The key players in aquafeed market are Cargill Inc. (U.S.), BioMar Group (Denmark), Waterbase Ltd (India), BASF (Germany) are Alltech Inc. (U.S.) .), Coppen International BV (Netherlands), Ridley Corporation (Australia), Zeigler bros. Inc. (U.S.), Evonik Industries (Germany) and Marvesa (Netherland)
Major suppliers have seen introduced the concept called environmental certified highly digestible feeds. Such products, also referred to as “low-pollution” feeds that serve to minimize buildup of deleterious organic and inorganic compounds within the culture system.
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Aquafeed has become an important part of modern commercial aquaculture to provide balanced nutrition needed for fish. Traditional aquafeed manufacturers are still using fish meal and fish oil. Modern aquafeed types are produced by grinding and mixing together ingredients such as fishmeal, vegetable proteins and binding agents such as wheat which driving growth of the market.
Aquafeed market is projected to grow at CAGR of 7% during the forecasted period 2016 to 2022 with increase in aquaculture activities all across the world. Availability of various ingredients and strong network of suppliers is also contributing in the growth of market. Growing seafood demand and rising production capacity which will play a critical role in the market.
Downstream market Analysis-
Aquafeed manufacturers are experiencing a variety of developments, including introduction of new concepts such as pellet stability and palatability as well as the designation “environmental certified feeds,” which results in decreased damage to the culture system. High demand for fishmeal and its shortage has resulted in significant increase in use of various alternate protein ingredients. Significant differences has been noticed in aquafeed production starting from feeding habit to actual dietary fishmeal consumption.
APAC accounted for higher market share in the aquafeed during the period 2011-2015. Half of the China’s aquafeed production is for crap. Most of the shrimps feed production occurs in Asia mainly in India and Thailand. Europe and North America, growing inclination towards salmon farming, rising demand for seafood, hardiness of the species and governmental interest have led to a higher demand for the market mainly from aquaculture firms
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Global Aquafeed Market is segmented by aquatic species, ingredients, additive type, life cycle and region.
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