Westford, USA, July 10, 2023 (GLOBE NEWSWIRE) -- The global Fish Feed market size is expected to reach USD 261.8 billion by 2030 and exhibit a CAGR of 9.9% in the forecast period (2023−2030), according to Skyquest's latest research report. The increasing global demand for seafood and aquaculture products, growth in aquaculture industry and fish farming practices, rising population and changing dietary preferences, advancements in fish feed formulation and nutrition research, increasing awareness about the benefits of high-quality fish feed, government initiatives and regulations promoting sustainable aquaculture practices, demand for fish feed with improved growth rates and disease resistance, availability of alternative ingredients and sustainable feed sources, expansion of aquaculture operations in developing regions, is fueling the market's growth.
According to SkyQuest's latest global research of the Fish Feed market, increasing use of alternative protein sources in fish feed, growing demand for sustainable and eco-friendly fish feed solutions, adoption of functional and specialty feed additives for fish health and performance, development of precision feeding technologies for improved efficiency, expansion of land-based and recirculating aquaculture systems (RAS), rising focus on plant-based and vegetarian fish feed formulations, incorporation of probiotics and prebiotics in fish feed for gut health, are the trends that aid in the market's growth.
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Browse in-depth TOC on "Fish Feed Market"
- Pages - 211
- Tables - 135
- Figures -62
Fish feed is a food that is specifically formulated to meet the nutritional needs of fish. It is typically made from a variety of ingredients, including fishmeal, soybean meal, wheat, corn, and vitamins. Fish feed is an important part of aquaculture, as it helps to ensure that fish grow and develop properly.
Prominent Players in Fish Feed Market
- Aquafeed International
- BioMar
- Cargill
- CP Group
- Dawex
- DSM
- Everfeeds
- ForFarmers
- Guangdong Haid Group
- Hainan Feed Group
- Inve Aquaculture
- JFE Shoji Food & Feed
- Marubeni Nisshin Feed
- New Hope
- Nutreco
- Purina Animal Nutrition
- Ridley Corporation
- Skretting
- Thai Union
- Uni-President
Report Scope & Segmentation:
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| Attributes | Details |
| Forecast Period | 2023-2030 |
| Market Size in 2022 | 122 Billion |
| 2030 Value Projection | 261.8 Billion |
| CAGR | 9.9% |
| Segments Covered |
|
| Regions Covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Fishmeal Demand to Grow Substantially in the Forecast Period
Fishmeal dominated the global online market as they are derived from fish processing by-products and has been a primary protein source in fish feed due to its excellent amino acid profile and digestibility. Fish oil, derived from oily fish species, is rich in omega-3 fatty acids, which are vital for fish growth, reproduction, and overall health.
Commercial Fish Farming are the Leading Application Segment
In terms of application, commercial fish farming is the leading segment due to the rise in global demand for seafood. In addition, these farms require high-quality fish feed to support the growth, health, and productivity of fish species such as salmon, tilapia, catfish, and shrimp. The increasing adoption of intensive fish farming practices and the expansion of aquaculture operations contribute to the demand for fish feed in this segment.
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Asia Pacific is the leading Market Due to the Large Aquaculture Industry
Region-wise, Asia Pacific is one of the largest growing markets with a huge emphasis on the aquaculture industry. Countries such as China, India, Vietnam, and Indonesia have substantial aquaculture production and consumption, driving the demand for fish feed in the region. The presence of major aquaculture players, a diverse range of fish species, and government support for the aquaculture sector contribute to the dominance of Asia Pacific in the market.
A recent report thoroughly analyzes the major players operating within the Fish Feed market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Fish Feed .
Key Developments in Fish Feed Market
- In early 2023, Alltech Fennoaqua was Acquired by Alltech and Finnforel Oy.
Key Questions Answered in Fish Feed Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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