Global Aquafeed Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

Global Aquafeed Market, Segmentation By Additives

The Global Aquafeed Market, Segmented by Amino Acids, Antibiotics, Vitamins & Minerals, Feed Acidifiers, Antioxidants, Enzymes, Anti-parasitic, Probiotics & Prebiotics, Others.

This high share is attributed to its advantages, such as enhancing immunity, increasing larval performance, optimizing the efficiency of metabolic transformation in fish, increasing tolerance to environmental stresses, mediating efficiency and timing of spawning, and improving fillet taste and texture when added in aquafeed. In addition to amino acids, antibiotics are also widely used additives in aquafeed. They promote better growth by improving overall health and are used to maximize productivity and efficiency.

Intensive aquaculture promotes the growth of some bacterial infections and leads to increased use of antibiotics. Current levels of antibiotics used in aquaculture around the world cannot be easily determined due to different distribution and registration systems in different countries. Furthermore, vitamins are extensively utilized in animal feed formulations. They act as effective barriers against viruses, parasites, and bacteria. Vitamins are naturally present in the feed, but additional supplements are also mixed with vitamins to provide optimal nutrition when added to livestock feeds.

Also, there are several mineral elements considered to be essential nutrients for fish. The mineral elements are introduced in the aquafeed in levels to maintain the ability of fish and resist diseases. Amino acids play a crucial role in fish growth and development, while antibiotics are used to prevent and treat bacterial infections.Vitamins and minerals are essential for fish health and immune function, and feed acidifiers help maintain the pH balance in the digestive tract. Antioxidants are used to prevent oxidation of fats in the feed, while enzymes improve feed digestibility. Anti-parasitic agents are used to control parasitic infections, and probiotics & prebiotics promote gut health in farmed fish. These additives are essential for formulating high-quality aquafeed that meets the nutritional needs of fish and other aquatic species.

Global Aquafeed Market, Segmentation By Aquafeed Form

The Global Aquafeed Market, Segmented By Aquafeed Form into Dry, Moist, and Wet.

Dry, moist, and wet aquafeed forms offer different benefits and are suitable for various aquaculture systems and species. Dry feed is commonly used in large-scale aquaculture operations due to its ease of handling and storage, making it cost-effective for feeding fish in ponds, cages, and tanks. Moist feed provides a higher level of palatability and is often used in hatcheries and nurseries to encourage feeding in young fish or shrimp. Wet feed, although less common, is preferred for its resemblance to natural prey and is often used in specialized aquaculture systems or for feeding predatory species.

The choice of aquafeed form depends on factors such as the species being fed, the production system, and feeding strategies employed by aquaculturists.Dry aquafeed is the most commonly used form and is convenient for storage, handling, and transportation. It can be easily manufactured in bulk and has a longer shelf life compared to moist and wet forms.

Moist aquafeed contains higher moisture content than dry feed and is often preferred for its palatability and ease of consumption, particularly for young or smaller fish. Wet aquafeed has the highest moisture content and is typically used for species that prefer live or freshly prepared feed. Each form of aquafeed offers unique advantages and is chosen based on the specific requirements of the aquatic species being fed.

Global Aquafeed Market, Segmentation By Feed

The Global Aquafeed Market, Segmented by Feed into Starter Feed, Grower Feed, Finisher Feed, and Brooder Feed.

Its high share is attributed to its rising usage in animals, which are between the age group of 6 to 20 weeks, to fulfill their dietary requirements. This type of feed is given to the animal until they are ready to start reproducing and laying eggs. Switching from starter to grower feed is necessary as excessive protein content may cause long-term liver or kidney issues. In addition, finisher feeds are also used widely after grower feeds. Finisher feeds are usually given to adult fish/animals that are more than 20 weeks old.It provides nutrients that meet the key needs of the animals. It comprises 21% of protein with high energy to aid life. A high level of energy is provided by the feed so that habitual activities are performed smoothly.

Starter feed is a protein-rich variety of feed prepared to fulfill the dietary needs of animals. It usually contains 21% protein content, which helps in the development of animals. It is the highest amount of protein content the animal will ever have, as they are growing at a significant rate at this stage of life. Starter feeds allow the young animals to adapt to solid feed and improve the absorption of the feeds for the later stage. It is more nutritious and contains nutrients required for the optimum growth of the animals. Starter feed is specially formulated to meet the nutritional needs of young aquatic species, providing essential nutrients for rapid growth and development. Grower feed is designed to support the growth phase of fish or shrimp, providing the necessary nutrients to promote healthy weight gain and muscle development.

Finisher feed is fed during the final stages of production to maximize growth and ensure proper finishing before harvest. Brooder feed is used for broodstock, providing the nutrients needed for reproductive health and successful breeding. Each type of feed is formulated to meet the specific nutritional requirements of different stages of the aquaculture production cycle, optimizing growth, health, and overall performance of the aquatic species being raised.

Global Aquafeed Market, Segmentation by Application

The Global Aquafeed Market, Segmented by Application into Carp, Rainbow Trout, Salmon, Crustaceans, Tilapia, Catfish, Sea Bass, Grouper and Others

The high share of this segment is attributed to the rising consumption of this species as it promotes overall health, boosts immunity, improves heart health, lowers the risk of chronic diseases, and protects gastrointestinal functions. Catfish, being a sustainable fish species, is farmed in freshwater ponds using rice, corn, and soybean as aquafeed. It is the preferred group of farmed aquaculture species due to its ease of farming in less-than-ideal climatic conditions.Increasing demand for catfish from consumers, on account of its vitamin D and omega-6 fatty acids contents, is expected to augment the segment growth.

Tilapia is a freshwater fish and is bred in aquaculture on account of its inexpensive vegetarian feed and fast growth. It grows at a faster rate compared to carnivorous species, such as salmon. The growing production of tilapia species due to its fast growth rate, palatability, high protein content, and large size is expected to amplify the importance of aquafeed in this application segment.The global aquafeed market is witnessing significant growth, driven by factors such as the increasing demand for seafood, technological advancements in feed formulations, and the rising awareness of the health benefits of aquaculture products. Key regions contributing to this growth include Asia Pacific, particularly China and India, which are major producers and consumers of aquafeed.

North America and Europe also play crucial roles, with established aquaculture industries driving demand for innovative feed solutions. Additionally, the Middle East and Africa, as well as Latin America, are emerging as lucrative markets, presenting opportunities for aquafeed manufacturers to expand their presence and cater to the growing demand for sustainable and high-quality aquafeed products.

Drivers

• Technological Advancements in Aquafeed
• Rising Awareness of Health Benefits
• Increasing Aquaculture Production

• Regulatory Support and Sustainability Initiatives: Regulatory support and sustainability initiatives are key drivers shaping the global aquafeed market. Governments and regulatory bodies worldwide are increasingly emphasizing sustainable aquaculture practices to address environmental concerns and ensure long-term food security. Regulations related to the use of certain ingredients, such as antibiotics and growth promoters, as well as standards for food safety and environmental sustainability, are driving aquafeed manufacturers to adopt more sustainable sourcing and production practices.
  
  Consumer preferences for sustainably sourced seafood are influencing aquafeed manufacturers to develop eco-friendly feed formulations. These formulations often use alternative protein sources, such as plant-based proteins and insect meal, which have a lower environmental impact than traditional fishmeal and fish oil. As a result, aquafeed manufacturers are innovating to meet these regulatory and consumer demands, driving growth in the market for sustainable aquafeed products.

Restraints

• Fluctuating Raw Material Prices
• Environmental Concerns
• Regulatory Constraints

• Competition from Alternative Protein Sources: Competition from alternative protein sources poses a significant restraint on the global aquafeed market. As the demand for aquafeed grows alongside the expansion of the aquaculture industry, there is increasing pressure on traditional protein sources such as fishmeal and fish oil. Alternative protein sources, including plant proteins, algae, insects, and single-cell proteins, are emerging as viable substitutes due to their lower cost and reduced environmental impact. Availability of these alternative protein sources is not limited by factors such as overfishing or fluctuations in fish stocks, making them more reliable and sustainable in the long term.
  
  As a result, aquafeed manufacturers are facing increasing competition from producers of alternative protein sources, which could impact the market share of traditional aquafeed ingredients. This competition highlights the need for aquafeed manufacturers to innovate and develop new formulations that can effectively compete with alternative protein sources in terms of cost, nutritional value, and sustainability.

Opportunities

• Increasing Demand for Specialized Feeds
• Rising Popularity of Aquafeed Additives
• Focus on Sustainability and Environmental Responsibility

• Technological Advancements in Feed Manufacturing: Technological advancements in feed manufacturing present significant opportunities for the global aquafeed market. One such advancement is the development of precision aquafeed manufacturing systems, which allow for the precise control of feed composition and particle size. This enables aquafeed manufacturers to tailor feed formulations to meet the specific nutritional requirements of different species and life stages, improving feed efficiency and growth rates. The opportunity lies in the use of automation and robotics in feed manufacturing facilities.
  
  Automated systems can streamline the production process, reduce labor costs, and improve overall efficiency. Advances in extrusion technology have led to the development of high-quality aquafeed pellets with improved nutrient digestibility and feed conversion ratios. These technological advancements are driving innovation in the aquafeed industry and are expected to create new opportunities for manufacturers to develop high-performance, sustainable feed solutions.