The
global aqua feed market is extremely fragmented and competitive in
nature, owing to the presence of a large number of small and
medium-sized aqua feed manufacturers across the globe, states a
research report by Transparency Market Research (TMR). Some of the
prominent players operating in the global aqua feed market are BioMar
A/S, Avanti Feeds Ltd., Cargill Incorporated, Aller Aqua A/S, Beneo
GmbH, Dibaq Aquaculture, Alltech Inc., and Cermaq ASA. These players
are making noteworthy efforts to boost their market penetration and
achieve a top position in the global market. In addition, these
players are emphasizing on the expansion of their product portfolio
and quality of their products, which is likely to contribute
essentially towards the development of the overall market.
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According
to the research report by Transparency Market Research, the global
market for aqua feed is expected to reach a value of US$122.6 bn by
the end of 2019. This market is anticipated to witness a progressive
growth rate throughout the forecast period.
Developing
Aquaculture Industry to Bolster Asia Pacific Aqua Feed Market
On
the basis of geography, the global aqua feed market has been divided
into North America, Europe, Asia Pacific, and the Rest of the World.
Among these, in 2015, Asia Pacific led the global aqua feed market
and is anticipated to remain in the prominent position throughout the
forecast period. The high growth of this region can be attributed to
the flourishing aquaculture industry and the rising demand for
high-quality fishes. On the other hand, the demand for aqua feed is
estimated to rise substantially in several countries in the Rest of
the World segment in the near future.
In
terms of end use, the carps segment is likely to lead the global
aqua feed market and account for a key share in the forecast
period. The compatibility of carbs to survive in harsh environmental
conditions is the primary factor augmenting the growth of this
segment in the next few years. The mollusks segment is anticipated to
be in the second position and witness a steady growth, thanks to the
growing consumer awareness regarding the health benefits offered by
mollusks.
Rising
Seafood Trades to Bolster Global Aqua Feed Market
The
growing seafood trade and the rising production capacity are some of
the key factor fuelling the growth of the global aqua feed market. In
addition, the rising demand for high quality fish in the global
aquaculture industry and the initiatives by several regulatory
agencies on encouraging aquaculture activities are likely to augment
global aqua feed market in the next few years. Key players in the
market are also focusing on creating an awareness among consumers and
increase their market penetration.
Furthermore,
the rising human consumption of fish and the increasing inclination
towards functional and conventional aqua feed are likely to
supplement market’s growth in the coming years. Moreover, the
rising number of players in the market, emphasizing on innovations is
estimated to drive the global aqua feed market.
Fluctuating
Raw Material Prices to Curtail Market Growth
The
global aqua feed market, on the contrary, is expected to face several
challenges in the coming years, owing to the rise in prices of the
feed ingredients. Moreover, the negative impact of aqua feed on the
environment is expected to restrict the growth of the global aqua
feed market. Nonetheless, the replacement of farm-made feed by
formulated feed is expected to generate promising opportunities for
the leading players.
This
information is based on the findings of a research report published
by Transparency Market Research (TMR), titled “Aqua Feed Market -
Global Industry Analysis, Size, Share, Growth, Trends and Forecast,
2013-2019.”
The
market has been segmented as below:
Global
Aqua Feed Market, by End Use
- Crustaceans
- Mollusks
- Carp
- Salmon
- Catfish
- Tilapia
- Others (Trouts, eels, milkfish, etc.)
Global
Aqua Feed Market, by Geography
- North America
- Asia Pacific
- Europe
- Rest of the World
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