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Friday, September 5, 2014
Aquafeed market seeing steady growth, especially in China
The global aquafeed market is the fastest-growing segment of the agriculture and animal feed milling industry and is witnessing a steady growth, particularly in China. The aquafeed market has grown exponentially in the past decade, and this trend is expected to continue.
Factors such as increasing consumption of sea food and growth in the aquaculture industry are increasing the market for the aquafeed industry, globally. The Asia-Pacific region was the largest market for aquafeed accounting for more than 76 percent of the total consumption.
ReportsnReports.com’s new research report, “Aquafeed Market by End Consumption (Fish, Crustaceans, Mollusks, Others), by Additives (Antibiotics, Vitamins, Antioxidants, Amino Acids, Feed Enzymes, Feed Acidifiers, Others), by Geography - Global Trends & Forecasts to 2019” says the Asia-Pacific region again took the major market share in terms of consumption with 76 percent of the total aquafeed market share in 2013. Increase in the domestic demand has contributed to the continuing growth trend particularly in this region.
Fish dominated the aquafeed market, by animal species, in 2013, with more than half of the market share. The global aquafeed market is projected to be valued at 89,479.0 MT by 2019 and $123,990.3 million by 2019 at CAGRs of 10.7 percent and 12.3 percent, respectively, from 2014 to 2019.
The aquafeed market includes feed for fish, crustaceans, mollusks and others. There has been a growing trend within most developing countries and many developed countries (such as Japan) toward the increased use of artificially compounded feeds (aqua feeds) for farmed finfish and crustaceans.
Aquafeed additives mainly comprise antibiotics, vitamins, antioxidants, amino acids, feed enzymes, feed acidifiers, and others. Amino acid is the major source of nutrients and constitutes the largest fish feed additive of animal species (fishes, crustaceans, and mollusks) diets, followed by antibiotics.
Aquafeed market companies profiled in this research include Alltech Inc., Aller Aqua A/S, Beneo - Animal Nutrition, Biomar A/S, Biomin GMBH, Cargill Incorporated, Charoen Pokphand Foods Public Company Limited, Coppens International B.V., Nutreco N.V. and Ridley Corporation.