Global Fish Feed Market size was valued at USD 3.9 Billion in 2023 and is expected to reach USD 7.2 Billion by 2032, at a CAGR of 4.5% during the forecast period 2023 – 2032.
A specific type of nutritionally balanced diet designed to supply vital nutrients needed for the proper growth and development of fish species is known as fish feed. It usually comprises lipids, proteins, carbs, and vitamins and minerals that are specifically designed to fulfill the nutritional requirements of various fish species and growth phases.
To lessen dependency on traditional fishmeal and fish oil, there is a growing need for environmentally friendly and sustainable feed components. This is pushing the use of alternative protein sources including insect meal, algae, and single-cell proteins.
Technological developments in aquaculture are driving the creation of precision feeding systems that maximize feed use and reduce waste. Thirdly, the need for specialized feeds enhanced with useful components like probiotics and prebiotics is being driven by rising consumer awareness of food safety and nutritional quality.
Furthermore, market dynamics are being shaped by governmental measures that support ethical aquaculture practices and the mitigation of environmental consequences, which in turn promote the use of sustainable feed formulations and production techniques.
By type, plant-based segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period 2024-2032. The utilization of alternative protein sources, such as soy, algae, and insects, has expanded in plant-based fish feed. This trend is a result of growing concerns about sustainability, technical improvements, and consumer demand for aquafeed products that are ecologically friendly.
By form, the pellets segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period 2024-2032. Increased demand for environmentally friendly and sustainable materials, the use of precision feeding systems, the creation of diets tailored to specific fish species, and a focus on nutritional optimization are some trends in fish feed pellets.
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By end user, the commercial segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period 2024-2032. The use of sustainable and alternative protein sources, and a greater emphasis on precision feeding methods, are some trends in the use of fish feed in commercial settings.
The market for fish feed in North America is showing trends such as rising demand for traceable and sustainable feed components, expansion of aquaculture, use of cutting-edge feed formulations, and focus on nutritional efficiency.
The Aquaculture Innovation Lab at the Animal Nutrition Technology Center (ANTC) in Decatur, Illinois, has opened, according to ADM, a pioneer in the world of nutrition for humans and animals. Building on current aquaculture research facilities in Brazil, Mexico, and Vietnam, this laboratory expands ADM’s global research and development capabilities to a new area.
CMI has comprehensively analyzed Fish Feed market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict depth scenarios of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Fish Feed industry.
The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.
List of the prominent players in the Fish Feed Market:
- Nutreco
- Cargill Incorporated
- BioMar Group
- Alltech Coppens
- Skretting (part of Nutreco)
- Ridley Corporation Limited
- Biomar (part of Schouw & Co.)
- Purina Animal Nutrition LLC
- EWOS (part of Cargill)
- Aller Aqua Group
- Archer Daniels Midland Company (ADM)
- Biomin Holding GmbH
- Marubeni Nisshin Feed Co. Ltd.
- Tongwei Co. Ltd.
- Nippon Formula Feed Manufacturing Company
- Charoen Pokphand Foods PCL (CP Foods)
- Guangdong Haid Group Co. Ltd.
- New Hope Group
- Avanti Feeds Limited
- CP Aquaculture (India) Pvt. Ltd.
- Others
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