For
high-quality livestock, the quality of feed demands the utmost
importance in an animal production system. The fact holds true in the
aquatic farming scenario too. With the growing demand for fish and
other aquatic animals for food and as pets, the significance of
nutritional food for them is rising considerably. Aquaculture farmers
are increasingly demanding for high-quality nutritious feed for
aquatic animals in order to optimize their production without
compromising on their health and, consequently, their quality.
The
global aqua feed market is highly driven by the rising trend of
species-specific diet formulations. The market, which stood at
US$57.7 bn in 2012, is likely to report a CAGR of 11.40% during the
period from 2013 to 2019, and reach US$122.6 bn by the end of 2019,
finds a new report by Transparency Market Research (TMR).
View
exclusive Global strategic Business report
:http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1447
Researchers
at TMR answer important queries about the global aqua feed market in
this blog post:
What
are the key driving forces behind the significant rise in the demand
for aqua feed?
Of
late, the demand for aquatic animals, particularly fishes, has been
witnessing a rise for consumption purposes, thanks to the high
nutritional value and cost benefits they offer. The increasing
production of fish and other aquatic animals to meet this massively
growing demand has boosted the need for aqua feed substantially,
leading to a remarkable growth in the global aqua feed market.
Apart
from this, the increasing adoption of fishes at pets and the rising
trend of keeping aquarium and fish tanks for aesthetic purposes are
also reflecting positively on the sales of aqua feed across the
world.
What
factors may affect the growth of this market in the coming years?
The
fluctuating prices of the raw materials, such as wheat, soybean, fish
oil, corn, and fish meal, utilized to prepare aqua feed are likely to
influence its price negatively in the coming years. As a result, the
demand for aqua feed will decline to some extent.
In
some cases, aqua feed producers may not be able to pass the
additional cost to consumers and will be compelled to reduce their
profit margins. In such situations, the production of aqua feed will
suffer drastically, impacting the whole market in the long run.
Which
of the regional markets will gain prominence in the global aqua feed
market in the near future?
Asia
Pacific has been leading the global market for aqua feed since the
past few years. The high demand for fish and the increasing number of
aquaculture facilities in this region have been supporting the growth
of the Asia Pacific aqua
feed market remarkably.
With the emergence of China as the global leader in aquaculture production, the demand for aqua feed is anticipated to swell enormously in Asia Pacific in the near future, aiding the region to remain dominant over the next few years.
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