysters
74.2. Mussels
- 7.4.3. Other Mollusks
7.5. Other Aqua-cultured Species Types

8. Aquafeed Market Assessment-by Lifecycle

8.1. Overview
8.2. Starter Feed
8.3. Grower Feed
8.4. Finisher Feed
8.5. Brooder Feed

9. Aquafeed Market Assessment-by Geography

9.1. Overview
9.2. North America
- 9.2.1 U.S.
- 9.2.2. Canada
9.3. Europe
- 9.3.1. Germany
- 9.3.2. France
- 9.3.3. Spain
- 9.3.4. Italy
- 9.3.5. U.K.
- 9.3.6. Netherlands
- 9.3.7. Russia
- 9.3.8. Poland
- 9.3.9. Norway
- 9.3.10. Rest of Europe
9.4. Asia-Pacific
- 9.4.1. China
- 9.4.2. India
- 9.4.3. Japan
- 9.4.4. Thailand
- 9.4.5. Vietnam
- 9.4.6. Australia
- 9.4.7. Rest of Asia-Pacific
9.5. Latin America
- 9.5.1. Brazil
- 9.5.2. Mexico
- 9.5.3. Argentina
- 9.5.4. Rest of Latin America
9.6. Middle East & Africa
- 9.6.1. South Africa
- 9.6.2. Egypt
- 9.6.3. Rest of Middle East & Africa

10. Competition Analysis

10.1. Overview
10.2. Key Growth Strategies
10.3. Competitive Benchmarking
10.4. Competitive Dashboard
- 10.4.1. Industry Leaders
- 10.4.2. Market Differentiators
- 10.4.3. Vanguards
- 10.4.4. Emerging Companies

11. Company Profiles (Company Overview, Financial Overview, Product Portfolio, and Strategic Developments)

11.1. Cargill, Incorporated
11.2. Nutreco N.V.
11.3. Charoen Pokphand Foods PCL
11.4. Aller Aqua A/S
11.5. Ridley Corporation Limited
11.6. BioMar Group
11.7. Alltech Inc.
11.8. Archer-Daniels-Midland Company
11.9. Purina Animal Nutrition LLC
11.10. BENEO GmbH
11.11. De Heus Voeders B.V.
11.12. INVE Aquaculture, Inc.
11.13. Kemin Industries, Inc.
11.14. Biostadt India Limited

(Note: SWOT analyses of the top 5 companies will be provided.)

12. Appendix

12.1. Available Customization
12.2. Related Reports