- Opportunity and Forecast, 2016-2025
Aquafeed is feed for aquatic organisms, which is manufactured using various industrial processes. Manufacturers ensure that vital ingredients are included in the feed, as it is administrated externally to fish in form of pellets. The size of pellets and nutritional content vary depending upon the target species during aquaculture and the customers requirements. Manufacturers are including high percentage of proteins, vitamins, carbohydrates, and other nutrients in aquafeed for fish of different age and species.
Increased fish food consumption, expansion of aquaculture industry, and rise in demand for fish meal & fish oil from pharmaceuticals and other industries drive the global aquafeed market. However, fluctuations in raw material prices hamper the market growth. Benefits such as reduction in risk of cardiovascular diseases and cognitive development in fetus & children, and decrease in fat levels in the body are expected to present opportunities for growth.
The global aquafeed market is segmented on the basis of product, end use, and geography. Based on product type, the market is classified into amino acids, antibiotics, vitamins, feed acidifiers, and others. Based on end use, it is divided into carp, mollusks, salmon, crustaceans, tilapia, cat fish, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
Key manufacturers operating in the industry include Biomar, Addcon, Alltech, Ridley, Aller Aqua, Dibaq Aquaculture, Biomin, Cargill Inc., Norel Animal Nutrition, Cermaq ASA, Beneo, and others. These players have adopted partnerships, collaborations, joint ventures, new product launches, mergers & acquisitions, expansion, and others as their key developmental strategies to gain a stronger position in the global industry.
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