Aquafeed Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029
Global Aquafeed Market – Overview
Aquafeeds are compounded meals made for aquatic animals by combining several raw materials and additives. These combinations are made as per specific requirements of the species and age of the fish. Aquafeed has become important to the aquaculture industry because of its nutritional, immune resistant, and growth promoting properties. Better quality of aquafeed is much more beneficial to fish, mollusks, crustaceans & other aquatic animals than farm-made feed due to their balanced and need specific composition.
Increasing global seafood consumption and growing consumer awareness on quality of seafood products are boosting the aquafeed market growth. Furthermore, rising per capita income, especially from developing nations, is expected to maintain the growth of aquaculture and aquafeed industry. In the long term Increasing raw material costs may restrict the market growth as majority of high quality feed is prepared by fish meal and fish oil.
Global Aquafeed Market – Competitive Landscape
The global aquafeed market features a fragmented landscape owing to the strong presence of several key players in the market. These leading companies in the global market are constantly focusing on enhancing the efficiency of products by offering classes, seminars, and aquafeed tours. These educational practices are working in favor of the development of the global market and are also being utilized as a free marketing tool. The existing market players are deploying various strategies and advanced techniques to divert potential traffic towards being market participants.
Some of the leading companies in the global aquafeed market include names such as Alltech, BioMar, Cargill Incorporated, Ridley Corporation,
Aller Aqua A/S, Beneo GmbH, Cermaq, Norel Animal Nutrition, Biomin Holding GmbH, Archer Daniels Midland (ADM), and Avanti Feeds Ltd. among others.
Global Aquafeed Market – Drivers and Restraints
The shrinking of arable lands owing to rapid urbanization and industrialization is increasing the salability for aquafeed as it requires least aquatic space for husbandry of vegetables. As a result aquafeed is gaining popularity, which is fueling the advancement of the global aquafeed market. The fish waste acts as natural fertilizer for the vegetables that grow inside the water solvent. As a result, the organic produce acquired is free from any pesticides or fertilizers and even curbs the expenses for fertilizers. According to a USA based company known as Nelson and Pade, aquafeed produces eight times more food per acre in 1/6th of the space required by traditional agriculture. The lack of agricultural machinery, expensive equipment, and fertilizers for the whole process of aquafeed offer environment sustainability as well as economic efficiency. These characteristics are boosting the progress of the global aquafeed market.
Global Aquafeed Market – Geographical Outlook
The global aquafeed market has five main regions that provide the reader with the intricate details of the working dynamics of the regional landscape. These regions are North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Of these, currently, the global aquafeed market is being dominated by the regional segment of North America. The growing uptake in the region is significantly contributing to the growth of the global aquafeed market. The market is majorly driven by China, which is a major producer of aquafeed. China is the leading producer, consumer, and processor of aquaculture products, contributing to about one-third to the global supply. Moreover, the processed seafood market in the region is also currently undergoing a significant transformation in response to the rapid urbanization and diet diversification.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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