[220+ Pages Latest Report] According to a market research study published by Custom Market Insights, the demand analysis of Global Fish Feed Market size & share revenue was valued at approximately USD 3.5 Billion in 2022 and is expected to reach USD 3.9 Billion in 2023 and is expected to reach around USD 7.2 Billion by 2032, at a CAGR of 4.5% between 2023 and 2032. The key market players listed in the report with their sales, revenues and strategies are Nutreco, Cargill Incorporated, BioMar Group, Alltech Coppens, Skretting (part of Nutreco), Ridley Corporation Limited, Biomar (part of Schouw & Co.), Purina Animal Nutrition LLC, EWOS (part of Cargill), Aller Aqua Group, Archer Daniels Midland Company (ADM), Biomin Holding GmbH, Marubeni Nisshin Feed Co. Ltd., Tongwei Co. Ltd., Nippon Formula Feed Manufacturing Company, Charoen Pokphand Foods PCL (CP Foods), Guangdong Haid Group Co. Ltd.,
Austin, TX, USA, March 21, 2024 (GLOBE NEWSWIRE) — Custom Market Insights has published a new research report titled “Fish Feed Market Size, Trends and Insights By Product Type (Plant-Based, Fish & Fish Products, Microorganism), By Form Outlook (Pellet, Granules, Flakes, Sticks, Powder), By End Use Application (Commercial, Household), By Distribution Channel (B2B, B2C) and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” in its research database.
“According to the latest research study, the demand of global Fish Feed Market size & share was valued at approximately USD 3.5 Billion in 2022 and is expected to reach USD 3.9 Billion in 2023 and is expected to reach a value of around USD 7.2 Billion by 2032, at a compound annual growth rate (CAGR) of about 4.5% during the forecast period 2023 to 2032.”
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Fish Feed Market: Overview
A specific type of nutritionally balanced diet designed to supply vital nutrients needed for the proper growth and development of fish species is known as fish feed. It usually comprises lipids, proteins, carbs, and vitamins and minerals that are specifically designed to fulfill the nutritional requirements of various fish species and growth phases.
To lessen dependency on traditional fishmeal and fish oil, there is a growing need for environmentally friendly and sustainable feed components. This is pushing the use of alternative protein sources including insect meal, algae, and single-cell proteins.
Technological developments in aquaculture are driving the creation of precision feeding systems that maximize feed use and reduce waste. Thirdly, the need for specialized feeds enhanced with useful components like probiotics and prebiotics is being driven by rising consumer awareness of food safety and nutritional quality.
Furthermore, market dynamics are being shaped by governmental measures that support ethical aquaculture practices and the mitigation of environmental consequences, which in turn promote the use of sustainable feed formulations and production techniques.
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By type, plant-based segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period 2024-2032. The utilization of alternative protein sources, such as soy, algae, and insects, has expanded in plant-based fish feed. This trend is a result of growing concerns about sustainability, technical improvements, and consumer demand for aquafeed products that are ecologically friendly.
By form, the pellets segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period 2024-2032. Increased demand for environmentally friendly and sustainable materials, the use of precision feeding systems, the creation of diets tailored to specific fish species, and a focus on nutritional optimization are some trends in fish feed pellets.
By end user, the commercial segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period 2024-2032. The use of sustainable and alternative protein sources, and a greater emphasis on precision feeding methods, are some trends in the use of fish feed in commercial settings.
The market for fish feed in North America is showing trends such as rising demand for traceable and sustainable feed components, expansion of aquaculture, use of cutting-edge feed formulations, and focus on nutritional efficiency.
The Aquaculture Innovation Lab at the Animal Nutrition Technology Center (ANTC) in Decatur, Illinois, has opened, according to ADM, a pioneer in the world of nutrition for humans and animals. Building on current aquaculture research facilities in Brazil, Mexico, and Vietnam, this laboratory expands ADM’s global research and development capabilities to a new area.
Report Scope
Feature of the Report | Details |
Market Size in 2023 | USD 3.9 Billion |
Projected Market Size in 2032 | USD 7.2 Billion |
Market Size in 2022 | USD 3.5 Billion |
CAGR Growth Rate | 4.5% CAGR |
Base Year | 2022 |
Forecast Period | 2023-2032 |
Key Segment | By Type, Form, End User and Region |
Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
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CMI has comprehensively analyzed Fish Feed market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict depth scenarios of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Fish Feed industry.
The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.
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Key questions answered in this report:
Key Offerings:
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Fish Feed Market: Regional Analysis
By region, Fish Feed market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. North America dominated the global Fish Feed market in 2022 with a market share of 40% 2022 and is expected to keep its dominance during the forecast period 2024-2032.
There is a significant demand for feed to sustain the growth of different fish species, including salmon, trout, tilapia, and catfish, in the aquaculture business. Strict laws guarantee the safety and quality of fish meal, building customer confidence and promoting market expansion.
Furthermore, substantial investments in sustainable aquaculture methods and the presence of major companies in the aquafeed business support market development. The need for fish feed in North America is also being driven by technical developments that improve sustainability and efficiency in fish farming, such as the use of alternative materials and precision feeding methods.
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The Fish Feed Market is segmented as follows:
By Type
By Form
By End User
By Distribution Channel
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Regional Coverage:
North America
Europe
Asia Pacific
The Middle East & Africa
Latin America
This Fish Feed Market Research/Analysis Report Contains Answers to the following Questions.
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