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The Asia Pacific aquafeed market stood at a volume of 40.47 million tons in 2023. The Asia Pacific market is aided by the growth of the global market, which is projected to grow at a CAGR of nearly 10.7% in the forecast period of 2024-2032.
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The Asia Pacific aquafeed market is supported by the presence of a large population and growing consumption of seafood. The region currently holds the highest share in the global aquaculture production. Seafood is one of the most popular food items and plays a significant role in the dietary habits in several countries such as China, Thailand, Vietnam, Indonesia, Malaysia, South Korea, and Japan.
The carps segment represents the most popular end-user in the global aquafeed market. Further pellets account for a significant industry share globally owing to its ease of use.
Aquafeed refers to the compounded meals that are prepared to feed different marine species by mixing various raw materials and additives. Such blends are formulated and supplied in compliance with the species' particular requirements and age. Aquafeed plays a vital role in giving the aquatic species normal growth and health. It also helps reduce the effects of stress, enhancing disease tolerance power, and improve immunity.
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On the basis of end-use, the Asia Pacific aquafeed market has been segmented into:
On the basis of ingredients, the industry is categorised into:
Based on additives, the aquafeed market has been segmented into:
On the basis of product form, the industry is categorised into:
The report also covers the regional aquafeed markets in the Asia Pacific, which include China, Indonesia, Japan, Bangladesh, Thailand, Vietnam, India, Malaysia, and South Korea, among others.
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The growing population and rising health concern among consumers in the Asia Pacific are driving the demand for aquafeed. The growing consumption of seafood is supporting the growth of the Asia Pacific aquafeed market. The growing consumer knowledge regarding the benefits of these additives, coupled with the outbreak of various diseases, is generating the need for additives in poultry, aqua, and other animal-based products, which in turn, is boosting the product demand worldwide. Thus, the demand for seafood in the region is catalysed by both domestic consumption and exports, which is aiding the growth of aquafeed industry in the Asia Pacific.
Within the Asia Pacific, the growing consumer inclination towards protein-rich diet, along with factors like rising disposable incomes and changing lifestyle patterns, is leading to increased demand for seafood. The various government programmes to enhance the supply of certified sustainable seafood will further drive the demand for aquafeed in the region. Moreover, key market players are increasingly investing in R&D activities to deliver improved products, which is expected to accelerate the demand for aquafeed. The market players are also focusing on improving their product lines, which is expected to aid the Asia Pacific aquafeed market over the forecast period.
The report gives a detailed analysis of the following key players in the Asia Pacific aquafeed market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| 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 Ingredient |
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| Breakup by Additives |
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| Breakup by Product Form |
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| Breakup by End Use |
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| Breakup by Country |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*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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The Asia Pacific aquafeed market reached a volume of 40.47 million tons in 2023.
The market is projected to grow at a CAGR of 10.7% between 2024 and 2032.
The market is assessed to witness a healthy growth in the forecast period of 2024-2032 to reach about 100.66 million tons by 2032.
The major drivers of the market include rising disposable incomes, increasing population, rising health concerns among consumers, growing consumption of seafood, and the surging consumer inclination towards protein-rich diets.
The key trends guiding the market are the introduction of favourable government initiatives aimed at improving the supply of sustainable seafood, the growing awareness regarding the benefits of seafood, and the increasing research activities by key players to develop aquafeed with improved nutrition and flavour profile.
China, Indonesia, Japan, Bangladesh, Thailand, Vietnam, India, Malaysia, and South Korea, among others, are the major countries in the Asia Pacific market.
Fish meal, soybean, fish oil, corn, and additives, among others, are the various ingredients considered in the market report.
The major ingredients in the industry are soybean, fish meal, corn, fish oil, and additives, among others.
The major additives used in the market are amino acids, antibiotics, vitamins, and feed acidifiers, among others.
Pellets, extruded, powdered, and liquid are the various product forms of aquafeed considered in the market report.
Carps, shrimp, tilapia, molluscs, catfish, salmon, and lobsters, among others, are the significant end uses of aquafeed.
The leading players in the market are Charoen Pokphand Foods PCL., BioMar Group, Aller Aqua Group, Ridley Corporation Limited, Cargill, Incorporated, and Nutreco N.V., 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
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