Press Release
Press Release
According to a new report by EMR titled, ‘Global Aquaculture Feed Market Report and Forecast 2024-2032’, the market attained a volume of about 49.70 million tons in 2023. The market is further estimated to grow at a CAGR of 5.3% between 2024 and 2032 to reach 78.93 million tons by 2032.
The growth of the aquaculture feed market has been propelled by the increased global consumption of seafood and a heightened awareness among consumers regarding the quality of seafood products. Additionally, the rise in per capita income, particularly in developing nations, is anticipated to sustain the growth of the aquaculture and aquafeed industry. However, in the long term, the escalation in raw material costs is expected to pose a constraint on the market growth, as a substantial portion of high-quality feed relies on fish meal and fish oil for preparation.
The market is experiencing heightened growth due to the increasing cultivation of aquatic animals worldwide. Furthermore, the growing demand for organic fish oil across various industry verticals, including pharmaceuticals, food and beverages (F&B), and nutraceuticals, is contributing to the favourable expansion of the market. The versatile applications of organic fish oil have enhanced its significance across diverse sectors.
In January 2022, Archer Daniels Midland Company (NYSE: ADM), a worldwide leader in human and animal nutrition, announced the inauguration of its Aquaculture Innovation Lab at the Animal Nutrition Technology Center (ANTC) in Decatur, Illinois. This facility marks ADM's expansion in terms of its research and development capabilities, in a new region, complementing existing aquaculture research facilities situated in Brazil, Mexico, and Vietnam.
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The major players in the aquaculture feed market include Archer Daniels Midland Company, Cargill, Ridley Corporation Limited, Nutreco N.V., and Alltech, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Species |
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Breakup by Ingredients |
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Breakup by Additives |
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Breakup by Product Form |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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