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Report Overview
The global aquaculture feed market reached a volume of 49.70 million tonnes in 2023. The market is projected to reach 78.93 million tonnes by 2032, growing at a healthy CAGR of 5.3% during the forecast period of 2024-2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- The fish caught volume in India increased to 12.18 million metric tons in 2020, driving the demand for aquafeed. Andhra Pradesh is the largest fish feed-consuming state in India.
- In 2021, the EU aquaculture sector produced approximately 1.1 million tonnes of aquatic organisms, valued at EUR 4.2 billion.
- As per industry reports, rainbow trout were the most valuable species farmed in the EU in 2021, accounting for about 14% of all aquaculture production.
Aquaculture Feed Market Share
Soybean is the largest segment, followed by corn, fish meal, fish oil, and additives, driven by increasing demand for natural aquafeed
Based on the ingredients, the soybean segment is estimated to dominate the market, followed by corn, fish meal, fish oil, additives, and others. Since the soybean meal price is relatively less expensive than fishmeal and has a higher protein content, it is highly used as a feed for fish and other aquatic organisms.
The corn segment is the second-largest segment in the aquaculture feed market report as it is often used as a source of energy in aquafeed and is also a common ingredient in fish feed. Fish meal is another high-quality protein source used in aquafeed and acts as a binding agent in fish feed.
Meanwhile, fish oil is used because it is a rich source of omega-3 fatty acids and is used as a nutritional supplement in aquafeed. Additives, in contrast, have a growing market share as they are being used to enhance the nutritional value of aquafeed and include vitamins, amino acids, and antioxidants.
Based on the product form, the pellet segment is projected to hold the leading share
As per aquaculture feed market analysis, pellets are a popular choice among aquaculture farmers due to their ease of use and high nutritional value. They are made by extruding a mixture of ingredients such as soybean meal, corn, fishmeal, and fish oil through a die to create a uniform pellet.
Powdered feed, on the other hand, is made by grinding a mixture of ingredients such as soybean meal, corn, fishmeal, and fish oil into a fine powder. This process helps to improve the digestibility and nutritional value of the feed.
Aquaculture Feed Market Report Snapshots
Aquaculture Feed Market Growth
Aquaculture Feed Market Trends
Aquaculture Feed Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the aquaculture feed market reached an approximate volume of 49.70 million tonnes.
The market is expected to grow at a CAGR of 5.3% between 2024 and 2032.
By 2032, the market is estimated to reach 78.93 million tonnes.
The major market drivers include rising disposable incomes, the increasing health consciousness, growing mass production of fish, and surging consumption of seafood.
Key trends aiding market expansion include the rising use of natural resources and sustainable raw materials to produce aquaculture feed by manufacturers, rising aquaculture production in EU and APAC, and adoption of advanced technologies to produce quality aquafeed.
Regions considered in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Based on species, the market is divided into carp, marine shrimps, tilapias, catfishes, marine fishes, salmons, freshwater (FW) crustaceans, and trouts, among others.
Soybean, corn, fish meal, fish oil, and additives are commonly used ingredients in aquaculture feed.
The significant product forms of aquaculture feed are pellets, extruded, powdered, and liquid.
Key players in the market are Archer Daniels Midland Company, Cargill, Incorporated, Ridley Corporation Limited, Nutreco N.V., and Alltech, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124