Transparency
Market Research has published a new report on the global aqua feed
market. As per the report, the global aqua feed market is expected to
progress from US$57.7 bn in 2012 to US$122.6 bn by 2019. The report,
titled ‘Aqua Feed Market - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast, 2013 - 2019,’ states that the market
is predicted to expand at an 11.40% CAGR during the period between
2013 and 2019. The market’s growth will stem from the mounting
consumption of fish worldwide.
Aqua
feed is food formulated specifically for fishes, which is
commercially manufactured via numerous industrial procedures. Aqua
feed is primarily available as pellets, which contain important
ingredients that provide nutrition to fish. As per the fish species
and size to be fed, these pellets are available in many sizes.
Further, the properties of pellets can be easily changed so that they
sink to the bottom of fish tanks or float on the surface of the
water. The nutrient contents of the feed can be controlled and this
has benefitted the global
aqua feed market in the recent past. Also, there has been a
growth in the farming aquatic species such as crustaceans, mollusks,
and fish.
The
fluctuating cost of raw materials used in aqua feed is predicted to
hamper the growth of the global aqua feed market in the next few
years. However, the rising demand for functional and conventional
aqua feed from China and Rest of Asia is expected to benefit the
global aqua feed market in the near future. The growth of the global
aqua feed market is projected in the next few years due to the
increasing demand for fish in various foods. The human consumption of
fish is predicted to increase in the years to come, thereby driving
the global aqua feed market.
The
global aqua feed market is segmented on the basis of geography and
end-users. By end-users, the global aqua feed market is classified
into crustaceans, carp, catfish, salmon, mollusks, tilapia, and
others such as milkfish, eels, and trout. In 2012, by end-user, the
highest demand for aqua feed was from the carps segment, accounting
for 25% of the global aqua feed market. Carps have the highest demand
in the retail industry whereas crustaceans have the highest demand in
the food and the pharmaceutical industries. The rising demand for
aqua feed from end-user segments such as mollusks and salmons is
expected to propel the global aqua feed market in the near future.
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Based
on geography, the global aqua feed market is divided into Europe,
Asia Pacific, North America, and Rest of the World. In 2012, Asia
Pacific accounted for a share of 65% in the global aqua feed market.
Europe is expected to be the second-largest contributor to the global
aqua feed market after Asia Pacific.
In
1970, the contribution of aquaculture to the worldwide fisheries
market was merely 4%. In 2006, the contribution grew to nearly 36%.
It is predicted that, by 2020, 120-130 million tons of aquatic
products will enter the global fisheries market thanks to the
aquaculture industry. This growth of the aquaculture industry is
expected to boost the global aqua feed market. Alltech Inc., Avanti
Feeds Ltd., BioMar A/S, Cermaq ASA, Aller Aqua A/S, and Beneo GmbH
are some of the key companies operating in the global aqua feed
market.
Key
Segments of Aqua Feed Market
Aqua
Feed Market by End-Users
- Crustaceans
- Mollusks
- Carp
- Salmon
- Catfish
- Tilapia
- Others (Trouts, eels, milkfish, etc.)
Aqua
Feed Market by Geography
- North America
- Asia Pacific
- Europe
- Rest of the World
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